Industry and News Solar Water Heater Market | Page 3

to be the major regional market over the next eight years on account of developing markets
including India and China. The North American solar water heaters industry is expected to witness
growth primarily due to growing replacement demand. In April 2015 an amendment to the national
energy conservation act is expected hammer market growth in North America on account of
stringent energy efficiency standards.
The key market players operating in the market include Siemens AG, Rheem Manufacturing Co.,
A.O. Smith Corp, and GE Co. led the solar water heaters market share in 2015. Reduction, material
loss, delay and cancellation in the purchase by large customers is expected to hinder growth over
the upcoming years. Rising number of participants from the unorganized sector is expected to
reduce on account of increasing awareness amongst the population for safety. Market participants
focus on offering energy-efficient and cost-effective products.
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Market Segment:
The major manufacturers covered in this report
• A.O.Smith
• Rheem
• Ariston Thermo
• Whirlpool
• Nihon Itomic
• Simens
• TATA Power Solar Systems
• Bosch
• Racold Thermo