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Solar Water Heater Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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By Author: Statzy Market Research
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. The global outbreak of COVID-19 in the first quarter of 2020 led to disruption in the supply chain due to lockdown measures taken by various countries around the globe. The impact on the global economy is expected to be another major factor expected to affect this usage of technology negatively. However, the virus's effects seem to be under control in many countries. With lockdown measures lifted, the economies of these countries are boosted by significant recovery packages. However, other countries appear to still be very much in the midst of the crisis. Factors such as reducing carbon footprint and increasing efficiency, clubbed with the increase in usage of solar heater due to the declining prices and growing adoption of glazed solar heater, are likely to drive the solar water heater market during the forecast period. Moreover, favorable government policies and rising environmental concerns are expected to drive this technology during the forecast period. However, the improved cost-effectiveness associated with batteries or modules is expected to restrain the solar water heater market during the forecast period as the solar ...
... water heater installation requires major modification to a buildings plumbing systems and have relatively less life compared to solar PV.


The glazed solar water heater is expected to be the largest market during the forecst period, owing to the factors such as higher efficiency and lower maintenance cost.

Governments are pushing for schemes to push for solar water heater to reduce emissions from gas powered water heater and district heating system. Programs like solar city in Seoul are being introduced to subsidize the solar water heater market and make them cheaper to their alternatives. This, in turn, is likely to create opportunities for the players involved in the market in the near future.

The Middle-East and Africa region is expected to dominate the market, with the majority of the demand coming from countries such as Saudi Arabia, Turkey and Israel, etc.


Key Market Trends

Glazed Thermal Collector Type to Dominate the Market

A glazed collector is made from copper tubing on an aluminum plate and it has an iron tempered glass covering, which is the reason they usually are more expensive. In colder periods glazed collectors with heat exchangers transfer fluids enabling them to absorb sunlight a lot more effectively than unglazed collectors. They can be used throughout the whole year and in many different climates.

Glazed collectors is generally of two types namely, evacuated tube and flat plate. The evacuated collector, also known as vacuum tube collector, consists of a number of rows of parallel transparent glass tubes connected to a header pipe and where the heat transfer fluid circulates and absorbs heat generated by tubes.

Unlike flat panel collectors, water is not directly heated within the tubes in evacuated tube collectors. Instead, a vacuum is created in the space between the two tubes. This vacuum acts as an insulator reducing any heat loss significantly to the surrounding atmosphere either through convection or radiation, making the collector much more efficient than the internal insulating that flat plate collectors have to offer.

In 2018, the evacuated tube collector made up 70.4% of the total installed solar thermal capacity in the world, and 71.3% of the newly installed solar thermal capacity in the world.

Therefore, gazed collectors are expected to dominate the solar water heater market during the forecast period, owing to the advantages such as higher efficiency, and low maintenance cost, etc


Middle-East and Africa to Dominate the Market

The international trend is growing towards replacing fossil fuel as a primary energy source with alternative energy sources, such as solar and wind, that are more environment-friendly and lower in cost compared to energy generated from fossil fuel.

Middle-East is no different when it comes to the utilization of energy from alternative sources. Though the countries located in the reason are rich in hydrocarbon products, renewable energy uses such as solar energy is expected to reduce its carbon emission rate and expenses related to electricity consumption in various applications.

Solar thermal is one alternative solution that can be used in water heaters or for electric power generation. It has been estimated that the Middle-East region has the potential of generating solar power of around 5kW per meter square a day. The utilization of such energy for water heating purposes can reduce end-consumer expenses related to electricity uses from the primary grid.

However, the government's low importance towards the development of solar water heating facilities is likely to resist the market growth during the forecast period. Countries like Saudi Arabia, abundant in hydrocarbon resources, lacks a financial incentives program and domestic producers. Moreover, there are mere importers of solar water heaters in the country.

With a situation like low crude oil prices in 2020, the Middle-Eastern countries witnessed a drop in the economy. Such a situation is likely to develop a business model that is merely based on oil and would promote products related to renewable energy, such as the solar water heater.

Therefore, based on the above-mentioned factors, Middele-East and Africa region is expected to dominate the solar water heater market during the forecast period
Competitive Landscape

The global solar water heater market is fragmented. Some of the major players include Himin Solar Energy Group, V-Guard Industries Ltd, Ariston Thermo SpA, KODSAN Company, and Solav Energy.

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StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

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