All updated as on -
In 2022, the market size for solar water heaters was estimated at USD 3.7 billion. It is anticipated that the market for solar water heaters would increase from USD 4.07 billion in 2023 to USD 7.76 billion by 2030, with a compound annual growth rate (CAGR) of 9.50% over the five-year forecast period (2023– 2030). The main factors boosting market expansion are expanding efforts to reduce energy availability and usage around the globe.
The market CAGR for solar water heater is being propelled by a rise in environmental consciousness among the populace. Consumers are looking for strategies to lower their energy expenses as energy costs climb further. Solar water heaters are a great answer to this issue because they heat water using the sun's energy, which is free and renewable. Additionally, as more people become aware of how traditional energy sources affect the environment, they search for more environmentally friendly substitutes. Solar water heaters are an excellent approach to lower carbon emissions and contribute to environmental protection.
Incentives and regulations are also being offered by numerous governments worldwide to promote the use of solar water heaters. These incentives could come in the form of tax breaks, money back guarantees, or installation-related grants. Governments may in some circumstances even demand the construction of solar water heaters in particular kinds of structures. Solar water heaters are now more effective and inexpensive than ever thanks to technological advancements. Solar water heaters are now a more appealing alternative for customers because to advancements in design and performance brought about by new materials and production processes.
The adoption of solar water heaters is being driven by the rising demand for environmentally friendly and energy-efficient homes. Solar water heaters are an excellent method to accomplish both of these objectives. Many homeowners are seeking for solutions to lessen their carbon footprint and their energy costs.
China has, for instance, taken the lead in promoting solar water heaters. The government has put in place a number of initiatives to promote the use of solar water heaters, including grants, tax breaks, and laws requiring their installation in new construction. As a result, solar water heaters are used by more than 70% of Chinese households. driving the market for solar water heaters' revenue.
Integral Collector Storage and Thermosyphon are two of the market segments for solar water heaters that are based on type. With 30% of market revenue, the thermosyphon category dominated the market. Thermosyphon produced locally in emerging economies with inexpensive components and simple tools. As a result, local artisans can create and install them, generating jobs and boosting the local economy. Based on collector type, the solar water heater market is divided into Evacuated Tube Collector, Flat Plate Collector, and Unglazed Water Collector segments. The category with the highest revenue was evacuated tube collectors. Compared to other types of collectors, some consumers may find them more appealing due to their high efficiency and longer durability as well as their contemporary design.
Report Coverage
Global Solar Water Heater research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Solar Water Heater report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Solar Water Heater competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Solar Water Heater market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Solar Water Heater market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Solar Water Heater market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Rheem Manufacturing, A.O. Smith, SunTank, Bradford White Corporation, Bosch, Honeywell Corporation, Alternate energy Technologies, Viessmann Manufacturing, Racold, Wagner Solar
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Solar Water Heater market based on the below-mentioned segments:
Global Solar Water Heater Market, By Type
Integral Collector Storage
Thermosyphon
Global Solar Water Heater market, By collector type
Evacuated Tube Collector
Flat Plate Collector
Unglazed Water Collector
Global Solar Water Heater market, Regional Analysis
The market CAGR for solar water heater is being propelled by a rise in environmental consciousness among the populace. Consumers are looking for strategies to lower their energy expenses as energy costs climb further. Solar water heaters are a great answer to this issue because they heat water using the sun's energy, which is free and renewable. Additionally, as more people become aware of how traditional energy sources affect the environment, they search for more environmentally friendly substitutes. Solar water heaters are an excellent approach to lower carbon emissions and contribute to environmental protection.
Incentives and regulations are also being offered by numerous governments worldwide to promote the use of solar water heaters. These incentives could come in the form of tax breaks, money back guarantees, or installation-related grants. Governments may in some circumstances even demand the construction of solar water heaters in particular kinds of structures. Solar water heaters are now more effective and inexpensive than ever thanks to technological advancements. Solar water heaters are now a more appealing alternative for customers because to advancements in design and performance brought about by new materials and production processes.
The adoption of solar water heaters is being driven by the rising demand for environmentally friendly and energy-efficient homes. Solar water heaters are an excellent method to accomplish both of these objectives. Many homeowners are seeking for solutions to lessen their carbon footprint and their energy costs.
China has, for instance, taken the lead in promoting solar water heaters. The government has put in place a number of initiatives to promote the use of solar water heaters, including grants, tax breaks, and laws requiring their installation in new construction. As a result, solar water heaters are used by more than 70% of Chinese households. driving the market for solar water heaters' revenue.
Integral Collector Storage and Thermosyphon are two of the market segments for solar water heaters that are based on type. With 30% of market revenue, the thermosyphon category dominated the market. Thermosyphon produced locally in emerging economies with inexpensive components and simple tools. As a result, local artisans can create and install them, generating jobs and boosting the local economy. Based on collector type, the solar water heater market is divided into Evacuated Tube Collector, Flat Plate Collector, and Unglazed Water Collector segments. The category with the highest revenue was evacuated tube collectors. Compared to other types of collectors, some consumers may find them more appealing due to their high efficiency and longer durability as well as their contemporary design.
Report Coverage
Global Solar Water Heater research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Solar Water Heater report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Solar Water Heater competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Solar Water Heater market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Rheem Manufacturing, A.O. Smith, SunTank, Bradford White Corporation, Bosch, Honeywell Corporation, Alternate energy Technologies, Viessmann Manufacturing, Racold, Wagner Solar |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Solar Water Heater Market from 2021 to 2030.
- Market Forecast for Solar Water Heater Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Solar Water Heater competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Solar Water Heater
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Solar Water Heater market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Solar Water Heater market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Rheem Manufacturing, A.O. Smith, SunTank, Bradford White Corporation, Bosch, Honeywell Corporation, Alternate energy Technologies, Viessmann Manufacturing, Racold, Wagner Solar
Primary Target Market
- Market Players of Solar Water Heater
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Solar Water Heater market based on the below-mentioned segments:
Global Solar Water Heater Market, By Type
Integral Collector Storage
Thermosyphon
Global Solar Water Heater market, By collector type
Evacuated Tube Collector
Flat Plate Collector
Unglazed Water Collector
Global Solar Water Heater market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive solar water heater market market research and competitor analysis for your business to help you develop more profound insights into the solar water heater market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the solar water heater market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.