Water Heater Market Research Report by Size, Growth, Trends | Key players are Viessmann, Rinnai, A.O Smith, Rheem Manufacturing

This is a professional and in-depth study on the current state of the Water Heater Market. Report initially provides a basic overview of the industry that covers definition, applications and manufacturing technology, post which the report explores into the international players in the market.

Water heating technologies have increasingly found their way into majority of residential as well as commercial establishments over the past several years. The popularity of water heaters has increased dramatically, mainly due to growing consumer preference for on-demand instant hot water supply.

A.O. Smith, Whirlpool, Rheem Manufacturing, Bradford White Corporation, and Bosch Thermotechnology are among the leading manufacturers of water heaters. These companies are adopting collaboration strategies to expand their market presence and gain a competitive edge.

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For instance, A.O. Smith had partnered with a digital products and services agency to expand its digital presence. The agency will help build A.O. Smith’s social presence and boost its market penetration and consumer engagement through strategic planning and innovative solutions.

• Growing demand across residential applications
In terms of the applications, water heaters are poised to experience a robust demand across the residential sector. With a notable uptick in household income levels, consumers are sending significantly on premium home appliances to suit their urban lifestyles. These trends have led to an increased demand for instant, low power consumption water heaters. Additionally, growing adoption of water heaters across remote off-grid locations will propel the industry outlook.
Respective governments, mainly in emerging economies are actively investing on the development of green and sustainable infrastructure and smart spaces. Governments have also introduced several energy-efficiency standards to promote environmental sustainability. These trends along with surging demand for water heaters, particularly in regions with extreme temperatures, will complement the industry outlook.

• Favorable government and regulatory policies
Governments and regulatory bodies in many regions have also enforced strict norms regarding the replacement of conventional water heaters with energy-efficient systems across both residential and commercial sector. In the hospitality sector, water heating systems are predominantly used in hotels and resorts. Furthermore, growing investments in the retail sector will propel the product penetration in the forthcoming years.

Rapid growth in urbanization over the past few years has resulted in the expansion of residential and commercial sector. Respective governments are also focusing on the refurbishment of existing infrastructure. In order to comply with energy-efficiency standards, water heater manufacturers are anticipated to invest in research and development and product innovation to produce low power consumption water heaters.

• Europe to emerge as a key revenue pocket
From a regional perspective, Europe water heater market size is slated to record notable growth through 2026. This growth can be mainly associated with the presence of a strict regulatory framework pertaining to carbon emissions. Numerous eco-design, labelling directives and water level standards introduced by the European Commission are influencing technological advancements in smart water heaters.
European countries experience extreme climatic conditions throughout the year. This, along with unpredictable changes in climate will certainly boost the demand for seasonal heating. Local manufacturers are bound to witness lucrative opportunities in the upcoming years due to abundant availability of natural gas resources in European countries.

Partial Table of Contents (ToC) of the report:
Chapter 5 Global Water Heater Market, By Capacity
5.1 Global water heater market by capacity, 2019 & 2026
5.2 400 litres, by region, 2015 - 2026

Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/water-heater-market

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