Electric Water Heater Market (By Product: Instant, Storage; By Capacity: <30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters; By Application: Residential, Commercial [College/University, Offices, Government/Military, Others]) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global electric water heater market size is projected to reach around US$ 22,000 Mn by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027.

The heater is an electrical device with various purposes used to heat water. There are many kinds of water heaters, including electric poles, used in houses, solar heaters and storage. Energy performance, small design and water heaters are main features. The electric water heater has become more common for home use. In several industrial sectors water heaters are combined with solar and geothermal technologies. Any of the most common hot water heaters are dipping heaters, instant heaters, heaters, gas heaters, solar, pump heaters and others.

Market Insights

The rising global residential infrastructure helps electric heater players on the market to expand their respective portfolio of products to attract a wide variety of customers. The metropolitan community has a strong understanding of the advantages and deployment of electrical water heaters, which thus grows continuously and provides the electric water heaters market with revenue growth. In the near future, the market for electric water heaters will increase in the residential sector with the increasing migration from rural to urban areas in different countries. The urban displacement trend is therefore a primary impact trend during the forecast period for the electric heating industry.

Water heaters enable heat capacity to be maximized with allows of hot water storage tanks. Manufacturers offer heaters in different sizes according to customer specifications. The construction of heaters is less expensive, as they are easier to manage as restore than various water heaters. Storage heaters are likely to explode, and vendors focus frequently on water heating facilities. In addition, storage heaters need tank capacity; thus, the manufacturers depend on reducing storage heater measurements to minimize the room issue. The modern heaters used to store fuel oil and natural gas has gained significant popularity in recent years. Storage heaters are likely to explode, and vendors are focusing frequently on water heating facilities. In addition, storage heaters need tank capacity; thus, the manufacturers depend on reducing storage heater measurements to minimize the room issue. The modern heaters used to store fuel oil and natural gas have gained significant popularity in recent years.

Report coverage

The market research study on “Electric Water Heater Market (By Product: Instant, Storage; By Capacity: <30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters; By Application: Residential, Commercial (College/University, Offices, Government/Military, Others)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global electric water heater market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global electric water heater market are product, capacity, application and major geographic regions. The electric water heater market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.

High demand for storage and tankless water heater are the major factor likely to drive the growth of global electric water heater market at a steady CAGR. Asia Pacific has contributed the significant growth and also anticipated to dominate the global electric water heater market during forecast period. Asia Pacific market is followed by North America. China and India are expected to be major players in driving the market for electric water heater in the Asia Pacific region, with growing investments in infrastructure growth. The growing awareness of automatic temperature sensors, energy conservation and environmental protection in developing economies is expected to benefit tankless heaters in general. However, further government policies are needed to create new business development prospects in emerging countries to improve rural connectivity and to increase awareness of uninterrupted supply of electricity in those regions.

Key Players

Major players included in this report Bosch Thermotechnology, Haier Electronics, General Electric Appliances, Ariston Thermo, A.O. Smith, Racold, Bradford White, Rinnai Corporation, State Water Heaters, Rheem Manufacturing, Whirlpool Corporation, Vaillant Group, Havells India, Ferroli, Hubbell, Nihon Itomic, Watts Water Technologies, Viessmann Group, Stiebel Eltron, and others.

The global electric water heater market is segmented as below:

Market Segmentation

Electric Water Heater Market By Product

• Instant
• Storage

Electric Water Heater Market By Capacity

• <30 Liters
• 30-100 Liters
• 100-250 Liters
• 250-400 Liters
• >400 Liters

Electric Water Heater Market By Application

Residential

Commercial

• College/University
• Offices
• Government/Military
• Others

Electric Water Heater Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa