Asia Pacific Solar Based Water Heater Market is Growing at Faster Rates with 6.9% CAGR | China Hitek Solar Co. Ltd., SunPower, Azuma Solar Co. Ltd
Recent report published by research nester 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, 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.
The Asia Pacific solar based water heater market has been segmented by end user into commercial, residential and industrial solar based water heaters. Among these segments, the residential and commercial segment is expected to drive the Asia Pacific solar based water heater market with highest market share by the end of 2024. This can be attributed to less maintenance required by solar based water heater. Further, with its renewable water heating and environment friendly properties is anticipated to boom the Asia Pacific solar based water heater market by noteworthy revenue by the end of forecast period.
The market for Asia Pacific solar based water heaters is anticipated to grow at robust compound annual growth rate (CAGR) of 6.9% over the period 2017-2024. Factors such as technological advancements and innovations on use of solar energy are expected to escalate the growth of Asia Pacific solar based water heaters market during the forecast period. Further, growing awareness towards use of green energy is likely to fuel the growth of Asia Pacific solar based water heaters market.
Based on countries in the region, China is the major contributor to drive the growth of Asia Pacific market and is projected to capture more than 50% share of the overall Asia Pacific solar based water heaters market during the forecast period owing to rising awareness towards benefits of solar energy. Further, India is the second leading market for solar based water heaters.
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Factors such as large potential of solar power generation and government initiatives are expected to fuel the growth of solar based water heaters market in India. Additionally, Japan is also expected to witness remarkable growth during the forecast period owing to growing use of renewable energy and high adoption rate of advanced technologies in this country.
Solar Energy Based Technologies to Reflect Significant Opportunities
Increasing awareness towards additional benefits of solar energy based technologies such as infinite availability of solar energy are likely to drive the Asia Pacific solar based water heaters market at robust pace. Additionally, government supports including tax relief in emerging Asian economies such as India is also expected to benefit the expansion of Asia Pacific solar based water heaters market.
However, limitations of solar based water heaters with respect to usage at night and weather conditions are likely to inhibit the growth of the market in the near future.
isk, 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:
China Hitek Solar Co. Ltd.,
Azuma Solar Co. Ltd.,
GreenTek India Pvt. Ltd.,
Inter Solar System,
Photon Energy Systems,
CHOFU Seisakusho Co. Ltd. and 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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This post was originally published on Aerospace Industry