The global solar
water heaters market size is predicted to be valued at USD 4.13
billion by 2025, according to a new report by Grand View Research, Inc.,
exhibiting a CAGR of 8.1% during the forecast period. Rising demand for
energy-efficient water heaters, coupled with increasing demand to reduce energy
costs, is projected to augment market growth.
Solar energy is among the cleanest sources of energy
available in the market. Rising awareness regarding the significance of energy
conservation is predicted to augment the global market over the forecast
period. Stringent regulations to substantially reduce rampant emission of
greenhouse gases into the environment are projected to further boost business
by 2025.
The residential segment of the solar water heaters
market was worth USD 777.2 million in 2016 and is anticipated to reach USD
1,655.4 million over the forecast period. The segment comprises both large and
small homes, township properties, and gated communities and households. In
terms of revenue, the commercial segment is slated to register the highest
revenue-based CAGR of 9.1% during the forecast period. This segment includes
establishments such as educational institutions, recreational facilities,
transport, and healthcare.
In terms of technology, the Evacuated Tube Collector
(ETC) segment market accounted for 773.3 thousand units in 2016 and is expected
to witness rapid growth by 2025. Economical pricing, improved capacity, and
greater efficiency are anticipated to boost segment growth over the forecast
period. In 2016, the Flat Plate Collector (FPC) segment held a 30.78% share in
the global solar water heaters market revenue. High adoption of FPCs along with
low manufacturing costs compared to existing technologies is predicted to
support segment growth through 2025.
Browse full research report on Solar Water Heaters Market: https://www.grandviewresearch.com/industry-analysis/solar-water-heaters-market
Further key findings from the report suggest:
- The U.S. solar water heaters market is predicted to witness a
revenue-based CAGR of 3.5% by 2025. Favorable government regulations and
economic and financial benefits offered by business owners to encourage
adoption of these units will augment industry growth
- In terms of volume, the U.K. solar water heaters market accounted
for 94.3 thousand units in 2016 and is expected to reach 126.2 thousand
units over the forecast period. Residential consumers account for a larger
share, owing to high prices of energy and strict pollution control norms
- The India solar water heaters market value is predicted to reach
USD 218.1 million by 2025. This is among the most promising markets owing
to large-scale initiatives by the government to systematically shift from
non-renewable to renewable sources of energy to curb the ever-expanding
carbon footprint.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/renewable-energy
Grand
View Research has segmented the global solar water heaters market on the basis
of technology, system, application, and region:
Solar
Water Heaters Technology Outlook (Volume, Thousand Units; Revenue, USD Million,
2014 - 2025)
- ETC
- FPC
- UWC
Solar
Water Heaters ApplicationTypeOutlook (Volume, Thousand Units; Revenue, USD
Million, 2014 - 2025)
- Residential
- Commercial
- Industrial
Solar
Water Heaters SystemTypeOutlook (Volume, Thousand Units; Revenue, USD Million,
2014 - 2025)
- Thermosyphon
- Pumped
Solar
Water Heaters Regional Outlook (Volume, Thousand Units; Revenue, USD Million,
2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Russia
- U.K.
- Spain
- Italy
- France
- Asia Pacific
- China
- Japan
- South Korea
- Australia
- India
- Central &
South America
- Brazil
- Colombia
- Paraguay
- Middle East
and Africa
- UAE
- Saudi Arabia
- South Africa
- Egypt
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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