Solar Water Heaters Market Worth $4.13 Billion by 2025 | CAGR: 8.1%: Grand View Research, Inc.

Solar energy is among the cleanest sources of energy available in the market. Rising awareness regarding the significance of energy conservation is predicted to augment the global market over the forecast period. Stringent regulations to substantially reduce rampant emission of greenhouse gases into the environment are projected to further boost business by 2025.

The residential segment of the solar water heaters market was worth USD 777.2 million in 2016 and is anticipated to reach USD 1,655.4 million over the forecast period. The segment comprises both large and small homes, township properties, and gated communities and households. In terms of revenue, the commercial segment is slated to register the highest revenue-based CAGR of 9.1% during the forecast period. This segment includes establishments such as educational institutions, recreational facilities, transport, and healthcare.

In terms of technology, the Evacuated Tube Collector (ETC) segment market accounted for 773.3 thousand units in 2016 and is expected to witness rapid growth by 2025. Economical pricing, improved capacity, and greater efficiency are anticipated to boost segment growth over the forecast period. In 2016, the Flat Plate Collector (FPC) segment held a 30.78% share in the global solar water heaters market revenue. High adoption of FPCs along with low manufacturing costs compared to existing technologies is predicted to support segment growth through 2025.

Browse full research report with TOC on"Solar Water Heaters Market Size, Share & Trends Analysis Report, By Technology (ETC, FPC, UWC), By Application (Residential, Commercial, Industrial), By System, By Region, And Segment Forecasts, 2018 - 2025" at:https://www.grandviewresearch.com/industry-analysis/solar-water-heaters-market

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Grand View Research has segmented the global solar water heaters market on the basis of technology, system, application, and region: 

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