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Global Solar Water Heater Market by Type, Capacity, and End User: Opportunity Analysis and Industry Forecast, 2020-2027

  • ID: 5237526
  • Report
  • November 2020
  • Region: Global
  • 301 pages
  • Allied Analytics LLP
The global solar water heater market was valued at $4.7 billion in 2019, and is projected to reach $6.7 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.



Solar water heater, also known as solar domestic hot water systems, is majorly used as a cost-effective way to generate hot water for residential, commercial, and industrial end users. The system consists of a water tank and a solar collector. Solar collectors are of two types, glazed and unglazed. Glazed solar collectors are often preferred for large applications due to their high absorption efficiency. Some of the major applications of solar water heater include preheating boiler feed water and washing & cleaning in hospitals, hotels, and dormitories.

Increase in demand for cost-effective energy solutions for water heating is expected to boost the market growth. Zero emission from solar water heater makes it a suitable choice over conventional gas water heaters. In addition, solar water heaters consume zero natural resources such as oil and gas. For instance, the sun shining on 1m² of roof replaces 100 liters of heating oil or 100m³ of natural gas. Furthermore, rise in concern from governments on installation of solar products is anticipates to positively impact the market growth. Governments across the globe implement new rebate and incentive schemes to attract new customer segments. For instance, all residential and commercial areas in Victoria, Australia rebates are worth up to $700 depending on the type and size of the system installed. However, solar water heating needs large roof area and direct exposure to sunlight as it may not function on cloudy or foggy days. Nonetheless, advancements in back up energy systems maintaining performance on cloudy days are projected to create lucrative opportunities in the market.

The global solar water heater market is segmented on the basis of type, capacity, and end user. On the basis of type, it is divided into glazed and unglazed. Glazed water heater can absorb much sunlight than unglazed water heater, which makes it suitable for different climates throughout the year. Based on capacity, it is categorized into 100 liter, 150 liter, 200 liter, and others. The 200 liter capacity segment accounted for significant revenue share. This is attributed to increase in demand in the residential sector. Based on end user, it is segmented into residential, industrial, and commercial. The residential sector accounted for significant revenue share, owing to rise in investment in the construction sector in the re-establishment and refurbishment of buildings. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, with country level analysis of each region.

Major players have adopted product launch, business expansion, and acquisition to sustain the intense market competition. The key players profiled in the report include Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN Company, Solav Energy, Zhejiang JiaDeLe Solar Co., Ltd., SunPower Corporation, A.O. Smith, and Alternate Energy Technologies.

COVID-19 scenario analysis:
  • The global solar water heater market is expected to witness significant downfall in the long term.
  • This is attributed to shortage of manpower and social distancing norms, which delayed new installations.
  • In addition, the sharp decline in consumer expenditure highly affected the demand for various solar panels and solar collectors.
  • Moreover, the upstream and downstream channels have been negatively impacted during the lockdown, which led to increase in inventory carrying cost.
  • Furthermore, high dependency on Chinese exports for solar cell and solar module negatively impacted the market. Since the manufacturing firms in China were idle for the last few months, it highly impacted the production process in India.
KEY BENEFITS FOR STAKEHOLDERS:
  • The global solar water heater market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides in-depth analysis of the global solar water heater market for the period 2020-2027.
  • The report outlines the current global solar water heater market trends and future estimations of the global solar water heater market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
  • Key drivers, restraints, & opportunities and their detailed impact analysis of the global solar water heater market are explained in the study.
Key market segments

By Type
  • Glazed
  • Unglazed
By Capacity
  • 100L
  • 150L
  • 200L
  • Others
By End User
  • Residential
  • Industrial
  • Commercial
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • Spain
  • Italy
  • Austria
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Australia
  • Turkey
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Rest of LAMEA
Note: Product cover images may vary from those shown
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models

