Electric Water Heater Market Growth By Key Players: Bradford White Corporation, A.O. Smith, Rheem Manufacturing Company, Haier Elsectronics and Ariston Thermo

Market Overview: -

Electric Water Heater Market size has witnessed a massive upsurge in the recent times owing to the consistent product upgradation and business expansion approaches adopted by the major market players, coupled with rising disposable income of households, increasing electrification in the developing nations and rigorous energy-efficient regulations being prescribed by governments across the globe. The ever-evolving consumer behavior and altering purchase patterns have further fueled the growth of electric water heaters market. With rising consumer education regarding water-heater performance and energy efficiency, the manufacturers have been compelled to rethink about the current designs of electric water heaters and enhance the existing technologies.

To cite a noteworthy instance, one of the global industry leaders partaking in electric water heater industry, Bradford Corporation, has recently launched its eF series water heaters equipped with a thermal efficiency of 90% and a higher hot-water retrieval. Furthermore, citing an instance of robust partnerships, U.S. based water heating systems provider, Aquanta Inc., recently announced its alliance with the leading electric utility and energy solutions provider in the U.S., NRTC to build a strong distribution framework to supply its smart water heater controller in the U.S. market. Similar moves are likely to materialize over the next few years, in turn, boosting the electric water heater market growth.

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Top Key Players: -

Companies in electric water heater market players such as Bradford White Corporation, A.O. Smith, Rheem Manufacturing Company, Haier Elsectronics and Ariston Thermo have a firm footprint in the electric water heater market.

Market share calculation in this report is not done based on companies covered in it. The calculation of electric water heater market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

Europe electric water heater market is predicted to witness significant growth over the forecast timeline. This is attributed to the increasing use of renewable energy along with energy efficiency and emission control regulations. Increasing purchasing power of consumers in the growing economies provides huge potential for the market growth.

As per the estimates, the Asia Pacific region would steer the electric water heater market growth prospects owing to its huge population, rising disposable income of households, increasing construction activities in residential and commercial spaces, especially in countries such as China and India.

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Partial Chapter of the Table of Content

Chapter 1 Methodology & Scope

1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary

Chapter 2 Executive Summary

2.1 Electric water heater industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends

Chapter 3 Electric Water Heater Industry Insights

3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Grid interactive electric resistance water heater
3.4.2 Ohmic array technology
3.4.3 Smart water heater
3.5 Regulatory landscape
3.5.1 U.S.
3.5.1.1 National appliance energy conservation act
3.5.2 EU
3.5.2.1 Commission Regulation (EU)No 814/2013
3.5.2.2 BNDH EWH02
3.5.2.3 Energy labeling directive 2010/30/EU
3.5.3 China
3.5.3.1 NDRC/AQSIQ/CNCA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Residential and non-residential infrastructure spending
3.6.1.2 Energy saving and improved environment sustainability
3.6.1.3 Positive purchasing power outlook
3.6.2 Industry pitfall and challenges
3.6.2.1 Solar power as a substitute for electric water heaters
3.6.2.2 Rising electricity prices
3.7 Growth potential analysis
3.7.1 Application potential
3.8 Porter’s analysis
3.9 Competitive landscape, 2015
3.9.1 Strategy dashboard
3.10 PESTEL analysis

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Electric water heater industry is poised to witness great demand for energy efficient products, especially against the backdrop of escalating electricity tariffs and growing governmental emphasis on conserving energy. The magnitude of expansion across each product of electric water heater market such as tankless electric water heater and storage based electric water heater has been immense. Of these, the tankless electric water heaters minimize standby energy losses and last longer.

In addition, tankless electric water heaters have been evolving with the upcoming market players conjoining the already popular water heater with ohmic array technology. For instance, U.S. based Heatworks Technologies has raised $7.2 Million from investors including Microsoft to produce state-of-the-art tankless electric water heater using its patented Ohmic Array technology which includes graphite electrodes instead of metal heating and hence never rusts, unlike traditional heating products. With the introduction of such products, the upcoming electric water heater market players are attempting vigorously to gain competitive edge in the growing market size dominated by influential players.

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