Solar Water Heater Market Size, Share & Trends Analysis – Global Opportunity Analysis And Industry Forecast 2030, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Rapid Prototyping Materials market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Rapid Prototyping Materials market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
The global solar water heater market size was US$ 4.1 billion in 2021. The global solar water heater market is forecast to grow to US$ 7.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030.
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A solar water heater, also known as a solar domestic hot water system, is a water heater operated for solar energy. The system has a solar collector and a water tank, which heats up the water. There are two types of collectors: glazed and unglazed.
Factors Influencing the Market
A surge in demand for energy solutions for water heating is likely to drive market expansion. Solar water heaters operate with no emissions and no use of resources from the environment (natural gas and oil). For instance, the sun’s rays can substitute for 100ml of natural gas or 100l of heating oil. A solar water heater can also save monthly energy costs by up to 60 to 80 percent. Thus, such benefits are expected to drive the demand for solar water heaters during the forecast period.
Improvements in solar water heater energy backup systems are forecast to offer lucrative growth opportunities for market growth. Solar water heaters may not be efficient in cloudy or lack sunlight conditions. However, the backup system, which is a component of the solar collector, helps with the extra solar heat storage. Thus, it helps in the overcast or hazy conditions. Even on an overcast and foggy days, it continues to operate at the same efficiency. Thus, these advancements will bring lucrative growth opportunities for the solar water heater market during the study period.
On the flip side, the fact that solar water heaters require a large roof area may limit the market growth during the study period.
COVID-19 Impact Analysis
The supply chain was disrupted as a result of the global lockdown measures imposed in response to the COVID-19 outbreak during the initial phase of the pandemic. Another significant aspect that is anticipated to have a negative impact on the solar water heater market is the effect on the world economy. However, several nations appear to have the virus’s effects under control, which depicts the prospects of market recovery.
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Regional Analysis
Based on the region, Europe is expected to hold the largest share in the global solar water heater market. The growth of the market is attributed to the presence of major players like Wagner & Co. Solartechnik, LZT Group, etc. New energy initiatives and escalating government concerns are anticipated to have a notable impact on industry expansion.
Competitors in the Market
• A.O. Smith
• Solahart
• Jiangsu Sunpower Solar Technology Co., Ltd.
• Alternate Energy Technologies.
• Himin Solar Energy Group
• V-Guard Industries Ltd
• Ariston Thermo SpA
• KODSAN Company
• Solav Energy
• Zhejiang JiaDeLe Solar Co., Ltd.
• Sunpower Corporation
• Other Prominent Players
Market Segmentation
The global solar water heater market segmentation focuses on Type, Capacity, End-Users, and Region.
By Type Outlook
• Glazed
• Unglazed
By Capacity Outlook
• 100 L
• 150 L
• 200 L
• Others
By End-Users Outlook
• Residential
• Commercial
• Industrial
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By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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