Press release
What's Driving The Water Heater Market Growth? A.O. Smith, Ariston Thermo, Bosch Thermotechnology, Bradford White Corporation, General Electric Appliances, Haier Electronics, Vaillant Group
Water Heater Market
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The size of Water Heater Market was registered at 22.26 Billion (USD) in the year 2019 and is anticipated to cross USD 29 billion by 2026. Between the period 2020-2026, the Water Heater Market is expected to register a CAGR of 4.2%.
Key Players OF Water Heater Market:
o A.O. Smith
o Ariston Thermo
o Bosch Thermotechnology
o Bradford White Corporation
o General Electric Appliances
o Haier Electronics
o Racold
o Rheem Manufacturing
o Whirlpool Corporation
o Rinnai Corporation
o State Water Heaters
o Ferroli
o Lennox
o HTP Comfort Solutions
o BDR Thermea Group
o Havells India Limited
o Westinghouse Electric Corporation
o American Standard Water Heaters
o Vaillant Group
o Noritz Corporation
Water heater industry share can be segmented into natural gas and LPG based on fuel. The natural gas segment is poised to record substantial gains due to advantages such as efficient heating capability, excellent mass flow and comparatively lower operation cost. In addition, the product comes with a bunch of features that enable users to control functions such as temperature, ignition, and gas flow.
Growth Drivers:
o North America & Latin America:
o Growing demand for energy efficient water heaters
o Replacement of conventional water heating systems
o Europe
o Government mandates pertaining to energy efficiency
o Growing demand for replacement of existing water heaters
o Asia Pacific
o Rapid urbanization and advancing product customization
o Increasing demand for water heating systems
o Middle East & Africa
o Advancing technology coupled with rising emission standards
The product finds extensive application in hotels and resorts on account of their superior mass flow. Strict regulatory guidelines pertaining to the safety during product installation and placement of vent pipes may hamper the product demand up to certain extent. However, growing adoption across remote off-grid regions will bolster the industry outlook in the coming years.
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On the basis of product, water heater market share is classified into instant and storage. Instant water heating technologies are anticipated to experience increasing adoption over the next few years. This can be attributed to the robust demand for efficient water heating systems with lower power consumption and lower costs. Considerably lower standby losses along with growing installation of instant water heating technologies across commercial settings such as offices and hospitals to address the hot water demands of consumers will complement water heater industry landscape in the near future.
Water heater market share can be bifurcated into residential and commercial applications. Residential application is expected to gain traction in the coming years due to increasing investments in the retail sector along with the development of new and refurbishment of existing infrastructure. Respective governments are spending heavily on the construction of smart spaces and green infrastructure which will comprehensively foster the business growth across residential applications. Dedicated investments in R&D to introduce new and innovative technologies to meet the ever-growing demand for energy-efficient water heaters will boost the industry scope.
Table Of Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates and 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 Global water heater industry 3600 synopsis, 2015 - 2026
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Capacity trends
2.1.4 Application trends
2.1.5 Fuel trends
2.1.6 Regional trends
Read More About Water Heater Market At: https://www.globenewswire.com/news-release/2020/01/22/1973484/0/en/Water-Heater-Market-revenue-to-hit-29-billion-by-2026-Says-Global-Market-Insights-Inc.html
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