27 December 2018
– The Global Solar
Water Heaters Market is expected to witness a lucrative growth
on account of rising number of domestic housing projects across the world.
Rising disposable income and shifting trend for a tank less water heaters are
expected to fuel the market. Factors including improved environment
sustainability, energy efficiency and temperature control for a longer period
are projected to stimulate the demand for these products over the forecast
period.
Growing requirements for a broad range of domestic applications which include
cleaning, cooking, bathing and space heating is expected to escalate the
product demand. Increasing implementation in the commercial and industrial
sector is expected to drive the industry growth. Moreover, increasing demand
for hot water from hospitals and hotels is anticipated to be a key stimulating
factor for the solar water heaters sector growth. In addition, extensive
applications of water heaters in manufacturing industry include food &
beverage processing, thermal power plants and chemical industries is likely to
drive the growth over the forecast period.
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Growing consumer awareness regarding the heater benefits is
expected to escalate the market progress significantly over the upcoming years.
In addition, technological innovations are leading for cost efficient water
heaters and are expected to influence the development of the sector positively
over the forecast period. Furthermore, changing trends regarding the
implementation of safe water heaters are likely to impel product demand.
Additionally, inclination towards consumer quality standards and energy
efficiency are expected to open new opportunities over the forecast period.
Frequent outages and electricity shortage may act as significant constraints in
the usage of solar heaters.
Rising demand in a wide range of domestic applications
including bathing, cleaning, and cooking, also from commercial sectors
including hospitals and hotels is expected to impel the solar water heaters
market growth. Developed infrastructure in rural areas is expected to open new
market opportunities players. The solar water heaters sector is categorized by
increased energy efficiency, quality standards, and safety awareness.
Electricity shortages and fluctuation are expected to propel the market growth.
The popularity of alternate fuels such as electrical power product and adoption
of hybrid products is expected to restrain the product demand over the forecast
period. Hybrid water heater operates on more than two energy sources which in
turn offer switching option to customers. Rising electricity prices, changes in
government regulations, and volatile raw material prices are estimated to impel
the product demand.
The key market players operating in the market include
Siemens AG, Rheem Manufacturing Co., A.O. Smith Corp, and GE Co. led the solar
water heaters market share in 2015. Reduction, material loss, delay and
cancellation in the purchase by large customers is expected to hinder growth
over the upcoming years. Rising number of participants from the unorganized
sector is expected to reduce on account of increasing awareness amongst the
population for safety. Market participants focus on offering energy-efficient
and cost-effective products
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Market Segment:
On the basis of
product, this report displays the production, revenue, price, market share and
growth rate of each type, primarily split into
• Compact Type
• Split Type
On the basis of the
end users/applications, this report focuses on the status and outlook for major
applications/end users, consumption (sales), market share and growth rate for
each application, including
• Home Use
• Commercial Use
• Industrial Use
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