San Francisco, California, June 13, 2017: The volatile prices of oil and gas are paving way for the extensive research and development activities for the exploitation of solar energy. These activities have provided significant traction to the global solar pond market. Over the past few years, the solar pond technology has emerged as one of the most practical means of collecting solar energy. A report by TMR Research, titled “Solar Pond Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” provides an in-depth analysis of the market. The report takes the historic and current scenario into consideration to predict the future trends of the global solar pond market.
The rising awareness regarding renewable energy resources and the increasing adoption of solar as a practicable energy form is stoking the growth of the market. Owing to the numerous benefits offered by the solar pond technology, they are being increasingly adopted as substitutes to fossil fuels in industries such as dairy and food canning. On the flip side, the contamination of ground water due to the technology is emerging as an environmental issue, which in turn is inhibiting the growth of the market. Moreover, the lack of cheap salt in a region could challenge the installation of solar ponds, thereby negatively impacting the growth of the market worldwide.
However, the low initial investment requirement is rendering the solar pond market highly opportunistic. Furthermore, the dearth of proper grid infrastructure, especially in rural areas, is likely to encourage the installation of solar ponds.
Geographically, Asia Pacific will be a prominent market for the solar pond market. The snowballing energy requirements along with the aggressive renewable power targets is supplementing the growth of the region. The increasing research and development activities and a large number of ongoing projects are contributing to the growth of APAC. North America and Europe will also account for a considerable cumulative share in the arena, owing to numerous experimental projects successfully established. Latin America and Africa, on the other hand, will register sluggish growth during the forecast period.
The global solar pond market is characterized by the presence of a handful of players. However, the immense potential of the market is likely to attract new players to foray into the market. A raft of solar technology players is collaborating with research institutes to stay ahead in the market. Some of the prominent companies operating in the global solar pond market are Pyramid Salt Pty Ltd., Geo-Eng Australia Pty Ltd., Arava Power, Solvay, and the University of Texas.