Global Solar
Water Heater Market Overview:
Solar water heaters provide
hot water for several sectors like industrial, commercial, and residential
applications. The system stores solar energy using flat-plate collector,
evacuated tube collector, and unglazed water collector and the process saves
energy bills. The global solar water heaters market is expected to rise by 8.5%
during the forecast period (2018-2023). Market Research Future (MRFR) claims
that the CAGR attained during the period would help the global solar water
heaters market in crossing the estimated market valuation.
The market is primarily
getting driven by government initiatives to curtail carbon production and save
non-renewable resources. Increasing applications in the construction sector is
expected to push the global solar water heaters market forward. Advanced
technology is further easing the process of solar water heater integration in
different industries. The technology is gaining traction due to its ability to
reduce cost and bill for housing sectors which is why, the global solar water
heaters market is expected to grow rapidly.
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Solar Water
Heater Market Segmentation:
The global solar water
heater market, as per the reports published by MRFR, is segmented by type,
collector type and application. The segmentation aims at unraveling details of
the market for a better analytical approach that would help in gaining overview
of the market for the upcoming days.
Based on the type, the
solar water heater market includes pumped and thermosyphon. The thermosyphon
segment has the maximum market coverage and generates the highest revenue
between the two. The credit goes to low pricing and easy installation &
usage of the product.
Based on the application,
the solar water heater market comprises residential, commercial, and
industrial. The residential segment is
expected to record the highest growth rate during the forecast period.
Increasing number of construction and initiatives taken to promote smart
buildings are expected to promote the market extensively.
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Regional
Analysis:
MRFR in its region-specific
analysis of the global solar water heater market delves deep into the market
demography of five regions like North America, Asia Pacific (APAC), Europe,
Middle East & Africa (MEA), and South America.
The APAC market has the maximum
market coverage and the regional market is gaining pace due to the happening
residential sector that is following the smart home and eco-friendly housing
models. The region has the highest number of people living here and the
residential market is not going to plummet in any time soon. Rise in renewable
energy can also be witnessed and government regulations are helping the
regional residential and commercial sector substantially to take the market
forward.
Europe is doing well in the
market as the region has pro-environment policies in place now for a long time.
This has helped the regional housing sector implement latest technologies to
ensure the solar water heater methods. North America is also walking on the
same line owing to which high growth is possible in the coming years.
Competitive
Landscape:
Influential companies are
making a strong road for the global solar water heater market by deploying
innovative strategies which boosted not just their production but ensured
growth for the market as well. MRFR enlisted several companies of high
importance and profiled them for a better understanding in the coming years.
These companies 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), Wagner Solar
(UK), and others.
About Market
Research Future:
At Market Research Future (MRFR), we enable our
customers to unravel the complexity of various industries through our Cooked
Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research
Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting
Services.
Contact:
Market Research Future
+1 646 845 9312
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