Solar Thermal Market in Europe by Technology and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR46573

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The solar thermal market size in Europe has the potential to grow by 0.54 TWh during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.94%. 

This report provides a detailed analysis of the market by technology (low and medium temperature and high temperature), geography (Spain and rest of Europe), and key vendors. 

Market Overview


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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 


  • Aalborg CSP AS
  • Abengoa SA
  • Acciona SA
  • Bosch Thermotechnik GmbH
  • BrightSource Energy Inc.
  • Cosmosolar
  • GREENoneTEC Solarindustrie GmbH
  • SENER group
  • Vaillant GmbH


The solar thermal market in Europe is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the change in the energy mix to achieve growth opportunities. However, factors such as the intermittency of solar resources will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the solar thermal market forecast report of Europe for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This solar thermal market analysis report of Europe also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Solar Thermal Market in Europe: Key Drivers and Trends

  • The change in energy is one of the major factors that will have a positive impact on the growth of the solar thermal market in Europe. 
  • Fossil fuels are extensively used to meet the growing need for power and heat. However, the growing environmental concerns are resulting in an increased demand for a clean and efficient power source.
  • The growing focus on achieving economic, social, and environmental development will replace the need for fossil fuels with renewable sources.
  • Investments in renewable energy such as solar thermal energy are increasing due to low carbon emissions from renewable sources.
  • The emergence of smart cities is identified as one of the key solar thermal market trends in Europe during the forecast period.
  • The number of smart city projects is increasing in Europe.
  • The European innovation partnership on smart cities and communities (EIPSCC) launched by the European Commission is resulting in an increased number of such projects.
  • Several projects are also funding for smart cities that focus on low-carbon, clean, and efficient energy. 


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Solar Thermal Market in Europe: Segmentation by Geography


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91% of the market’s growth will originate from Spain during the forecast period. However, market growth in Spain will be slower than the growth of the market in the rest of Europe.

The decrease in the prices of CSP with thermal energy storage will facilitate the solar thermal market growth in Spain over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Solar Thermal Market in Europe: Segmentation by Technology


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The low and medium temperature segment primarily includes the small- and medium-scale solar water heating systems for residential and commercial buildings. The segment is facing severe competition from the PV systems and the heat pumps. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar thermal market size in Europe. Fetch actionable market insights on post COVID-19 impact on each segment.   



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Solar Thermal Market in Europe: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive solar thermal market growth in Europe during the next five years
  • Precise estimation of the solar thermal market size in Europe and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar thermal industry across Spain and rest of Europe
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar thermal market vendors in Europe 

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Technology by Volume

    • Market segments
    • Comparison by Technology by volume
    • Low and medium temperature - Market size and forecast 2020-2025 (TWh)
    • High temperature - Market size and forecast 2020-2025 (TWh)
    • Market opportunity by Technology by volume

    Customer landscape

    • Customer landscape

    Geographic Landscape by Volume

    • Geographic segmentation
    • Geographic comparison
    • Spain - Market size and forecast 2020-2025 (TWh)
    • Rest of Europe - Market size and forecast 2020-2025 (TWh)
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption
    • Competitive scenario

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Aalborg CSP AS
    • Abengoa SA
    • Acciona SA
    • Bosch Thermotechnik GmbH
    • BrightSource Energy Inc.
    • Cosmosolar
    • GREENoneTEC Solarindustrie GmbH
    • SENER group
    • Vaillant GmbH


    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts



    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis


    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The solar thermal market growth will increase by $0.54 TWh during 2020-2025.
    The solar thermal market is expected to grow at a CAGR of 1.94% during 2020-2025.
    Technavio has segmented the solar thermal market by technology volume (Low and medium temperature and High temperature) and geographic (Spain and Rest of Europe).
    Aalborg CSP AS, Abengoa SA, Acciona SA, Bosch Thermotechnik GmbH, BrightSource Energy Inc., Cosmosolar, DEL PASO SOLAR SL, GREENoneTEC Solarindustrie GmbH, SENER group, Vaillant GmbH are a few of the key vendors in the solar thermal market.
    Spain will register the highest growth rate of 90.74% among the other regions. Therefore, the solar thermal market in Spain is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the solar thermal market growth are:
    • Increasing demand for CSP
    The solar thermal market vendors should focus on grabbing business opportunities from the low and medium temperature segment as it accounted for the largest market share in the base year.
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