According to Stratistics MRC, the Global Solar Water Heater Market is expected to grow at a CAGR of 9.0% during the forecast period. Factors such as Growing number of advancements and improvements in terms of technology & durability and growing demand for high-quality solar water heaters are fueling the market growth.. However, low category penetration due to heavy initial installation and maintenance costs is limiting the expansion of the solar water heater market. One of the major trends in the market is introduction of numerous targets to diminish carbon emissions and encourage the expansion of renewable energy.
Solar water heater is a device that can be used to capture sunlight to heat the water. It primarily consists of thermal panel, tank, circulating pump and thermal regulator. It is commonly used for residential and some industrial applications. By End user, residential segment is expected to drive the growth of the market throughout the forecasted period. Growing government incentives and the implementation of rules mandating the use of solar water heaters in different countries across the world are some of the factors propelling the market growth.
By distribution channels, home improvement stores segment accounted for the largest market share in the global market due to increasing number of investments in devising account management, supply chain management strategies, and enhancement of product assortment.
By Geography, Asia Pacific is anticipated to dominate the maximum market share due to the rising number of solar water heater installations in countries such as China and India.
Some of the key players profiled in the Solar Water Heater Market include Rinnai Corp, V Guard Industries, Linuo Ritter, Chromagen Ltd., Racold, Himin Solar Energy, Bosch Ltd, Bradford White Corporation, Rheem manufacturing, A.O. Smith, Wagner Solar UK, Alternate Energy Technologies, SunTank, Viessmann Manufacturing, EMMVEE Solar Systems, Jinyi Solar and Genersys.
- Flat plate collector
- Unglazed water collector
- Evacuated tube collector
Distribution Channels Covered:
- Local hardware stores
- Online stores
- Plumbing supply stores
- Home improvement stores
- Chain and Hardware stores
- Domestic water heating
- Large domestic water heating
- Swimming pool heating
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements