Water Heater Market 2022 Driving Factors Forecast Research 2028

The global market for the water heater is projected to have a CAGR of around 5.7% during the forecast period. Factors augmenting the water heater market is increasing the disposable income of the people along with improving the standard of living in emerging economies. Along with that government subsidiaries regarding the energy-efficient water heater for the domestic and industrial purpose is also propelling the market. The growing application of water heater in commercial sectors such as hotels, hospitals, Spa has a significant application of water heater. The rising adoption of solar water heater is further projected to create ample opportunity for to solar heater market in the near future. 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.

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The Covid-19 has disrupted the global water heater market. To maintain the social distancing norms and to curb the spread of COVID-19, most of the economies across the globe implemented lockdown, which has negatively affected the supply chain of materials and production of the water heater due to the shortage of labour and shut down of transportation & logistics hence the market has registered the decline during COVID outbreak. The market growth is majorly impacted by the economies such as China and India as these economies have most of the cases and log period lockdown. China is the major economies with the largest energy consumption. The disruption in electronics manufacturing and reduced spending in the upcoming projects also hampers the market growth in China during the lockdown. Post Covid-19, the market is expected to regain its momentum with the gradual decline in cases and rising consumer demand for HVAC equipment. The market will witness "L" shape recovery in near future owing to the restart of key industries in major economies.

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• Market Coverage
• Market number available for - 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Water Heater Market, By Energy Source
o Gas
o Electricity
o Hybrid
o Solar

Global Water Heater Market, By Mode of Water Supply
o On-Demand or Tank-Less
o Storage or Tank Water Heater

Global Water Heater Market, By End-User
o Residential
o Commercial
o Industrial

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Russia
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World
o Latin America
o Middle East Africa

Company Profiles
o Ariston Thermo SpA
o ATC Electrical and Mechanical, Ltd .
o Bajaj Electricals Ltd.
o Bradford White Corp.
o Ferroli Ltd.
o General Electric Co.
o Haier Group
o Himin Solar Co., Ltd
o Hot Water Products Inc.
o Jinyi Solar Ltd.
o KANCH (HANGZHOU) WATER HEATER CO., LTD.
o NORITZ Corp.
o Rheem Manufacturing Company, Inc .
o Rinnai America Corp.
o Robert Bosch GmbH
o Siemens AG
o Stiebel Eltron, Inc.
o Venus Home Appliances (P) Ltd.
o Vaillant Group
o Whirlpool Corp.

The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global water heater market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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