Industry and News Solar Water Heater Market | Page 2

In addition, extensive applications of water heaters in manufacturing industry include food &
beverage processing, thermal power plants and chemical industries is likely to drive the growth over
the forecast period.
Growing consumer awareness regarding the heater benefits is expected to escalate the market
progress significantly over the upcoming years. In addition, technological innovations are leading for
cost efficient water heaters and are expected to influence the development of the sector positively
over the forecast period. Furthermore, changing trends regarding the implementation of safe water
heaters are likely to impel product demand. Additionally, inclination towards consumer quality
standards and energy efficiency are expected to open new opportunities over the forecast period.
Frequent outages and electricity shortage may act as significant constraints in the usage of solar
heaters.
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Rising demand in a wide range of domestic applications including bathing, cleaning, and cooking,
also from commercial sectors including hospitals and hotels is expected to impel the solar water
heaters market growth. Developed infrastructure in rural areas is expected to open new market
opportunities players. The solar water heaters sector is categorized by increased energy efficiency,
quality standards, and safety awareness. Electricity shortages and fluctuation are expected to propel
the market growth. The popularity of alternate fuels such as electrical power product and adoption
of hybrid products is expected to restrain the product demand over the forecast period. Hybrid
water heater operates on more than two energy sources which in turn offer switching option to
customers. Rising electricity prices, changes in government regulations, and volatile raw material
prices are estimated to impel the product demand.
The global solar water heaters industry is increasingly getting inclined storage to tankless products.
Nonetheless, storing products is anticipated to be the major product segment over the upcoming
years. Solar storage water heaters are progressively being used in areas where electricity
accessibility is limited, which allows continuous accessibility of hot water. Asia Pacific is anticipated