(MENAFNEditorial)
"GCC Solar Water Heater Market to Reach a Volume of Around 7593 MWt by 2022"
The GCC solar water heater market has witnessed a tremendous growth over the past few years. Some of the major driving factors include ease of maintenance, reduced electricity bills, an independent energy source and the environment-friendly nature of the system. IMARC Group's latest report, titled'GCC Solar Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022, finds that thereached a volume of 2774 MWt in 2016, growing at a CAGR of nearly 32% during 2009-2016. Solar water heaters refer to devices that use solar energy from the sun to heat water. They are available in several designs, all including a solar collector to collect solar energy and a storage tank to store the hot water. The solar collector needs to be placed in an open area where it can receive plenty of sunlight, without any obstruction. The water gets heated due to the diffused radiation in the atmosphere, which results in a steady supply of hot water. Highlights of the GCC Solar Water HeaterMarket:
Ease of maintenance and reduced electricity bills remain the primary growth driving factors. On the basis of type, flat plate collector accounts for the majority of the market share. Saudi Arabia holds the majority of the global share, representing the largest market. Request a free sample copy of the report: Solar water heaters are gaining popularity in the GCC region on account of the numerous benefits they provide. The system is easy to install and requires maintenance only once in every few years. After the initial installation of solar water heaters, consumers start receiving financial benefits such as reduced electricity bills. Another factor contributing to the solar water heater market is the environment-friendly nature of the system. As solar water heaters use a renewable source of energy, the carbon dioxide emissions are drastically reduced. Further, the use of solar water heaters helps to decrease the region's reliance on foreign energy sources, leading to the domestic market growth. According to the report, the market is further expected to reach a volume of around 7593 MWt by 2022.
The market has been segmented on the basis of type. Currently, flat plate collector accounts for the majority of the market share. The market has also been segmented on the basis of end-use, covering commercial, residential, government buildings and others. Country-wise, Saudi Arabia represents the leading market for solar power heaters. Some of the key players operating in the market are Ariston, Viessman and Ecotherm.
To view the report summary and Table of Contents, click on:
The report has examined the GCC solar water heater market on the basis of:
Product Type:
Flat plate collector Evacuated tube collector Unglazed water collector End-use:
Commercial Residential Government buildings Others Region:
Saudi Arabia UAE Kuwait Oman Qatar Bahrain Major Manufacturers:
Ariston Viessman Ecotherm Browse related reports:
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