Solar Air Conditioning Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025
Nowadays, the consumption of electricity for air-conditioning has increased dramatically across the world. The usage of solar energy for air-conditioning opens up an array of alternatives and a massive unexploited potential for market players. Since the technology is relatively new, the global market for solar air-conditioning is still in its nascent stage. However, a strong interest of investors as well as vendors in this technology is evident. At the same time, the dearth of knowledge about this technology creates hindrances for these players, owing to which they have begun to emphasize more on the development of customized training programs and circulating information materials in their target groups.
Hitherto, small- and medium-sized systems are not much popular among end users, which may create barriers for the further development of this technology. Moreover, the high cost of solar air conditioning systems, compared to standard cooling appliances, dearth of adequate technical and financial support, very few experiences and materialized applications, and inadequate monitoring of data and follow up activities may disturb the growth pace of this otherwise steadily rising market for solar air conditioning across the world. Going forward, the uniform and consistent planning will contribute significantly towards increasing awareness and acceptance of this technology among end users, reflecting on the number of installed applications and leading towards a positive future of this solar air conditioning market.
Solar air conditioning systems are the applications of solar thermal energy which gives out conditioned air through a thermally driven refrigeration process. The employment of conventional air conditioning devices surpluses the power grid, which causes vital service disruptions and severe economic impact. The use of conventional air conditioning devices increases concerns over environmental pollution, basically in the form of the greenhouse gas emissions, which adversely impacts the climate. The rising demand for energy, growing government endowments and subsidies for deployment of solar devices, policies and regulations such as renewable portfolio standards, and the rising focus on renewable energy as an important source for power generation is anticipated to bolster the demand for solar air conditioning market globally.
This industry research report is a brief review of the growth trail in terms of existing, past, and future scenarios of the global solar air conditioning market. It deals with the evaluation of the aspects that are expected to influence the development of the solar air conditioning market and the primary trends have also been specified in the research study. The research study also offers a broad lookout on the vendor landscape of the market through Porter’s five forces analysis. The research report offers references of the research and development activities, mergers and acquisitions, and specifics on licensing and collaborations. The report probes into the strategies related to publicity, shares, and product range of the key participants in the global solar air conditioning market.
The global solar air conditioning market devices is expected to grow extensively owing to the various benefits associated with the use of solar air conditioning devices. The profits of deploying solar air conditioning devices instead of the conventional air conditioning devices comprise pressure alleviation upon the power grids, potential environmental benefits, and substantial upsurge in its application for residential, commercial, and industrial constructions. The factors that are likely to impact the growth of the solar air conditioning market relate to building characteristics, ignorance, social aspects, and market aspects.
The finances of solar cooling are unfavorable as against the traditional air cooling systems in terms of the high cost of solar collector and the dearth of incentives for building owners to install solar air conditioning devices. The augmented production volumes of solar collectors can be enthused by subsidies and by inspiring building owners to install energy efficient solar air conditioning systems. This can be done by providing a market recognition mechanism which can offset the economic barriers. This, in turn is expected to boost the demand for the solar air conditioning devices.
In terms of geography, Europe is anticipated to hold a significant amount of share in the global solar air conditioning market owing the initiatives taken by the governments in the regions in order to increase the share of renewable sources of energy in the total power-mix of the region. Countries such as France, Germany, Greece, and Spain have begun with small-scale deployment of solar air conditioning devices, especially for commercial buildings. North America and Asia Pacific are expected to show very promising growth rates in the near future.
The companies in the global solar air conditioning market are Vicot Air Conditioning Co. Ltd., Solair World, Sedna Aire International, Lennox International Inc., and Arka Technologies.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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