Electric Water Heater Market Size to hit $19bn by 2024

Electric Water Heater Market is set to exceed an annual installation of 100 million units by 2024; as reported in the latest study by Global Market Insights, Inc.

Increasing investments toward the development of existing infrastructure coupled with ongoing economic transformation will drive the market growth. Government initiatives toward the adoption of energy efficient heating systems along with shifting trends toward hospitality and tourism sector will complement the market revenue.
 

 

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High end technological advancement along with the growing availability of reliable power supply primarily across the developing regions will foster the electric water heater market share. Increasing expansion of residential and commercial establishments coupled with the rising concerns toward cost reduction will positively enhance the market size. In addition, features including anti corrosion, easy installation and filtration will further complement the market landscape.
 

Europe Electric Water Heater Market Size, By Capacity, 2017 & 2024 (USD Million)
Electric Water Heater Market

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Growing demand for hot water across hotels and others commercial applications will foster the growth of instant electric water heaters. Low energy consumption, greater efficiency than the conventional models and compact design are the key factors that will positively enhance the industry outlook. In addition, longer life span, easily replaceable parts along with low standby losses will further enhance the product adoption.
 

Browse key industry insights spread across 530 pages with 1196 market data tables & 37 figures & charts from the report, “Electric Water Heater Market Size By Product (Instant ,Storage), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military]), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, France, Germany, Italy, Austria, Spain, Netherland, Denmark, Finland, Sweden, Norway, Russia, Belarus, Armenia, Kazakhstan, Kyrgyzstan, Azerbaijan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Singapore, Thailand, New Zealand, Philippines, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Turkey, South Africa, Nigeria, Algeria, Egypt, Israel, Cyprus, Lebanon, Iraq, Brazil, Argentina, Chile), Application Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/electric-water-heater-market
 

Escalating demand for hot water owing to growing service sector along with rapid development of commercial establishments will boost the Asia Pacific electric water heater market growth. Growing investments by private sector companies on account of flexible FDI policies offers commendable opportunities for foreign investors. In addition, availability of low-cost labor and mass production capabilities will further complement the market value.
 

Improving quality standards coupled with increasing consumer awareness to avail the operational benefits of advanced heating systems will foster the residential segment growth. Growing legislative interest toward the adoption of advanced heating solutions along with progressive enforcement of building codes and standards will favour the deployment of these systems.
 

Rising disposable income coupled with significant improvement in living standards will stimulate the demand for low capacity water heaters. In addition, ongoing expansion of real estate sector will augment the market size. Availability in wide range of capacities along with simple designs with user friendly interface will positively influence the market demand.
 

The North America market size will grow at exponential rate during the forecast period. Ongoing regulatory measures toward the installation of efficient heating appliances along with surging growth across service sector will positively influence the market outlook. Refurbishment and upgradation of existing systems along with extreme climatic conditions will stimulate the product demand.
 

Key players across the electric water heater market comprises Rinnai Corporation, Groupe Atlantic, Bradford White, A.O Smith, Bosch Thermotechnology, Zenith, Saudi Ceramics, Nihon Itomic, Haier, Jaquar, Hubbell, Ariston Thermo, Kanch Water Heaters, Whirlpool, Vaillant and Viessmann.
 

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