Electric Water Heater Market

Electric Water Heater
Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2016-2026
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Report
Description
Report Description
Water heaters are emerging as technologically advanced and innovative products globally.
Electric water heaters are currently one of the most popular water heaters among consumers
globally. Though the global electric water heater market is moving towards maturity,
continuous innovation on the part of manufacturers is driving the growth in the global
electric water heater market. Water heating includes residential and commercial hot water
systems. Energy efficient technologies in water heating include condensing gas water heaters,
heat pump water heaters, gas and electric tank less systems, combination space/water
heaters and solar water heaters. Water heating consumes 12 percent of residential energy
and approximately 7 percent of commercial energy. Electric water heaters often exceed the
consumption of energy for domestic activities such as cooking, refrigeration and lighting.
Actual energy savings for water heaters depend on family size, heater location, and the size
and placement of water pipes. Electric storage tank water heater is the most commonly used
appliance for heating water. Generally, low income households prefer biofuel, coal and other
sources of energy for heating water, but more wealthy household use electricity. Thus,
middle-income homes are the highest consumers of electricity for heating water. However,
culture and climatic condition of the particular region plays a crucial role to decide the type
and size of electric water heaters used in households as well as in commercial
establishments.
Global Electric Water Heater Market: Drivers & Restraints
The global electric water heater market is anticipated to witness growth owing to increasing
number of residential housing and commercial projects worldwide. Growing demand for
tankless water heaters and rise in disposable income is anticipated to fuel the global electric
Report
Description
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and temperature control over the forecast period are anticipated to accelerate the global
electric water heater market. Growing demand across wide in domestic application such as
cooking, bathing and cleaning, as well as from commercial end use such as hospitals and
hotels may boost electric water heaters market growth. Rising infrastructure investment in
rural areas is expected to open window of opportunity for market players in global electric
water heater market. Electricity shortages and fluctuation coupled with popularity of
alternate fuels such as solar power and adoption of hybrid products may prove to be a
restraint for global electric water heater market growth. Rising electricity prices, changes in
government regulations, and volatile raw material prices are few other challenges faced by
the global electric water heater market. Growth in solar water heater market is being
propelled by government efforts and demand among consumers for energy efficient and
eco-friendly products to be a major threat for global electric heater market over the forecast
period.
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Global Electric Water Heater: Segmentation
•On the basis of product type, the global electric water heater market is segmented into
•Storage Water Heaters
•Non- storage / Tankless Water Heater
•On the basis of end use, the global electric water heater market is segmented into
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Description
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•Residential
•Commercial
•Industrial
•On the basis of capacity, the global electric water heater market is segmented into
•Small water heater
•Medium water heater
•Large water heater
•Global Electric Water Heater Market: Region-wise Outlook
•In terms of geography, the global electric water heater market has been divided in to seven
key regions including North America, Latin America, Eastern Europe, Western Europe, AsiaPacific excluding Japan, Middle East & Africa and Japan. The global electric water heater
market is expected to grow at a steady CAGR with high demand for storage and tankless water
heaters globally. Asia Pacific is anticipated to dominate the global electric water heater market
followed by North America. With increasing investment in infrastructure development, China
and India are expected to be major contributors to drive the demand of electric water heater
market in Asia Pacific region. Growing awareness for automated temperature control, energy
efficiency and environmental sustainability is estimated to favour tankless heaters demand
especially in developed economies. However, increasing government initiatives to improve
rural infrastructure and rising awareness of uninterrupted electricity availability in these areas
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is expected to provide new opportunities to market growth in developing economies.
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Global Electric Water Heater Market: Key Players
Key players in the global electric water heater market include A.O. Smith Corp, General
Electric Co, Midea Group, Rheem Manufacturing Company and Siemens AG. Other prominent
vendors are Ariston Thermo SpA and Hubbell Electric Heater Company.
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