The global solar water heater market is heading toward an expansion phase. This is attributed to a significant surge in demand from residential and commercial end users. In addition, a rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero-emission norms is expected to drive market growth. The global solar water heater market was valued at $4.7 billion in 2019 and is projected to reach $6.7 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/8322
The solar water heater is a device, which captures sunlight to heat water. It collects heat with the help of a solar collector, and the heat is passed to the water tank with the help of a circulating pump. It helps in energy consumption as solar power is free in contrast to natural resources such as natural gas or fossil fuels.
The surge in demand for water heating systems in isolated and rural areas is anticipated to propel the market growth. Small-scale solar water heaters are predominately used in rural areas due to their low cost and high efficiency in various climate conditions. For instance, China has around 5,000 small & medium-scale solar water heater manufacturers and most of them serve in rural areas. In addition, substantial government support in terms of rebates and energy schemes is expected to further attract new customers, thereby enhancing the market growth.
Based on type, the glazed segment emerged as the market leader, owing to the high absorption efficiency of glazed collectors compared to unglazed collectors. However, the high price of glazed collectors may restrict their usage for small-scale applications.
𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/8322
Based on capacity, the 100-liter capacity segment accounted for a significant market share. This is attributed to the rise in demand in the residential sector. A low-cost solar water heater with a 100-liter capacity is sufficient for a family of 2-3 members in residential buildings.
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The Solar Water Heater industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐒𝐨𝐥𝐚𝐫 𝐖𝐚𝐭𝐞𝐫 𝐇𝐞𝐚𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,
Jiangsu Sunpower Solar Technology Co.,ltd
Zhejiang JiaDeLe Solar Energy Co., Ltd.
Solahart, Solav Energy
A. O. Smith India Water Products Pvt. Ltd.
Alternate Energy Technologies,
KODSAN
Himin Solar Energy Group
Ariston Thermo SpA
V-Guard Industries Ltd
The residential solar water heater segment accounted for a significant market share, owing to robust investment in the construction sector for the re-establishment and refurbishment of buildings. Most of these new buildings have solar collectors installed on the roof, which are connected to the water tank by means of a circulating pump.
North America accounted for a significant market share, owing to favorable government measures to promote solar power technologies for residential and commercial places.
𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/8322
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:
- Glazed sola water heater is projected to grow at the highest CAGR of approximately 6.2%, in terms of revenue, during the forecast period.
- By capacity, the others segment is anticipated to grow with a CAGR of 8.2%, in terms of revenue, during the forecast period.
- The Asia-pacific dominated the market with around 55% revenue shares in 2019.
𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝟏. 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐖𝐚𝐭𝐞𝐫 𝐇𝐞𝐚𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2021/10/18/2315804/0/en/Global-Electric-Water-Heater-Market-to-Reach-40-1-Billion-by-2030-Allied-Market-Research.html
𝟐. 𝐒𝐩𝐚𝐜𝐞-𝐁𝐚𝐬𝐞𝐝 𝐒𝐨𝐥𝐚𝐫 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2021/10/12/2312246/0/en/Global-Space-Based-Solar-Power-Market-To-Reach-902-2-Million-by-2030-Allied-Market-Research.html
𝟑. 𝐏𝐞𝐫𝐨𝐯𝐬𝐤𝐢𝐭𝐞 𝐒𝐨𝐥𝐚𝐫 𝐂𝐞𝐥𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/perovskite-solar-cell-market-to-reach-6-6-bn-globally-by-2030-at-32-4-cagr-amr-301407400.html
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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