Global Electric Water Heater Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global electric water heater market in its upcoming report titled, “Global Electric Water Heater Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global electric water heater market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global electric water heater market report has been segmented on the basis of product type, end use, capacity, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Heating of water is done for use in various applications. Energy efficient technologies in water heating include condensing gas water heaters, heat pump water heaters, gas and electric tank less systems, combination space/water heaters, and solar water heaters. Electric water heaters are a type of water heaters that use electricity to heat water. These water heaters are most preferred among other type of water heaters globally, and is widely adopted in developed economies.

Rapid industrialization in emerging economies coupled with high adoption of electric water heaters in developed and in some developing economies are major factors driving growth of the global electric water heater market. In addition, growing demand for energy efficient electric water heaters and rising demand for alternative water heating solutions as opposed to traditional sources as biofuel, wood, and coal are other major factors anticipated to boost growth of the global electric water heater market over the forecast period.

However, culture and climatic conditions of a particular region plays a crucial role to decide the type and size of electric water heaters used in households as well as in commercial establishments, which is a major factor restraining growth of the global electric water heater market. Additionally, availability of alternative water heating technologies such as solar, coupled with advancements in solar water heating equipment are other major factors expected to hamper growth of the global electric water heater market over the forecast period.

Currently, the market in Asia Pacific dominates the global electric water heater market in revenue terms owing to widespread adoption of electric water heaters coupled with increasing investments by government and private organizations in infrastructure development in countries in the region. The market in North America accounted for second-highest revenue share in the global electric water heater market, due to high disposable income, followed by markets in Europe, Latin America, and Middle East & Africa respectively. Moreover., the market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to rapid industrialization and growing awareness about use of electric water heaters in emerging economies in the region.

Global electric water heater market segmentation:

By product type:

• Storage Water Heaters
• Non-storage Water Heaters

By end use:

• Residential
• Commercial
• Industrial

By capacity:

• Small water heater
• Medium water heater
• Large water heater

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa