Solar Water Heater Sector: Growth Drivers and Challenges
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 |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.8% |
|
Base Year Market Size (2024) |
USD 3.04 billion |
|
Forecast Year Market Size (2037) |
USD 6.33 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of solar water heater is estimated at USD 3.19 billion.
Solar Water Heater Market size was over USD 3.04 billion in 2024 and is anticipated to cross USD 6.33 billion by 2037, witnessing more than 5.8% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is set to account for largest revenue share by 2037, 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.
