Solar Water Heater Market Size and Share Global Industry Trend Forecast 2018 to 2025
Global solar water heater market is expected to witness a lucrative growth on account of rising number of domestic housing projects across the world. Rising disposable income and shifting trend for a tank less water heaters are expected to fuel the market. Factors including improved environment sustainability, energy efficiency and temperature control for a longer period are projected to stimulate the demand for these products over the forecast period. Growing requirements for a broad range of domestic applications which include cleaning, cooking, bathing and space heating is expected to escalate the product demand. Increasing implementation in the commercial and industrial sector is expected to drive the industry growth. Moreover, increasing demand for hot water from hospitals and hotels is anticipated to be a key stimulating factor for the solar water heaters sector growth. In addition, extensive applications of water heaters in manufacturing industry include food & beverage processing, thermal power plants and chemical industries is likely to drive the growth over the forecast period.
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