The analysts forecast the global solar water heater market to grow at a CAGR of 6.78% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global solar water heater market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of solar water heaters.
According to the report, the global solar water heater market is incentivized by various governments across the world. Also, through campaigning, various government agencies are educating consumers about the benefits of using solar water heaters over conventional methods, which either use electricity or non-renewable energy sources such coal and gas. To counter the environmental threats arising from the excessive use of fossil fuels, government authorities across the world have started working on policies to increase the adoption of alternatives like solar water heaters. In many countries, such as China, Germany, and Japan, the respective governments have mandated the installation of solar water heaters in new buildings and constructions.
- Government support in developing economies
- Increasing demand from APAC
- Innovations and advancements in terms of technology and durability
- Low category penetration due to high initial installation and maintenance costs
- Seasonal variation and variable weather conditions, and low consumer awareness
- Low replacement and refurbishment market due to longer product replacement cycles
- Emergence of hybrid water heaters
- Growth of DIY solar water heating products
- EMMVEE Solar Systems
- Jinyi Solar
- Rheem Manufacturing
Other prominent vendors
- A. O. Smith
- Alternate Energy Technologies
- Apricus Solar
- Inter Solar Systems
- Nuetech Solar Systems
- Vaughn Thermal
For more information about this report visit http://www.researchandmarkets.com/research/g28x53/global_solar