#Solar Water Heater Market 2021

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BIPV Market: Trends Supplement Large-Scale Solar Systems Adoption

As per the International Energy Outlook, the global power demand is expected to rise by 80%, requiring an investment of around $19.7 trillion by 2040. Also, the Paris Agreement set a target of limiting global warming temperature below 2° Celsius, preferably 1.5° Celsius. This has influenced governments to seek innovative ways to reduce emissions while meeting energy demand, which has paved the way for photovoltaic materials in buildings. Triton’s analysis estimates that the global building integrated photovoltaics market will propel at a CAGR of 17.31% during the forecast period 2023-2030.

Building integrated photovoltaics serves the dual purpose of being the outer layer of a building and a power generator. This, in turn, has opened a new frontier in green infrastructure, influencing architects to develop energy-efficient and aesthetically appealing buildings. For instance, Ubiquitous Energy’s transparent solar window panels, UE Power, have emerged as an aesthetically appealing power-generating alternative to conventional windows.

BIPV Revolution: Trends Reshape Energy Landscape

According to the International Renewable Energy Agency (IRENA) , around 90% of the world’s power can be generated with renewable energy by 2050. Since buildings consume high amounts of energy, BIPV integration will facilitate their transition from energy users to producers. On that note, the notable trends reshaping the market are:

Governments perceive investing in green energy solutions as an opportunity to attain GHG reduction targets. Hence, over the past few years, authorities worldwide have employed various measures to stimulate the adoption of sustainable technologies, including BIPV modules, across residential, commercial, and industrial sectors. For example:

As per the Indian Ministry of New & Renewable Energy (MNRE) , the government has implemented the production-linked incentive (PLI) scheme for high-efficiency solar PV modules with an outlay of INR 24,000 crore, to achieve domestic manufacturing capacity of solar PV cells and modules.

In 2021, the German government amended the Renewable Energy Act by establishing grid priority to drive the onshore wind, solar PV, and biogas growth. The government proposed to increase its solar capacity installations to 100 GW by 2030.

The Chinese government also formulated a policy that requires all new buildings to conform to energy guidelines modeled after LEED specifications. This policy combines a recent initiative to reconstruct 50% of residential high-rise buildings. The country is anticipated to add more than 600 GW of solar power by 2030.

Reaping the benefits from such incentives, the industrial sector leads the BIPV market at 39.54%. However, over the forecast period 2023-2030, the commercial sector is expected to witness the fastest growth at 17.38%.

As per IEA, the global solar PV generation reached around 821 TWh in 2020, a whopping 23% increase from 2019. The energy association also stated that next to utility-scale deployment, distributed applications on buildings contribute to around 40% of PV use globally. In this regard, rooftop-based applications are alleviating the burden on the distribution grids, enabling companies and households to pay lesser energy bills while reducing emissions. Moreover, the cost of installing rooftop PV systems reached around $1 per watt. Hence, roofing captures the majority of the market share at 55.69% in terms of application.

China drives the global market, followed by the US, European nations, and Japan playing a major role. The rise in installations from around 19.4 GW in 2017 to 27.3 GW in 2021 was the key aspect that made China a leader in rooftop installations. For instance, Shanghai and Dezhou have acquired the title of ‘Solar City’, which features a large fleet of rooftop solar water heaters. Besides, the Net Zero Energy Building mandate across China is expected to accelerate the PV roofing segment, with solar tiles gaining major traction. Hence, these developments are expected to widen the scope of the Asia-Pacific BIPV market over the forecast period 2023-2030.

IEA projects that photovoltaic systems are estimated to account for approximately 14% of the total power generation by 2050, owing to the rising detrimental impact of fossil fuels. In fact, the organization stated that PV systems saved more than 860 million tons of C02 in 2020. The construction industry is highly innovative in the commercial sector owing to the development of cost-effective zero-emission green facilities.

As per IRENA, Germany ranks fourth in solar energy production globally. In 2021, the nation installed solar capacities of almost 60 GW, an increase of 5.3 GW from 2020. These actions are based on the country’s aim to obtain a 65% share of the renewable energy sector by 2030. Moreover, the Energy Efficiency Strategy for Building suggested advanced technology development to achieve the goal of a virtually climate-neutral building stock by 2050. Hence, the growing focus on sustainable energy sources fuels the overall Europe BIPV market, spearheaded mainly by Germany.

PV Cost Reduction: A Driving Force for Market Players

Since photovoltaic systems generate energy with around 42% efficiency using multi-junction cells, they have emerged as an ideal alternative over complex installations, such as wind turbines. As per the UN, between 2010 to 2020, the cost of power from solar systems plummeted by around 85%. This highlights the question:

What induced PV cost reduction?

The significant cost decline is mainly because of overproduction and higher investment in PV modules. Another factor is the efforts by Chinese suppliers and wholesalers to reduce the stock held in European warehouses to prevent anti-dumping and anti-subsidy tariffs. This oversupply, from China to Europe thus shrunk the cost of silicon. Such developments led energy solutions supplier Sungrow to supply products to the world’s largest BIPV plant (120 MW) in Central China’s Jiangxi Province. Therefore, the increasing efficiency, ease of installation, and decreasing cost of PV modules over conventional sources like coal and natural gas are expected to open new avenues for players in the building integrated photovoltaics market.

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Solar Concentrator Market Expected to Witness Sustainable Growth Over 2031

The solar concentrator market size was valued at $5.2 billion in 2021, and the solar concentrator industry is estimated to reach $24.6 billion by 2031, growing at a CAGR of 16.8% from 2022 to 2031. Solar concentrators are devices that collect solar radiation and concentrate at a single focal point. The devices are mainly comprised of a series of lens or mirror assemblies, heat receivers, and a tracking system. The performance of the concentrator depends on the intensity of solar radiation, the incident angle of radiation, and its relative position to the sun and the reactor to be heated.

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The rising requirement and demand for low-emission energy generation are driving the expansion of the worldwide solar concentrator market. Furthermore, the growth in demand for clean and green energy is propelling the worldwide solar concentrator market throughout the forecast period. Growing environmental concerns and pollution levels are driving up demand for solar concentrators in the global market. Furthermore, economic advancements are influencing the growth and development of the worldwide solar concentrator market.

Solar concentrators are specially designed for heating fluids which can be directly used for hot water, power generation, or space heating and cooling. Solar thermal power or electric generation systems can collect and concentrate the sunlight to generate high-temperature heat that is required to produce electricity. The shifting preference from fossil fuels to renewable energy sources to mitigate environmental impacts. Likewise, the emergence of solar power as the most sustainable source of renewable energy will also boost the installation of solar thermal power plants worldwide.

