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Latin America Electric Water Heater Market Trends

Report ID: GMI7257
Published Date: Nov 2023
Report Format: PDF

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Latin America Electric Water Heater Market Trends

Significant development of government strategies & norms across economies to ensure energy efficiency across buildings and other infrastructures along with rising demand for large volumes of hot water across various establishments will augment the industry landscape. Moreover, substantial growth in the e-commerce business along with the key players focusing on growing their distribution networks toward online channels will amplify the product demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of Latin America electric water heater was exceeded USD 7.5 billion in 2022 and will reach more than USD 10.3 billion by 2032, due to the surging need to heat and store water for various domestic uses, such as bathing, cleaning, cooking, and space heating.

Latin America storage electric water heater market size was worth USD 1.2 billion in 2022, driven by the ongoing development of smart cities in line with the higher advancement of low-emission buildings.

Brazil electric water heater industry will witness more than 2.5% CAGR from 2023 to 2032, due to the increasing consumer awareness toward the development of energy-efficient units along with the ongoing government investments in expanding the large manufacturing facilities.

Some of the eminent electric water heater providers in the Latin America are A. O. Smith, Bosch Thermotechnology Corp., Bradford White Corporation, GE Appliances, Midea, Rheem Manufacturing Company, Whirlpool Corporation, and Viessmann.