Electric Water Heater Market Size, Share, Trends, Regional Analysis and Forecast 2025 | Rinnai Corporation, Bradford White, Groupe Atlantic, Zenith, A.O Smith, Bosch Thermotechnology, Nihon Itomic, Saudi Ceramics, Haier, Hubbell, Jaquar, Ariston Thermo, W
Electric Water Heater Market is predicted to reach over USD 19 billion by 2024. Significant investments toward infrastructure development along with rapid technological advancements in order to achieve energy efficiency will positively impact the business growth. Growing urban population across the emerging economies coupled with upsurge in demand for advanced heaters will stimulate the industry growth.
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The U.S. electric water heater market will surpass USD 1 billion by 2024. Rapid growth across service sector coupled with effective regulatory regime toward the deployment of efficient electrical appliances will augment the industry outlook. Government inclination toward the adoption of energy efficient systems along with upgradation and replacement of existing models with advanced and compact systems will propel the product demand.
Growing investments toward the construction of commercial infrastructure coupled with stringent building codes and standards to ensure energy efficiency will augment the demand for 100-250-liter systems. Industry players across the water heater market are introducing various funding schemes toward the replacement and refurbishment of existing heating systems with an aim to reduce the energy cost and standby losses.
Rapid construction of commercial establishments along with rising demand for hot water to cater the growing service sector will foster the Asia Pacific water heater market growth. Flexible FDI policies and increasing funding activities by private sector companies will offer immense growth prospects for foreign investors. In addition, mass production capabilities and the availability of low-cost labor will further complement the business landscape.
Compatibility with the existing electricity infrastructure along with low maintenance and upfront cost will foster the storage water heater market. User friendly interface coupled with simple designs will make the product favorable for a wide range applications. Storage heating systems can be integrated with the existing electrical network eliminating the need for upgradation, associated with the advanced systems.
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Key industry players operating in the electric water heater market includes Rinnai Corporation, Bradford White, Groupe Atlantic, Zenith, A.O Smith, Bosch Thermotechnology, Nihon Itomic, Saudi Ceramics, Haier, Hubbell, Jaquar, Ariston Thermo, Whirlpool, Viessmann and Vaillant.
Table of content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Electric Water Heater Industry Insights
Chapter 4. Electric Water Heater Market, By Product
Chapter 5. Electric Water Heater Market, By Capacity
Chapter 6 Electric Water Heater Market, By Application
Chapter 7. Electric Water Heater Market, By Region
Chapter 8. Company Profiles
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