The rise in prominence of solar space heating, coupled with the significant development of testing facilities for solar receiver tubes and other thermal components, is projected to foster the solar thermal market trends. In addition, the introduction of favorable schemes to encourage the installation of solar water heaters and heat pump technologies is projected to further amplify industry expansion in the upcoming years. In 2021, Miriam Dalli, Minister for Energy, Enterprise, and Sustainability in Malta, launched new schemes to encourage consumers to make a switch from conventional geysers to efficient solar water heaters.

The global solar concentrator market is primarily driven due to increase in population and the gradual shift from fossil fuel resources to renewable energy resources has a positive impact on the solar concentrator market. The presence of rapid growth in population and gradual change in lifestyle among the people due to an increase in income has influenced the demand for solar thermal products.

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The increase in awareness among the people regarding the advantages of utilization of solar thermal products compared to other products in residential and commercial heating is a major factor driving the market growth. The increase in the investment of the government in developing countries such as India, and China towards renewable energy will boost the demand for the solar concentrator market during the forecast period.

However, the start-up costs of solar thermal energy devices are usually higher because of the greater expense per unit of energy generated. However, solar thermal energy lacks a feedstock demand, which led to increased investment to optimize solar thermal technology. Solar thermal devices cannot generate energy with consistency as most fossil fuels and cannot produce solar energy during cloudy days, or after dark. Hence making it an unreliable source of energy; furthermore, unlike fossil fuels, the energy produced from solar concentrators cannot be easily stored.

The solar concentrator market forecast is segmented on the basis of type, technology, application, end-use, and region. By type, the market is divided into cylindrical parabolic, paraboloid revolution, and others, By technology, the market is divided into solar power towers, linear concentrating systems, and dish sterling technology. By application, it is divided into electricity generation, heating fluids, and others. By end use, it is divided into residential, commercial, and industrial. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, the paraboloid revolution segment accounted for 55.1% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Paraboloid revolutions are also known as 3D hubs as they are 3D-printed external light traps on a small solar cell. An external light trap consists of a parabolic concentrator and a spacer that redirects the photons that are reflected by the solar cell back toward the solar cell. Metallic parabolic concentrators with square and hexagonal top shapes can be arranged in an array which will improve the efficiency of power generation in the solar industry.

On the basis of technology, the solar power towers segment accounted for 61.1% of the solar concentrator market share in 2021 and is expected to maintain its dominance during the forecast period. Solar power tower, also known as ‘central tower’ power plant. It is a type of solar furnace using a tower to receive focused sunlight. It uses an array of flat, movable mirrors to focus the sun’s rays upon a collector tower. Early designs used these focused rays to heat water and used the resulting steam to power a turbine.

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Competitive Landscape

Key players in the solar concentrator industry are Acciona SA, Abors Green GmbH, Siemens AG, Abengoa Solar GmbH, Trivelli Energia, Bright Source, Solar Reserve, Torresol Energy, Clique Solar, and ACWA Power. These players have adopted various strategies to gain a higher share or retain leading positions in the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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Commercial Water Heaters Market Research Report by Type, Liter, by Rated Capacity, and Region

The Commercial Water Heaters market size is projected to reach a CAGR of 6.2% from 2021 to 2028.

Commercial Water Heaters are similar to the residential water heaters in the fact that both are used for the process of heating of stored water. But to a difference commercial water heaters can heat the water at an exponential rate and can also handle a larger amount of water than the residential one. These have an average life of about 10-15 years.

Raised investments in the sector along with the urgent need of on-demand heating devices are some of the factors that have supported long-term expansion for Commercial Water Heaters Market.

COVID-19 had a negative effect on the market, as the global supply chains were disrupted.

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Regional Analysis

North America is the most rapidly growing market and offers a huge opportunity for the industry, whose growth is driven by the presence of key players in the region.

Competitive Landscape

Key Players

A.O. Smith Corporation

American Water Heaters

Ariston Thermo Group

Bock Water Heaters, Inc.

Bosch Industries

Bradford White

Daikin Industries, Ltd.

Danfoss A/S

Giant Manufacturing Co. Ltd.

Jinyi Solar Water Heater

Johnson Controls-Hitachi Air Conditioning

Midea Group

Mitsubishi Electric Corporation

Nibe Energy Systems

PVI Industries

Rheem Manufacturing Company

Rinnai Corporation

Solahart

Stiebel Eltron

Vaillant Group

Viessmann Group

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Recent Developments

In June 2021 Bradford White Corporation completely acquired Keltech with an aim to expand its portfolio in commercial & industrial electric products.

Reasons to Acquire

Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors

Gain authentic and granular data access for Commercial Water Heaters  Market so as to understand the trends and the factors involved behind changing market situations

Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future

In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

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Report Scope

Commercial Water Heaters Market is segmented into product type, storage capacity, application and region.

On the basis of Product Type

Instant

Electric

Gas

Storage

Electric

< 30 Liters

30 -100 Liters

100 - 250 Liters

250 - 400 Liters

> 400 Liters

Gas

< 30 Liters

30 -100 Liters

100 - 250 Liters

250 - 400 Liters

> 400 Liters                                 

On the basis of Capacity

< 30 Liters

30 - 100 Liters

100 - 250 Liters

250 - 400 Liters

> 400 Liters

On the basis of Application

College/University

Offices

Government/Military

Others

On the basis of Region

Asia Pacific

North America

Europe

South America

Middle East & Africa

The Commercial Water Heaters Market report answers a number of crucial questions, including:

Which companies dominate the Commercial Water Heaters Market?

What current trends will influence the market over the next few years?

 What are the market's opportunities, obstacles, and driving forces?

What predictions for the future can help with strategic decision-making?

What advantages does market research offer businesses?

Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?

What is the anticipated growth rate for the market economy globally?

About Us:

Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.

Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.

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Embracing Warmth: Exploring the Thriving Water Heater Market in India

Hey there, Tumblr community! ☀️ Today, let's dive into the world of cozy comforts and luxurious warmth as we explore the booming water heater market in India. Get ready to discover the innovative technologies, energy efficiency, and the wide range of options that keep us cozy during chilly mornings and provide blissful hot showers. Let's jump right in and embrace the warmth! 🚿🔥

In a country with diverse climates and varying temperature extremes, water heaters have become an essential part of Indian households. From providing hot water for daily necessities to enhancing our bathing experiences, these devices play a crucial role in ensuring our comfort and well-being. Let's uncover the secrets behind staying toasty and relaxed! 💦💫

The Indian water heater market offers a wide array of options to suit different preferences, budgets, and installation requirements. From traditional storage tank water heaters to tankless (instant) water heaters, there's a solution for every household's hot water needs. It's time to bid farewell to cold showers and embrace the bliss of a warm cascade! 🛀🌡️

Storage tank water heaters have been a staple in Indian homes for decades. These reliable devices store hot water in an insulated tank, ready to be used whenever needed. With various capacities available, they can cater to different household sizes and usage patterns. It's the tried-and-true method of ensuring a steady supply of warm water. 🔥🛢️

