Solar Water Heater Market was valued at US$ 5.06 Bn.in 2022. The global Solar Water Heater Market size is estimated to grow at a CAGR of 6.4% over the forecast period.
Solar Water Heater Market Scope
MMR’s research provides a comprehensive overview of the Solar Water Heater market, identifying the leading global companies based on factors such as volume, value, market share, strategies, and industry growth. The research also offers strategies for existing and new market entrants, and is expected to help businesses improve their market position. The report includes market revenue by region and country, as well as segmentation by type and end users.
Solar Water Heater Market Overview
The Global Solar Water Heater Market 2021 report by Maximize Market Research is a comprehensive analysis of the market, including its regional insights, changing trends, industry environment, and key players. The report is based on both primary and secondary research, and the results are presented in a logical and easy-to-understand format.
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Solar Water Heater Market Dynamics
The need for energy-efficient water heaters is anticipated to expand every year as a result of the increasing depletion of non-renewable resources, together with greater efforts to control energy use. This is anticipated to accelerate market expansion throughout the course of the forecast period. These systems are priced competitively to appeal to a wider spectrum of clients, regardless of their financial circumstances. Growing environmental consciousness in developed and emerging countries is expected to support business expansion.
The market is anticipated to grow as a result of rising consumer demand for water heating technologies that are reliable, affordable, and ecologically friendly, especially in the residential and commercial sectors. It is anticipated that the system’s ability to operate at lower costs—up to 75% less in the summer and 30% to 40% less in the winter—will encourage their adoption.
Solar Water Heater Market Segmentation
The market is divided into three segments based on technology: unglazed water collector, flat plate collector, and evacuated tube collector. In 2022, the Evacuated Tube Collector segment accounted for 46% of the market, the biggest share. It is anticipated that a high energy conversion potential (ETC), little storage demand, and low maintenance requirements will propel the market for evacuated tube collectors. In frigid areas, these systems are used for commercial and industrial purposes.
Over the course of the projection period, the flat plate collectors (FPC) segment is anticipated to rise significantly at a CAGR of 6.1%. One of the main things that will help these items take off is their straightforward design, which is paired with a low cost and simplicity of installation and use.
The market is divided into residential, commercial, and industrial segments based on the application. In 2022, the Residential category accounted for 49% of the market share, the biggest share. More money spent on building renovation and re-establishment, along with more disposable income, should lead to growth in the residential sector. It is superior to its rivals because of its capacity to integrate with conventional units in both new and current enterprises. Additionally, a rise in the need for replacing conventional systems and a heightened awareness of energy savings will accelerate the uptake of the product.
1. Global Solar Water Heater Market Size, by Technology (2022-2029)
• Evacuated Tube Collector
• Flat Plate Collector
• Unglazed Water Collector
2. Global Solar Water Heater Market Size, by System (2022-2029)
• Thermosyphon
• Pumped
3. Global Solar Water Heater Market Size, by Application (2022-2029)
• Residential
• Commercial
• Industrial
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Solar Water Heater Market Key Players
1. Azure Power India
2. Central Electronics
3. Chemtrols Solar
4. Euro Multivision
5. Indosolar
6. Jupiter Solar Power
7. Lanco Solar Private
8. Mahindra Solar One
9. Moser Baer Photovoltaic
10. Photon Energy Systems
11. PLG Power
12. Surana Ventures
13. Tata Power Solar Systems
14. Vikram Solar
15. Websol Energy System
16. XL Energy
17. SunTank
18. A.O. Smith
19. Alternate Energy Technologies
20. Rheem manufacturing
21. Viessmann
22. Wagner Solar
23. Bradford White
24. EMMVEE
Regional Analysis
The report is focused on the five most important regions for the Solar Water Heater market: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. These regions are responsible for the majority of the world’s Solar Water Heater consumption.
Key Questions answered in the Solar Water Heater Market Report are:
- What is Solar Water Heater?
- What is the forecast period of the Solar Water Heater Market?
- What is the competitive scenario of the Solar Water Heater market?
- Which region held the largest market share in the Solar Water Heater Market?
- What are the opportunities for the Solar Water Heater Market?
- What are the restraining factors in the Solar Water Heater market?
- Who are the key players of the Solar Water Heater market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Solar Water Heater#
- Landscape- Leading key players and other prominent key players.
- Price Trends
- Key Opinion Leaders Offerings
- Government Initiatives
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