Global Solar Water Heater Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026
MarketResearch.biz delivers in-depth insights on the global solar water heater market in its upcoming report titled, “Global Solar Water Heater Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global solar water heater market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global solar water heater market report has been segmented on the basis of system, collector type, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Solar water heaters also known as solar hot water systems are devices that covert solar energy/sunlight into heat using a solar thermal collector. The sun's thermal energy heats the fluid in the solar collectors/ panels. The heated fluid is then passed through a heat exchanger in the storage tank, wherein the heat is then transferred to the water. The non-freezing fluid then cycles back to the collectors.
Increasing need to reduce energy cost and rising concerns related to greenhouse gases are major factors driving growth of the global solar water heater market. In addition, government subsidies on adoption of renewable source of energy and increasing awareness among individuals regarding importance of energy conservation are other factors expected to further drive growth of the global market to a significant extent over the forecast period. Moreover, replacement of conventional heating system with solar water heaters is another factor expected to fuel growth of the global market.
High initial cost of solar water heaters is a major factor restraining growth of the global solar water heater market. However, technological advancements towards development of more efficient thermal collectors so as to enhance heaters efficiency and to cut-down the cost, is another factor that is expected to create opportunities for major manufacturers and vendors in the global market over the forecast period.
High manufacturing cost and fluctuating raw material prices are key factors hampering growth of the Global Wireless Microphone Market . The current trend observed in the market is increasing demand for flexible wearables, smart watches, and flexible displays, which is another factor expected to further support growth of the target market. Increasing adoption of flexible electronics in smart applications is expected to present lucrative business opportunity to major manufacturers and vendors in the global market over the next 10 years.
AsaiNorth America market accounts for significant share in the global solar water heater market in terms of revenue. Favorable government policies and regulations, and increasing adoption of solar operated thermal system by residential and commercial sector are major factors driving growth of the North America solar water heater market. The Europe solar water heater market accounts for second highest revenue share in the global market and is expected to witness significant growth and is expected to register a CAGR of X.X% over the forecast period. The Asia Pacific solar water heater market is expected to witness highest growth and is projected to register a CAGR of XX.X% over the next 10 years. This growth can be attributed to increasing electricity cost, rising concerns related to greenhouse gases, increasing government subsidiaries on use of renewable source of energy in countries such as India, China, Japan, etc. in this region.
Global solar water heater market segmentation:
Segmentation on the basis of system:
Segmentation on the basis of collector type:
- Evacuated Tube Collector
- Flat Plate Collector
- Unglazed Water Collector
Segmentation on the basis of application:
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- O. Smith India Water Products Pvt. Ltd.
- Emmvee Solar Systems
- Tata Power Solar Systems Ltd.
- Alternate Energy Technologies
- Viessmann Manufacturing Company Inc.
- Wagner & Co. Solar Technology
- Azure Power Global Limited
- Bradford White Corporation
- LINUO RITTER INTERNATIONAL CO. LTD.
- Chromagen Ltd.
- Himin Solar Energy
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