Solar Water Heater Market 2021 Expected to grow at a CAGR of 6.1% by 2027

The key players profiled in the solar water heater market report 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.

Surge in demand for water heating systems in isolated and rural areas is anticipated to propel the solar water heater market growth. Small-scale solar water heaters are predominately used in rural areas due to low cost and high efficiency in various climate conditions. For instance, China has around 5,000 small & medium-scale solar water heater manufacturers and most of them serve in the rural areas. In addition, substantial government support in terms of rebate and energy schemes is expected to further attract new customers, thereby enhancing the market growth.

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Based on type, the glazed segment emerged as the market leader, owing to high absorption efficiency of glazed collectors compared to unglazed collectors. However, high price of glazed collectors may restrict the usage for small-scale applications.

Based on capacity, the 100 liter capacity segment accounted for significant market share. This is attributed to rise in demand in the residential sector. Low-cost solar water heater with 100 liter capacity is sufficient for a family of 2-3 members in residential buildings.

The residential solar water heater segment accounted for significant 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.

North America accounted for a significant market share, owing to favorable government measures to promote solar power technologies for residential and commercial places.

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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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