What is Water Heaters Market?
Water heaters are a device which is used for heating water. It is widely used in various application such as domestic, commercial, among others. Demand for water heater has increased due to increasing adoption of the water heater in both developed and developing countries. For instance, according to the Government of the United States, In Virginia, the average household spends between USD 200 and USD 500 per year for heating water. Hence, this will, in turn, propel the growth of the water heater market. Therefore, this can be attributed to the growing demand for water heaters market.
The market study is being classified by Type (Conventional Storage Tank Water Heater, Tankless Water Heater, Heat Pump Water Heater, Solar Powered Water Heater, Condensing Water Heater and Others), by Application (Domestic {Flats, Bungalows and Apartments}, Commercial {Hotels, Hospitals, Hostels and Dormitories} and Industrial) and major geographies with country level break-up.
A. O. Smith Corporation (United States), General Electric Company (United States), Bradford White (United States), Rheem Manufacturing Company (United States), Noritz America Corporation (United States), Robert Bosch GmbH (Germany), Rinnai America Corporation (United States), Haier Group Corporation (China), Siemens AG (Germany) and Midea Group Co., Ltd. (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Reliance LP (Canada), Guangdong Chigo Air Conditioning Co. Ltd. (China) and Jain Irrigation Systems Ltd. (India).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Water Heaters market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Water Heaters market by Type, Application and Region.
On the basis of geography, the market of Water Heaters 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Concerns for Energy Efficiency and Increasing Demand for Electric Water Heaters
- Consumer Inclination towards the Adoption of Energy Efficient Systems
Market Trend
- Energy Efficiency Regulations in Various Countries
Restraints
- High Maintenance on Tankless Water Heater
- In Tankless Water Heaters, the Hot Water Flow Rate is limited by the Size of the Unit
Opportunities
- Increasing Number of Pre-Plumbed Unvented System
Challenges
- Issue Related to Life Expectancy of Storage Water Heaters
In June 2015, the Racold Thermo Private Ltd Company has launched water heaters which have the ability to heat water quickly, the product is available in 1, 3 and 6 liters. Hence, this launched will increase the product portfolio of the company.
According to the Federal Government (United States) that, “In 2015, new federal regulations took effect that required water heaters to be more energy efficient. Here’s a recap of the standards, what’s happened since, and what’s in the pipeline going forward”.
Key Target Audience
Water Heaters Manufacturers, Government and Research Organizations, Associations and Industrial Bodies and Others