India Water Heater Market Outlook, 2021

  • ID: 3345015
  • Report
  • Region: India
  • 114 pages
  • Bonafide Research
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Solar Water Heater to Experience the Fastest Growth in Upcoming Five Years.

FEATURED COMPANIES

  • A.O Smith
  • Bajaj Electricals Limited
  • Crompton
  • Havells India
  • Kenstar
  • Racold Thermo
  • MORE
India has rich traditions and history in holistic strategies for buildings and construction. Electricity use in both residential and commercial sectors is primarily for lighting, air conditioning, refrigeration, appliances and water heating. The urban sector depends heavily on commercial fuels for its energy needs. Water heating in India varies by region and dwelling. In the urban areas it is common to have a water heater. In rural areas, hot water is generated by the use of open fires or an electrified hand-held stick that heats water in a bucket. This report is about the market size of the water heater market in India and how because of the increasing purchasing power of the consumers, water heaters pose as a necessity than a luxury. This report reveals how government is focusing on promoting the solar segment of the water heater market. The report also reveals the trend in this industry is shifting to solar water heater as people are becoming aware of the cost saving features of the renewables and the long time sustainability than the electric ones.

The water heater market in India was estimated to have a market of more than INR 1600 crore in 2015. Better government subsidies for solar heating, along with better infrastructure and pipe water facilities in rural India, would drive the penetration of water heaters greatly. Electricity shortages and frequent outages are major constraints in the use of solar heaters, causing higher penetration of electric water heaters, especially in Tier 2 and 3 towns. Some of the major players in the water heater market are Racold, Bajaj, V-Guard, Venus and A.O Smith. The strong foothold of the organized sector in the market, the increasing use of hot water in all the residential purposes and the commercial sectors usage of water heaters are some of the factors which are expected to make the water heater market grow till 2021.

According to “India Water Heater Market Outlook, 2021”, the market for water heater in India grew with a CAGR of more than 10% from 2010 to 2015. Electric water heaters dominate the Indian water heater market. Solar water heater which is at a developing stage is expected to acquire a major market share till 2021. Water heaters are mainly an equipment of the residential segment. But with new innovations in technology, water heaters are being accepted in the commercials as well as industrial sector. The organized players are having the major share of the market. Though the unorganized sector is expected to increase with a greater CAGR than that of organized ones, the organized sector is expected to maintain its lead. New entrants are also increasing and their revenue share is expected to grow over the forecasted period, owing to their expansion plans and widening of dealership networks.

“India Water Heater Market Outlook, 2021” discusses the following aspects of water heaters in India:

Key Category
1. Global Water heater Market Outlook
2. India Water heater Market Outlook

“India Water Heater Market Outlook, 2021” discusses the following aspects of water heater market in India:

The report gives an in-depth understanding of Water heater market in India:
  • Global Water Heater Market Outlook - Market Size & Forecast By overall market, By region, By technology
  • Global Water Heater Market Outlook - Market size By Volume - By overall Market, By region, By technology
  • Segmental Analysis - By End User segment, By country, By technology, By technology used in different countries
  • India Water Heater Market Outlook - Market Size & Forecast By overall market, By state, By technology, By Company
  • India Water Heater Market Outlook - Market Size By Volume - Overall Market
  • Segmental Analysis - By Region, By Company, By technology, By Capacity, By Season
  • Product Price Analysis
  • organized v/s Unorganized Market
  • The key vendors in this market space
  • Competitive Landscape & Strategic Recommendations
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Report Methodology

