Subsidies provided by various state governments for installing solar water heaters coupled with rising consumer awareness to fuel India solar water heater market through 2023
According to a recently published TechSci Research report “India Solar Water Heater Market By Technology, By Collector Type, By End Use, Competition Forecast & Opportunities, 2023”, India solar water heater market is projected to reach $ 180 million by 2023 on account of increasing demand for solar water heaters from the residential sector. Further, improving infrastructure and rising availability of piped water facility across the rural regions in India is expected to drive adoption of solar water heaters in the country over the next five years. Additionally, implementation of GST is expected to have a positive impact on the organized solar water players operating in the country. V-Guard Industries grabbed the largest share in India solar water heater market in 2017 and the company is likely to maintain its dominance throughout the forecast period as well.
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Among collector types, evacuated-tube solar collectors dominated India solar water heater market in 2017 as the water heaters incorporating these collectors are more efficient and are widely used in the residential sector. In 2017, residential sector had the largest application share in terms of value in India solar water heater market, and the segment is likely to maintain its dominance throughout the forecast period as well. Furthermore, Southern region of India dominated solar water heater market in the country on account of increasing subsidies provided by various state governments on installation of solar water heaters in the region.
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“In the coming years, technological advancements in solar water heaters with flat-plate technology is likely to provide better energy storage solutions in India. Furthermore, the country is witnessing a strong demand for polymer-based storage tanks, which provide better insulation and high resistance to corrosion. Such factors, coupled with rising consumer awareness, favorable policy environment and expanding middle class, is expected to positively influence India solar water heater market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Solar Water Heater Market By Technology, By Collector Type, By End Use, Competition Forecast & Opportunities, 2023” has evaluated the future growth potential of India solar water heaters market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India solar water heater market.


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