Economic Benefits of Trapping Solar Energy Drives Use of Solar Furnace

San Francisco, California, August 22, 2017: TMR Research’s new report on the global solar furnace market examines key growth trends and product innovations to present a clear picture of developments in the aforementioned market for the forecast period between 2017 and 2025. The growth analysis of the solar furnace market is based on scrutiny of data collected from reliable industry sources and insightful inputs received from industry experts.

The global solar furnace market is expected to gain from the growing need to use solar energy as an economical substitute to fossil fuel based energy. This is because solar furnace or concentrator technology is an effective medium for trapping solar energy to be converted into electrical energy. The framework of a solar furnace consists of a primary solar collection arrangement and static parabolic concentrator. Due to the make-up, solar furnaces find small-scale as well as large-scale applications ranging from cooking without the firewood to electricity generation.

The rising acceptance of solar energy to become mainstream for energy needs and the elevating awareness about shifting to renewable sources of energy for environment sustainability are boosting the adoption of solar furnace technology. The technology can be used to generate steam for electricity generation and for pasteurizing water in large scale applications. Solar furnace technology can also be implemented in off-grid applications. Apart from this, solar furnace finds application for controlling heat generation in processes that involve high temperatures as well as in industries that employ blast furnaces.

On the flip side, limited use of solar furnace technology for commercial applications and high initial deployment cost is proving to be a roadblock to the growth of global solar furnace market. Nevertheless, efforts to reduce initial costs and efforts for renewable sources to generate utility-scale energy are expected to bode well for the growth of this market which is presently at nascent stage.

Solar furnaces allow precise control of temperature wherever it is placed as per the requirement. Solar furnace technology can be used to study material properties at varying elevated temperatures.

The report studies the global solar furnace market based on the key segments of North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. At present, France holds the leading solar furnace facility in the world, which is spread across an area of almost 2,000 square meters. Some other leading solar furnace facilities in the world are located in Europe and the U.S.

Some of the key players that operate in the global solar furnace market are Prosolartec, Sun Power, Solartron Energy, Abosolicon, Nordic Green, and GT Advanced Technologies.

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