Home > Megatrends > Water Heater
Water heaters are equipment used to heat and store water depending on the type of the system used. Increasing consumer demand along with government standards for heating equipment drive the higher energy efficiency of the equipment. A variety of tank and tankless water heaters differentiated on the capacity and the type of fuel used define their utilization across numerous applications. The water heater industry experiences a shift on account of mounting demand for smart and energy efficient heating systems, growing dispensable incomes, increasing industrialization and urbanization, and shifting consumer focus toward the replacement of conventional heating equipment. Shift to e-commerce distribution channels post COVID-19 has affected the commercialization of the water heaters, which is further reinforced by the continuous technological advancements comprising integration of a wide variety of innovative features and designs including enhanced control, precise monitoring and smartphone enabled facilities. Robust investments across the private and public sectors in line with ongoing urbanization and ongoing improvements in living standards will accelerate the industry landscape. Growing consumer spending toward energy efficient water heating appliances along with the introduction of IoT enabled, smartphone compatible, smart alert and cloud-based compatibility features in water heaters is positively impacting its adoption among end users.
Continuous industrialization and urbanization across the emerging nations along with stringent government standards and codes is strengthening the product penetration. Ongoing expansion of high-rise buildings along with the development of smart city projects is expanding the demand for new & customized water heating appliances with enhanced safety features across the multi apartments and commercial buildings.
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