Market Research News Asia Pacific Solar Based Water Heater Market | Page 2

“Asia Pacific Solar Based Water Heater Market: Historical Growth (2012-
2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity
Evaluation”
The Asia Pacific solar based water heater market is segmented into product type
such as active solar based water heaters and passive solar based water heaters.
Among these segments, active solar based water heaters segment is expected to
occupy the top position in the market by the end of forecast period. The growth of
active solar based water heaters segment is augmented by its high efficiency and
increasing adoption of active solar based water heaters in commercial places. Apart
from this, passive solar based water heaters segment is also witnessing significant
growth owing to increasing demand for active solar based water heaters in
residential applications.
Asia Pacific Solar Based Water Heater Market is expected to register a 6.9%
CAGR over the forecast period. Moreover, rising demand for solar powered
technologies is a key factor which is growing the solar based water heater market
all over the Asia Pacific. Solar based water heater is more affordable, accessible,
and prevalent energy as compared to other heating solution. This factor is
envisioned to bolster the growth of market during the forecast period.
The commercial segment by end-user is likely to grow at remarkable pace during
the forecast period. Increasing environmental concerns and high demand for low
operating cost technologies are likely to be the major factors behind the growth of
this segment over the forecast period. Furthermore, increasing installation of solar
powered products in order to curb carbon emission is also a major factor which is
escalating the growth of this segment in this region.
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Environment and Energy Saving Concerns
Increasing demand for pollution free energy across the Asia Pacific is expected to
fuel the growth of Asia Pacific solar based water heater market in upcoming years.
Further, industries are favoring renewable energy due to environmental concerns
and to curb pollution is escalating the growth of solar based water heater market in
Asia Pacific region.
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