Solar Water Heaters

Global Solar Water Heaters Market to Reach US$10.2 Billion by 2030

The global market for Solar Water Heaters estimated at US$6.7 Billion in the year 2024, is expected to reach US$10.2 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2024-2030. Evacuated Tube Collector, one of the segments analyzed in the report, is expected to record a 7.8% CAGR and reach US$4.9 Billion by the end of the analysis period. Growth in the Unglazed Water Collector segment is estimated at 6.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 11.0% CAGR

The Solar Water Heaters market in the U.S. is estimated at US$1.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2030 trailing a CAGR of 11.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.2% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.0% CAGR.

Global Solar Water Heaters Market - Key Trends and Drivers Summarized

How Are Solar Water Heaters Enhancing Residential and Commercial Energy Systems?

Solar water heaters utilize solar thermal collectors to heat water, providing an energy-efficient and cost-effective alternative to traditional water heating systems. These systems consist of solar collectors, storage tanks, and heat exchangers, capturing sunlight to heat water for residential, commercial, and industrial use. Solar water heaters offer benefits like reduced energy bills, lower carbon emissions, and long-term sustainability, making them popular choices in both urban and rural settings. With the increasing focus on green building solutions and energy efficiency, solar water heaters have become a key component in modern energy systems across the globe.

What Are the Key Segments in the Solar Water Heaters Market?

Major types include active systems (which use pumps to circulate water) and passive systems (which rely on natural circulation), with active systems holding the largest market share due to their higher efficiency and suitability for larger-scale applications. Applications include residential, commercial, and industrial water heating, with residential water heating representing a significant segment driven by rising energy costs and increased awareness of sustainable solutions. End-users include households, hotels, healthcare facilities, and manufacturing plants, with households leading the market as they adopt solar water heaters to reduce energy consumption and improve sustainability.

How Are Solar Water Heaters Integrated Across Various Sectors?

In residential homes, solar water heaters provide hot water for daily activities like bathing, cooking, and cleaning, reducing reliance on conventional water heaters and minimizing electricity or gas bills. In the commercial sector, hotels, hospitals, and educational institutions use solar water heaters to meet large-scale hot water demands, contributing to energy savings and improved operational efficiency. Industrial facilities deploy solar water heaters for processes like cleaning, washing, and heat-intensive manufacturing operations, supporting sustainable production practices and reducing fossil fuel dependency. Additionally, government incentives and subsidies have encouraged widespread adoption, making solar water heaters a cost-effective solution for both urban and rural areas.

What Factors Are Driving the Growth in the Solar Water Heaters Market?

The growth in the Solar Water Heaters market is driven by several factors, including increasing energy costs, which have prompted households and businesses to seek more sustainable and cost-effective heating solutions. Advancements in solar thermal technology, such as improved collector designs and heat exchangers, have enhanced the efficiency and performance of solar water heaters, supporting broader adoption across residential, commercial, and industrial sectors. The focus on reducing carbon emissions and achieving energy efficiency has further fueled demand, as governments and organizations aim to meet sustainability targets. Additionally, government subsidies, tax incentives, and low-interest loans for renewable energy installations have contributed to market growth by making solar water heaters more affordable and accessible to a wider range of consumers.

SCOPE OF STUDY:

The report analyzes the Solar Water Heaters market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Technology (Evacuated Tube Collector, Unglazed Water Collector, Flat Plate Collector); Application (Residential, Industrial, Commercial)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 34 Featured) -

• A.O. Smith
• Alternate Energy
• Bradford White
• Chromagen
• HiminSolar
• Racold
• Rheem Manufacturing
• SunTank
• V-Guard
• Viessmann
• Wagner Solar

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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