Solar Water Heater Market, By System (Thermo siphon and Pumped), By Collector Type (Evacuated Tube Collector, Flat Plate Collector and Unglazed Water Collector), By Application (Residential, Commercial and Industrial)and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Trends, Analysis and Forecast till 2034

Report Code: PMI93919 | Publish Date: April 2024 | No. of Pages: 167

Global Solar Water Heater Market Overview

Introduction:

Solar Water Heater Market was valued at US$ 6.33 Billion in 2024 and is projected to grow at a CAGR of 6.70% to reach US$ 12 Billion by 2034.

Solar water heater is a device that covert solar energy or sunlight into heat using a solar thermal collector and an insulated tank to store hot water. The heated fluid is then passed through a heat exchanger in the storage tank, where the heat is then transferred to the water. It is generally installed at the terrace or where sunlight is available and heats water during day time which is stored in an insulated storage tank. The hot water delivered by the solar water is used for various household activities such as washing, bathing, and cleaning in various hotels and institutions.

Increasing demand for water heating especially in colder regions and rising concerns related to greenhouse gases are the major factors that drive the growth of solar water heater market. Further, strict government regulations to curb greenhouse gases emissions and subsidies on adoption of renewable source of energy also foster the growth of solar water heater market. Moreover, increasing measures to control energy consumption owing to fast depletion of non-renewable resources, eco-friendly, dependable, and affordable technologies to heat water, especially in residential and industrial sectors drives the overall growth of the solar water heater market. However, high initial cost of solar water heaters and lack of consumer awareness hamper the growth of solar water heater market.

Solar heater market has been segmented on the basis of system, collector type, application and region. On the basis of system, the solar water heater market is segmented into thermo siphon and pumped. On the basis of collector type, the solar water heater market is segmented into evacuated tube collector, flat plate collector and unglazed water collector. On the basis of application, the solar water heater market is segmented into residential, commercial and industrial.

On the basis of region, the solar water heater market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America holds the maximum share in the growth of solar water heater market owing to favorable government policies and increasing adoption of solar operated thermal system by residential and commercial sectors.  Asia Pacific is expected to hold significant shares in the growth of solar water heater market attributed to increasing electricity cost, rising concerns related to greenhouse gases, increasing government subsidiaries on use of renewable source of energy in countries such as India and China etc. over the forecast period. Europe is also estimated to share in the growth of solar water heater market in the coming future.

Key players operating in the solar water heater market includes Azure Power India, Central Electronics, Chemtrols Solar, Emmvee Solar s, Euro Multi vision, Indo solar, Jupiter Solar Power, Tata Power Solar and Mahindra Solar One.

Global Solar Water Heater Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By System
      • Market Snippet, By Collector Type
      • Market Snippet, By Application  
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Market Segmentation, By System, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Thermo siphon
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Pumped
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Market Segmentation, By Collector Type , Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Evacuated Tube Collector
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Flat Plate Collector
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Unglazed Water Collector
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Market Segmentation, By Application , Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Residential
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Commercial and Industrial
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By System, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Collector Type , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By System, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Collector Type , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By System, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Collector Type , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By System, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Collector Type , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By System, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Collector Type , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East
  1. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  2. Company Profiles
  • Azure Power India
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Central Electronics
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Chemtrols Solar
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Emmvee Solar
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Euro Multi vision
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Indo solar
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Jupiter Solar Power
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tata Power Solar
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Mahindra Solar One
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Solar Water Heater Market size was valued at US$ 6.33 Billion in 2024 and is estimated to be US$ 12 Billion by 2034 and is anticipated to register a CAGR of 6.70%

The Solar Water Heater Market is segmented into System, Collector Type, and Region.

Market growth is propelled by increasing awareness of renewable energy, government incentives for solar installations, and the growing emphasis on eco-friendly and energy-efficient water heating solutions.

Challenges include high initial costs, dependence on sunlight availability, and potential limitations in cold or cloudy regions, influencing the global Solar Water Heater Market.

The report considers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa as key areas for the Solar Water Heater Market. Asia-Pacific is expected to dominate the market, driven by supportive government policies, a large population with increasing energy needs, and the growing adoption of solar technologies in the region.

The key players operating the target market includes Azure Power India, Central Electronics, Chemtrols Solar, Emmvee Solar s, Euro Multi vision, Indo solar, Jupiter Solar Power, Tata Power Solar and Mahindra Solar One.