Global Solar Water Heater market will reach 10.0 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/23

Stringent Government Regulations against Greenhouse Gas Emissions to Stoke Demand
Growing demand for energy-efficient water heaters, rising size of the global population, and increasing energy prices are prophesied to set the tone for significant growth of the global solar water heater market. The adoption of solar water heater is foretold to increase due to the implementation of tight government regulations to reduce greenhouse gas emissions.

On the other hand, the swelling demand for water heating systems is predicted to push the growth of the global market. However, lack of consumer awareness and high upfront costs are anticipated to hamper the global market growth.

As per the analysis provided in the report, the global market is foreseen to post a robust CAGR of 8.8% during the forecast period 2019-2025. By the end of 2025, the global market revenue is anticipated to touch more than 10.0 Mn, improving from that of over 5.0 Mn reached in 2018.

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