Solar Water Heater Market Highlights:
Solar Water Heater Market share is projected to exceed USD 7 billion by 2027, growing at a CAGR of 8.5% during the forecast period.
Solar water heater is a device which provides hot water for industrial, commercial, and residential applications. A solar water heater comprises of an array of collectors to collect and store solar energy. There are mainly three types of solar collectors that are used in residential applications such as flat-plate collector, evacuated tube collector, and unglazed water collector. Solar water heater is majorly used to save energy bills. Moreover, the domestic and commercial consumers are entitled to claim renewable heat incentive for generating heat energy.
Based on application, the market is segmented as residential, commercial, and industrial. Residential segment is estimated to dominate the market during the forecast period due to the increasing demand for energy efficient water heater and rising investment in construction activities. The installation is majorly taking place in Europe, North America, and Asia Pacific. Considering the type, the market is segmented as pumped and thermosyphon. Thermosyphon accounts for largest share in the solar water heater market due to affordable pricing and convenient usage.
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- What is “Solar Water Heater” Market?
- Who are the Top Market manufacturers?
- Which are the most Business Regions across the globe?
- How big is the “Solar Water Heater” Market in upcoming Years?
- What are the Latest developments/industry updates in the “Solar Water Heater” Market?
2022 - 2030
Market Growth value
8.5 % CAGR
Revenue forecast in 2022-2030
USD 7 billion
Base year for estimation
2019 – 2020
USD Billion, CAGR (2022 – 2030)
By Application, By End-Use, and By Region
Market Research Analysis:
Asia Pacific accounts for the largest market share in the Solar Water Heater Market
Region wise, Asia Pacific held the largest market share of the global solar water heater market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in renewable energy sources and high demand for solar water heaters by the residential and commercial complexes. The solar water heater market would be mainly driven by the favorable government regulations against greenhouse gas emissions.
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Scope of the Report
This report provides an in-depth analysis of the global solar water heater market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the solar water heater market by its type, collector type, application, and by region.
- By Type
- By Collector Type
- Evacuated Tube Collector
- Flat Plate Collector
- Unglazed Water Collector
- By Application
- By Regions
- North America
- Middle East & Africa
- South Africa
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The key players of the global solar water heater market are Rheem Manufacturing (US), A.O.Smith (US), SunTank (South Africa), Bradford White Corporation (US), Bosch (Germany), Honeywell Corporation (US), Racold (India), Alternate energy Technologies (US), Viessmann Manufacturing (US), and Wagner Solar (UK), among others.