The global solar water heater market size was US$ 4.6 billion in 2021. The global solar water heater market size is forecast to reach US$ 7.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.1% during the forecast period from 202 to 2030.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1616
Solar water heating is a dependable, eco-friendly, and economical solution that can reduce utility costs for thousands of homes and businesses. In order to generate electrical and thermal energy, this technology uses sunlight as a source of energy. Usually, this alternative energy source may be transformed into heat, which offers hot water for heating residences and commercial buildings. In several nations throughout the world, solar water heating systems use solar thermal heating to produce hot water. For every 100 liters of solar heating capacity per day, a typical solar water heating system can save up to 1500 units of electricity annually.
Factors Influencing Market Growth
The growing energy prices, rising global population, and increasing demand for energy-efficient water heaters drive the global market.
The technological advancements in solar panels with regard to design specifications and other developments, such as solar tracking mounts and thin film technology is forecast to offer lucrative opportunities for the global market.
The lack of consumer understanding and increased initial investment may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This led to the closure of various manufacturing units owing to a lack of raw materials and lack of labor. A halt in photovoltaic equipment manufacture has sparked worries about logistics and material availability. In consequence, this makes it more difficult to make solar water heaters.
Regional Analysis
Europe garnered a substantial market share in 2021 and is forecast to have considerable growth during the forecast period. As a result of the presence of leading market participants, rising concerns from the government, and new energy schemes. Under the proposed changes to the basic subsidy program, the household hot water systems are anticipated to once again be subsidized at $60/m2, with a ceiling of $605 per system (at least 3m2 and 200 liters).
Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1616
Leading Competitors
The leading prominent companies profiled in the global solar water heater market are:
A.O. Smith
Solahart
Jiangsu Sunpower Solar Technology Co., Ltd.
Alternate Energy Technologies.
Himin Solar Energy Group
V-Guard Industries Ltd
Ariston Thermo SpA
KODSAN Company
Solav Energy
Zhejiang JiaDeLe Solar Co., Ltd.
Sunpower Corporation
Other Prominent Players
Scope of the Report
The global solar water heater market segmentation focuses on Type, Capacity, End-Users, and Region.
Segmentation based on Type
Glazed
Unglazed
Segmentation based on Capacity
100 L
150 L
200 L
Others
Segmentation based on End-Users
Residential
Commercial
Industrial
Inquire more and share questions if any before the purchase on this report at:-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1616
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1616
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/