“Asia Pacific Solar Based Water Heater Market: Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation”
The Asia Pacific solar based water heater market is segmented into product type such as active solar based water heaters and passive solar based water heaters. Among these segments, active solar based water heaters segment is expected to occupy the top position in the market by the end of forecast period. The growth of active solar based water heaters segment is augmented by its high efficiency and increasing adoption of active solar based water heaters in commercial places. Apart from this, passive solar based water heaters segment is also witnessing significant growth owing to increasing demand for active solar based water heaters in residential applications.
Asia Pacific Solar Based Water Heater Market is expected to register a 6.9% CAGR over the forecast period. Moreover, rising demand for solar powered technologies is a key factor which is growing the solar based water heater market all over the Asia Pacific. Solar based water heater is more affordable, accessible, and prevalent energy as compared to other heating solution. This factor is envisioned to bolster the growth of market during the forecast period.
The commercial segment by end-user is likely to grow at remarkable pace during the forecast period. Increasing environmental concerns and high demand for low operating cost technologies are likely to be the major factors behind the growth of this segment over the forecast period. Furthermore, increasing installation of solar powered products in order to curb carbon emission is also a major factor which is escalating the growth of this segment in this region.
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Environment and Energy Saving Concerns
Increasing demand for pollution free energy across the Asia Pacific is expected to fuel the growth of Asia Pacific solar based water heater market in upcoming years. Further, industries are favoring renewable energy due to environmental concerns and to curb pollution is escalating the growth of solar based water heater market in Asia Pacific region.
Favourable Government Initiatives and Programmes
Governments of developed countries are encouraging the solar energy generating additions. For instance, Indian government cleared INR 50 billion (USD 750 million) funding for 30% capital subsidy for rooftop solar installations. However, presence of alternative technologies such as electric boilers is expected to inhibit the growth of the Asia Pacific solar based water heater market in the near future.
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The report titled “Asia Pacific Solar Based Water Heater Market: Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the Asia Pacific solar based water heater market in terms of market segmentation by product type, by technology, by component, by end-user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the Asia Pacific solar based water heater market which includes company profiling of China Hitek Solar Co. Ltd., SunPower, Azuma Solar Co. Ltd., Chiryu Heater, GreenTek India Pvt. Ltd., Inter Solar System, EMMVEE, Photon Energy Systems, CHOFU Seisakusho Co. Ltd., Solahart PV. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia Pacific solar based water heater market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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