Storage Water Heater Market size to exceed $9.6bn by 2026

Storage Water Heater Market size is projected to surpass USD 9.6 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.

Expansion of the real estate sector along with rapid development of government funded green building projects will drive the storage water heater market growth. Increasing construction of high rise buildings, strict building efficiency codes & standards and regulatory provisions to deploy the electrical appliances will positively foster the industry outlook. In 2017, the government of Canada announced the onset of the eco ENERGY program to accelerate the adoption of energy efficient heating systems.


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Rapid expansion of building infrastructure driving the storage water heater demand

Widespread adoption of unvented pre-plumbed systems across the construction industry coupled with development of smart cities will foster the industry growth. Growing service sector along with enhanced manufacturing capabilities is set to complement the industry landscape. In addition, product differentiation on account of incorporation of advance features comprising Wi-Fi integration and remote control & management will influence the product adoption.

Accelerating demand owing to growing investments from the government authorities

Ongoing government measures to invest and support the existing businesses along with incentives toward reinforcement of the commercial infrastructure will fuel the growth across the Asia Pacific market. Growing disposable incomes coupled with improved standards of living will accelerate the product adoption. Introduction of flexible FDI policies coupled with government support provide opportunities for the investors thereby complementing the business scenario.

Browse key industry insights spread across 1019 pages with 2000 market data tables & 38 figures & charts from the report, “Storage Water Heater Market Size By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military]), By Energy Source (Electric, Gas {Natural gas, LPG}) 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, 2020 - 2026”in detail along with the table of contents:

Technological advancements and product differentiation will stimulate the water heater demand

Technological integration toward flexible and hybrid heating systems coupled with growing competition amongst the key industry players will drive storage water heater market size. Simple design, low upfront cost, easy maintenance along with availability of the product in wide capacity range are the primary factors which will encourage the adoption of advanced technologies. Replacement of conventional storage heaters to comply with strict industry codes along with widespread deployment of tankless units and gas storage will influence the product demand.

Proclivity toward energy efficient appliances and surging demand for hot water to boost the water heater adoption

Incessant hot water requirement across commercial sector including hotels, healthcare, offices, shopping complexes, public buildings & universities is set to influence the product adoption. Growing consumer awareness toward energy efficient appliances on account of efficient performance, low carbon footprint and high energy factor compared to its counterparts will accelerate the product installations. In addition, product innovation with availability of variants of electric and gas water heaters suitable for various customer requirements will complement the industry growth.

Presence of major water heater manufacturers will drive the North America market growth

North America storage water heater market will witness significant deployment owing to key industry players including Bradford White and Rheem among others. The manufacturers compete on product differentiation & innovation increasing the customer base. In addition, replacement & upgradation of existing models with compact equipment along with systems availability with attractive designs & features will strengthen the product demand.

Eminent players operating in storage water heater market consist of A.O Smith, Viessmann Group, Ariston Thermo, Rinnai Corporation, Bradford White, Jaquar, Vaillant Group, Bosch Thermotechnology, Ferroli, Whirlpool, Linuo Ritter, State Industries, Hubbell, Saudi Ceramics among others. Increasing competition with product modernization and introduction of advance technologies is set to augment the business scenario.

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