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Solar water heater market statistics 2019-2025: Share forecasts, trends & growth drivers

  • Solar water heater market statistics 2019-2025: Share forecasts, trends & growth drivers

The prime objective of Solar Water Heater Market report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report.

Surging demand for sustainable technologies for hot water provision in industrial and commercial establishments will propel the evacuated tube collector solar water heater market. Less space requirements, low O&M cost and high conversion efficiency are some of indispensable parameters which will boost the product demand.

Solar Water Heater Market is predicted to surpass USD 3 billion by 2025. Surging demand for reliable, ecofriendly and cost competitive water heating technologies across commercial and residential establishments will drive the industry growth. Ability to reduce electricity consumption by 50% to 80% over alternate technologies, will make its adoption preferable. Population migration toward urban areas, strong economic growth, improve in living standards, increasing capital expenditure in construction of residential embodiments are some of key factors enhancing product demand.

Growing efforts to reduce trade deficit along with introduction of green building norms to minimize carbon emissions will drive the Italy solar water heater market. According to Organization for Economic Co-operation and Development (OECD), water heating contributed 15% of total residential electricity consumption. In addition, surging demand for hot water solutions across establishments along with increasing investment toward refurbishment of existing building infrastructure will complement the business outlook.

Growing efforts to reduce GHG emissions from fossil fuel driven systems along with increasing focus to enhance energy security and improve environmental performance index will positively influence the solar water heater market. The SWH systems has ability to curtail GHG emissions by about 400kg every year. Furthermore, introduction of several incentives including tax credits, subsidies, tax rebates and financial assistance to enhance renewable technologies adoption will augment the industry dynamics.

Pumped solar water heater market will witness growth on account of less heat loss & winterization along with ease of integration with existing system features. Volatility in fossil fuel prices along with growing efforts to reduce electricity consumptions will further complement the business outlook.

Growing efforts to reduce heat consumption from conventional systems along with favorable regulatory measures to enhance utilization of renewable resources will stimulate the U.S. solar water heater market. For instance, in 2011, the U.S. department of energy introduced sun shot initiatives with an aim to reduce solar electricity cost by 75%, through R&D efforts in collaboration with public & private participants.

Major participants across solar water heater industry are V-Guard, Bosch Thermotechnology Viessmann, Linuo Ritter, Chromagen, Bradford White, A.O. Smith, Rheem, Alternate Energy, Rinnai, SunTank, HiminSolar, EMMVEE Solar, Linuo Ritter, Racold and Wagner Solar amongst other.

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