The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of Water Heater Market in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • A.O Smith
  • Bajaj Electricals Limited
  • Crompton
  • Havells India
  • Kenstar
  • Racold Thermo
  • MORE
1. Executive Summary
2. Global Water Heater Market Outlook
2.1. Market Size By Value
2.2. Market Size By Volume
2.3. Market Share By Type
2.4. Global Electric Water Heater Market Outlook
2.4.1. Overall Market
2.4.1.1. Market Size By Value
2.4.1.2. Market Size By Region
2.4.2. Market Size By Volume
2.4.3. Market Share
2.4.3.1. By Country (Volume)
2.4.3.2. By End User (Value)
2.5. Market Potential
2.6. Pricing Analysis
3. India Water Heater Market Outlook
3.1. Market Size By Value
3.2. Market Size By Volume
3.3. Market Share
3.3.1. By Type (Volume & Value)
3.3.2. By End User (Residential & Commercial)
3.3.3. By Demand Generation
3.4. India Electric Water Heater Market Outlook
3.4.1. Market Size By Value
3.4.1.1. Overall Market
3.4.1.2. Organized Vs Unorganized Electric Water Heater Market
3.4.2. Market Size By Volume
3.4.3. Market Share
3.4.3.1. By Company
3.4.3.2. By Region
3.5. India Solar Water Heater Market Outlook
3.5.1. Market Size By Value
3.5.1.1. Overall Market
3.5.1.2. Organized Vs Unorganized Solar Water Heater Market
3.5.2. Market Size By Volume
3.5.3. Market Share
3.5.3.1. By Company
3.5.3.2. By Region
3.6. India Gas Water Heater Market Outlook
3.6.1. Market Size By Value
3.6.2. Market Size By Volume
4. Pricing Analysis
5. India Economic Snapshot
6. Raw Material
7. Manufacturing Process
8. Policy & Regulatory Landscape
9. Market Penetration
10. PEST Analysis
11. Trade Dynamics
11.1. Import
11.2. Export
12. Channel Partner Analysis
13. India Water Heater Market Dynamics
13.1. Key Drivers
13.2. Key Challenges
14. Market Trends & Developments
14.1. Wi-Fi Enabled Water Heaters
14.2. Singing Water Heaters
14.3. Increasing Preference for Brands
14.4. Growing Awareness and Acceptability of Solar Water Heaters
14.5. Hybrid Water Heaters
15. Competitive Landscape
15.1. Porters Five Forces
15.2. Company Profiles
15.2.1. Havells India Ltd.
15.2.2. Racold Thermo Pvt. Ltd.
15.2.3. Bajaj Electricals Ltd.
15.2.4. Venus Home Appliances (P) Ltd.
15.2.5. Crompton Greaves Consumer Electricals Ltd.
15.2.6. Usha International Ltd.
15.2.7. A. O. Smith Corporation
15.2.8. Kitchen Appliances India Ltd.
15.2.9. V-Guard Industries Ltd.
16. Strategic Recommendations
17. Disclaimer

List of Figures:
Figure-1: Global Water Heater Market Size By Value 2010 - 2015 (USD Billion)
Figure-2: Global Water Heater Market Size Forecast By Value 2016F - 2021F (USD Billion)
Figure-3: Global Water Heater Market Size By Volume 2010 - 2015 (Million Units)
Figure-4: Global Water Heater Market Size Forecast By Volume 2016F - 2021F (Million Units)
Figure-5: Global Water Heater Market Share - By Type 2015 and 2021F
Figure-6: Global Electric Water Heater Market Size By Value 2010 - 2015 (USD Billion.)
Figure-7: Global Electric Water Heater Market Size Forecast By Value 2016F - 2021F (USD Billion.)
Figure-8: Global Electric Water Heater Market Size By Region 2010- 2015 (USD Billion.)
Figure-9: Global Electric Water Heater Market Size Forecast By Region 2016F- 2021F (USD Billion.)
Figure-10: Global Electric Water Heater Market Size By Volume 2010- 2021F (Million Units)
Figure-11: Global Electric Water Heater Market Share - By Country By Volume 2015 & 2021F
Figure-12: Global Electric Water Heater Market Share - By End User By Value 2015 & 2021F
Figure-13: India Water Heater Market Size By Value 2010 - 2015 (INR Crore)
Figure-14: India Water Heater Market Size Forecast By Value 2016F - 2021F (INR Crore)
Figure-15: India Water Heater Market Size By Volume 2010 - 2015 (Million Units)
Figure 16: India Water Heater Market Size Forecast By Volume 2016F - 2021F (Million Units)
Figure-17: India Water Heater Market Share - By Type By Volume 2015 & 2021F
Figure-18: India Water Heater Market Share - By Type By Value 2015 & 2021F
Figure-19: India Water Heater Market Share - By End User 2015 & 2021F
Figure-20: India Water Heater Market Share - By Demand Generation 2015 & 2021F
Figure-21: India Electric Water Heater Market Size By Value 2010 - 2015 (INR Crore)
Figure-22: India Electric Water Heater Market Size Forecast By Value 2016F - 2021F (INR Crore)
Figure-23: India Organized Vs. Unorganized Electric Water Heater Market Size By Value 2010 - 2015 (INR Crore)
Figure-24: India Organized Vs. Unorganized Electric Water Heater Market Size Forecast By Value 2016F - 2021F (INR Crore)
Figure-25: India Electric Water Heater Market Size By Volume 2010 - 2021F (Million Units)
Figure-26: India Electric Water Heater Market Share - By Company 2015 & 2021F
Figure-27: India Electric Water Heater Market Share - By Region 2015 & 2021F
Figure-28: India Solar Water Heater Market Size By Value 2010 - 2015 (INR Crore)
Figure-29: India Solar Water Heater Market Size Forecast By Value 2016F -2021F (INR Crore)
Figure-30: India Organized Vs. Unorganized Solar Water Heater Market Size By Value 2010 - 2015 (INR Crore)
Figure-31: India Organized Vs. Unorganized Solar Water Heater Market Size Forecast By Value 2016F - 2021F (INR Crore)
Figure-32: India Solar Water Heater Market Size By Volume 2010 - 2021F (Million Units)
Figure-33: India Solar Water Heater Market Share - By Company 2015 & 2021F
Figure-34: India Solar Heater Market Share - By Region 2015 & 2021F
Figure-35: India Gas Water Heater Market Size By Value 2010 - 2021F (INR Crore)
Figure-36: India Gas Water Heater Market Size By Volume 2010 - 2021F (Million units)
Figure-37: Average Selling Price of Water Heaters in India 2010 - 2021F (INR)
Figure-38: General Manufacturing Process of Electric Water Heaters
Figure-39: Import of Water Heaters in India 2011-12 to 2015-16 (USD Billion)
Figure-40: Export of Water Heaters from India 2011-12 to 2015-16 (USD Billion)
Figure-41: Distribution Channel followed by Water Heater Manufacturers in India

