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The global water heater market size was valued at USD 17,772 million in 2018 and expected to grow at a CAGR of 5.7% during the forecast period. A water heater is an apparatus used for heating and usually storing the water for domestic and commercial application.
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Orion Market Research Global Water Heaters Market, Size, Share, Analysis Report & Forecast to 2025 Request a Free Sample of our Global Water Heaters Market: https://www.omrglobal.com/request- sample/water-heater-market Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 780-304-0404
The global water heater market is anticipated to grow at a CAGR of 5.7% over the forecast period. Water heaters are the extensively used water heating equipment across the globe owing to various factors favoring their adoption. Factors such as cost-effectiveness, easy-availability, compactness and efficiency are the major factors supporting the adoption of water heaters across residential, commercial, and industrial end-use. As per Energy Star, water heating represents between 13% to 17% of national residential energy consumption, making it the third largest energy end user in homes, behind heating and cooling and kitchen appliances in the US. The percentage of energy used for water heating steadily increases as homes become more energy efficient over the period. A full Report of Global Water Heaters Market is Available at: https://www.omrglobal.com/industry- reports/water-heater-market Major factors driving the growth of global water heaters market are government subsidy on energy efficient water heaters and growing adoption of water heaters in industrial and commercial industry over boilers for the same purpose. Government subsidies and incentives have been driving the adoption and installation of water heater especially solar water heaters across the globe. For instance, in 2018, as per Energy Star, the incentives range from $20 to $2,000 both for solar water heaters in the US. Request a Free Sample of our Global Water Heaters Market: https://www.omrglobal.com/request- sample/water-heater-market Moreover, despite the decline in average incentives for heat pump water heater, gas storage water heaters, and commercial water heaters; the average incentives for tankless gas water heaters and solar water heaters increased $246 to $248 and $485 to $519 respectively in the US. However, there are certain factors such as high initial cost and space requirement of solar water heater are hindering the market growth. Besides, increasing adoption of hybrid and solar powered water heater is promising ample opportunity for the market. According to Energy Star, in 2018, the incentives range from $20 to $2,000 both for solar water heaters and heat pump water system in the US. Moreover, the average incentive amount for heat pump water heaters, gas storage water heaters, and commercial water heaters decreased from 2017 ($403 to $388, $165 to $161, and $2,300 to $346, respectively), while the average incentive amount for tankless gas water heaters and solar water heaters increased ($246 to $248 and $485 to $519, respectively) in the US. The average incentive amount for hybrid heat pumps stayed the same at $200. The largest decrease was for commercial water heaters, which declined from an average incentive amount of $2,300 in 2017 to $346 in 2018. The largest increase was for solar water heaters, which increased from an average incentive amount of $485 in 2017 to $519 in 2018 in the US. Current Market Trends Covered in the Global Water Heater Market Report • Based on the energy source, the electricity segment is estimated to hold a dominating market share during the forecast period. Based on the end-user, residential held the largest market share in the global water heater market in 2018. •
• Asia-Pacific is estimated to dominate the global water heater industry during the forecast period. Global Water Heater Market Segmentation By Energy Source • • • • Gas Electricity Hybrid Solar By Mode of Water Supply • • On-Demand or Tankless Storage or Tank By End-User • • • Residential Commercial Industrial Global Water Heater Market – Segment by Region North America • • US Canada Europe • • • • • • Germany UK France Spain Italy Rest of Europe Asia-Pacific • • • • China Japan India Rest of Asia-Pacific Rest of the World
Company Profiles oA.O. Smith Corp. •Ariston Thermo SpA •Atc Electrical and Mechanical Ltd. •Bajaj Electricals Ltd. •Bandini Scaldabagni S.P.A. •Bradford White Corp. •Crompton Greaves Ltd. •General Electric Company •Haier Electronics Group Co., Ltd. •Himin Solar Group Co., Ltd •Hot Water Products Inc. •HTP Comfort Solutions LLC •Jiaxing Jinyi Solar Energy Technology Co, Ltd. •Kanch (Hangzhou) Water Heater Co., Ltd. •Noritz Corp. •Rheem Manufacturing Company Inc. •Rinnai Corp. •Siemens AG •Stiebel Eltron, Inc. •Venus Home Appliances (P) Ltd. •Zhongshan Inse Group Co, Ltd. For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report- customization/water-heater-market About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research- based services. For More Information, Visit Orion Market Research Media Contact: Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 7803040404