Tankless (instant) water heaters have gained popularity in recent years, offering the advantage of instant hot water without the need for a storage tank. These compact and energy-efficient devices heat water on demand, providing endless hot water without the worry of running out. They are especially suitable for smaller homes and locations where space is a constraint. It's instant gratification and convenience at its best! 💧🚿

Energy efficiency and eco-friendliness are significant considerations in the Indian water heater market. Manufacturers are incorporating innovative technologies like heat pumps, solar panels, and energy-saving features to reduce energy consumption and environmental impact. It's a win-win situation, providing warmth while minimizing our carbon footprint. It's time to enjoy guilt-free comfort! ♻️🌱

In addition to basic functionality, water heaters in India are designed with safety features such as temperature control, pressure relief valves, and anti-scald mechanisms to ensure user safety. Manufacturers prioritize the well-being of consumers and strive to provide a worry-free hot water experience. It's the peace of mind that comes with enjoying warm showers! 🌡️🛡️

As the demand for luxurious bathroom experiences grows, the Indian water heater market is witnessing the integration of smart features. From mobile app control and scheduling to voice activation and energy monitoring, these smart water heaters offer convenience, customization, and energy efficiency. It's the future of hot water solutions, adapting to our modern lifestyles. 🌟🔌

So, whether you're a homeowner looking to upgrade your water heating system, an eco-conscious individual seeking energy-efficient options, or simply someone who craves a warm and indulgent bathing experience, the water heater market in India has you covered. Embrace the warmth and elevate your comfort level with the perfect hot water solution for your home. 🚿🔥

Stay warm and cozy, Tumblr fam! ✨🌡️ #WarmthUnleashed #HotWaterDelights

(Note: This post is purely fictional and created for the purpose of demonstrating creative writing skills.)

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2014, Luis who is from Mozambique started to cooperate with Tanfon, but at that time it was just a simple buying and selling relationship between us. He got some orders locally, and only if there were customers who want to buy the solar system, he contacted with us. At that time ,he came to China twice a year, every time he would come to our factory to visit us, no matter there was a new order or not. So we have regarded him as not only a customer,more like a friend. For so many years, he has always trusted us, just like other different products are needed, he also asked us to help pay, and for bigger orders, he would also let us visit the factory and check the quality.

In 2019, we formally signed a regional agency cooperation, opened an exhibition hall, the local service center. Our two sides are adhering to a mutually beneficial and friendly cooperative relationship. If the customers of our factory need to install, they also directly provide the installation service to the local customers. 

Every time Luis ordered one or two containers goods from us, because now the solar products are popularly sold at local Mozambique market, new orders will be placed every month.

The hot sell products in Africa are: solar floodlights, solar street lights, solar water heaters, and solar water pumps; 5kw and 10kw household systems, 30kw and 50kw or more bigger power commercial solar systems.

The installation team of the service center is constantly growing. In May 2021, after half a year of inspection, LUIS also opened a solar branch in Durban, South Africa, to better prepare for service projects in South Africa.

Why did LUIS choose Tanfon as its in-depth partner?

LUIS is very familiar with China and comes to China every year, so he also knows the suppliers very well. He said that he is not looking for the cheapest supplier, but for a supplier who can truly be trusted and can help him make money. So this is the reason why he chooses us!

If you also want to be in the solar industry, please contact our professional Tanfon sales team. Maybe our price is not the lowest. We could promise you that we are sure to help you make money!

The secret to make money: 

Tanfon can provide local customer resources in your area

Tanfon provides free design drawings and installation services

Tanfon provides free online product training

As long as you are willing to open up the market, then we have the strong strength to help you earn more money. For more earning money secrets, welcome to consult us, Welcome to join us!

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Solar Thermal Collector Market – Industry Trends and Forecast to 2028

Solar thermal collector market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the solar thermal collector market to account to USD 81.76 billion growing at a CAGR of 13.38% in the above-mentioned forecast period. 

A truthful SOLAR THERMAL COLLECTOR MARKET business report contains a chapter on the universal SOLAR THERMAL COLLECTOR market and all its linked companies with their profiles, which presents valuable data pertaining to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies. This market research report not only saves precious time but also add credibility to the work. By keeping end users at the centre point, a team of researchers, forecasters, analysts and industry experts work exhaustively to formulate this market report. SOLAR THERMAL COLLECTOR market analysis document offers the professional and in-depth study on the current state for the ABC industry. Global SOLAR THERMAL COLLECTOR market report contains numerous aspects of the market analysis which many businesses call for. This market research report comprises of a chapter on the global market and all of its associated companies with their profiles, which gives important information and data pertaining to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies. The large scale SOLAR THERMAL COLLECTOR report also presents a profound overview of product specification, technology, applications, product type and production analysis considering major factors such as revenue, cost, and gross margin about ABC industry.

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Market Analysis and Insights of Global Solar Thermal Collector Market

Solar thermal collector is used to heat water and air. Active solar systems have thermal collectors used to absorb heat energy, supplied by the sun, water heaters and space temperatures. Roof solar panels (collectors) are the main source of heat generation, used in conjunction with a boiler, collector or immersion heater. The solar collector uses the sun's rays to heat the transfer fluid, which is usually a mixture of water and glycol. Glycol acts as an anti-freeze and prevents water from freezing. In concentrated solar power plants, other complex types of solar thermal collectors are used to generate electricity.

Lack of sunlight in adequate quantity in several nations and high installation cost is a challenge for solar thermal collector market. However, less awareness among consumers regarding the benefits of making use of solar energy in underdeveloped and developing economies is a restraint in growth of solar thermal collector market during the forecast period of 2021-2028.

Solar Thermal Collector Market Scope and Market Size

Based on product outlook, the solar thermal collector market is segmented into concentrating and non-concentrating. Non-concentrating is further segmented into flat plate, evacuated tube, unglazed water collectors and air collectors.

Based on application outlook, the solar thermal collector market is segmented into commercial, residential and industrial.

Based on collector type, the solar thermal collector market is segmented into evacuated tube collector, flat plate collector, unglazed water collector and air collector.

Solar thermal collector market has also been segmented based on types of system, into thermosiphon solar heating system and pumped solar heating system.

Solar Thermal Collector Market Country Level Analysis

The countries covered in the solar thermal collector market report are U.S.

Canada and Mexico in North America

Germany

France

K.

Netherlands

Switzerland

Belgium

Russia

Italy

Spain

Turkey

Rest of Europe in Europe

China

Japan

India

South Korea

Singapore

Malaysia

Australia

Thailand

Indonesia

Philippines

Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)

Saudi Arabia

A.E

Israel

Egypt

South Africa

Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

Brazil

Argentina and Rest of South America as part of South America.

Solar Thermal Collector Market Share Analysis

Solar thermal collector market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solar thermal collector market.

Leading Players

The major players covered in the solar thermal collector market report are TVP Solar

Alternate Energy Technologies

LLC

Sunmaster Ltd.

Solar Millennium AG

SunMaxx Solar

Solar Skies Mfg.LLC

Airlight Energy

Thermomax

Cogen Microsystems

Suncor Energy Inc.

AES

Solarus

Absolicon Solar Collector AB

Solarkilns Pty Ltd

Sunplate Corporation

Artic Solar

Boen Solar Energy

Trevi Systems

SUNRAIN

Greenonetec Solarindustrie GmbH.

LINUO RITTER INTERNATIONAL CO. LTD

Photon Energy Systems Limited among other domestic and global players. Market share data is available for Global

North America

Europe

Asia-Pacific (APAC)

Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Get Full access of Report

MAJOR TOC OF THE REPORT

Chapter One: Introduction

Chapter Two: Market Segmentation

Chapter Three: Market Overview

Chapter Four: Executive Summary

Chapter Five: Premium Insights

Chapter Six: solar thermal collector market

Get TOC Details

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Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with an unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market.

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Luxury Hotel Market Size, Future Trends, Growth Key Factors, Demand, Share, Application, Scope, and Opportunities Analysis by Outlook 2028

The global luxury hotel market size is projected to reach USD 238.49 billion by 2028, exhibiting a CAGR of 10.4% during the forecast period. Fortune Business Insights™ diagnoses this market in its report, titled “Luxury Hotel Market, 2021-2028”, which also states that the market value stood at USD 93.43 billion in 2020.

COVID-19 to Create Widespread Instability in the Hospitality Industry

The luxury hotel market growth is expected to shrink due to the COVID-19 pandemic, with a market registering an astonishing decline of 60.82% in 2020 and reaching a value of USD 119.55 billion in 2021. One main reason for this unprecedented downturn in the hospitality industry is the steep drop in tourist activities worldwide. As per the estimations released by the UN World Tourism Organization (UNWTO), export revenues from tourist arrivals fell by approximately USD 910 billion to 1.2 trillion in 2020, potentially shrinking the global GDP by 1.5% to 2.8%. Hotels, in particular, have been the hardest hit. For example, according to the American Hotel & Lodging Association (AHLA), 71% of hotels will not survive the next six months without federal assistance and 77% will have to lay-off workers. Luxury hotel chains, such as Le Meridien, have also resorted to cost-cutting, given the new travel bans and the possibility of movement restrictions. In sum, markets associated with the travel, tourism, and hospitality industry are set to enter a period of deep financial stress on account of the coronavirus.

Fortune Business Insights™ lists out all the luxury hotel market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

Mandarin Oriental Hotel Group (Quarry Bay, Hong Kong)

Accor SA (Issy-les-Moulineaux, France)

Shangri-La Asia Limited (Quarry Bay, Hong Kong)

Four Seasons Hotel Limited (Toronto, Canada)

Hyatt Hotels Corporation (Chicago, U.S.)

The Indian Hotels Company Limited (Mumbai, India)

Kempinski Hotels S.A. (Geneva, Switzerland)

Hilton Hotels & Resorts (McLean, U.S.)

InterContinental Hotels Group plc (Denham, U.K.)

Marriott International, Inc. (Maryland, U.S.)

Emergence of Eco-friendly Luxury Hotels to Accelerate the Market

The development of hotels guided by the principles of environmental sustainability has altered perceptions surrounding luxury accommodations. The increasing environmental consciousness among new-age travelers has redefined the dynamics hitherto governing the hospitality industry, leading to the construction of eco-friendly luxury hotel brands. For example, the Andaz Maui at Wailea Resort in Hawaii has been conceived to minimize waste and emissions. The resort features a solar water heater system and variable speed chillers, while in the in-room settings, the glassware is made from recycled materials along with automated temperature controls. Similarly, at the Saffire Freycinet in Tasmania, Australia, Modwood is used as a wood substitute, LED technology is extensively utilized to make the entire facility energy-efficient, and natural cycle airflow systems have also been installed. The growing popularity of such premium properties in exotic locations is set to accelerate the expansion of this market.

Highlights of the Report

This report offers a detailed analysis of the various market drivers and trends, along with a careful study of the various market restraints. Moreover, the report contains a comprehensive examination of the regional dynamics of the market, as well as an in-depth evaluation of the competitive landscape of the market. In addition to these factors, the report supplies an exhaustive assessment of all market segments.

Market Segments

Based on room type, the market has been divided into luxury, upper-upscale, and upscale. By category, the market has been segmented into chain and independent. On the basis of geography, this market has been segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights

High Spending Capacity of Travelers to Fuel the Market in North America

Backed by a high spending potential of consumers, North America is anticipated to dominate the luxury hotel market share during the forecast period. A report by the US Travel Association showed that in 2019, domestic travelers spent USD 972 billion, of which roughly 25% was spent on lodging facilities. Furthermore, expenditures on hotels and resorts of both domestic and international travelers rose by 4.1% in 2019 from 2018 levels, as per the report, indicating a strong willingness to spend on vacations by consumers. The North America market size stood at USD 30.66 billion in 2020.

In Europe, the market will enjoy a period of sustained growth as the continent is home to some most attractive tourist places on the planet. The UNWTO, for instance, observed that Europe accounted for nearly half of all tourist arrivals globally in 2018. In Asia Pacific, on the other hand, the expanding upper-middle-class and middle-class populations are pulling international luxury hotel chains to establish their presence in countries such as India, China, and Indonesia.

Competitive Landscape

Key Players to Tap Opportunities in Developing Markets

With the standard of living transforming in the emerging markets of Asia and Africa, luxury hotel brands are actively amplifying their presence and operations in these countries. Several hotel chains are coming up with new offers and creating unique economy segments and services to attract travelers and entrench their regional position.

Industry Developments:

January 2021: Marriott International announced its plans of opening 100 new properties across Asia Pacific in 2021. The aim is to bring brands and exquisite experiences to travelers and guests in unexplored destinations in the region.

March 2020: Luxe Collection opened its first branded property in New York City, the Luxe Life Hotel New York. To this will be added new 4- and 5-star hotels – Zeavola Resort (Thailand), Il Tornabuoni (Florence), Eurostars Magnificent Mile (Chicago), CoolRooms Atocha (Spain), and The Belmont (Dallas).

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[energypowernews]

Five Simple Tactics That’ll Boost Solar Thermal Market by 2031

The major companies profiled in solar thermal market report include Solareast Holdings Co. Ltd, Greenonetec Solarindustrie GmbH, BTE solar Co. Ltd, Linuo Ritter International Co. Ltd, Photon Energy Systems Limited., BrightSource Energy, Parvelon CSP Technologies, Abengoa Solar, Siemens AG, Acciona, SolarReserve, Torresol Energy, Trivelli Energy, Sener, Lointek, SCHOTT, Abors green GmbH, and Liontek.

