Market Trends of Solar Water Heater Industry
This section covers the major market trends shaping the Solar Water Heater Market according to our research experts:
Glazed Thermal Collector Type to Dominate the Market
- A glazed collector is made from copper tubing on an aluminium plate and has an iron-tempered glass covering, which is why they are usually more expensive. In colder periods, glazed collectors with heat exchangers transfer fluids, enabling them to absorb sunlight more effectively than unglazed collectors. They can be used throughout the whole year and in many different climates.
- Glazed collectors are generally of two types, namely, evacuated tubes and flat plates. The evacuated collector, also known as a vacuum tube collector, consists of a number of rows of parallel transparent glass tubes connected to a header pipe and where the heat transfer fluid circulates and absorbs heat generated by tubes.
- Unlike flat panel collectors, water is not directly heated within the tubes in evacuated tube collectors. Instead, a vacuum is created in the space between the two tubes. This vacuum acts as an insulator, reducing heat loss significantly to the surrounding atmosphere through convection or radiation, making the collector much more efficient than the internal insulating that flat plate collectors offer.
- Solar capacity continued to proliferate in 2021 globally, increasing by 132.8 GW, close to the record increase of 125.6 GW seen in 2020. Also, the installed solar photovoltaic power capacity in North America, Europe, and Middle-East recorded as 104.4 GW, 191.1 GW, and 8 GW, respectively. The growing solar capacities will, in turn, aid the growth of the solar water heater market.
- Therefore, gazed collectors are expected to dominate the solar water heater market during the forecast period, owing to the advantages such as higher efficiency, low maintenance cost, etc.
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Asia Pacific to Dominate the Market
- The international trend is growing toward replacing fossil fuel as a primary energy source with alternative energy sources, such as solar and wind, that are more environment-friendly and lower in cost compared to energy generated from fossil fuels.
- The region's large population and high rate of solar-powered device adoption are anticipated to be the key driving forces behind the market expansion for solar-powered water heaters. Additionally, it is anticipated that the economies of China and India would have a major impact on the expansion of the market for solar-powered water heaters in the Asia Pacific region.
- Solar thermal is one alternative solution that can be used in water heaters or for electric power generation. The utilization of such energy for water heating purposes can reduce end-consumer expenses related to electricity uses from the primary grid.
- In December 2022, The Asian Development Bank (ADB) and the Government of Mongolia signed a USD 2 million grant to increase efficient and renewable energy heating systems in remote areas in Mongolia. However, The majority of Mongolians still utilise coal as their primary source of heat, whether in home stoves, boilers, or coal-fired power facilities. High quantities of harmful air pollutants and greenhouse gas emissions have been caused by these techniques.
- Therefore, based on the above-mentioned factors, the Asia Pacific region is expected to dominate the solar water heater market during the forecast period.
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