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Solar Water Heater Market Valued at $4.7B in 2019, Projected to Attain $6.7B by 2027 with a CAGR of 6.1% from 2020-2027


Solar Water Heater

Solar Water Heater

WILMINGTON, DE, UNITED STATES, June 10, 2024 / — The international photo voltaic water heater market was valued at $4.7 billion in 2019, and is predicted to achieve $6.7 billion by 2027, rising at a CAGR of 6.1% from in 2020 to 2027.

A photo voltaic water heater is a tool, which takes daylight to warmth water. It collects the warmth with the assistance of the photo voltaic collector, and the warmth is transmitted to the water tank with the assistance of a circulating pump. This helps in vitality consumption as a result of solar energy is free not like pure sources like pure gasoline or fossil fuels.

Increasing demand for water heating techniques in distant and rural areas is predicted to drive the expansion of the market. Small photo voltaic water heaters are principally utilized in rural areas as a consequence of their low value and excessive effectivity in several weather conditions. For instance, China has practically 5,000 small and medium-scale photo voltaic water heater producers and most of them serve rural areas. In addition, intensive authorities assist by way of rebates and vitality schemes is predicted to additional entice new prospects, thereby boosting market development.

Based on sort, the glazed phase has emerged because the market chief, as a result of excessive absorption effectivity of glazed collectors in comparison with non-glazed collectors. However, the excessive value of glazed collectors could stop use for small purposes.

๐ˆ๐Ÿ ๐ฒ๐จ๐ฎ ๐ก๐จ๐ญ๐ญ๐จ๐ฒ ๐ด๐ฎ๐ฌ๐ญ๐ข๐จ๐จ๐ฌ, ๐ƒ๐ฅ๐จ๐ญ๐ญ๐ข๐ญ ๐ญ๐จ ๐จ๐จ๐จ๐ญ๐ญ๐ญ๐จ๐จ๐จ๐ญ๐ญ๐ญ๐ญ๐ญ๐ข๐ญ๐ญ๐ญ๐ญ:–analyst/a07957

On the premise of capability, the 100 liter capability phase accounts for vital market share. This is as a result of enhance in demand within the residential sector. An affordable photo voltaic water heater with 100 liter capability is sufficient for a household with 2-3 members in residential homes.

The residential photo voltaic water heater phase accounts for a big share of the market, owing to robust funding within the development sector for the reconstruction and renovation of buildings. Most of those new buildings have photo voltaic collectors put in on the roof, that are linked to the water tank by way of a circulating pump.

North America accounts for a big share of the market, owing to favorable authorities measures to advertise solar energy applied sciences for residential and industrial areas.

Major gamers have adopted product launches, enterprise expansions, and acquisitions to maintain intense market competitors. Key gamers profiled within the report embrace Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN Company, Solav Energy, Zhejiang JiaDeLe Solar Co., Ltd., SunPower Corporation, AO Smith, and Alternate Energy Technologies.

๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐†๐ž๐ญ๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐ƒ๐ข๐ฌ๐œ๐ ๐ญ๐œ ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

๐Š๐ž๐ฒ ๐…๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐’๐ญ๐ฎ๐๐ฒ:

The glazed sola water heater is predicted to develop on the highest CAGR of roughly 6.2%, by way of income, in the course of the forecast interval.
By capability, the remaining phase is predicted to develop with a CAGR of 8.2%, by way of income, in the course of the forecast interval.
Asia-pacific dominated the market with practically 55% income share in 2019.

๐Š๐ž๐ฒ ๐Œ๐ซ๐ซ๐ค๐ž๐ญ ๐๐ฅ๐ฅ๐ฒ๐ž๐ซ๐ฌ:

Solav Energy
V-Guard Industries Ltd
AO Smith India Water Products Pvt. Ltd.
Alternative Energy Technologies
Ariston Thermo SpA
Himin Solar Energy Group
Zhejiang JiaDeLe Solar Energy Co., Ltd.
Jiangsu Sunpower Solar Technology Co.,ltd

David Correa
Allied Market Research
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