Global Solar Water Heater Market Poised to Exceed $3 Bn by 2025

February 18, 2020


According to the latest research report titled ‘Solar Water Heater Market Size By Collector (Evacuated Tube, Flat Plate and Unglazed Water), By System (Thermosiphon, Pumped), By Application {Residential, Commercial (Educational Institutes, Offices, Government Buildings, Others), Industrial} Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, Austria, Spain, Turkey, Denmark, Italy, Switzerland, UK, China, Thailand, Australia, India, Japan, South Korea, Egypt, Jordan, Israel, South Africa, Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, Oman, Brazil, Barbados, Chile), Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global solar water heater market is slated to exceed US $3 billion by the year 2025.
 

According to the report, palpable efforts to curb GHG emissions stemming from fossil fuel driven systems, and emphasis on enhancing environmental performance index are expected to serve as a catalyst in fueling the expansion of solar water heater market. The systems tend to curb greenhouse gas emissions by around 400 kg every year. In addition, the advent of favorable government incentives such as tax rebates, tax credits, subsidies, and financial supports has boosted the adoption of renewable technologies and subsequently underscored the importance of solar water heaters (SWH).
 

Based on application, infusion of investments in construction and refurbishment of single and multi-family housing units and soaring PPP (Purchasing Power Parity) will have positive influence on residential solar water heater market size. Moreover, emergence of zero emissions building norms aimed at reducing GHG emissions and expanding the usage of renewable technologies are touted to drive the adoption of residential SWH system.
 

In terms of collector, evacuated tube collector segment is set to provide substantial revenue generating opportunities to solar water heater market stakeholders by 2025. Escalating demand for sustainable technologies in commercial and industrial spaces has fared well for end-users given the fact that evacuated tube collectors complement low O&M cost, less space requirements, and high conversion efficiency.
 

Based on system perspective, pumped solar water heater market share will observe a notable uptick on the heels of less heat loss, low winterization, and ease of integration with existing system features. Analysis of the taxonomy further alludes that fluctuation in fossil fuel prices and global push to curb electricity consumption are geared to have impact on the industry dynamics.
 

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With respect to geographical landscape, trend of reducing heat consumption from traditional systems, and affable regulatory measures to promote utilization of renewable resources are expected to bolster the U.S. solar water heater market forecast. For instance, the U.S. Department of Energy (DOE) came up with sun shot initiatives in collaboration with public and private participants in 2011 to curb solar electricity cost by whopping 75%.
 

Some of the leading companies of solar water heater market are A.O. Smith, Linuo Ritter, Bosch Thermotechnology, V-Guard, Wagner Solar, Racold, EMMVEE Solar, HiminSolar, Rinnai, Alternate Energy, Rheem, Bradford White, Chromagen, and Sun Tank.


Frequently Asked Questions (FAQ) :

According to the report, palpable efforts to curb GHG emissions stemming from fossil fuel driven systems and emphasis on enhancing environmental performance index are expected to serve as a catalyst in fueling the expansion of solar water heater market. The systems tend to curb greenhouse gas emissions by around 400 kg every year. In addition, the advent of favorable government incentives such as tax rebates, tax credits, subsidies, and financial supports has boosted the adoption of renewable technologies and underscored the importance of solar water heaters.
Infusion of investments in construction and refurbishment of single and multi-family housing units and soaring PPP (Purchasing Power Parity) will have positive influence on residential solar water heater market size. Moreover, emergence of zero emissions building norms aimed at reducing GHG emissions and expanding the usage of renewable technologies are touted to drive the adoption of residential SWH system.
Trend of reducing heat consumption from traditional systems and affable regulatory measures to promote utilization of renewable resources are expected to bolster the U.S. solar water heater market forecast. For instance, the U.S. Department of Energy (DOE) came up with sun shot initiatives in collaboration with public and private participants in 2011 to curb solar electricity cost by whopping 75%.
Some of the leading companies of solar water heater market are A.O. Smith, Linuo Ritter, Bosch Thermotechnology, V-Guard, Wagner Solar, Racold, EMMVEE Solar, HiminSolar, Rinnai, Alternate Energy, Rheem, Bradford White, Chromagen, and Sun Tank.