According to a new report published by Allied Market Research, the solar thermal market size was valued at $21.5 billion in 2021, and solar thermal industry is estimated to reach $35.3 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

Asia-Pacific is expected to exhibit CAGR of 5.5% during 2022-2031.

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Rise in prominence of solar space heating coupled with significant development of testing facilities for solar receiver tubes and other thermal components, will foster the solar thermal market trends.

The introduction of favorable schemes to encourage the installation of solar water heaters and heat pump technologies is projected to further amplify industry expansion in the upcoming years.

In 2021, Miriam Dalli, Minister for Energy, Enterprise and Sustainability in Malta, launched new schemes to encourage consumers to make a switch from conventional geysers to efficient solar water heaters.

Due to rapid industrialization, urbanization and gradual increase in population has led to increase in the demand for power.

The demand for power from clean energy resources has increased the demand for solar thermal system.

Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in new technologies related to solar thermal energy system have led to attain key developments in the global solar thermal market trends.

By system, thermosiphon solar heating system reforming was the leading segment in 2021.

By application, hot water system segment accounted for the largest market share in 2021.

By end use, residential had the largest market share in 2021.

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The most rising trend in the solar thermal market is the solar district heating system coupled with seasonal storage. The most classic example is the solar district heating system recently established by Savosolar Oyj company in Cadaujac, France, in December 2021.

The system is combined with a seasonal borehole thermal storage from AbSOLAR for supplying heat and domestic hot water to around 67 single-family houses connected to the network. The incentives offered by the government can propel the market to the greatest extent.

For instance, in March 2021, Danish gas transmission system operator Evida decided to exempt those households who want to use renewable energy for heating instead of gas supplied through the grid from paying grid disconnection fees.

Solar thermal systems collect energy from sun and transform it into heat which is used to raise the temperature of a heat transfer fluid. This fluid can be air, water or specially designed fluid which can be directly used for hot water or space heating and cooling.

Solar thermal power or electric generation systems can collect and concentrate the sunlight to generate high-temperature heat that is required to produce electricity.

The global COVID-19 pandemic had a negative impact on the solar thermal market. The major problems being it might be possible that companies may not be able to meet project delivery timelines that could alter tax treatment or eligibility for state incentives for such projects.

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In November 2020, the City of Albuquerque Parks and Recreation announced the temporary closure of the Highland Pool to limit the spread of the virus to employees. Such disruptions across the swimming pool facilities may create an indirect impact on the deployment of solar thermal heating systems.

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[pravalika]

Water Heater Market - Forecast (2022 - 2027)

Water Heater Market size is estimated at $28.5 billion in 2020, projected to grow at a CAGR of 4.8% during the forecast period 2021-2026. Water Heater is an Electric Heater appliance that heats water for a variety of uses. Water heaters are available because of their energy efficiency and small scale. Electric Heater geysers have become very common for home use. Moreover, the Water Heater industry is growing, owing to the rising demand and widespread domestic applications such as hot water for cooking, bathing and cleaning. The water heater market would benefit from rising demand for energy efficient systems and geysers, as well as favorable regulatory policies on carbon emissions. For instance, in 2016, the United Arab Emirates invested $3Million in the area to introduce green strategies. Besides this, the growing number of strategies adopted by key players such as partnership, acquisition and collaboration to expand their presence and innovation in water heating technology to gain the market traction is set to drive its water heater industry.

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Water Heater Market Report Coverage

The report: “Water Heater Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Water Heater Market.

By Product Type: Solar Heater, Electric Heater and Solar Heater.

By Technology: Tankless, Hybrid and Storage Heater.

By Application: Residential, Industrial and Commercial.

By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

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Key Takeaways

Water Heater market growth is being driven by technological advances, adoption of new techniques, and the innovation are resulting in the production of low-cost heaters and energy-efficient.

Geographically, North America Water Heater Market held the largest revenue share of 38% in 2020 owing to the presence of potential players who are creating new products, high investments in R&D, and government funding. The scope of the Water Heater Market for various regions will be provided in the final report.

The Water Heater Industry is expanding owing to rising perception of the product’s benefits in various applications and consumer preferences are expected to shift as quality levels increase.

The growing demand for Storage Heater owing to easy installation and maintenance is a significant factor that is expected to push the Water Heater industry during the forecast period 2021-2026.

Water Heater Market Segment Analysis – By Product Type:

Based on Product Type, Electric Heater Segment accounted for the largest revenue market share of around 75% in 2020 and is also anticipated to grow with the fastest CAGR. Electric Heater water heaters are becoming more popular as people become more concerned about energy efficiency and have huge growth in the number of pre-plumbed unvented systems in new constructions. To make Electric Heaters easier to use, manufacturers are incorporating smart heating controls. Electric Heaters are widely used in the commercial sector to help with production and for workers comfort. Water heaters are also being replaced more often as a result of energy efficiency laws variance in different countries. As a result, demand for highly efficient tankless Electric water heaters is growing and thus driving the Water Heater Industry. Solar Heater segment is anticipated to grow with the second fastest CAGR of 5.8% in the forecast period 2021-2026, attributed to the rising customer awareness of Solar water heaters and their cost-effective and environmentally friendly benefits in both the residential and commercial sectors. Furthermore, the government's initiatives to promote Solar Heater products in India, as well as increasing product technical advances and rapid urbanization, are expected to drive segment growth.

Water Heater Market Segment Analysis – By Application:

Based on Application, Commercial accounted for the largest revenue market share in 2020. The demand for water heaters is being driven by the expansion of commercial infrastructure in various countries. Water heaters are used by small to mid-sized businesses in their everyday operations. Companies are adopting highly effective water heaters in the meantime to reduce energy consumption and operating performance. Commercial water heaters must be upgraded owing to increased use. As a result, manufacturers are incorporating new innovations that can serve as a cue for commercial water heater upgrades. Tankless heaters & Electric Heaters are gaining popularity in the commercial sector, owing to their ability to supply a large amount of hot water for an extended period of time driving the Water Heater Industry. Residential is projected to witness the fastest CAGR of 5.3% during the forecast period 2021-2026. Continuous infrastructure growth, combined with an increase in the deployment of energy efficient heating systems, would propel the segment forward. According to the IBEF, India would need over USD 777 billion in infrastructure investment by 2022. The industry will benefit from the ongoing rollout of smart cities with strict building efficiency codes and standards.

