Press release
Grid Interactive Water Heater Market is Expected to Grow at a CAGR of over 5.14% | During 2022-2028 | Vantage Market Research
According to Vantage market research the Global Grid-Interactive Water Heater market was valued at USD 530.21 Million in 2020 and is projected to reach USD 792.96 Million by 2028, growing at a CAGR of 5.14% from 2021 to 2028.
Key Findings and Insights from the report:
• The report presents the estimated CAGR of 5.14% size of the Grid-Interactive Water Heater Market at the end of the forecast period.
• The Global Grid-Interactive Water Heater market is predicted to reach a value of USD 792.96 Million by 2028.
• The report includes an overview of the market, the financial performance of key players its segmentation, its geographical scope.
• The report provides a detailed evaluation of the market by highlighting information on various aspects which include restraints, drivers, opportunities, and threats.
• Insight also covers the price, production, share, and growth rate of these top manufacturers and examines the competitive scenario for a better understanding of the market synopsis.
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The increasing economic benefits with the use of grid-interactive water heater is anticipated to augment the growth of the market in the years to come. According to Rocky Mountain Institute researchers, a non-profit organization in the United States, electric utilities will probably invest approximately $1 trillion in the traditional grid infrastructure over the next 15 years. The use of demand-side flexibility and the ability for demand resources to change throughout the day due to market conditions in the residential sector alone is estimated to be able to save 10-15% of those grid costs. This could cut the customer's electric bill by 10- 40%, and can be accomplished with rate structures and technologies that exist today.
Market Segmentation:
By Product:
• 80 Gallon Capacities
• 100 Gallon Capacities
• 119 Gallon Capacities
• Others
By Application:
• Residential
• Industrial Manufacturing
• Others
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COVID-19 Impact Analysis of Grid-Interactive Water Heater Market:
When the Covid-19 pandemic began in China, it sent shock waves to countries around the world. And as the number of cases continued to rise, it forced governments around the world to take serious action such as border seals, lockdowns and enforce strict social distancing measures to avert imminent catastrophe. These actions had a dramatic effect on the economy, as industrialists around the world were forced to halt their production, leading to supply chain disruptions and the loss of various industries. Thus, a fall in the global markets.
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The Grid-Interactive Water Heater market regional level analysis:
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
• North America (United States, Canada and Mexico)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
• South America (Brazil, Argentina, Colombia, and Rest of South America)
List of Leading Players in the Global Grid-Interactive Water Heater Market:
• Rheem
• Vaughn Thermal
• Steffes
• Dakota Electric Association
• EnergyHub
• HTP (Everlast)
• Great River Energy
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Reason for buying this Grid-Interactive Water Heater market Report:
• The report highlights the macroeconomic forces that are affecting the strategies and policies in the market.
• Report provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
• It provides a six-year forecast assessed on the basis of how the market is predicted to grow
• The report provides market leading players with facts and insights on the Grid-Interactive Water Heater market.
• It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of industry segments.
• Disruption and uncertainties in the industry are studied in the report.
• It provides the key product segments and their future.
• The report identifies bottlenecks and problems associated with businesses operating in the Grid-Interactive Water Heater market and provides possible solutions to those problems.
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