Press release
Global Water Heater Market Trends 2021 | Segmentation, Outlook, Industry Report to 2027
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.Get Free Sample Copy @ https://www.omrglobal.com/request-sample/water-heater-market
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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Rising adoption of solar water heater is a significant opportunity for augmenting the solar heater market. The cost of heated water is very less compared to other water heaters. However, the solar water heater has a comparatively high installation cost and requires more space for installing the solar panels. Less penetration in developing and under-developed economies is also one of the major factors restraining the market.
Market Segmentation
Global Water Heater Market by Energy Source
• Gas
• Electricity
• Hybrid
• Solar
Global Water Heater by Mode of Water Supply
• On-Demand or Tank-Less Water Heater
• Storage or Tank Water Heater
Global Water Heater Market by End-User
• Residential
• Commercial
• Industrial
Competitive Landscape
• Key Strategy Analysis
• Key Company Analysis
Regional Analysis
North American
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• RoE
Asia-Pacific
• India
• China
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• 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
• Hot Water Products Inc.
• HTP Comfort Solutions LLC
• Jiaxing Jinyi Solar Energy Technology Co, Ltd.
• Kanch (Hangzhou) Water Heater Co., Ltd.
• Noritz Corp.
• Rheem Manufacturing Company Inc.
• Rinnai Corp.
• Siemens AG
• Stiebel Eltron, Inc.
• Venus Home Appliances (P) Ltd.
• Zhongshan Inse Group Co, Ltd.
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Contact person: Mr. Anurag Tiwari
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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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