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Water Heater Market Segment Analysis – By Geography:

Based on Geography, North America Water Heater Market accounted for the 38% revenue share in 2020. More than 9 million water heaters are sold in the United States per year, indicating that there is a strong demand for water heaters in North America, which accounts for a large portion of the industry. Tankless water heaters in the United States are compact, dependable, and long-lasting devices that provide high performance and much better energy efficiency than tank units. Due to the cold weather conditions in the area, demand for heating appliances is extremely high in most North American countries. In July 2017, Rinnai America has announced that it has expanded its North American headquarters by constructing a new two-story headquarters building and opening a North America Innovation and Training Center accelerating water heater expansion across the region. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing towards economic growth in countries like China, Japan, Australia and India

Water Heater Market - Drivers

The Growing Demand for Storage Heater:

By using hot water Storage Heater tanks, Storage Heater water heaters help to maximize heating ability. Manufacturers provide Storage Heater in a range of sizes to meet the needs of customers. Storage Heater are less costly to install than other types of water heaters, and they are also simple to maintain and repair. However, since Storage Heater have been known to burst, vendors are focusing on offering standard water heater services. Furthermore, Storage Heater necessitate space for the tank; as a result, manufacturers are concentrating on reducing the size of Storage Heater to alleviate the space problem driving the Water Heater Industry. 

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Water Heater Market - Challenges

Increase In Electric Prices: 

Rising electricity prices are expected to restrict the growth of the water heater industry. Water heating systems, such as electric heaters, are the second largest consumer of electricity in the home, accounting for 18 percent of total electricity costs, according to the US Department of Energy. Furthermore, an average water heater operates for three hours every day, as per study thereby, hampering the industry development.

Water Heater Market - Landscape:

The Water Heater Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Water Heater Market top 10 companies are State Industries, Ariston Thermo, Haier Electronics, Fast Water Heater, Neighbourly Company Viessmann, Rinnai, A.O Smith, Rheem Manufacturing, Whirlpool Corporation and American Residential Services.

Acquisitions/Product Launches:

In August 2020, A.O Smith launched MiniBot, a 3-litre instant water heater with modern technology. MiniBot's inner tank is filled with Blue Diamond glass, which provides superior corrosion resistance to traditional glass-lined items. It also protects against premature tank failure due to India's hard and polluted water, extending the life of the water heater.

For more Consumer Products and Services Market related reports, please click here

[melbournenewsvine]

Switch to electricity says Climate Council

How much can you save? Families that switch to fully electric in Hobart can save up to $1,899 on their annual bills, in Canberra up to $1,876, in Adelaide $1,457, Brisbane $1,424, Melbourne $1,207, Sydney $924 and Perth $803. Climate Council researchers found that the biggest bill savings were in Brisbane, where gas is much more expensive than other capitals, and in Hobart and Canberra because of their cooler climates. The report says that connecting to the gas network, even if you don’t use gas, can cost hundreds of dollars a year in daily supply fees, with the most expensive annual bill being $280 for Melbourne residents. The wholesale price of gas has nearly tripled since last year, with 80 per cent of supplies shipped overseas, and Australia’s prices are tied to a volatile international market. Gas market prices in Victoria, Adelaide, Brisbane, Sydney and southeast Queensland, 2011/12 to 2021/22. (Source: Australian Energy Regulator, 2022.) attributed to him:Climate Council, Switch and Conservation Report Australian households meet their energy needs through a range of different fuel sources, and piped gas makes up nearly 40 per cent. In Victoria and the ACT, more than half of the energy used in homes comes from piped gas, while in Tasmania and Queensland, residential gas use is very low. How was it calculated? The total bill savings was calculated by combining the annual heating, cooking, and hot water bills for a home using gas appliances (including the daily connection fee) and comparing them to the combined bills for households with electrical appliances at the same level of use. Saul Griffiths, author big key The head of Rewiring Australia said his organization conducted a study last year that looked at the full electrification of Australian homes, including cars. It found that by 2030, the average household head should save between $3,000 and $5,000 a year. “If we re-analyze now, those numbers would be higher,” Griffiths said. “Of course, you have to run that with renewable electricity, but that’s now cheaper than coal.” What about the cost? There are of course costs associated with switching from gas appliances. Some purchases, such as solar and rooftop electrical devices, should be seen as an investment because they can generate significant savings so that the initial cost is effectively paid off over time, the researchers said. They calculated two response scenarios: one based on someone buying low-priced electrical appliances, at a cost of $7,800. The second is based on expensive hardware, priced at $14,900. Both scenarios included $3000 in installation costs. In Melbourne, this will take 8 and 12 years, respectively, while in Sydney it will take 13 and 16 years. Once Julie and her family installed the electric heat pump, they decided to turn off the gas duct heating and rely on electric panel heaters and, later, an induction stove. loading Jolie calculated that her family saves about $100 a month in energy costs, even though she now has another child and she and her partner are now working at home. Their transition was aided by a low-interest loan through the Victorian Government’s Solar Home Scheme. In addition to taking these steps at home, Jolie has hosted climate information sessions, spoken to her local Member of Parliament about her concerns and joined in environmental campaigns. “There are a lot of ways we can go about trying to mitigate the blows of climate change,” she said. Get to know the essence of what is happening with climate change and the environment. The biweekly environment newsletter brings you news, issues and solutions. Register here. Source link Originally published at Melbourne News Vine

[latest-market-reports-and-trends]

Global Heat Pump Research Report 2022 - Industry Size, Share, Demands, Regional Analysis & Estimations Till 2028

The Global Heat Pump Water Heaters Market Report, in its latest update, highlights the significant impacts and the recent strategical changes under the present socio-economic scenario. The Heat Pump industry growth avenues are deeply supported by exhaustive research by the top analysts of the industry. The report starts with the executive summary, followed by a value chain and marketing channels study. The report then estimates the CAGR and market revenue of the global and regional segments.

Base Year: 2021

Estimated Year: 2022

Forecast Till: 2028

The report classifies the market into different segments based on type and product. These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels. The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.

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A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Heat Pump Water Heaters market.  The impact is closely studied in terms of production, import, export, and supply.

The report covers the complete competitive landscape of the Worldwide Heat Pump Water Heaters market with company profiles of key players such as:

A. O. Smith Corp.

ait-deutschland GmbH

DAIKIN INDUSTRIES, Ltd.

Dimplex North America Ltd.

Energy Star

GE Appliances

Gree Electric Appliances Inc.

Guangdong Tongyi Heat Pump Science and Technology Corp.

Hangzhou Jinjiang Solar

Hayward Industries, Inc.

Hitachi, Ltd.

Midea Group

Mitsubishi Electric

Nihon Itomic Co.,Ltd.

OCHSNER Wärmepumpen GmbH

Panasonic Corporation

Pentair plc

Rheem Manufacturing Company

Stiebel Eltron Inc.

Thermia Heat Pumps

Toshiba Corporation

Viessmann Limited

Wotech Industrial Co.,Ltd.

Zhejiang Zhongguang Electrical Co., Ltd.

Zhongrui

Zodiac Pool Systems, Inc.

