Solar Water Heaters Market Size
Market Size in USD Bn
CAGR5.61%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 5.61% |
| Market Concentration | High |
| Major Players | Vikram Solar, Tata Power Solar Systems, SunTank, Mahindra Solar One, Azure Power India and Among Others |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Solar Water Heaters Market Analysis
The solar water heaters market is estimated to be valued at USD 6.21 Bn in 2024 and is expected to reach USD 9.1 Bn by 2031. It is expected to grow at a compound annual growth rate (CAGR) of 5.61% from 2024 to 2031. The solar water heaters market is expected to witness significant growth with a rising number of consumers to shift towards solar water heating systems.