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Solar Water Heater Market Trends

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Report ID: 3765
Published Date: Aug 23, 2024
Report Format: PDF, PPT

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Solar Water Heater Market Trends

Growth Drivers

Growing Demand for Eco-Friendly Solutions for Water Heating
Increasing Usage of Solar Heaters as a Result of Declining Prices

Challenges

Less Awareness about Solar Water Heaters in Underdeveloped Regions

Solar Water Heater Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	5.8%
Base Year Market Size (2023)	USD 2.87 billion
Forecast Year Market Size (2036)	USD 5.97 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Solar Water Heater Market Size & Share, Growth Analysis 2036

Author Credits: Dhruv Bhatia

Report ID: 3765
Published Date: Aug 23, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of solar water heater is estimated at USD 3 billion.

Solar Water Heater Market size was valued at USD 2.87 billion in 2023 and is likely to reach USD 5.97 billion by 2036, expanding at around 5.8% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by growing demand for eco-friendly solutions for water heating, and increasing usage of solar heaters as a result of declining prices.

Asia Pacific industry is likely to account for largest revenue share by 2036, backed by technological innovations to achieve energy efficiency at limited costs, and transition towards the use of clean and renewable energy in the region.

The major players in the market are Ariston Thermo SpA, V-Guard Industries Ltd, KODSAN Company, Himin Solar Co., Ltd., and others.

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