Solar Water Heater Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

A solar water heater consists of a solar panel, a water storage tank and an inverter system. The sunlight which falls on the solar panels is utilized for heating the water inside the insulated storage tank either by a pump or directly with the thermosiphon principle. According to the thermosyphon principle, the fluid circulation is on the basis of the natural convention, where warm water rises and is replaced by cold water. Some of the advantages of solar water heaters over other types of water heaters include cost-effectiveness and less dependence on the different kind of fossil fuels. These heaters are normally installed on the rooftop of building where the intensity of sunlight is maximum all over the day.

MARKET DYNAMICS

The major factors driving the growth of the solar water heater market are stringent government regulations against GHG emissions, high demand for hot water from hospitals and hotels and replacement of existing water heaters. Further, the emerging demand for HWHs is likely to offer significant growth opportunities for the solar water heater market in the near future. However, the lack of consumer awareness is one of the restraints of the market.

MARKET SCOPE

The "Global Solar Water Heater Market Analysis to 2031" is a specialized and in-depth study of the solar water heater industry with a special focus on the global market trend analysis. The report aims to provide an overview of solar water heater market with detailed market segmentation by collector, system, application and geography. The global solar water heater market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar water heater market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global solar water heater market is segmented on the basis of collector, system and application. Based on collector, the market is segmented as evacuated tube collectors, flat plate collectors and unglazed water collectors. Based on system, the solar water heater market is divided into thermosiphons system and pumped system. On basis of application, the market is bifurcated into residential, commercial and industrial.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global solar water heater market based on various segments. it also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The solar water heater market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting solar water heater market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for the solar water heater market for each region.

MARKET PLAYERS

The reports cover key developments in the solar water heater market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from solar water heater market are anticipated to lucrative growth opportunities in the future with the rising demand for solar water heater in the global market. Below mentioned is the list of few companies engaged in the solar water heater market.

The report also includes the profiles of key solar water heater companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key development in the past five years.

•  A. O. Smith Corporation
•  Alternate Energy Technologies, LLC
•  Bosch Thermotechnik GmbH
•  Bradford White Corporation
•  Chromagen Ltd.
•  Rheem Manufacturing Company
•  SunTank
•  V-Guard Industries Ltd.
•  Viessmann Manufacturing Company Inc.
•  Wagner Renewables Ltd.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Solar Water Heater Report Scope