The global solar water heater market is projected to grow at a high rate during the forecast period, mainly due rising demand for replacement of existing water heaters and policy support from government to enable adoption of renewable technologies. As per European Commission, it is estimated that USD 28.44 billion is required to be invested in renewable sources by the government between 2020 and 2050. This would lead to increase in the use of solar water heaters across Europe.
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.
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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.
Industry Segmentation
Global solar water heater market has been segmented based on type, collector type, application, and region.
Based on type, the market is classified into pumped and thermosyphon. Thermosyphon segment is leading the market and has the largest market share, mainly due to low pricing and ease of installation and usage of the product.
The global solar water heater is further segmented based on application, including residential, commercial, and industrial. Residential segment of the global solar water heater market is estimated to register the highest growth rate during the forecast period.
Key Players:
The key players of 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.
Regional Analysis
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.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
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List Of Tables
Table 1 Global Solar Water Heater Market, By Region, 2016-2023 (USD Million)
Table 2 North America Solar Water Heater Market, By Country, 2016-2023 (USD Million)
Table 3 Europe Solar Water Heater Market, By Country, 2016-2023 (USD Million)
Table 4 Asia-Pacific Solar Water Heater Market, By Country, 2016-2023 (USD Million)
Table 5 Middle East & Africa Solar Water Heater Market, By Country, 2016-2023 (USD Million)
Table 6 South America Solar Water Heater Market, By Country, 2016-2023 (USD Million)
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List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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