Global Solar Water Heater Market to Witness Growth by a CAGR of ~6% throughout 2022 – 2030
Research Nester published a report titled “Solar Water Heater Market: Global Demand Analysis & Opportunity Outlook 2030”
Research Nester published a report titled “Solar Water Heater Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalsolar water heater market in terms of market segmentation by type, capacity, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global solar water heater market is estimated to occupy a sizeable amount of revenue by growing at a CAGR of ~6% during the forecast period, i.e., 2022 – 2030, owing to the increasing demand for cost-effective and eco-friendly energy solutions for water heating, and growing use of solar heaters as a result of reduction in prices. Along with this, escalating number of government initiatives associated with reducing emissions, and surging investments in infrastructure sector are also expected to accelerate the growth of the market in the forthcoming years.
The market is segmented by type, capacity and end user. Based on type, the glazed segment is anticipated to occupy the largest share during the forecast period on the back of increase in solar efficiency provided by these heaters. Additionally, by end user, the residential segment is projected to grab the largest share over the forecast period attributing to the escalating construction of green residential buildings, and growing investments for refurbishment of existing residential establishments.
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Geographically, the global solar water heater market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth and grab the largest share in the market during the forecast period attributing to the technological innovations to achieve energy efficiency at limited costs, and transition towards the use of clean and renewable energy in the region. Moreover, the market in the Middle East and Africa is also assessed to gather a significant share in the future owing to the upsurge in usage of solar energy for water heating purposes.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Eco-Friendly and Cost-Effective Energy Solutions Worldwide to Boost Market Growth
Over the last few years, the demand for eco-friendly and cost-effective energy solutions is surfacing all around the world. This can be attributed to the increase in emissions globally, which is predicted to increase the construction of green buildings, as residential sector is also a significant contributor to release of toxins into the environment. It is a crucial factor assessed to drive market growth in the near future.
However, less awareness about solar water heaters in underdeveloped nations is expected to operate as key restraint to the growth of the global solar water heater market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global solar water heater market which includes company profiling of Ariston Thermo SpA, V-Guard Industries Ltd, KODSAN Company, Himin Solar Co., Ltd., Robert Bosch GmbH, Honeywell International, Inc., A. O. Smith Corporation, Rheem Manufacturing Company, Rinnai Corporation, Linuo Ritter International Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global solar water heater market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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