According to Technavio’s latest market industry analysis, the global solar water heater market is expected to grow at a CAGR of close to 7% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global solar water heater market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user type
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The top three revenue contributing end-user segments are discussed below
Global solar water heater market in the residential segment: Factors such as increasing energy crisis and government support in developing countries is anticipated to propel the adoption of solar water heaters in the residential segment during the forecast period. Governments in countries such as India and China have already taken initiatives to encourage the adoption of solar water heaters.
“India, for example, is providing subsidies of up to 30% to general category states and up to 60% to special category states. Special category states include states in the Northeast, islands, and the hilly regions of the country,” says Poonam Saini, a lead analyst at Technavio for research on home, kitchen, and large appliances.
Global solar water heater market in the commercial segment: Hotels, schools, salons, and hospitals constitute the primary end-user categories in the commercial segment. During the forecast period, the demand for solar water heaters in the commercial segment will be fueled by their increasing adoption in the hospitality sector.
Global solar water heater market in the industrial segment: The requirement of hot water varies depending on the types of industries and their temperature requirements and applications. Dairy processing, food processing, beer, food and beverage, and pharmaceutical industries use solar water heaters.
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The top vendors operating in the global solar water heater market are:
- Chromagen
- EMMVEE Solar Systems
- Genersys
- Jinyi Solar
- Rheem Manufacturing
Other prominent vendors in the market include A. O. Smith, Alternate Energy Technologies, Apricus Solar, Heliodyne, HTP, Inter Solar Systems, Nuetech Solar Systems, SunEarth, and Vaughn Thermal.
A more detailed analysis is available in the Technavio report titled, ‘Global Solar Water Heater Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Water Heater Market in North America 2016-2020
- Global Tankless Water Heater Market 2016-2020
- Global Warm Air Heater Market 2016-2020
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