GCC Solar Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

GCC Solar Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The GCC solar water heater market size reached US$ 82.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 207.6 Million by 2028, exhibiting a growth rate (CAGR) of 16.4% during 2023-2028.

Solar water heater is a device which uses solar energy from the sun to heat water. It is generally installed on terrace or in open spaces where abundant sunlight is available. The water is then heated during the day and stored in an insulated tank. The heated water can be used for bathing, cleaning, space heating, industrial process, etc. In the GCC region, the market for solar water heater has been expanding as an increasing number of consumers have become aware about its advantages. Solar water heater is preferred over conventional water heater as it is cost-effective and reduces dependence over fossil fuels.

The market for solar water heater in the GCC region is being driven by a number of favourable factors. Solar water heater offers several long-term advantages over conventional water heater. It reduces electricity consumption, lowers carbon footprints, improves energy independence, etc. The governments in the region are also encouraging the use of solar water heater through building regulation and providing subsidies.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC solar water heater market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

Covering Flat Plate Collector
Evacuated Tube Collector
Unglazed Water Collector

The report has segmented the GCC solar water heater market on the basis of type covering flat plate collector, evacuated tube collector and unglazed water collector. Currently, covering flat plate collector accounts for the largest market share in the GCC region.

Breakup by Application:

Commercial
Residential
Government buildings
Others

The report has also segmented the market on the basis on application. The key applications of solar water heater include commercial, residential, government buildings and others.

Breakup by Region:

Saudi Arabia
UAE
Kuwait
Oman
Qatar
Bahrain

Region - wise, Saudi Arabia represents the largest market for solar water heater, accounting for the majority of the market share.

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Ariston Holding N.V., Orbital Horizon, Saudi Ceramic Company, Viessmann Group and Ecotherm Austria GmbH, etc.

This report provides a deep insight into the GCC solar water heater industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a solar water heater manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC solar water heater industry in any manner.

Key Questions Answered in This Report:

How has the GCC solar water heater market performed so far and how will it perform in the coming years?
What are the key regional markets in the GCC solar water heater industry?
What has been the impact of COVID-19 on the GCC solar water heater industry?
What are the key type in the GCC solar water heater industry?
What are the key application segments in the GCC solar water heater industry?
What are the price trends of solar water heater in the GCC region?
What are the various stages in the value chain of the GCC solar water heater industry?
What are the key driving factors and challenges in the GCC solar water heater industry?
What is the structure of the GCC solar water heater industry and who are the key players?
What is the degree of competition in the GCC solar water heater industry?
What are the profit margins in the GCC solar water heater industry?
What are the key requirements for setting up a GCC solar water heater manufacturing plant?
How is solar water heater manufactured?
What are the various unit operations involved in a solar water heater manufacturing plant?
What is the total size of land required for setting up a solar water heater manufacturing plant?
What are the machinery requirements for setting up a solar water heater manufacturing plant?
What are the raw material requirements for setting up a solar water heater manufacturing plant?
What are the packaging requirements for solar water heater?
What are the transportation requirements for solar water heater?
What are the utility requirements for setting up a solar water heater manufacturing plant?
What are the manpower requirements for setting up a solar water heater manufacturing plant?
What are the infrastructure costs for setting up a solar water heater manufacturing plant?
What are the capital costs for setting up a solar water heater manufacturing plant?
What are the operating costs for setting up a solar water heater manufacturing plant?
What will be the income and expenditures for a solar water heater manufacturing plant?
What is the time required to break-even?