List of Tables:
Table-1: Country-wise Market Potential - 2014
Table-2: India Economic Profile - 2014
Table-3: Star Rating Plan for Stationary Type Electric Water Heaters
Table-4: Key Facts of Havells India Ltd.
Table-5: Key Facts of Racold Thermo Pvt. Ltd.
Table-6: Key Facts of Bajaj Electricals Ltd.
Table-7: Key Facts of Venus Home Appliance Pvt. Ltd.
Table-8: Key Facts of Crompton Greaves Consumer Electricals Ltd
Table-9: Key Facts of Usha International Ltd
Table-10: Key Facts of A.O Smith Corporation
Table-11: Key Facts of Kitchen India Appliances Ltd.
Table-12: Key Facts of V- Guard Industries Ltd.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • A.O Smith
  • Bajaj Electricals Limited
  • Crompton
  • Havells India
  • Kenstar
  • Racold Thermo
  • MORE
Higher disposable income, increasing purchasing power of the customers, growing awareness among the people, and immense support from the government side is expected to drive the solar water heater market in the India Water Heater Market.

According to the report “India Water Heater Market Outlook, 2021” though the electric water heaters are currently dominating the market, solar water heaters in the country have also gained prominence among Indian consumers over the past few years and are expected to grab a share of 40% by 2021. The solar water heaters are the driving technology in the water heater industry. With the depleting non renewables in the world, the authorities are pushing the consumers to go solar. The government is also trying to convert the already installed water heaters to be converted to solar type water heaters. As the population is increasing, so is the demand for power leading to the consumption of more electricity. With the depletion of existing non renewables, the renewable energy comes out to be the only solution. So it is expected that the market for the solar water heaters will lead the water heater market globally.

Water heater is a household appliance consisting of a gas or electric heating unit under a tank in which water is heated and stored. Electric water heating is the conventional method, solar water heating is gaining significance in the last 5 years or so. Gas water heaters have been stagnant over the last couple of years because of low diffusion of piped gas networks. Since availability of hot water for bathing purposes becomes a necessity during winter months, boiling of water is the most common and affordable practice in the lower socio economic classes (SEC C and below). Higher SECs use electric or solar water heating. Solar water heaters is one of the technology which the customers were not much aware of and were majorly not interested in because of the long installation process, regular maintenance needs and the high cost. But now with government promoting the idea of installing water heaters at home with subsidy benefits, solar water heaters are also on a go.

Solar water heaters are the fastest growing segment in India water heater market. Further, growth in this segment is expected on account of rising awareness among consumers, pertaining to the benefits of solar water heaters both in terms of energy efficiency and being eco-friendly. Gas water heater market in the country is still at a nascent stage, but is expected to pick pace on the back of expansion of piped gas network across the country. The government subsidy is a major plus in the solar water heater segment. The only thing that refrains the solar segment of water heater from having the highest share in the water heater is the inefficiency in the monsoon season. As technology developments are made, this drawback is also expected to be solved till 2021.
Note: Product cover images may vary from those shown
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  • Havells India
  • Remson
  • Racold Thermo
  • Bajaj Electricals Limited
  • Venus
  • Crompton
  • Usha
  • A.O Smith
  • Kenstar
  • V-Guard
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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