About Domestic Hot Water Storage Tank
A hot water storage tank is a well-insulated tank (or boiler) that is designed to store hot water. Most domestic hot water storage tanks also do the job of heating the water they contain, although in some systems like dedicated solar setups the tanks are used only to store hot water. A storage water heater compromises a ready tank from 20 to 115 gallons of hot water. It functions by releasing hot water from the top of the tank when the hot water tap is turn on. To interchange that hot water, cold water enters the bottom of the tank, guaranteeing that the tank is always full.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Domestic Hot Water Storage Tank market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bosch Thermotechnology (Germany), Viessmann (Germany), Vaillant (Germany), WATTS (United States), Stiebel Eltron (Germany), Rheem (United States), Ait deutschland (Germany), GDTS (Ireland), Reflex Winkelmann (Germany), Akvaterm (Finland), A.O.Smith (United States), Varem Spa (Italy) and Lochinvar (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are CLAGE (Germany), Wolf (Germany) and Radford White (United States).
Segmentation Overview
AMA Research has segmented the market of Global Domestic Hot Water Storage Tank market by and Region.
On the basis of geography, the market of Domestic Hot Water Storage Tank 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, Ireland, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Fuel Sources, the sub-segment i.e. Natural Gas will boost the Domestic Hot Water Storage Tank market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Domestic Hot Water Storage Tank market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Size, the sub-segment i.e. Small [Upto 60 gallon] will boost the Domestic Hot Water Storage Tank market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material Type, the sub-segment i.e. Stainless Steel will boost the Domestic Hot Water Storage Tank market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement and Development in Hot Water Storage Tanks
Market Growth Drivers:
Rising Construction Sector Owing To the Disposable Income and Adoption of Safe Hot Water Tanks
Restraints:
Availability of Tank less Water Heater
Opportunities:
Favorable Government Subsidies are contributing towards the Market Growth and Improved Standard of Living
Market Leaders and their expansionary development strategies
In December 2021, HEH Holdings LLC a third generation privately held company focused solely on water heating and hot water storage systems for the Plumbing industry has acquired RECO USA. The acquisition will increase production capabilities, including large capacity hot water storage tanks.
Key Target Audience
Water Storage Tanks Manufacturers, Government and Research Organizations, Associations and Industrial Bodies and Others
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 a 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 the purpose to understand the companies positioning regarding the 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 a 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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.