Residential Solar Water Heaters Market Treands, market size, share, and growth forecast 2021-2027 | Racold, SunTank, Chromagen

The Global Residential Solar Water Heaters Market 2021-2027, provides actionable data to improve the growth strategies of market players. This report contains detailed analysis and growth forecasts for the Residential Solar Water Heaters market. The report carries a deeper understanding of the market by segmenting key players and highlighting any fetters or growth opportunities. The report also covers detailed analysis, including market dynamics, figures, and Residential Solar Water Heaters market segment analysis according to type, application, geographic region, and major key players are A.O. Smith, Alternate Energy, Rheem Manufacturing, Viessmann, V-Guard, Racold, SunTank, Chromagen, HiminSolar, Wagner Solar, Bradford White, EMMVEE Solar, Bosch Thermotechnology, Rinnai, Linuo Ritter

The Residential Solar Water Heaters market is expected to grow at a compound annual growth rate of 8.2% during the forecast period of 2021 to 2027.

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Market Overview:

Several nations like the United States, the United Kingdom, Germany, India, and others have set up ambitious targets to increase the renewable share in their energy mix. Governments across these nations have also planned to increase the renewable energy share through the deployment of residential solar PV systems in the coming years. This, in turn, is expected to act as an opportunity to the residential solar PV manufacturers and suppliers during the forecast period.

Asia-Pacific is expected to dominate the market primarily due to the increasing demand for clean electricity from major developing countries such as China, India, and ASEAN countries, over the forecast period.

Covid-19 Impact and Recovery Analysis:

COVID-19 has three primary effects on the global economy: it directly affects production and demand, disrupts supply chains and markets, and has a financial impact on firms and financial Residential Solar Water Heaters markets. Our analysts, who are keeping an eye on happenings all over the world, believe that the Residential Solar Water Heaters industry will provide lucrative opportunities for companies following the COVID-19 problem. The purpose of the report is to provide a more detailed picture of the current scenario, economic recession, and COVID-19’s impact on the whole industry.

Residential Solar Water Heaters Market Segmentation by Type:

Project Contractors

Individual Buyers

Residential Solar Water Heaters Market Segmentation by Application:

Evacuated Tube Collector

Flat Plate Collector

Unglazed Water Collector

Industrial News:

Asia-Pacific has accounted for more than 30% of the global residential solar PV market and is expected to continue its dominance during the forecast period as well.

In India, the residential PV installation cost is at USD 1000 per KW, which is higher when compared to its commercial counterpart (USD 692 per KW). However, the Indian costs of installations are cheaper when compared to the global average for both residential (USD 1638 per KW) and commercial (USD 1379 per KW).

Regional Analysis Includes:

Asia-Pacific

(China, Japan, Korea, India, and Southeast Asia) Market Size and/or Volume

Europe

(Germany, France, UK, Russia, and Italy, etc.) Market Size and/or Volume

North America

(The United States, Mexico, and Canada) Market Size and/or Volume

South America

(Brazil, Argentina, Columbia, etc.) Market Size and/or Volume

The Middle East and Africa

(Saudi Arabia, UAE, Egypt, Nigeria, and South Africa) Market Size and/or Volume

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