Solar Chimney Market-Global Comprehensive Research & Forecast, 2019–2027

Report ID : KMR502 | Status : Upcoming

Overview

The temperature of the building can be regulated with the help of a passive solar heating and cooling system is called a solar chimney. It is also referred to as a thermal chimney. Glass roof collector, wind turbines and chimney are the major parts of solar chimney. Water present in the tubes gets heated with the help of air passed through the glazed glass roof. The heated water provides the heating by eliminating heat at the cold night. The solar chimney is used for providing natural ventilation in buildings. The solar chimney provides cooling in the daytime and the heat storage system delivers the heat at the night time. The solar chimney can operate for 20 hours that can generate up to 200MW of energy with high chimney and large glazed roof.


Growth Factors

The advanced infrastructure in developing countries and growing demand for technologically advanced energy systems are likely to fuel the global solar chimney market in the near future. Rapidly exhausting non-renewable sources is leading the inventors to focus on renewable sources. Solar energy is the most cost efficient and abundant when compared with other renewable resources. Solar chimney is comparatively new technique and is expected to capture healthy market share in the next few years. The solar chimney is cost-efficient, robust in construction and has a low maintenance cost. Rising Government investments in the field of solar energy coupled with the rising implementation of stringent Government regulations for environmental protection are guiding the demand for solar chimneys in the next few years. However, inefficient workforce, lack of technology in the field of solar energy and less efficient solar chimneys may hamper the growth of solar chimney market. Furthermore, rising awareness about solar energy as it offers huge cost benefits in comparison with other green energy sources.


Segmentation

Solar chimney market is classified on the basis of application and region. Based on application, the solar chimney market is bifurcated into residential and industrial. The industrial solar chimney market is the largest market segment owing to huge demand from industrial segment for cost effective cooling.


Regional Analysis

The solar chimney market is segmented into North America, Latin America, Europe, Asia-Pacific, and the Rest of the World. North American solar chimney market is the largest segment owing to the high adaption of solar chimney models in the green buildings. Whereas, the Asia Pacific solar chimney market is expected to grow at the highest CAGR owing to the growing number of industries and growing investment from government in the field of renewable energy sources. Middle East market is also anticipated to grow at higher CAGR owing to huge investment made by UAE and Saudi Arabia governments in the field of solar energy and the rising awareness about the advantages of solar chimney.


Major Players
Major players dominating the global solar chimney market includeHelioakmi S.A., Solar Innovations Inc., EnviroMission Limited and Specflue Ltd. In order to gain the market share and competitive advantage, different strategies are being adopted by these players like the expansion, new product launch, product differentiation, and merger & acquisition.
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