According to the report, global demand for Solar Water Heater Market was valued at approximately USD 1.82 billion in 2019, and is expected to generate revenue of around USD 2.87 billion by end of 2026, growing at a CAGR of around 6.7 % between 2020 and 2026.
The conversion of sunlight into a renewable energy for the purpose of heating the water using a solar thermal collector is called as solar water heating (SWH). The systems used in the solar water heating process comprise different technologies that are used worldwide. SWH systems are designed in order to deliver hot water for most of the year. In order to heat water using solar energy, a collector is generally fixed to a roof or a wall facing the sun. This collector heats a working fluid which is either pumped or driven by natural convection.
The hot water delivered by the solar water systems is used for various household activities such as washing, bathing, and cleaning. Besides the domestic use of solar water heater, it is also widely used in commercial places such as hotels and public institutions. Different advancements in the field of solar water heater are making it as one of the preferable choices among manufacturing industries.
On the basis of type, the global solar water heating system is broadly segmented as direct solar water heating systems, indirect solar water heating systems, active solar water-heating systems, and passive solar water heating systems. Direct or open loop systems circulate potable water through the collectors. They are relatively cheap but may have some drawbacks. Indirect or closed loop systems use a heat exchanger that separates the usable water from the fluid that circulates through the collector. The fluid in the heat exchanger is also known as the heat-transfer fluid (HTF). Passive systems depend on heat-driven convection or heat pipes for circulating water or heating fluid in the system. These systems are cheap to have extremely low or no maintenance at all. Active systems use one or more pumps to circulate water or heating fluid in the system.
High demand for hot water for commercial and household use of water from hotels, institutions, and hospitals is one of the key market drivers boosting the growth of the global solar water heating market. Rising demand for the solar water heating systems is also impacting the growth of the market in a positive way. Cost-effectiveness and reduced dependence on other fossil fuels are the advantages provided by solar water heating systems. Conversely, lack of consumer awareness act as is one of the market restraints.
China is the largest market for solar water heating systems consuming the largest share of the market followed by India, Japan, and Australia. Owing to the large potential of solar power generation, Asia-Pacific is the fastest growing market.
Major players in the global solar water heating market are Azure Power India, Central Electronics, Chemtrols Solar, Emmvee Solar Systems, Euro Multivision, Indosolar, and Jupiter Solar Power. Other key players dominating the global market are Lanco Solar Private, Mahindra Solar One, Moser Baer Photovoltaic, Photon Energy Systems, PLG Power, Surana Ventures, Tata Power Solar Systems, Vikram Solar, Websol Energy System, and XL Energy.
Key Topics Covered:
1. Preface 1.1. Report Description and Scope 1.2. Research Scope 1.3. Research Methodology 1.3.1. Market Research Process 1.3.2. Market Research Methodology
2. Executive Summary 2.1. Solar Water Heater Market, 2016 - 2026, (USD Million) 2.2. Solar Water Heater Market: Snapshot