Chapter 2: Executive Summary
2.1. Key Findings of the Study
2.2. CXO Perspective

Chapter 3: Market Landscape
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.3. Porter's Five Forces Analysis
3.4. Market Share Analysis & Top Player Positioning, 2019
3.4.1. Top Player Positioning, 2019
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Surge in Demand for Cost Effective and Eco-Friendly Energy Solutions
3.5.1.2. Substantial Government Policies for Various Rebate and Energy Schemes
3.5.2. Restraint
3.5.2.1. Large Roof Area for Solar Water Heating
3.5.3. Opportunity
3.5.3.1. Advancements in Energy Back Up Systems for Solar Water Heater
3.6. Impact of Covid-19 Outburst on Solar Water Heater Market

Chapter 4: Solar Water Heater Market, by Type
4.1. Overview
4.1.1. Market Size and Forecast
4.2. Glazed
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Region
4.3. Unglazed
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region

Chapter 5: Solar Water Heater Market, by Capacity
5.1. Overview
5.1.1. Market Size and Forecast
5.2.100 L
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, by Region
5.3.150 Liter
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast, by Region
5.4.200 Liter
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast, by Region
5.5. Others
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast, by Region

Chapter 6: Solar Water Heater Market, by End-User
6.1. Overview
6.1.1. Market Size and Forecast
6.2. Residential
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Region
6.3. Commercial
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Region
6.4. Industrial
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast, by Region

Chapter 7: Solar Water Heater Market, by Region
7.1. Overview
7.1.1. Market Size and Forecast
7.2. North America
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast, by Type
7.2.3. Market Size and Forecast, by Capacity
7.2.4. Market Size and Forecast, by End-User
7.2.5. Market Share Analysis, by Country
7.2.5.1. U.S.
7.2.5.1.1. Market Size and Forecast, by Type
7.2.5.1.2. Market Size and Forecast, by Capacity
7.2.5.1.3. Market Size and Forecast, by End-User
7.2.5.2. Canada
7.2.5.2.1. Market Size and Forecast, by Type
7.2.5.2.2. Market Size and Forecast, by Capacity
7.2.5.2.3. Market Size and Forecast, by End-User
7.2.5.3. Mexico
7.2.5.3.1. Market Size and Forecast, by Type
7.2.5.3.2. Market Size and Forecast, by Capacity
7.2.5.3.3. Market Size and Forecast, by End-User
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast, by Type
7.3.3. Market Size and Forecast, by Capacity
7.3.4. Market Size and Forecast, by End-User
7.3.5. Market Share Analysis, by Country
7.3.5.1. Germany
7.3.5.1.1. Market Size and Forecast, by Type
7.3.5.1.2. Market Size and Forecast, by Capacity
7.3.5.1.3. Market Size and Forecast, by End-User
7.3.5.2. Spain
7.3.5.2.1. Market Size and Forecast, by Type
7.3.5.2.2. Market Size and Forecast, by Capacity
7.3.5.2.3. Market Size and Forecast, by End-User
7.3.5.3. Italy
7.3.5.3.1. Market Size and Forecast, by Type
7.3.5.3.2. Market Size and Forecast, by Capacity
7.3.5.3.3. Market Size and Forecast, by End-User
7.3.5.4. Austria
7.3.5.4.1. Market Size and Forecast, by Type
7.3.5.4.2. Market Size and Forecast, by Capacity
7.3.5.4.3. Market Size and Forecast, by End-User
7.3.5.5. Rest of Europe
7.3.5.5.1. Market Size and Forecast, by Type
7.3.5.5.2. Market Size and Forecast, by Capacity
7.3.5.5.3. Market Size and Forecast, by End-User
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast, by Type
7.4.3. Market Size and Forecast, by Capacity
7.4.4. Market Size and Forecast, by End-User
7.4.5. Market Share Analysis, by Country
7.4.5.1. China
7.4.5.1.1. Market Size and Forecast, by Type
7.4.5.1.2. Market Size and Forecast, by Capacity
7.4.5.1.3. Market Size and Forecast, by End-User
7.4.5.2. India
7.4.5.2.1. Market Size and Forecast, by Type
7.4.5.2.2. Market Size and Forecast, by Capacity
7.4.5.2.3. Market Size and Forecast, by End-User
7.4.5.3. Australia
7.4.5.3.1. Market Size and Forecast, by Type
7.4.5.3.2. Market Size and Forecast, by Capacity
7.4.5.3.3. Market Size and Forecast, by Capacity
7.4.5.4. Turkey
7.4.5.4.1. Market Size and Forecast, by Type
7.4.5.4.2. Market Size and Forecast, by Capacity
7.4.5.4.3. Market Size and Forecast, by End-User
7.4.5.5. Rest of Asia-Pacific
7.4.5.5.1. Market Size and Forecast, by Type
7.4.5.6. Market Size and Forecast, by Capacity
7.4.5.6.1. Market Size and Forecast, by End-User
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast, by Type
7.5.3. Market Size and Forecast, by Capacity
7.5.4. Market Size and Forecast, by End-User
7.5.5. Market Share Analysis, by Country
7.5.5.1. Brazil
7.5.5.1.1. Market Size and Forecast, by Type
7.5.5.1.2. Market Size and Forecast, by Capacity
7.5.5.1.3. Market Size and Forecast, by End-User
7.5.5.2. South Africa
7.5.5.2.1. Market Size and Forecast, by Type
7.5.5.2.2. Market Size and Forecast, by Capacity
7.5.5.2.3. Market Size and Forecast, by End-User
7.5.5.3. Rest of LAMEA
7.5.5.3.1. Market Size and Forecast, by Type
7.5.5.3.2. Market Size and Forecast, by Capacity
7.5.5.3.3. Market Size and Forecast, by End-User

