Storage Water Heater Market to exceed USD 13 bn by 2024 | Viessmann, Bosch Thermotechnology, Ariston Thermo, A.O Smith, Rheem, State Industries, Saudi Ceramics, Haier, Jaquar, Hubbell, Whirlpool

Market Study Report LLC recently introduced new title on “2018-2024 Global Storage Water Heater Market Report” that provides an in-depth overview of industry and competitive landscape, covering multiple market segments and elaborates market outlook and status to 2024.

Ongoing investments in the real estate sector are estimated to trigger the storage water heater market growth. Speaking of the growth of the infrastructure sector, Google recently announced plans to spend over $13 billion to build more than 10,000 new data centers and offices. Likewise, Spain witnessed stupendous growth in house sales over the past three years. After a long time, Spain’s house sales are now back to normal after exceeding the threshold of 500,000 unit sales in August 2018. These developments can certainly be interpreted as a positive sign for the storage water heater market due to product deployment across commercial and residential properties, particularly across cold climate regions.

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The global storage water heater market is expected to garner considerable returns over the coming years owing to real estate expansion across the globe paired with government inclination toward energy efficiency.

The U.S. water heater market will reach over USD 1 billion by 2024. Escalating service sector growth coupled with ongoing regulatory compliances toward the installation of energy efficient electrical system will augment the business landscape. Ongoing refurbishment and replacement of conventional systems with newly designed compact and low power consuming models will enhance the business outlook.

Growing adoption of energy efficient appliances along with consumer inclination toward cost savings will foster the storage water heater market growth Rapid expansion of commercial buildings coupled with significant investment for the development of real estate will complement the business landscape. As per the estimates of the U.S. Department of Energy the electric water heaters can result in energy savings of up to 27 to 50% at each outlet.

Asia Pacific water heater market will grow on account of rising disposable income leading to significant improvement in living standards. In addition, growing urbanization rate along with extensive investment toward the expansion of commercial properties will boost the product adoption. In 2017, the urbanization rate across China escalated by 1.17 points when compared with 2016.

Furthermore, rising environmental concerns and growing electricity consumption has sprouted numerous policies and regulations pertaining to energy efficiency. Several nations have imposed stringent regulations along with tax benefits to encourage the use of energy efficient appliances among homeowners. Recently, Minneapolis enforced an ordinance requesting property owners to disclose their energy usage. Similarly in the UK, the Energy Act 2011 endorses energy efficiency of buildings within the private rented sector in England and Wales.

The increasing prominence of energy-efficiency regulations will thus boost the demand for electric water heating systems as they aid cost savings and reduce power consumption, making them a significant contributor towards the storage water heater market growth over the forthcoming years.

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Growing installation of heating systems across government hospitals, hotels, shopping malls and universities will foster the commercial water heater market. Sizeable investment for reinforcing existing heating infrastructure along with shifting industry trends toward adoption of hybrid heating technologies will augment the industry landscape.

Natural gas water heater market will grow on account of key features including rapid recovery rate, low operation cost and mass flow in comparison with other counterparts. Installation of gas heaters results in considerable reduction in heating bills across regions with gas accessibility and abundant reserves. Furthermore, suitability with commercial operations along with instant heating capacity will positively enhance the business outlook.

Eminent players across the storage water heater market include Bradford White, Ferroli, Rinnai Corporation, Bosch Thermotechnology, Ariston Thermo, A.O Smith, Rheem, State Industries, Saudi Ceramics, Haier, Jaquar, Hubbell, Whirlpool, Vaillant., Kanch Water Heaters and Viessmann.

Table of Content:

Chapter 1 Methodology & Scope

1.1 Methodology

1.2 Market definitions

1.3 Market estimates & forecast parameters

1.4 Data Sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Storage water heater market 360 degree synopsis, 2013 - 2024

2.1.1 Business trends

2.1.2 Capacity trends

2.1.3 Energy source trends

2.1.4 Application trends

2.1.5 Regional trends

Chapter 3 Storage Water Heater Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2013 - 2024

3.3 Industry ecosystem analysis

3.3.1 Vendor matrix

3.4 Innovation & sustainability

3.4.1.1 A.O Smith

3.4.1.2 RHEEM Manufacturing

3.4.1.3 BOSCH Thermotechnology

3.4.1.4 Bradford White

3.4.1.5 State Industries

3.5 Regulatory landscape

3.5.1 North America

3.5.1.1 U.S.

3.5.1.2 Canada

3.5.2 Europe

3.5.2.1 Germany

3.5.2.2 Ireland

3.5.2.3 Spain

3.5.3 Asia Pacific

3.5.3.1 India

3.5.3.2 China

3.5.3.3 Thailand

3.5.4 Middle East & Africa

3.5.4.1 Saudi Arabia

3.5.4.2 UAE

3.5.4.3 Kuwait

3.5.4.4 South Africa

3.5.4.5 Oceania

3.5.4.6 New Zealand

3.6 Customer requirement

3.6.1 Customer group requirement

3.6.1.1 Price

3.6.1.2 After sales services

3.6.1.3 Product accreditation

3.6.1.4 Space requirement & size

3.6.1.5 Energy efficiency

3.7 Entry barriers

3.8 Price trend analysis, by energy source

3.8.1 Electric

3.8.1.1 400 liters

3.8.2 Gas

3.8.2.1 400 liters

3.9 Consumed cost of energy (CCE) and NPV analysis

3.9.1 CCE analysis for water heating technology replacement options

3.9.2 NPV analysis for water heating technology replacement options

3.10 Industry impact forces

3.10.1 Growth drivers

3.10.1.1 North America

3.10.1.1.1 Growing demand for energy efficient heating systems

3.10.1.2 Europe

3.10.1.2.1 Government norms pertaining to energy efficiency

3.10.1.2.2 Growing demand for replacement of existing water heaters

3.10.1.3 Asia Pacific

3.10.1.3.1 Rapid urbanization & advanced product customization

3.10.1.3.2 Increasing demand for water heating systems

3.10.1.4 Middle East & Africa

3.10.1.4.1 Extreme climatic conditions

3.10.1.4.2 Advancing technology with rising emission standards

3.10.1.5 Middle East & Africa

3.10.1.5.1 Growing concerns toward emissions

3.10.2 Industry pitfalls & challenges

3.10.2.1 High upfront cost

3.11 Growth potential analysis

3.12 Porter's Analysis

3.13 Competitive landscape, 2017

3.13.1 Strategy dashboard

3.13.1.1 RHEEM Manufacturing

3.13.1.2 BOSCH Thermotechnology

3.13.1.3 A.O Smith

3.13.1.4 Rinnai Corporation

3.13.1.5 Bradford White

3.13.1.6 Saudi Ceramics

3.13.2 Company market share

3.14 PESTEL Analysis

Chapter 4 Storage Water Heater Market, By Capacity

4.1 Storage water heater market share by capacity, 2017 & 2024

4.2

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