Global Solar Water Heater Market to reach USD 4.1 billion by 2025 | CAGR: 8.1%
Global Solar Water Heater Market is valued at USD 2.05 billion in 2016 is anticipated to grow USD 4.1 billion with the compounded annual growth of 8.1% over the forecast period 2017-2025.
New York 29 May 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Solar Water Heater industry is poised to raise USD 2.05 billion by 2025. Expanding interest in dependable, condition agreeable and cost-proficient innovation for boiling water planning crosswise over private, private and open structures and modern divisions will drive the worldwide sunlight based water warmer market measure.
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Global Solar water heaters Market Size study, By Collector (Evacuated Tube, Flat Plate and Unglazed Water), By System (Thermosyphon, Pumped), By Application (Swimming Pool Heating, Domestic Water Heating, Large Domestic Water Heating and Others) and by Regional Forecasts 2017-2025.
The industry seems to be fairly competitive. Some of the leading market players include Sun tank, A.O.Smith, Alternate energy technologies, Rheem manufacturing and so on. Other market players discussed in the report include Wagner solar UK, Viessmann Manufacturing, Bradford White Corporation. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Fossil fuel depletion along with rising concerns toward energy conservation will increase the solar water heater market growth.
- Introduction of regulations and incentives including subsidies, tax credit, and tax rebate will encourage the adoption of these products.
- Technological advancement in the development of thermal collector design to enhance efficiency and reduce cost will also increase the market growth.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- Evacuated Tube
- Flat Plate and
- Unglazed Water
- Swimming Pool Heating
- Domestic Water Heating,
- Large Domestic Water Heating
- North America
- Asia Pacific
- Latin America
- Rest of the World