Kings Research today announced the release of its latest market intelligence study, “Global Tubular Solar Collector Market: Size, Share, Trends & Forecast 2024–2031.” The report provides a detailed analysis of market growth drivers, emerging innovations, regulatory frameworks, and competitive strategies in the global renewable energy sector.
According to Kings Research, the global tubular solar collector market was valued at USD 5,450.0 million in 2023 and is projected to expand from USD 5,724.1 million in 2024 to USD 8,394.2 million by 2031, registering a CAGR of 5.62% during the forecast period.
This expansion is supported by rising adoption of solar thermal technologies in residential, commercial, and industrial sectors, as well as government-backed incentives for clean energy, advances in hybrid solar systems, and increasing awareness of carbon reduction.
Tubular solar collectors utilize evacuated glass tubes to absorb solar radiation and transfer thermal energy to a heat transfer fluid. A vacuum between the inner and outer tubes reduces heat loss, enhancing efficiency even in low-light and cold-weather conditions. These systems are widely applied for residential heating, commercial water heating, and industrial thermal processes, offering a low-carbon, energy-efficient solution.
Kings Research identifies the following growth accelerators for the tubular solar collector market
- Strong Government Incentives and Policy Frameworks
The IEA reports that in 2023, global renewable heat consumption is rising, with solar-thermal use in buildings projected to grow ~40% during 2023–2028. Under the updated Renewable Energy Directive (RED III, 2023), the EU has set a binding target for at least 42.5% of gross final energy consumption to come from renewables by 2030.
In India, the MNRE’s renewable targets aim for 500 GW of non-fossil fuel capacity by 2030, reinforcing the country’s push for solar and thermal systems (Source: www.pib.gov.in). In the U.S., the Inflation Reduction Act extends the 30% Investment Tax Credit (ITC) for eligible renewable energy projects (including solar technologies) through at least 2025, aiding deployment of solar thermal and related technologies.
- Advancements in Solar Technology
Ongoing innovations such as selective coatings, advanced insulation, automated smart controllers, and hybrid photovoltaic-thermal (PVT) systems are significantly improving efficiency and lowering costs. Hybrid collectors integrating PV and thermal functions are enabling dual energy generation, improving energy independence and space efficiency.
- Rising Demand for Hybrid Solar Systems
The integration of tubular solar collectors with PV panels is an emerging trend that enables simultaneous production of electricity and heat. This dual function increases system ROI and makes adoption more appealing for residential and commercial applications. - Commercial & Industrial Sector Adoption
The commercial sector accounted for 52% of market share in 2023, driven by demand for energy-efficient heating in offices, hospitals, and hotels. Industrial applications, such as process heating, are also increasingly adopting solar thermal solutions to offset fossil fuel costs and emissions.
Tubular solar collectors offer critical benefits for residential, commercial, and industrial sectors
- Operational Efficiency: Low-maintenance systems reduce downtime and enhance long-term reliability.
- Cost Savings: Extended equipment life and lower operating costs reduce overall expenditure.
- Sustainability: Eco-friendly designs contribute to emissions reduction and compliance with climate policies.
- Energy Independence: Hybrid systems and TES integration provide stable energy supply while reducing reliance on grid power.
Regional Outlook
- Asia-Pacific: Leading with 36.63% share (USD 1,996.3 million in 2023), driven by large-scale adoption in China, India, and Japan. Favorable policies, rapid industrialization, and off-grid demand strengthen growth, with a projected CAGR of 6.19% (2024–2031).
- Europe: Expected CAGR of 5.82%, underpinned by EU carbon-neutrality goals, strong subsidy frameworks, and ongoing technological innovation.
- North America: Growth supported by tax credits, rising commercial adoption, and integration into green building certifications (LEED).
- Middle East & Africa: Increasing adoption in UAE and Saudi Arabia, leveraging high solar irradiance and government diversification programs under Vision 2030 initiatives.
Competitive Landscape
The global tubular solar collector market is competitive, with players focusing on R&D, patents, and strategic partnerships. Key companies include TVP Solar, Sunmaster, Solar Solutions LLC, Thermomax Marketing Group, SunMaxx Solar, Solarbayer, and Jiangsu SolarEast.
The full Kings Research report provides detailed segmentation by type, application, and region, as well as competitive benchmarking. To request a sample or access the complete report, visit https://www.kingsresearch.com/tubular-solar-collector-market-1398
About Kings Research
Kings Research is a global provider of syndicated research reports and consulting services, helping organizations navigate emerging markets, assess opportunities, and make informed business decisions.
All market data are sourced from Kings Research proprietary analysis, validated against credible public sources such as the International Energy Agency (www.iea.org), European Commission (ec.europa.eu), U.S. Department of Energy (energy.gov), Solar Rating & Certification Corporation (www.solar-rating.org), and the Press Information Bureau of India (pib.gov.in).