Global Electric Water Heater Market Size, Share & Trends Analysis Report by Product Type (Tankless Water Heater and Storage Water Heater), By Application (Residential, Commercial, and Industrial) and Forecast 2020-2026.
The global electric water heater market is estimated to grow significantly during the forecast period. Extreme climatic conditions along with rising industrialization combinedly drive the demand for water heaters across the globe that further ac as a driving factor for the market. Moreover, the replacement of existing water heating systems with compact design and more efficient systems such as heat pump water heaters (HPWH), makes the deployment of water heaters inevitable in the commercial and industrial sector further provide significant opportunity to the market. However, the inclination towards energy efficient water heater such as solar water heater further projected to hinder the market growth during the forecast period.
The global market for electric water heater is further classified on the basis of product type and application. Based on the product type, the market is further classified into tankless water heater and storage water heater. The tankless water heater segment is projected to have significant CAGR in the global electric water heater market. Tankless water heaters are compact units that provide hot water as needed, without storing it as conventional tank-type water heaters. These water heaters significantly reduce standby losses, which in turn, makes them an energy-efficient substitute to conventional water heaters. On the basis of application the market is further segregated into residential, commercial, and industrial. Based on geography, the global electric water heater market is further segregated into North America, Europe, Asia-Pacific and the Rest of the World. Among, region Asia-Pacific is projected to have a considerable share in the global electric water heater market.
The companies which are contributing to the growth of the global electric water heater market include A.O. Smith Corp., Bajaj Electricals Ltd., Haier electronics group Co., Ltd., Havells India Ltd., General Electric Co., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.
Research Methodology
The market study of the global electric water heater market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.
Secondary Sources Include
The report is intended for electric water heater providers, end-user companies for overall market analysis, and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.
Market Segmentation
1. Global Electric Water Heater Market Research and Analysis by Product Type
2. Global Electric Water Heater Market Research and Analysis by Application
The Report Covers
The global electric water heater market is estimated to grow significantly during the forecast period. Extreme climatic conditions along with rising industrialization combinedly drive the demand for water heaters across the globe that further ac as a driving factor for the market. Moreover, the replacement of existing water heating systems with compact design and more efficient systems such as heat pump water heaters (HPWH), makes the deployment of water heaters inevitable in the commercial and industrial sector further provide significant opportunity to the market. However, the inclination towards energy efficient water heater such as solar water heater further projected to hinder the market growth during the forecast period.
The global market for electric water heater is further classified on the basis of product type and application. Based on the product type, the market is further classified into tankless water heater and storage water heater. The tankless water heater segment is projected to have significant CAGR in the global electric water heater market. Tankless water heaters are compact units that provide hot water as needed, without storing it as conventional tank-type water heaters. These water heaters significantly reduce standby losses, which in turn, makes them an energy-efficient substitute to conventional water heaters. On the basis of application the market is further segregated into residential, commercial, and industrial. Based on geography, the global electric water heater market is further segregated into North America, Europe, Asia-Pacific and the Rest of the World. Among, region Asia-Pacific is projected to have a considerable share in the global electric water heater market.
The companies which are contributing to the growth of the global electric water heater market include A.O. Smith Corp., Bajaj Electricals Ltd., Haier electronics group Co., Ltd., Havells India Ltd., General Electric Co., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.
Research Methodology
The market study of the global electric water heater market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook.
In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.
Secondary Sources Include
- Financial reports of companies involved in the market.
- Whitepapers, research-papers, and news blogs.
- Company websites and their product catalog.
The report is intended for electric water heater providers, end-user companies for overall market analysis, and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.
Market Segmentation
1. Global Electric Water Heater Market Research and Analysis by Product Type
2. Global Electric Water Heater Market Research and Analysis by Application
The Report Covers
- Comprehensive research methodology of the global electric water heater market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global electric water heater market.
- Insights about market determinants which are stimulating the global electric water heater market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
A selection of companies mentioned in this report includes:
- A.O. Smith Corp.
- Ariston Thermo SpA
- ATC Electrical and Mechanical, Ltd.
- Bajaj Electricals Ltd.
- Bandini Scaldabagni SpA
- Bradford White Corp.
- Crompton Greaves Consumer Electricals Ltd.
- General Electric Co.
- Haier electronics group Co., Ltd.
- HTP Comfort Solutions LLC
- Havells India Ltd.
- Hangzhou Kangquan Water Heater Co., Ltd.
- Hubbell Electric Heater Co.
- Marey Heater Corp
- Robert Bosch GmbH
- Rheem Manufacturing Company, Inc.
- Racold Thermo Pvt. Ltd.
- Stiebel Eltron, Inc.
- Transform Holdco LLC (Kenmore)
- Venus Home Appliances (P) Ltd.
