Solar Water Heaters Market Insights:
The Solar Water Heaters Market was analyzed which was worth USD 6.50 Billion in the year 2022, expecting a CAGR of 10.33% during the forecast period (2023-2030), and the market is projected to be valued at USD 14.27 Billion by 2030.
The increased adoption of Solar Water Heaters in the Renewable Energy is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Solar Water Heaters also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Solar Water Heaters in many sectors also boosts the market growth during the forecast period.
A solar water heater is a device that uses energy from the sun to heat water for various applications, including domestic hot water, space heating, and swimming pool heating. The system typically consists of a solar collector and a storage tank, along with various components such as pumps, valves, and controls. The solar collector is typically mounted on the roof of a building and contains a network of pipes or tubes through which water or another heat transfer fluid flows. The collector absorbs energy from the sun and transfers it to the water or fluid, which is then pumped to a storage tank.
Solar Water Heaters Market Research Report” was just released by Market Research Community. It is divided into several categories, including type (Glazed, Unglazed), Capacity (100 L, 150 Liter, 200 Liter, Others), End-User (Residential, Commercial, Industrial), and companies (Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN, Solav Energy, Zhejiang JiaDeLe Solar Energy Co., Ltd., Solahart, Jiangsu Sunpower Solar Technology Co.,ltd, A. O. Smith India Water Products Pvt. Ltd., Alternate Energy Technologies), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 10.33%, over the forecast period of 2023–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||14.27 Billion|
|By Type||Glazed, Unglazed|
|By Capacity||100 L, 150 Liter, 200 Liter, Others|
|By End-User||Residential, Commercial, Industrial|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN, Solav Energy, Zhejiang JiaDeLe Solar Energy Co., Ltd., Solahart, Jiangsu Sunpower Solar Technology Co.,ltd, A. O. Smith India Water Products Pvt. Ltd., Alternate Energy Technologies|
The COVID-19 pandemic has had a substantial negative influence on the Solar Water Heaters market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN, Solav Energy, Zhejiang JiaDeLe Solar Energy Co., Ltd., Solahart, Jiangsu Sunpower Solar Technology Co.,ltd, A. O. Smith India Water Products Pvt. Ltd., Alternate Energy Technologies
Market Segment Analysis:
- 100 L
- 150 Liter
- 200 Liter
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Solar Water Heaters industries in the region.
Key Solar Water Heaters Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Solar Water Heaters Market segments.
– Largest Market Share Held by Industry to Industry for Solar Water Heaters
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Solar Water Heaters Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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