3. Global Solar Water Heater Market - Industry Analysis 3.1. Solar Water Heater Market: Market Dynamics 3.2. Market Drivers 3.2.1. High demand for hot water for commercial and Household use of water from hotels, institutions, and Commercial 3.2.2. Rising demand for the Solar water heating systems 3.3. Restraints 3.3.1. lack of consumer awareness 3.4. Opportunity 3.4.1. Emerging economies 3.5. Porter's Five Forces Analysis 3.6. Market Attractiveness Analysis 3.6.1. Market attractiveness analysis by Type segment 3.6.2. Market attractiveness analysis by Collector type segment 3.6.3. Market attractiveness analysis by Application segment 3.6.4. Market attractiveness analysis by regional segment
4. Global Solar Water Heater Market - Competitive Landscape 4.1. Company market share analysis 4.1.1. Global Solar Water Heater market: company market share analysis, 2018 4.2. Strategic development 4.2.1. Acquisitions & mergers 4.2.2. New Collector type launches 4.2.3. Agreements, partnerships, collaborations and joint ventures 4.2.4. Research and development and regional expansion
5. Global Solar Water Heater Market - Type Segment Analysis 5.1. Global Solar Water Heater market overview: by Type 5.1.1. Global Solar Water Heater market revenue share, by Type, 2019 and 2026 5.2. Pumped 5.2.1. Global Solar Water Heater market by Pumped, 2016-2026 (USD Million) 5.3. Thermosyphon 5.3.1. Global Solar Water Heater market by Thermosyphon, 2016-2026 (USD Million)
6. Global Solar Water Heater Market - Collector type Segment Analysis 6.1. Global Solar Water Heater market overview: by Collector type 6.1.1. Global Solar Water Heater market revenue share, by Collector type, 2019 and 2026 6.2. Evacuated tube collector 6.2.1. Global Solar Water Heater market by Evacuated tube collector, 2016-2026 (USD Million) 6.3. Flat plate collector 6.3.1. Global Solar Water Heater market by Flat plate collector, 2016-2026 (USD Million) 6.4. Unglazed collector 6.4.1. Global Solar Water Heater market by Unglazed collector, 2016-2026 (USD Million)
7. Global Solar Water Heater Market - Application Segment Analysis 7.1. Global Solar Water Heater market overview: by Application 7.1.1. Global Solar Water Heater market revenue share, by Application, 2019 and 2026 7.2. Residential 7.2.1. Global Solar Water Heater market by Residential, 2016-2026 (USD Million) 7.3. Commercial 7.3.1. Global Solar Water Heater market by Commercial, 2016-2026 (USD Million) 7.4. Industrial 7.4.1. Global Solar Water Heater market by Industrial, 2016-2026 (USD Million) 7.5. Others 7.5.1. Global Solar Water Heater market by Others, 2016-2026 (USD Million)
8. Global Solar Water Heater Market - Regional Analysis 8.1. Global Solar Water Heater market overview: by region 8.2. North America 8.3. Europe 8.4. Asia Pacific 8.5. Latin America 8.6. Middle East & Africa
9. Company Profiles 9.1. Azure Power India. 9.1.1. Overview 9.1.2. Financials 9.1.3. Type portfolio 9.1.4. Business Strategy 9.1.5. Recent Developments 9.2. Central Electronics 9.2.1. Overview 9.2.2. Financials 9.2.3. Type portfolio 9.2.4. Business Strategy 9.2.5. Recent Developments 9.3. Chemtrols Solar 9.3.1. Overview 9.3.2. Financials 9.3.3. Type portfolio 9.3.4. Business Strategy 9.3.5. Recent Developments 9.4. Emmvee Solar Systems 9.4.1. Overview 9.4.2. Financials 9.4.3. Type portfolio 9.4.4. Business Strategy 9.4.5. Recent Developments 9.5. Euro Multivision 9.5.1. Overview 9.5.2. Financials 9.5.3. Type portfolio 9.5.4. Business Strategy 9.5.5. Recent Developments 9.6. IndoSolar 9.6.1. Overview 9.6.2. Financials 9.6.3. Type portfolio 9.6.4. Business Strategy 9.6.5. Recent Developments 9.7. Jupiter Solar Power 9.7.1. Overview 9.7.2. Financials 9.7.3. Type portfolio 9.7.4. Business Strategy 9.7.5. Recent Developments 9.8. Lanco Solar Private 9.8.1. Overview 9.8.2. Financials 9.8.3. Type portfolio 9.8.4. Business Strategy 9.8.5. Recent Developments 9.9. Mahindra Solar One 9.9.1. Overview 9.9.2. Financials 9.9.3. Type portfolio 9.9.4. Business Strategy 9.9.5. Recent Developments 9.10. Moser Baer Photovoltaic 9.10.1. Overview 9.10.2. Financials 9.10.3. Type portfolio 9.10.4. Business Strategy 9.10.5. Recent Developments