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Heat Pump Water Heaters Market Analysis by Type:

Air Source Heat Pump

Water Source Heat Pump

Ground Source Heat Pump

Heat Pump Water Heaters Market Analysis by Application:

Residential Use

Commercial & Industrial Use

Heat Pump Water Heaters Market Analysis by Geography:

North America (USA, Canada, and Mexico)

Europe (Germany, UK, France, Italy, Russia, Spain, Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, Australia, South-East Asia, Rest of Asia-Pacific)

Latin America (Brazil, Argentina, Peru, Chile, Rest of Latin America)

The Middle East and Africa (Saudi Arabia, UAE, Israel, South Africa, Rest of the Middle East and Africa)

Key questions answered in the report:

What is the expected growth of the Heat Pump Water Heaters market between 2022 to 2028?

Which application and type segment holds the maximum share in the Global Heat Pump Water Heaters market?

Which regional Heat Pump Water Heaters market shows the highest growth CAGR between 2022 to 2028?

What are the opportunities and challenges currently faced by the Heat Pump Water Heaters market?

Who are the leading market players and what are their Strengths, Weakness, Opportunities, and Threats (SWOT)?

What business strategies are the competitors considering to stay in the Heat Pump Water Heaters market?

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[vicky8588]

Hearth Market

Market Overview

The Global "Hearth Market" is expected to grow at a high CAGR of 3.65% during the forecasting period (2021 - 2028).

The hearth is the fireplace lined with bricks, with or sometimes without an oven. Also, it is used both for heating and food preparation. The hearth is a vital part of a home as well as the main attribute for many decades. In earlier times, the hearth was used to cook food along with heating items. It was also used for processing stones, faunal, floral tools, and wood.

Technologies such as combined heat and power (CHP) provide a variety of possible residential benefits. It fulfills all of a household's heating and hot water needs, along with producing electricity for home use. Besides, one may sell the excess electricity to the power grid, thus facilitating the implementation of new energy-saving technology.

In certain nations, the government gives the owners of CHP plant tax benefits. According to Hearth, Patio, Barbeque Association (HPBA), nearly 3.4 million hearth appliances were shipped in 2017 of which 2.7 million were gas-fueled models.

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Market Dynamics:

Although coal, electricity, wood, and pellets are the traditional heating fuels in hearths, the use of solar energy as a fuel is a growing trend on the market, since it generates more energy than conventional fuel. Photovoltaic solar panels are used in heating applications for both residential and commercial spaces. Using solar space-heating systems in home heating applications will reduce the monthly energy costs significantly.

In the United States, the solar investment tax credit is among the most important federal policy tools for promoting renewable energy deployment. In addition to state incentives, the solar health sector benefited from generous government subsidies with a 30 percent federal tax credit. This continues to fuel growth in the fireplace market for hearths.

The global hearth market is projected to be heavily affected by the policies that governments across the globe are implementing. Due to market emphasis on attractive home decoration, demand for hearth is expected to further escalate. As well as being a popular home decor, Hearth products are also known as efficient space heaters. The demand for designer hearths is currently in high demand on the market and is also the manufacturers' main target. These items are enticing clients who look forward to decorating their homes with elegant hearths.

Segment Analysis

– By Product

·       Fireplace*

·       Insert

·       Stove

– By Fuel

·       Electricity*

·       Gas

·       Pallets

·       Wood

·       Others

Geographical Presentation

By region, the Hearth market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. North America accounted for a majority share of the hearth market in 2019, in terms of both volume and value.

The growing number of independent houses is expected to increase hearth demand growth in North America and Europe area. Besides, the increasing use of heat as a luxury showpiece among the high-income population, coupled with the availability of a wide variety of heat, is also expected to foster growth in the market. In a survey conducted in 2017 by Hearth, Patio & Barbecue Association, over a third of hearth owners were considering remodeling in the next one or two years.

Increasing home automation coupled with rising demand for smoke-less hearth is projected to deliver huge growth opportunities for the hearth industry. Moreover, rising demand for portable heat and increasing manufacturers' emphasis on tapping emerging markets across developed regions by promoting their brand is expected to further fuel hearth market growth over the upcoming years.

There is a strain on the real estate sector because of the adverse effects of the Corona-virus (Covid-19) pandemic. Governments around the globe have introduced national lockdowns which have triggered dramatic changes in consumer spending. People are now reluctant to increase their use of non-essential goods to minimize global demand for the hearth. During 2020-2021 these factors are expected to dampen demand for the global hearth market.

Competitive Analysis

Key players operating in the market are HNI Corporation, Innovative Hearth Products LLC, Travis Industries Inc., Empire Comfort Systems, Inc., Hearth Products Controls Co. among others.

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[sweetyiarc]

WATER HEATER MARKET SIZE TO GROW AT A CAGR OF 4.8% DURING THE FORECAST PERIOD 2021-2026

Water Heater Market size is estimated at $28.5 billion in 2020, projected to grow at a CAGR of 4.8% during the forecast period 2021-2026. Water Heater is an Electric Heater appliance that heats water for a variety of uses. Water heaters are available because of their energy efficiency and small scale. Electric Heater geysers have become very common for home use. Moreover, the Water Heater industry is growing, owing to the rising demand and widespread domestic applications such as hot water for cooking, bathing and cleaning. The water heater market would benefit from rising demand for energy efficient systems and geysers, as well as favorable regulatory policies on carbon emissions. For instance, in 2016, the United Arab Emirates invested $3Million in the area to introduce green strategies. Besides this, the growing number of strategies adopted by key players such as partnership, acquisition and collaboration to expand their presence and innovation in water heating technology to gain the market traction is set to drive its water heater industry.

Water Heater Market Segment Analysis – By Product Type:

Based on Product Type, Electric Heater Segment accounted for the largest revenue market share of around 75% in 2020 and is also anticipated to grow with the fastest CAGR. Electric Heater water heaters are becoming more popular as people become more concerned about energy efficiency and have huge growth in the number of pre-plumbed unvented systems in new constructions. To make Electric Heaters easier to use, manufacturers are incorporating smart heating controls. Electric Heaters are widely used in the commercial sector to help with production and for workers comfort. Water heaters are also being replaced more often as a result of energy efficiency laws variance in different countries. As a result, demand for highly efficient tankless Electric water heaters is growing and thus driving the Water Heater Industry. Solar Heater segment is anticipated to grow with the second fastest CAGR of 5.8% in the forecast period 2021-2026, attributed to the rising customer awareness of Solar water heaters and their cost-effective and environmentally friendly benefits in both the residential and commercial sectors. Furthermore, the government’s initiatives to promote Solar Heater products in India, as well as increasing product technical advances and rapid urbanization, are expected to drive segment growth.

