North America Residential Water Heater Market Trends

North America Residential Water Heater Market Trends

Rapid development and expansion of the real estate industry along with rising investments in R&D activities for product upgradation will positively influence North America residential water heater market share. Growing consumer awareness and shifting customer focus toward new product enhancement coupled with increasing necessity for on demand heating will complement the business outlook. For instance, in 2020, Bradford White introduced its advanced and new product range including water storage and water-space heating products.
 

The adoption of enhanced instant heating systems on account of minimal energy consumption together with compact & simple designs is anticipated to boost the overall industry size. The introduction of innovative smart models, which are cost effective and have high energy efficiency will augment the business dynamics.