According to market research, the global solar water heater market is expected to grow by 8.5% during the forecast period (2018-2023). Solar water heaters provide hot water for a variety of applications in industrial, commercial and residential applications. The system uses flat collectors, vacuum tube collectors and heat pipe collectors to store solar energy, and the process saves energy costs. Solar water heaters are devices that rely on sunlight to rapidly heat water using solar collectors. The benefits that these solar water heaters can bring, such as low energy, reduced costs and reduced carbon footprint, will benefit users.
Solar water heaters are a device that provides hot water for industrial, commercial and residential applications. Solar water heaters consist of a series of collectors for collecting and storing solar energy. Three types of solar collectors, such as flat collectors, vacuum tube collectors, and heat pipe collectors, are primarily used in residential applications.
The market is driven primarily by government initiatives to reduce carbon emissions and save non-renewable resources. The increase in applications in the construction industry is expected to drive the global solar water heater market forward. Advanced technology further alleviates the integration process of solar water heaters in different industries. The technology is gaining traction because it can reduce the cost and expense of the housing sector, which is why the global solar water heater market is expected to grow rapidly.
1. Global solar water heater market segmentation analysis:
The global solar water heater market is broken down by type, collector type and application.
By type, the market includes the use of pump cycles and thermosiphon cycles. Due to its ease of installation, low product prices and high product usage, the thermosyphon cycle type can enjoy the largest market share until 2023.
According to the type of collector, it is divided into heat pipe collector, flat collector and vacuum tube collector. Due to its effectiveness, simple design and ease of installation, the flat panel collector can gain significant market share by 2023. Technological breakthroughs that increase the efficiency of collectors can drive growth in market segments. On the other hand, vacuum tube collectors can enjoy significant growth due to the need for energy efficient heating solutions in commercial and industrial buildings.
According to the application, it is divided into industrial, commercial and residential. The residential market can achieve the highest growth rates over the predicted time horizon.
2. Regional analysis:
In-depth analysis of market demographics in five regions, including North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and South America, in a regional-specific analysis of the global solar water heater market.
The Asia Pacific market has the largest market coverage and the regional market is accelerating as the residential sector is following smart home and eco-friendly residential models. The region has the largest number of people living in the area, and the residential market will not plummet in the short term. People can also see the rise of renewable energy, and government regulations are helping regional residential and commercial sectors to boost market development.
The European market has performed well as the region has long established environmentally friendly policies. This helps the regional housing sector implement the latest technology to ensure a solar water heater approach. North America is also on the same line, as high growth is likely to occur in the next few years.
Through market research and investigation, we have made predictions on the development trend of solar water heaters in the next few years, which can also help us understand the development trend of solar water heaters in the next few years. We can use this as the solar water heater industry in various regions. There are certain plans to prepare for future development and procurement for different groups of people and markets.
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