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.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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