According to the latest report by IMARC Group, titled “GCC Solar Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the GCC solar water heater market reached a value of US$ 59.5 Million in 2020. Looking forward, IMARC Group expects the market to exhibit strong growth during the next five years.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A solar water heater refers to a device that uses solar energy from the sun to heat water. It is usually installed in an open space or on a terrace where the sunlight exposure is high. The water is then heated during the day and preserved in an insulated tank. The heated water can be utilized for cleaning, bathing, space heating, industrial process, etc. Solar water heater is preferred over traditional water heater as it is cost-effective, minimizes the dependence over fossil fuels, and lowers carbon footprints.
The GCC solar heat market is primarily driven by the escalating demand for eco-friendly and cost-effective energy solutions for heating water. Furthermore, with the increased levels of global warming, the governments of GCC countries are offering subsidies and incentive schemes on the installation of solar water heating systems. This, in turn, is providing a positive outlook to the market for solar water heater in the region. Moreover, the widespread adoption of solar water heaters in commercial places, such as hotels and public institutions, is also propelling the market growth. Besides this, continuous advancements in backup energy systems that facilitate efficient performance on cloudy days are projected to further drive the product demand in the GCC region over the forecasted period.
GCC Solar Water Heater Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the GCC solar water heater market has been studied in the report with the detailed profiles of the key players operating in the market.
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/gcc-solar-water-heater-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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