Global Solar Water Heater (SWH) Market Growth 2024-2030

Global Solar Water Heater (SWH) Market Growth 2024-2030

A Solar Water Heater is a device which provides hot water for bathing, washing, cleaning, etc. using solar energy. It is generally installed at the terrace or where sunlight is available and heats water during day time which is stored in an insulated storage tank for use when required including mornings.

Solar water heating systems include storage tanks and solar collectors. There are two types of solar water heating systems: active, which have circulating pumps and controls, and passive, which don't.

The global Solar Water Heater (SWH) market size is projected to grow from US$ 2844.3 million in 2023 to US$ 3650.8 million in 2030; it is expected to grow at a CAGR of 3.6% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Solar Water Heater (SWH) Industry Forecast” looks at past sales and reviews total world Solar Water Heater (SWH) sales in 2023, providing a comprehensive analysis by region and market sector of projected Solar Water Heater (SWH) sales for 2024 through 2030. With Solar Water Heater (SWH) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solar Water Heater (SWH) industry.

This Insight Report provides a comprehensive analysis of the global Solar Water Heater (SWH) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solar Water Heater (SWH) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Solar Water Heater (SWH) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solar Water Heater (SWH) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solar Water Heater (SWH).

It is expected that global demand for photovoltaic products will remain high in the next few years. According to our PV & Solar Research Center, by the end of 2022, the global cumulative installed photovoltaic power generation capacity is about 1180 GW. According to the data of China Photovoltaic Industry Association, the global newly installed photovoltaic capacity in 2022 is about 230 GW, and this number in 2023 is predicted to be 280-330 GW. According to the data of the Ministry of Industry and Information Technology, the total output value of China's photovoltaic industry exceeded 1.4 trillion yuan in 2022. From the perspective of production value, mainland China is still the global center of the PV industry. According to the International Energy Agency, China market share in all key products of the supply chain have exceeded 80%. Among them, the production capacity of silicon wafers, solar cells, and components accounts for as high as 98%, 85% and 77%, respectively. According to the data released by the European Photovoltaic Association, 27 EU countries gained a new PV installed capacity of 41.4 GW in 2022. According to the report of the US Solar Energy Industries Association (SEIA), the US held a new PV installed capacity of less than 19 GW in 2022. But it is estimated that from 2023, the average annual growth rate of new photovoltaic installed capacity will exceed 21%. In terms of Japan, based on data from Fitch and the US Energy Information Administration (EIA), in 2022, Japan's newly installed photovoltaic capacity was 3.381 GW.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar Water Heater (SWH) market by product type, application, key manufacturers and key regions and countries.

Segmentation by type
Compact Type
Split Type

Segmentation by application
Home Use
Commercial Use
Industrial Use

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
A.O.Smith
Rheem
Ariston Thermo
Whirlpool
Nihon Itomic
Simens
TATA Power Solar Systems
Bosch
Racold Thermo
Chemtrols
Ferroli
Stiebel Eltron
Eldominvest
Hubbell
State Industries
Sakura

Key Questions Addressed in this Report

What is the 10-year outlook for the global Solar Water Heater (SWH) market?

What factors are driving Solar Water Heater (SWH) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Solar Water Heater (SWH) market opportunities vary by end market size?

How does Solar Water Heater (SWH) break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.