DUBLIN--(BUSINESS WIRE)--The "Solar Water Heater Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The solar water heater market is expected to grow at a CAGR of more than 5.1% over the period of 2020-2025.
Factors such as reducing carbon footprint and increasing efficiency, clubbed with the increase in usage of solar heater due to the declining prices and growing adoption of glazed solar heater, are likely to drive the solar water heater market during the forecast period.
The raw materials for the manufacturing of solar water heater are available at low cost and it is made cheaper as many countries around the globe subsidize its use. However, a lot of space is required in the installing of the solar water heater which can cause problems in areas where the space availability is a constraint.
Key Market Trends
Glazed Solar Water Heater to Dominate the Market
- Glazed Solar Water Heater is expected to dominate the segment during the forecast period. Glazed solar water is slightly more expensive than the unglazed solar water heater. Most of the unglazed solar water heaters are used in North America. Asia-Pacific and Middle-East on the other hand are tilted more towards glazed solar water heater with nearly 100 % of the solar water heater being of glazed type.
- As systems are to be replaced and account for a significant part of gross additions, cumulative global operating capacity increased by just 1.4% (6.5 Gigawatt-hour (GWh)) in 2018, reaching an estimated 480 GWh at the end of the 2018.
- Around 42 ton-oil-equivalent (toe) were saved by using glazed solar water heater in the year 2018, with the largest contribution coming from China.
- Therefore, with the increase in the demand for renewable energy and government support, glazed solar water heater demand is expected to increase substantially.
Middle-East and Africa to Record the Highest Growth
- Middle-East and Africa are expected to record the highest growth. Around 2,700,000 square-meter of water collector capacity was added, in 2017, in the region with Turkey and Israel taking the major share. The region is expected to increase its electricity generation from 7 peta-joule (PJ) to around 91 PJ by the year 2025.
- Turkey's energy consumption of primary energy and electricity is expected to increase at an average rate of 3.5 per cent, by 2025. Therefore, Turkey is developing an energy policy aimed at securing a reliable supply of energy, as well as to achieve a low-carbon and environmentally sustainable future. Following its policies, Turkey saved around 2,242,500 toe/a of power, in 2018 using the solar water heater.
- Israel has scarce natural resources and is surrounded by hostile nations. Issues with procurement of reliable resources has pushed Israel's government to focus on renewable resources as a means of regular supply. Israel added around 3300 MW of energy in 2018 with 467,000 of toe/a of energy being saved in the same year.
- Owing to the aforementioned factors, the region is expected to witness a significant growth in the solar water heaters market in the coming years.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in billion USD, 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Thermal Collector Type
18.104.22.168 Evacuated Tube
22.214.171.124 Flat Plate
5.2.2 Commercial and Industrial
5.3.1 North America
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Himin Solar Energy Group
6.3.2 V-Guard Industries Ltd
6.3.3 Ariston Thermo SpA
6.3.4 KODSAN Company
6.3.5 Solav Energy
6.3.6 Zhejiang JiaDeLe Solar Co., Ltd.
6.3.7 Turkey Electromechanical Industry Co.
6.3.8 SolarCity Corporation
6.3.9 SunPower Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/i1nqbg