Press release
Solar Water Heater Market 2021 | Segmentation, Outlook, Industry Report to 2027
Rise in demand for cost effective and eco-friendly energy solutions and different government policies for various rebate and energy schemes drive the growth of the global solar water heater market. However, requirement of huge roof area for solar water heating hinder the market growth. On the other hand, advancements in energy backup systems present new opportunities in the coming years.The residential solar water heater segment accounted for significant solar water heater market share, owing to robust investment in the construction sector for re-establishment and refurbishment of buildings. Most of these new buildings have solar collectors installed on the roof, which are connected to the water tank by means of a circulating pump.
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Based on type, the glazed segment accounted for the highest solar water heater market share in 2019, holding more than 90% of the total share, and is expected to maintain its lead position during the forecast period. In addition, this segment is projected to manifest the highest CAGR of 6.2% from 2020 to 2027. The research also analyzes the unglazed segment.
North America accounted for a significant solar water heater market share, owing to favorable government measures to promote solar power technologies for residential and commercial places.
Major players have adopted product launch, business expansion, and acquisition to sustain the intense market competition. The key players profiled in the solar water heater market include Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN Company, Solav Energy, Zhejiang JiaDeLe Solar Co., Ltd., SunPower Corporation, A.O. Smith, and Alternate Energy Technologies.
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Covid-19 Scenario:
Manufacturing activities have been hindered due to lockdown, which caused shortage of raw materials and manpower. In addition, the supply chain has been disrupted.
The installation and maintenance activities have been postponed due to lockdown measures and shortage of workforce. However, these activities began during the post-lockdown period.
Owing to high dependence on exports from China for solar cell and solar modules, the ban on export activity impacted the world. As India imports nearly 80% of its solar cells and modules from China, the manufacturing activities in the country affected.
The report offers detailed segmentation of the global solar water heater market based on type, capacity, end user, and region.
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