The global demand for Electric Water Heater Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Million Units in 2019 and foreseen to touch XX Million Units by 2026 with a CAGR of XX% during 2020-2026.
Electric water heaters are the heating appliances used to heat water for domestic and industrial purposes. In electric water heating, electrical energy is converted into heat energy. Electric water heaters come with storage tanks with one or more electric heating elements, such as resistors. These heaters are safe, simple, and convenient to use. Electric water heaters are energy efficient and do not affect indoor air quality. They are easy to install, long-lasting, require minimum maintenance, and thus cost-effective. Electric water heaters are available with various storage tank capacities.
The prime factors driving the global electric water heater market include growing urbanization, increasing residential and commercial projects, and industrial construction projects. Increasing demand for electric water heaters for domestic applications such as cooking, bathing and cleaning, and commercial applications such as hospitals and hotels contributes to the growth of the market. Many industries are opting for electric heaters to fulfill their need for hot water during production processes resulting in increased demand for the electric heaters. Moreover, factors such as the introduction of innovative products such as instant water heaters, and growing adoption for smart homes are fuelling the market. The COVID19 pandemic is likely to hamper the global market owing to reduced production and disrupted supply chain.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of electric water heater.
The entire Electric Water Heater market has been sub-categorized into product, application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Storage water heaters
- Non-storage/tankless water heaters
This section covers regional segmentation which accentuates on current and future demand for electric water heater market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Electric Water Heater Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the electric water heater market include A.O. Smith, AquaMAX, Ariston, Atwood, Bosch, Bradford White Corporation, Eemax, General Electric (GE), Haier Electronics, Havells, Hubbell, Kenmore, Marey Heater Corp, Racold, Reliance Water Heaters, Rheem Manufacturing Company, State Water Heaters, Stiebel Eltron, Others. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.