Asia Pacific Is Expected To Hold 21% Market Share For Industrial Solar Water Heaters Market In 2022 End | FMI

The market for industrial solar water heaters is anticipated to reach a market value of US$ 1,138.9 Million by 2032, growing at a CAGR of 3.7% over the forecast period of 2022-2032. The market is anticipated to reach a market value of US$ 791.8 Million in 2022.

Growth of the industrial solar water heaters market can be attributed to the increasing demand for the same from end user industries and commercial sectors. Industrial Solar Water Heater is a heating equipment powered by solar cells which in turn is used for applications such as heating of water, space heating, industrial process such as obtaining hot water or preheating of steam before it enters the industrial boilers.

Industrial solar water heater use has increased in North America and Europe as a result of the wealthy lifestyles, high disposable incomes, and high standards of living in those regions.

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APAC countries are anticipated to assist significantly for the growth of the global Industrial Solar Water Heaters market over the forecast period. Evolving countries in the APAC region, especially China and India, is estimated to play an imperative role in the growth of the Industrial Solar Water Heaters market in the coming future. In countries such as India and China, construction and automotive industry is in a very active state and is very attractive for the manufacturers there, is humungous growth potential for the global Industrial Solar Water Heaters market.

The market for the Industrial Solar Water Heaters is expected to grow as significant macro-economic factors such as the growth in industrialization, growth in urbanization, growth of construction industry and growth of automotive industry is on a linear side and thus will upsurge the growth of the global Industrial Solar Water Heaters market over the forecast period.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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The primary source of energy is the solar energy which can be utilized for various industrial applications. Moreover, as Industrial Solar Water Heaters are small in size and have great compressive strength, they are used as a structural lightweight fillers, thus Industrial Solar Water Heaters market is expected see rapid growth in all developed and developing countries in the future.

Industrial Solar Water Heaters Market: Market Participants

Some of the examples of the key market participants in the global Industrial Solar Water Heaters market, identified across the value chain are,
• ATR SOLAR
• SunEarth
• Racold
• Heliodyne, Inc.
• Alternate Energy Technologies, LLC.
• Excel Innovations Private Limited.
• Apricus Solar Co. Ltd.
• Chandrlok International
• SunMaxx Solar
• Greentek India Pvt. Ltd.
• SUNPEAK USA Inc.
• American Water Heaters

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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