Solar Water Heater Market Size, Share, Trends, Growth and Forecast 2032

Global Solar Water Heater Market Insights

According to a report from Zion Market Research, the global Solar Water Heater Market was valued at USD 5.55 Billion in 2023 and is projected to hit USD 8.99 Billion by 2032, with a compound annual growth rate (CAGR) of 5.5% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Solar Water Heater industry over the next decade.

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Solar Water Heater Market: Overview

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.

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GlobalSolar Water Heater Market: Segmentation

The study provides a decisive view of the solar water heater market by segmenting the market based on By type by Region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

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.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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.

Solar Water Heater Market: Report Scope

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.

Regions Covered

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
• Jupiter Solar Power.
• 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
• XL Energy.

This report segments the Global Solar Water Heater Marke as follows:

Global Solar Water Heater Marke: The Type Analysis

• Direct Solar Water Heating Systems
• Indirect Solar Water Heating Systems
• Active Solar Water-heating Systems
• Passive Solar Water Heating Systems

Solar Water Heater Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany 
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa