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Water Heater Market Trends, Size, Forecast - 2018-2023

08-29-2020 01:56 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Water Heater Market

Water Heater Market

The global water heater market size was valued at USD 17,772 million in 2018 and expected to grow at a CAGR of 5.7% during the forecast period. A water heater is an apparatus used for heating and usually storing the water for domestic and commercial application. Generally, a water heater has a water source unit, a heating device & power source, and a water supply system. The heating device consists of heating coils with which heat is exchanged from coil to water. Factors augmenting the water heater device market is increasing the disposable income of the people along with improving the standard of living.

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Government subsidiaries regarding the energy efficient water heater for the domestic and industrial purpose are also augmenting the market. Increasing commercialization globally especially in emerging economies is also one of the major factors for increasing market. Commercial places such as hotels, hospitals, Spa have a huge application of water heater. Significant commercialization has been observed globally. As per WHO, about 54% population were living in the urban area in 2014 which was only 34% in 1960. The percentage is expected to further go up in upcoming years. It is expected that the global urban population will grow with 1.84% per year from 2015 to 2020 and 1.63% per year from 2020 to 2025.

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Water Heater Market Segmentation

By Energy Source
• Gas
• Electricity
• Hybrid
• Solar

By Mode of Water Supply
• On-Demand or Tank-Less Water Heater
• Storage or Tank Water Heater

By End-User
• Residential
• Commercial
• Industrial

Competitive Landscape
• Key Strategy Analysis
• Key Company Analysis

Regional Analysis
• North American
o United States
o Canada

• Europe
o UK
o Germany
o Italy
o Spain
o France
o RoE

• Asia-Pacific
o India
o China
o Japan
o Rest of Asia-Pacific

• Rest of the World

Company Profiles
• A. O. Smith Corp.
• Ariston Thermo SpA
• Atc Electrical and Mechanical Ltd.
• Bajaj Electricals Ltd.
• Bandini Scaldabagni S.P.A.
• Bradford White Corp.
• Crompton Greaves Ltd.
• General Electric Company
• Haier Electronics Group Co., Ltd.
• Himin Solar Group Co., Ltd

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Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Contact no: +91 780-304-0404

About Us:
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting, and other research-based services.

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