Global Solar Water Heater Market will surpass 2.5 million units by 2024
Global Solar Water Heater Market will surpass 2.5 million units by 2024
The U.S. solar water heater market share is projected to surpass 50 thousand units by 2024, propelled by Introduction of government initiatives to encourage adoption of solar technologies along with growing concern to reduce greenhouse gas emission.
SELLBYVILLE, Del., March 15, 2018 /PRNewswire-iReach/ -- The Industry growth report "Solar Water Heater Market Size By Collector (Evacuated Tube, Flat Plate and Unglazed Water), By System (Thermosyphon, Pumped), By Application (Swimming Pool Heating, Domestic Water Heating, Large Domestic Water Heating) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Austria, Spain, Turkey, Denmark, Italy, Switzerland, France, China, Australia, India, Japan, South Korea, Israel, South Africa, Saudi Arabia, UAE, Jordan, Brazil, Mexico), Competitive Market Share & Forecast, 2017 - 2024" by Global Market Insights, Inc. forecast Solar Water Heater Market share is expected to cross $4 billion by 2024.
Rising concern to maintain fossil fuel sustainability along with stringent government norms to reduce carbon emissions will stimulate the solar water heater market growth. Introduction of several targets to reduce carbon emissions and encourage the development of renewable energy will further complement the industry growth. In 2016, the government of UK sets target to reduce carbon emissions up to 57% by 2030 from 1990 levels.
Growing demand for environment friendly, cost effective and reliable systems for water heating purposes across commercial, industrial, and residential sector will augment the solar water heater market. Ability to reduce electricity bill by 50% to 80% will encourage the product penetration over the forecast timeline.
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China solar water heater market size is predicted to exceed 45GWth by 2024. Introduction of green building regulations and standards to curb greenhouse gas emissions will positively impact the business landscape. Technological innovation in evacuated tube collector design to reduce the cost and improve efficiency of solar thermal system will further boost the product demand.
Thermosyphon solar water heater market is predicted to witness strong growth owing to its wide application across commercial and residential buildings. Cost effectiveness, ease of installation and simple design are some of the primary benefits which will boost the product penetration.
Browse key industry insights spread across 250 pages with 660 market data tables & 10 figures & charts from the report, "Solar Water Heater Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/solar-water-heater-market
Favourable measures to encourage the deployment of solar energy along with strict government regulations to reduce greenhouse gas emissions will propel the U.S. solar water heater market share. Under the Obama administration, the country set target to reduce GHG emissions up to 28% by 2025 from 2005 level. Positive outlook towards housing sector will further complement the business growth.
Italy in 2016, accounted for over 5% of the Europe solar water heater market share. Introduction of building code with an aim to reduce the overall emissions will further boost the product demand. In March 2011, the government of Italy introduced law number 28 according to which all new building and buildings that are under construction have been required to fulfil up to 50% of hot water demand with renewable energies since June 2012.
Revamp of social housing program for lower income families will drive the Brazil solar water heater market. In August 2016, the United Nation relaunched the Minha Casa, Minha Vida, a social housing program for lower income group which mandated installation of SWH in new buildings.
Increasing investment toward renewable energy development will augment the Jordan solar water heater market. In 2016, the EU invested USD 170.56 million to support the development of green energy including Renewable Energy and Energy Efficiency II program in Jordan under the 2014-2017 bilateral strategy.
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Industry giants across solar water heater market include Wagner, Bosch, Alternate Energy Technologies, V Guard Industries, Himin Solar Energy, SunTank, Viessmann, EMMVEE, Rinnai, Chromagen, Linuo Ritter, A.O. Smith, Rheem, Racold and Bradford White.
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Global Wind Energy Market Size 2017 - 2024
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https://www.gminsights.com/industry-analysis/wind-energy-market
Hybrid Solar Wind Market Size 2016 - 2024
Global Hybrid Solar Wind Market share was over USD 700 million in 2015 with forecast of more than 8% from 2016 to 2024. Increasing demand for clean fuel off grid electricity will boost the demand for global hybrid solar wind systems in the near terms. As of 2015, over 1 billion people across the globe, i.e. 17% of world population, has no or poor access to reliable electricity.
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