Global Solar Water Heater Market analysis by Product Type, by Component, by Distribution Channel & by End User with Regional Outlook & Forecast to 2025

Market Overview

With rising demand for power there is increasing dependency on the use of non-renewable resources to meet the demands. Solar water heater uses solar energy, a technological step towards sustainable use of energy and power. The global power demand is 15 terawatts, whereas solar energy that reaches earth provides 120,000 terawatts, offering a convenient and efficient alternative to power producing companies. The tropical countries such as China, India, Mexico, Central America, Brazil, Oman, U.A.E. have huge potential of solar energy and the growth of solar water heaters. Various governments are promoting and incentivizing the use of solar water heaters. United Nations Environment Programme (UNEP) and United Nations Development Programme (UNDP) executes Global Solar Water Heating Market Transformation and Strengthening Initiative (GSWH) project, funded by Global Environmental Fund (GEF) for creation of a simplified sustainable market infrastructure.

Market Size & Forecast to 2025

Goldstein Research analyst forecast that the global solar water heater market size is set to reach USD 5.1 billion by 2025, growing at a CAGR of 7.4% over the forecast period. The government initiative towards promoting solar water heater, investments in related projects, presence of number of manufacturers, awareness among the people, rising adoption of solar water heaters by various countries and construction of commercial buildings are some of the factors leading the market towards growth and development. 

Solar Water Heater Market Segmentation

By Product Type

• Active Solar Water Heaters
• Passive Solar Water Heaters

By Component

• Solar Collectors
  • Evacuated Tube
  • Flat Plate
  • Unglazed Water
• Storage Tanks

By Distribution Channel

• Online Stores
• Offline Stores

By End-User

• Residential sector
• Commercial sector
• Industrial sector

Based on Geography

• North America (U.S. & Canada)  Solar Water Heater Market {Market Share (%), Market Size (USD Billion)}
• Latin America (Brazil, Mexico, Argentina & Rest of Latin America)  Solar Water Heater Market {Market Share (%), Market Size (USD Billion)}
• Europe (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden & RoE)  Solar Water Heater Market {Market Share (%), Market Size (USD Billion)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)  Solar Water Heater Market {Market Share (%), Market Size (USD Billion)}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA)  Solar Water Heater Market {Market Share (%), Market Size (USD Billion)}

Market Insights

Contribution of commercial sector is growing the solar water heater market at a rate of 6.4% annually,

On the basis of product type, active solar water heater accounted for largest market share of 58.3% in 2017 of the total global solar water heater market. As compared to passive solar water heaters, active solar water heaters are more efficient. Contribution of commercial sector is growing the solar water heater market at a rate of 6.4% annually, whereas residential sector is opportunistic segment for the application of solar water heaters. 

Latin America witnessing fastest growth on account of its geographical presence in the tropical belt

Based on geography, Asia-Pacific accounted for largest market share of 38.6% in 2017 of the total global solar water heater market. Asia-Pacific region lies in the tropical belt of the earth that receives maximum sunlight throughout the year, thus maximum installations of solar water heater is experienced in this region. Latin America is the fastest growing market for the growth of solar water heater market at a rate of 3.2% annually, on account of its geographical presence in the tropical belt. Brazil had 7.7 GWtt installed capacity in 2014 from solar water heaters and acquired 3rd biggest market position globally.

Trending hybrid solar water heaters to make installation efficient & cost effective

Hybrid solar water heaters are in trend, which maximizes the available solar radiation using parabolic coil collector. Hybrid solar water heaters significantly take lesser time taken by the conventional solar water heater, making its installation efficient, cost effective and requiring less energy augmenting the growth of global solar water heater market.

Drivers & Challenges to Market Growth

Solar water heaters are zero-emissions, zero-waste solution to other environmentally destructive problem form other methods of heating water that contributes about 50.0% of greenhouse gas emissions. This has been the major driving factor for adoption of solar water heaters that helps in reducing carbon footprint.  

During cloudy days or little or no sunshine days, solar water heaters are at disadvantageous position. Such climatic conditions negatively impact the solar water heaters efficiency, and are able to provide with only limited supply of hot water. 

Covered in this Global Solar Water Heater Market Report

The report covers the present ground scenario and the future growth prospects of the solar water heater market for 2017-2025 along with the global sales and global revenue of the solar water heater. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. We have forecast the market on the basis of number of solar water heater projects, shipment unit data, investors, suppliers and distributors.

Solar water heater market report 2017-2025, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the solar water heater market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global solar water heater market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Key Market Players

Global solar water heater market report comprises of the following companies as the key players in the solar water heater market.

• EMMVEE Solar Systems
• Jinyi Solar
• Chromagen
• Genersys
• Rheem Manufacturing
• Alternate Energy Technologies
• Apricus Solar
• A. O. Smith
• Heliodyne
• HTP
• Inter Solar Systems
• Nuetech Solar Systems
• SunEarth
• Vaughn Thermal

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key Questions Answered in this Research Report

• What is the total market size by 2025 and what would be the expected growth rate?
• What is the revenue of solar water heater market in 2016-17 and what would be the expected demand over the forecasted period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who all are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

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