Fixed Array Solar Collectors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Fixed Array Solar Collectors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : January, 2023 | Energy & Mining

Report Digest

With the increasing prices of fossil fuels and the exhausting resources of non-renewable resources, the need for energy generation from renewable resources is increasing at a rapid rate. Solar energy is one of the most prominently used renewable resources for energy generation purposes. Many new devices and techniques have been devised to generate maximum output from solar energy. Fixed array solar collectors are one of them. Thus, based on these factors, the fixed array solar collectors market is prognosticated to observe extensive growth across the forecast period of 2020-2030.

Many countries are adopting solar energy generation initiatives to promote the use of clean energy. The rising awareness about the importance of environmental conservation will further have a profound impact on the growth of the fixed array solar collectors market. Therefore, these factors will have a good impact on the global market.

Research and development activities have a prominent role in increasing the growth rate of the fixed array solar collectors market. The players indulge in these activities for exploring new formulations and techniques that help expand the consumer base. These activities result in an increase in the revenues, eventually boosting the growth prospects.

Mergers, acquisitions, joint ventures, and partnerships have a crucial part in the overall growth of the fixed array solar collectors market. The players are involved in these activities for strengthening their foothold. Thus, these aspects help in churning exponential growth for the fixed array solar collectors market.

The COVID-19 pandemic has a major impact on the growth of the fixed array solar collectors market. The pandemic has ruined the growth prospects of the fixed array solar collectors market to a considerable extent. The imposition of strict lockdowns led to the shutting down of manufacturing facilities and production units. These factors damaged the growth structure of the fixed array solar collectors market. However, the relaxations in the lockdown norms will help stabilize the growth of the fixed array solar collectors market.

Fixed Array Solar Collectors Market: Introduction

Fixed array solar collectors is placed in just one position. It is tilted in a particular angle to suck up the solar radiation. The annual production in fixed array solar collectors market  is foreseen to reach around 500GW by the end of 2020. The production was estimated around 40 GW back in 2013. This makes the market to grow rapidly in coming few years. It is a creative market with nations such as China dominating on global scale to produce photovoltaic cells.

The global fixed array type of solar collectors’ market is segregated based on application, technology, and product type, and region. On the basis of application the market is segmented into institutional, industrial commercial, and residential. In terms of product type, the fixed array solar collectors market is classified as medium temperature collectors, low temperature, and high temperature collectors.

Fixed Array Solar Collectors Market: Notable Development

  • Owing to the fluctuating prices of fossil fuels, disasters such as Chernobyl and Fukushima invoke a questions regarding nuclear power as renewable energy sources, and the rising needs of power across the globe. Power has ecological concerns, so except water the other sustainable wellspring of energy on earth in plenty is solar energy.
  • The Earth gets 174 Petawatts of solar power consistently. It is the biggest source of energy on the Earth. Different sources like, coal, oil and gas, water, coal and so on require several efforts and steps to deliver power, solar energy farms can be built up effectively which can easily harness the power and is essentially supplied to grid.
  • In the past few years, a lot of research has been conducted in the field of solar cells to make the process of production simpler. It is also striving to reduce the size of and make it user-friendly. Efforts are also taken to improve the efficiency of fixed array solar collectors, which otherwise had a low efficiency level. Different techniques like nanocrystalline solar cells, thin film processing, metamorphic multi-junction solar cell, polymer processing etc. will help the future of this industry.
  • The global solar power production has been increased from 7 GW to 40 GW in the last four years. Study estimates that the scale of production of smaller activities like production of solar powered cars or solar powered motors for agriculture industry and many others will grow at a faster rate than the previous years.

Some of the most prominent competitors operating in the competitive landscape of global fixed array solar collectors market include –

  • Sharp Solar Energy Solutions Group
  • Canadian Solar Inc.
  • Wuxi Suntech Power Co.
  • Ltd., Trina Solar Limited
  • SolarCity Corporation.
  • Juwi Solar, Inc.
  • Activ Solar GmbH
  • First Solar Inc.
  • JinkoSolar Holding Co., Ltd.
  • Yingli Solar

Fixed Array Solar Collectors Market Dynamics

High Cost of Photovoltaic Cells to Hinder Fixed Array Solar Collectors Market

The major issue related to the solar power is the basic expenses of photovoltaic cells. This is likely to emerge as a key hindrance in the development of global fixed array solar collectors market. This price is a one-time investment.

Moreover, the solar panels have an extremely low maintenance cost. There are other factors such as solar power is a renewable source of energy. This is a key hindrance in the growth of global fixed array solar collectors market.

The issue is resolved by linking the solar panels to grid such that additional power can be stored and used later on. This unpredictability of solar power isn’t much in comparison to variation of oil and gas supply across the globe.

China to Emerge As Highest Grossing Nation in Global Fixed Array Solar Collectors Market

The global fixed array solar collectors market is categorized based on region into Asia Pacific, North America, Eastern Europe, Western Europe, and Japan. Among these, the fixed array solar collectors market is likely to be the highest grossing in China, owing to the biggest market of photovoltaic cells. Moreover, Germany is also running in the race for the deployment of these cell all over the nation. These are some of the leading countries contributing in the flooding demand in global fixed array solar collectors market.

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

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COVID-19 Impact

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The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?