Press Release

Australia Solar Water Heater Market to Grow at a Substantial CAGR until 2025

Increasing awareness about sustainable development is driving the market growth through the forecast period.

According to TechSci Research report, “Australia Solar Water Heater Market By Technology (Active Solar Water Heating System and Passive Solar Water Heating System), By Collector Type (Flat-Plate Solar Collector and Evacuated-Tube Solar Collector), By End Use (Residential, Commercial and Industrial), By Region, Forecast & Opportunities, 2025”, Australia solar water heater market is anticipated to grow at a substantial CAGR in the upcoming five years. Standard electrical water heaters are a major cause of greenhouse gases in Australian homes. Therefore, to curb or reduce the emissions as well as to save energy to a large extent, electrical water heaters are now being replaced with solar water heaters which reduce the emissions by approximately 2.4-3 tonnes. Thus, rising need of sustainable development can be held responsible for the growth of market in Australia. Besides, another factor that can be held for the market growth in the region is that they are also cost-effective and thus, support ample number of Australian jobs and domestic manufacturing businesses. In 2019, roughly 63000 solar water heaters were installed in the country taking the total units of installations to 1.23 million. Solar water heaters (SWH) occupy about 13% of all water heating systems installed in the country.


Australia possesses a high potential in the solar water heater market as it receives high annual sunlight. According to a group leader of solar technology at Commonwealth Scientific and Industrial Research Organisation or CSIRO, sunlight falling on 0.03% of Australian land is enough to provide electricity to the entire Australia. This abundant natural supply of sunlight when coalesced together with the consistently advancing technology can produce extremely lucrative results and vast opportunities for the Australian solar water heater market. However, the extra costs during the installation of solar water heaters are expected to pose as a barrier in the growth of the market. These extra costs include the costs of roof strengthening, plumbing, and repairing when it comes to valves, pumps, tanks and pumps. Furthermore, lack of awareness in context to the utility of solar water heaters and their capabilities to save energy and cost is also expected to hamper the market growth in Australia.

 

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Australia solar water heater market is segmented based on technology, collector type, end use, company and region. Based on collector type, market is bifurcated into flat-plate solar collector and evacuated-tube solar collector among which flat-plate solar collector dominated the market in the year 2019 as they are the most suitable water heaters for small residential and commercial bodies. Furthermore, expedition of the product adoption and deployment is assisted by the advancing technology, less complex design and cost effectiveness of the product.

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Some of the leading players in Australia solar water heater market include Rheem Manufacturing Co Proprietary Ltd., Viessmann Australia, V-Guard Industries, Racold, Suntanks, Chromagen Australia Pty Ltd, Himin Solar Co.,Ltd, Bosch Thermotechnology, Rinnai Australia Pty. Ltd., Linuo Ritter International and many others.

“Australia solar water heater market is anticipated to witness significant growth during the next five years as the people are becoming more aware about the importance of saving more and more energy for future generations. Keeping in mind the sustainable development, Australian government has also initiated the promotion of solar water heaters to reduce carbon emissions as well as eased the flow of money in this industry”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Australia Solar Water Heater Market By Technology (Active Solar Water Heating System and Passive Solar Water Heating System), By Collector Type (Flat-Plate Solar Collector and Evacuated-Tube Solar Collector), By End Use (Residential, Commercial and Industrial), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of Australia solar water heater market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia solar water heater market.

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