Chapter 8: Competitive Landscape
8.1. Introduction
8.2. Product Mapping of Top 10 Players
8.3. Competitive Heatmap
8.4. Key Development
8.4.1. Acquisition

Chapter 9: Company Profiles
9.1. Himin Solar Energy Group
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Operating Business Segments
9.1.4. Product Portfolio
9.2. V-Guard Industries Ltd
9.2.1. Company Overview
9.2.2. Company Snapshot
9.2.3. Operating Business Segments
9.2.4. Product Portfolio
9.2.5. Business Performance
9.3. Ariston Thermo Spa
9.3.1. Company Overview
9.3.2. Company Snapshot
9.3.3. Operating Business Segments
9.3.4. Product Portfolio
9.3.5. Business Performance
9.3.6. Key Strategic Moves and Developments
9.4. Kodsan
9.4.1. Company Overview
9.4.2. Company Snapshot
9.4.3. Operating Business Segments
9.4.4. Product Portfolio
9.5. Solav Energy
9.5.1. Company Overview
9.5.2. Company Snapshot
9.5.3. Operating Business Segments
9.5.4. Product Portfolio
9.6. Zhejiang Jiadele Solar Energy Co. Ltd.
9.6.1. Company Overview
9.6.2. Company Snapshot
9.6.3. Operating Business Segments
9.6.4. Product Portfolio
9.7. Solahart
9.7.1. Company Overview
9.7.2. Company Snapshot
9.7.3. Operating Business Segments
9.7.4. Product Portfolio
9.8. Jiangsu Sunpower Solar Technology Co.Ltd
9.8.1. Company Overview
9.8.2. Company Snapshot
9.8.3. Operating Business Segments
9.8.4. Product Portfolio
9.9. A. O. Smith India Water Products Pvt. Ltd.
9.9.1. Company Overview
9.9.2. Company Snapshot
9.9.3. Operating Business Segments
9.9.4. Product Portfolio
9.9.5. Business Performance
9.10. Alternate Energy Technologies
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Operating Business Segments
9.10.4. Product Portfolio
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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