Solar Water Heater Market Analytical Overview and Growth Opportunities by 2030

The Solar Water Heater market's expansion can be primarily due to the rising demand for energy-efficient water heating systems that are also environmentally friendly in order to reduce carbon footprint. Along with these, rising solar heater usage brought on by falling prices is anticipated to accelerate market growth in the years to come. China alone accounted for roughly 338 gigawatts of the world's total solar water heating capacity in 2018, or about 70% of it. Furthermore, it is anticipated that the industry will soon have a wealth of development potential due to the expanding number of government initiatives aimed at decreasing emissions and meeting renewable energy goals, as well as the spike in infrastructure investments.

 Residential, commercial, and industrial end-user segments make up the market; of these, it is predicted that the residential segment would account for the biggest proportion of the global market for solar water heaters. This can be attributed to the rise in investments in the renovation and re-establishment of existing residential establishments using sustainable construction methods, as well as the growth in the construction of green residential structures. In addition, the glazed sector is anticipated to grow at the fastest rate among all types over the course of the projection period due to the higher solar efficiency offered by these heaters. In addition to these, glazing decreases the temperature difference between the water entering and leaving the absorber, which is also expected to increase market segment growth.

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 Technology Perspectives

Demand for evacuated tube collectors is anticipated to increase because to its minimal maintenance requirements, modest storage needs, and significant potential for energy conversion (ETC). The market for these systems was worth USD 886.9 million in 2016, and they are favoured for industrial and commercial applications in chilly climates.

 By 2025, flat plate collector (FPC) volume is anticipated to reach 863.6 thousand units. One of the key features that encourages the acceptance of these goods is their straightforward design, which is combined with their reasonable pricing, ease of installation, and ease of use. In the smaller commercial and residential sectors, FPC units are widely desired.

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 Key Trends of Global Solar Water Heater Market:

 Solar energy saves a lot of non-renewable energy

 Solar water heaters prove to be advantageous, as they heat water solely on the basis of solar radiations without the requirement of any other fuel. Use of solar energy saves a lot of non-renewable energy required for heating water. Governments of several countries and regional regulatory bodies have been emphasizing on substituting non-renewable energy sources with renewable ones. Nowadays, large builders and construction companies provide solar water heater systems in residential complexes and commercial complexes such as hotels, hostels, and lodges as a part of the amenities.

 Segmental Analysis of Global Solar Water Heater Market:

 Based on Type

• Glazed

• Unglazed

 The glazed water heater segment accounted for significant market share, owing to high efficiency of glazed collectors. Glazed water heater can absorb much sunlight than unglazed water heater, which makes it suitable for different climates throughout the year.

 Based on Capacity

• 100 L

• 150 L

• 200 L

• Others

 Solar water heater of 200 Liter capacity accounted for highest market share. This is attributed to rise in demand from the residential sector for various small scale applications in household.

 Based on End-user

• Residential

• Commercial

• Industrial

 The residential solar water heater segment accounted for significant market share, owing to rise in investment in the construction sector in re-establishment and refurbishment of buildings. The commercial solar water heater segment is expected to witness steady growth.

 Competitive Landscape:

Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN, Solav Energy, Zhejiang JiaDeLe Solar Energy Co., Ltd., Solahart, Jiangsu Sunpower Solar Technology Co.,ltd, A. O. Smith India Water Products Pvt. Ltd., and Alternate Energy Technologies.

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 Frequently Asked Questions

• Which regional segment accounts for the largest revenue in the Global  Solar Water Heater Market?
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