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Water Heater Market Trends 2018: The top key players are A. O. Smith Corporation, Bradford White Corporation, Ferroli, Bosch, Rheem Manufacturing Company, Jaquar, Ariston Thermo, Himin Solar, Whirlpool, Haier, Hubbell Incorporated, Racold

09-17-2018 09:09 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Water Heater Market

Water Heater Market

Stringent government regulations to limit carbon emissions along with the increasing penetration of advanced water heating technologies will drive the global market. Growing consumer inclination toward the adoption of energy efficient systems owing to their operational benefits will stimulate the product demand. As per the Ecodesign Directive 2009/125/EC, all the energy-related products across EU member states should be mandated with ecological requirements. This directive currently covers over 40 product groups and aims at reducing energy use and mitigate the environmental impact under its scope.

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U.S. market was valued over USD 2 billion in 2017. Increasing adoption of natural gas owing to limited carbon footprint when compared to coal & other fossil fuels will stimulate the industry growth. In addition, augmented supply together with reduced consumer prices have encouraged natural gas consumption that will fuel the product demand. For instance, according to U.S. Energy Information Association, in 2018, the overall natural gas consumption in the lower 48 states increased up to 11% and the total supply raised up to 10% when compared with 2017.

Increasing demand for replacement of conventional water heating systems along with recent developments in the efficient heating technologies will stimulate the global market. Improvement in living standards as a result of rising per capita income will increase the affordability & accessibility of these products. For instance, according to “Bureau of labor statistics”, in U.S., the annual rate of change of personal income from 2006-2016 was 3.4% and is anticipated to reach to 4.3% by 2026.

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Solar water heater market will grow on account of increasing adoption across residential & commercial establishments owing to government subsidies & incentives toward renewable energy systems. Favorable regulatory policies and initiatives to reduce the dependency on fossil-fuels along with increasing GHG emissions are the vital parameters which will positively impact the product demand. For instance, as per the “International Energy Agency”, in Cyprus, more than 90% of the overall households are equipped with solar water heaters.

Increasing infrastructure development coupled with an upsurge in urbanization rate across the emerging economies will positively influence the market. In addition, growing focus toward the implementation of green growth strategies along with expansion of residential establishments will complement the product adoption. According to UN’ “Department of Economic and Social Affairs”, in 2018, around 55% of the global population dwelled in urban settlements and it is anticipated to increase upto 68% by 2050.

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Growing product adoption primarily across residential and small-commercial establishments owing to their cost-effectiveness & energy efficiency will drive the market. For instance, in 2018, the European Commission’s, Parliament and Council signed an agreement which includes binding energy efficiency target of over 32.5% by 2030.

Commercial water heater market will witness an extensive growth on account of the development of facilities & services across healthcare, hotels, shopping complexes and office buildings. In addition, shifting trends from oil & gas-based economies to hospitality & tourism sector will augment the product demand. For instance, the mainland Chinese’ investment towards hotel real estate sector grew by a compound annual growth rate of 130 % from 2012 to 2016.

Notable industry players across the global market includes Chromagen, A.O Smith, Himin Solar Energy, Sun Tank, V Guard Industries, Alternate Energy Technologies, Racold, Viessmann, Bosch, Rheem manufacturing, Linuo Ritter, Bradford White and Wagner Solar.

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Global water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms USD & Units from 2013 to 2024, for the following segments:

Global Water Heater Market, By Product

Solar
Instant
Electric
Gas
Storage
Electric
400 liters

Global Water Heater Market, By Capacity

400 liters

Global Water Heater Market, By Application

Residential
Commercial
College/University
Office
Government/Military

Global Water Heater Market, By Fuel

Natural Gas
LPG

The above information is provided on a regional basis for the following:

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Italy
Austria
Spain
Netherland
Denmark
Finland
Sweden
Norway
Eurasia
Russia
Belarus
Armenia
Kazakhstan
Kyrgyzstan
CIS
Azerbaijan
Moldova
Tajikistan
Turkmenistan
Ukraine
Uzbekistan
Asia Pacific
China
Australia
India
Japan
South Korea
Indonesia
Malaysia
Singapore
Thailand
New Zealand
Philippines
Middle East & Africa
Saudi Arabia
UAE
Qatar
Kuwait
Bahrain
Oman
Turkey
South Africa
Nigeria
Algeria
Egypt
Israel
Cyprus
Lebanon
Iraq
Latin America
Brazil
Argentina
Chile

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/

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