Water Heater Market Segment Analysis – By Application:

Based on Application, Commercial accounted for the largest revenue market share in 2020. The demand for water heaters is being driven by the expansion of commercial infrastructure in various countries. Water heaters are used by small to mid-sized businesses in their everyday operations. Companies are adopting highly effective water heaters in the meantime to reduce energy consumption and operating performance. Commercial water heaters must be upgraded owing to increased use. As a result, manufacturers are incorporating new innovations that can serve as a cue for commercial water heater upgrades. Tankless heaters & Electric Heaters are gaining popularity in the commercial sector, owing to their ability to supply a large amount of hot water for an extended period of time driving the Water Heater Industry. Residential is projected to witness the fastest CAGR of 5.3% during the forecast period 2021-2026. Continuous infrastructure growth, combined with an increase in the deployment of energy efficient heating systems, would propel the segment forward. According to the IBEF, India would need over USD 777 billion in infrastructure investment by 2022. The industry will benefit from the ongoing rollout of smart cities with strict building efficiency codes and standards.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=19565

Report Price: $ 4500 (Single User License)

Water Heater Market Segment Analysis – By Geography:

Based on Geography, North America Water Heater Market accounted for the 38% revenue share in 2020. More than 9 million water heaters are sold in the United States per year, indicating that there is a strong demand for water heaters in North America, which accounts for a large portion of the industry. Tankless water heaters in the United States are compact, dependable, and long-lasting devices that provide high performance and much better energy efficiency than tank units. Due to the cold weather conditions in the area, demand for heating appliances is extremely high in most North American countries. In July 2017, Rinnai America has announced that it has expanded its North American headquarters by constructing a new two-story headquarters building and opening a North America Innovation and Training Center accelerating water heater expansion across the region. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing towards economic growth in countries like China, Japan, Australia and India

Water Heater Market – Drivers

The Growing Demand for Storage Heater:

By using hot water Storage Heater tanks, Storage Heater water heaters help to maximize heating ability. Manufacturers provide Storage Heater in a range of sizes to meet the needs of customers. Storage Heater are less costly to install than other types of water heaters, and they are also simple to maintain and repair. However, since Storage Heater have been known to burst, vendors are focusing on offering standard water heater services. Furthermore, Storage Heater necessitate space for the tank; as a result, manufacturers are concentrating on reducing the size of Storage Heater to alleviate the space problem driving the Water Heater Industry.

Water Heater Market – Challenges

Increase In Electric Prices:

Rising electricity prices are expected to restrict the growth of the water heater industry. Water heating systems, such as electric heaters, are the second largest consumer of electricity in the home, accounting for 18 percent of total electricity costs, according to the US Department of Energy. Furthermore, an average water heater operates for three hours every day, as per study thereby, hampering the industry development.

Water Heater Market – Landscape:

The Water Heater Market’s main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Water Heater Market top 10 companies are State Industries, Ariston Thermo, Haier Electronics, Fast Water Heater, Neighbourly Company Viessmann, Rinnai, A.O Smith, Rheem Manufacturing, Whirlpool Corporation and American Residential Services.

Acquisitions/Product Launches:

In August 2020, A.O Smith launched MiniBot, a 3-litre instant water heater with modern technology. MiniBot’s inner tank is filled with Blue Diamond glass, which provides superior corrosion resistance to traditional glass-lined items. It also protects against premature tank failure due to India’s hard and polluted water, extending the life of the water heater.

Key Takeaways

Water Heater market growth is being driven by technological advances, adoption of new techniques, and the innovation are resulting in the production of low-cost heaters and energy-efficient.

Geographically, North America Water Heater Market held the largest revenue share of 38% in 2020 owing to the presence of potential players who are creating new products, high investments in R&D, and government funding. The scope of the Water Heater Market for various regions will be provided in the final report.

The Water Heater Industry is expanding owing to rising perception of the product’s benefits in various applications and consumer preferences are expected to shift as quality levels increase.

The growing demand for Storage Heater owing to easy installation and maintenance is a significant factor that is expected to push the Water Heater industry during the forecast period 2021-2026.

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Electric Water Heaters Market Dynamics, Growth Prospect and Consumption Analysis till 2022

22nd November 2021 – The global electric water heaters market size is expected to value at USD 29.32 billion by 2022. The market is subject to witness a substantial growth due to the growing number of residential housing projects across the globe. Factors responsible for the robust growth of electric water heaters industry, in the recent years, include increasing popularity of tank less water heaters and rising per capita income in both developed and developing economies worldwide.

The electric water heaters offer advantages such as better energy efficiency, environment-friendly capabilities and advanced temperature control for long duration of time. These factors are predicted to fuel the market demand for electric water heaters in the upcoming period. Globally, electric water heaters market is predicted to grow at CAGR of 6.9% in forecast period, providing numerous opportunities for market players to invest in research and development of these products. The electric water heater is capable of performing day-to-day applications such as cooking, cleaning, and bathing. While, increasing adoption of electric water heaters in commercial applications involving hospital and hotels are expected to stimulate market progress over the forecast period as well.

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Increasing penetration of electric water heaters in rural areas in both developing and underdeveloped economies coupled with lowered cost are anticipated to boost market performance for electric water heater industry, in the near future. Additionally, easy availability of electric water heaters due to presence of supermarkets, hypermarkets, retail stores and e-commerce retail chains is positively affecting market growth. The recent technological advancements coupled with development of novel products has led to soaring demand for electric water heater market from Asia Pacific region. Stringent laws and regulations placed by regional governments across the globe has led to the shifting focus towards adoption of safety awareness protocols, improved quality standards, and energy efficiency by industry players. These factors are expected to drive the growth of the market over the forecast period.

However, less availability of electricity and shortages are limiting market growth to a certain extent. Additionally, latest trends involving increasing adoption of solar powered water heaters and adoption of hybrid products are expected to restrain market growth in the upcoming years. Growing popularity of the hybrid water heater among consumers is credited to its capability to operate on more than two energy sources. Furthermore, changing electricity prices, stringent environmental laws and regulations, and volatile raw material prices are projected to hamper market demand for electric water heaters.

The market is broadly categorized into three major types based on end-user application such as residential, industrial and commercial electric water heaters. The residential electric water heaters is considered as one of the fastest growing segment in the electric water heaters industry with substantial revenue generation in the last couple of years. Growing demand for residential electric water heater is attributed wide range of end-user application such as cooking, bathing, space heating, and cleaning. Commercial water heater segment has also displayed massive growth, in the recent years, owing to the increasing demand from commercial places such as business, apartment houses, commercial buildings, hotels, and hospitals. Growing demand from restaurants, schools, and hotels is expected to foster market growth of commercial water heater segment.

The electric water heaters market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, lower cost of electricity, and existence of well-established manufacturing sector. Asia-Pacific region is predicted to hold major market share in electric water heaters with massive growth in forecast period. Countries such as India and China are leading the Asia-Pacific market with improved standard of living, rising per capita income, shifting trend towards automated temperature control, energy efficient solutions and environmental sustainability, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the electric water heaters industry are A.O. Smith Co., General Electric Company, Inc., Rheem Manufacturing Co., Ariston Thermo SpA, Hubbell Electric Heater Co., and Siemens AG.

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