Press release
Solar Water Heater Market to Generate $6.7 Billion by 2027, at a CAGR of 6.1%
Solar Water Heater Market
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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.
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.
Top Key players include in this report:
Himin Solar Energy Group
V-Guard Industries Ltd
Ariston Thermo SpA
KODSAN Company
Solav Energy
Zhejiang JiaDeLe Solar Co., Ltd.
SunPower Corporation
O. Smith
Alternate Energy Technologies
The following are the regions covered in this report.
North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
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Key findings of the study
Glazed sola water heater is projected to grow at the highest CAGR of approximately 6.2%, in terms of revenue, during the forecast period.
By capacity, the others segment is anticipated to grow with a CAGR of 8.2%, in terms of revenue, during the forecast period.
The Asia-pacific dominated the market with around 55% revenue shares in 2019.
COVID-19 scenario analysis:
The global solar water heater market has no significant impact of Covid-19 unlike conventional gas or electric water heaters.
However, during new solar collector and water tank installation, the shortage of manpower and social distancing norms delayed new projects.
In addition, complete lockdown and social distancing norms across different countries delayed the cross-border export and import activities. This led to supply chain disruptions in the upstream and downstream channels.
Furthermore, high dependency on Chinese exports for various solar cell and solar module negatively impacted the market.
As significant number of production plants in China had been operating with limited production capacity for the last few months, it negatively affected the global solar water heater production.
Reasons for Buying this Report:
Complete analysis on market dynamics, market status and competitive solar water heater view is offered.
Forecast Global solar water heater Industry trends will present the market drivers, constraints and growth opportunities.
The five-year forecast view shows how the market is expected to grow in coming years.
All vital Global solar water heater Industry verticals are presented in this study like Product Type, Applications and Geographical Regions.
Get detailed COVID-19 impact analysis on the Market @https://www.alliedmarketresearch.com/request-for-customization/8322?reqfor=covid
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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