What is Bucket Water Heater?
Bucket water heater is known as convenient heating solution. It is use for wide range of applications and in household procedures. It provides constant heat to keep warm food, water heating. It marinating specific temperature hence it is widely used. It require less storage space hence it is mostly preferred at households. Technological advancements has made this bucket water heater easier and user friendly handling.
The market study is broken down, by Application (Residential, Industrial and Others) and major geographies with country level break-up.
The Market of bucket water heater is witnessing huge demand for residential purpose. Thus, the demand for the bucket water heater has been raised. The market is highly fragmented with the presence of several market players. Owing to market profitability, new entrants are gaining attention with their innovative product offerings which is turn increasing competitive rivalry. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Electric (GE) (United States), Whirlpool (Germany), Havells(United States), Carrier Corporation (United States), State Industries (United States), EcoSmart US (United States), American Water Heaters (United States), STIEBEL ELTRON GmbH & Co. KG (DE) (Germany), Omega(India) and Bajaj (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are SPF Company Limited (Japan) and Shenzhen Superb Heater Technology Co.,Ltd. (China).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Bucket Water Heater market by Type, Application and Region.
On the basis of geography, the market of Bucket Water Heater has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Metal Type, the sub-segment i.e. Copper will boost the Bucket Water Heater market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Source, the sub-segment i.e. Solar will boost the Bucket Water Heater market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Bucket Water Heater market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2020, Stiebel Eltron has acquireed Zimmermann Lüftungs- und Wärmesysteme GmbH & Co. KG. it is one of the prominent producer of electrical heating equipment’s. Company mainly focused on heating in Germany. With this acquisition, company is able to expand its existing portfolio with participating in heating equipment market with special solutions.
Market Trend
- Demand Providing Solar Bucket Water Heater owing to Increasing Awareness regarding Use Solar Energy
Market Drivers
- Rising Demand for Bucket Water Heater for Residential Heating Purpose
- Increasing Preference for Heaters with Less Storage Requirement
- Ease in Installation and Convenient in Use has impacted on the demand for Bucket Water Heater in Positive Manner
Opportunities
- Growing Expenditure & Production of Electrical Equipment’s owing to increasing demand in Asia Pacific Region has Created Growth Opportunity for Market
- Rising Demand for Bucket Water Heater at Animal Husbandry Practises
Restraints
- Limited Efficiency for Large Industrial Procedures
Challenges
- Huge Competition Owing to Presence of Several Market Players
Key Target Audience
Bucket Water Heater Manufacturers, Bucket Water Heater Suppliers/Distributors, Component Suppliers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.