Saudi Arabia water heater market will witness an appreciable growth on account of significant economic transformation and rapid urbanization in the country
This press release was orginally distributed by SBWire
Sellbyville, DE — (SBWIRE) — 10/25/2018 — The Saudi Arabia water heater market has vastly benefited from the economic and infrastructural boom resulting from the kingdom’s oil-derived wealth. A majority of the cities in the country are undergoing massive transformations, incorporating modern building techniques and energy competent structures to outfit a multitude of utilities, serving to a varied demographic. The geographical positioning of Saudi Arabia has permitted the effective harnessing of solar energy, while hydro and oil gas driven power plants supply low cost electricity to most of the region. Subsequently, solar and electric water heaters form the crux of the Saudi Arabia water heater industry. Availability of sufficient sources to deliver heated water for residential purposes has captured the attention of many international brands, coercing them to enter the market. Further, the application of heated water in commercial establishments such as office spaces, shopping malls, stadiums and hotels aided Saudi Arabia water heater market to procure a remuneration of over USD 450 million in 2017.
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Increasing population has a direct impact on the energy and utility demands of any country. Reports estimate that the population of Saudi Arabia will reach to about 39.1 million by 2030 as compared to approx. 33.5 million today, signifying the potential of the Saudi Arabia water heater market through the next decade. As the country’s populace is experiencing lifestyle transitions and moving to bigger residences, water supply will be the most instigating factor for government initiatives aimed at delivering cost-effective services to the public. The country has limited access to fresh water and in the process of countering this obstacle has become the world’s largest supplier of desalinated water, using various methods to distill seawater.
To indicate the influence of water supply on the Saudi Arabia water heater industry, Energy Recovery, Inc. announced in March this year that the company has been awarded a USD 10.1 million contract for supplying its advanced pressure and pump technologies to water projects in the country. These will be installed at several desalination facilities and will produce up to 470,000 cubic meters of water per day. Such progressive ventures ensure that the country’s inhabitants as well as industries are provided with adequate water supply, maintaining a lucrative future for the Saudi Arabia water heater market.
Water heaters and water heated steam have extensive domestic applications such as cooking, cleaning, bathing, space heating and industrial uses in paper manufacturing, food processing, waste water management, among others. A key perspective with regards to the Saudi Arabia water heater market is delivering the power generated from multiple sources to the end user. Due to globalization and a collective awareness of environmental issues, people have become more conscious and are preferring cleaner and more energy-efficient appliances.
As of late, Saudi Arabia has been making strides towards shifting from its fossil fuel-based development to a different energy pathway. A record states that the greatest solar resources in the world extends from the Sahara Desert to northwestern Saudi Arabia. The kingdom is set to be a prominent user of solar power, with a solar radiation of up to 2,550 kWh/m2 and currently in a phase of expanding its harness capacity. Until now solar heating and cooling were uncommon in the country but last year a new housing program introduced by the government added solar water heating to the list of suitable technologies, propagating the solar heaters segment within the Saudi Arabia water heater market.
Demonstrating the advancements in Saudi Arabia water heater industry, the kingdom had presented to the world a landmark institution, not only in terms of cultural evolution but also infrastructural significance. The Princess Noura bint AbdulRahman (PNBAR) University near Riyadh is the largest university for women in the world and constitutes a blend of modern and traditional architecture. However, a relatively important feature of the university is the solar water heater built for it, which is the biggest solar thermal power plant of its kind in the world.
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It comprises of a 36,305 m2 collector surface with the solar panels being mounted on the roof. Superior in dimensions and clearly more difficult to implement than residential water heaters, the achievement still denotes a milestone for the Saudi Arabia water heater market. The project is a prime example of large-scale commercial utilization of water heaters outside resorts and business towers.
Saudi Arabia is undertaking huge steps to realize its Saudi Vision 2030 which involves developing renewable energy source and providing products that help reduce energy wastage and cost. Following the initiative, industry leaders such as Saudi Ceramics, Rheem manufacturing, A.O. Smith, Bosch, Ariston and Bradford White have established strong distribution networks and affordable, energy-efficient products in the country. With more advancements in heating technologies expected, owing to a swell of regulatory obligations, the Saudi Arabia water heater market is estimated to surpass USD 500 million by 2024.
For more information on this press release visit: http://www.sbwire.com/press-releases/saudi-arabia-water-heater-market-notable-industry-players-saudi-ceramics-bosch-ariston-ferroli-rinnai-viessmann-vaillant-amongst-others-1073018.htm