Crystal Market Research adds “Electric Water Heaters Market – 2018 Global Analysis, Growth, Trends and Opportunities Research Report forecasting to 2022” reports to its database.
Industry Trend Analysis:
In 2012, the global Electric Water Heaters Market was valued around USD 14.67 billion and is anticipated to reach approximately USD 31.36 billion by 2022 while maintaining a compound annual growth rate (CAGR) of 7.08% during the forecast period owing to rising residential housing projects across the world. Rising tank less water heaters demand and increasing disposable earnings is expected to fuel the growth of the global market. Factors like temperature control across longer period, energy efficiency, and enhanced environmental sustainability are projected to boost the products demand. Rising demand for wide household applications like cleaning, bathing, and cooking, plus from commercial areas like hotels and hospital may drive the growth of global electric water heaters market. Enhanced infrastructure in rural regions is expected to unlock a new opportunity for industry participants. The electric water heaters market is distinguished by amplified energy efficiency, safety awareness, and quality standards. Electricity fluctuation and shortages might hamper the global market growth. Rising preference for alternative fuels like solar power as well as acceptance of hybrid products might act as restraining factors for growth of global market during the forecast period. Hybrid water heater functions on over two energy sources thus rendering switching choice to users. Volatile raw material prices, Increasing electricity prices, and changes in government policies are anticipated to hinder the market demand.
Competitive Outlook and Trend Analysis:
Major market players in global electric water heaters market are AquaMax, A. O. Smith Corporation, Ariston Thermo (Racold), Bradford White Corporation, Bosch, Eemax, Rheem Manufacturing Company, General Electric, Zenith, and Havells. Global electric water heater industry share is widely fused and the three leading market players report for over 90% of the global market share. Midea Group, AO Smith, and Haier Appliances have considerable market share in Chinese market. In addition, there are several other state-owned and private companies present in China. Racold is probably the major player in India; it is followed by Bajaj, AO Smith, Venus, Haier, and Havells. Initiatives to invest more for R&D activities will allow market participants to present superior product features. Besides, key market players are also launching new processes and products in an attempt to achieve competitive benefit.
Regional Outlook and Trend Analysis:
Asia Pacific region is expected to be the major regional market during the projected period due to developing markets like India and China. The North American electric water heaters regional market is likely to experience growth mainly owing to rising demand for replacement. The correction to the National Energy Conservation Act during April 2015 and strict energy efficiency standards might hamper the growth of North American market.
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The global electric water heaters market is segmented as follows :
By Product: Storage & Non-Storage
By Application: Residential & Commercial
By Region: North America: (U.S, Canada & Mexico), Europe: (Germany, France, UK, Italy, Spain & Rest of Europe), Asia-Pacific: (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) and Rest of the World: (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates & Others)
Product Outlook and Trend Analysis:
The global electric water heaters industry is progressively shifting towards tank less from storage products. Though, storage is still anticipated to be the major product section during the projected period. Electric water heaters with storage are growingly being utilized in regions where availability of electricity is inadequate, which facilitates uninterrupted hot water availability in these areas. Tank less water heaters do not have any storage space; they supply hot water on demand by heating water simultaneously. These tanks use attached water stream triggered switch that switches on the heating system that includes the heat exchanger. The heat exchanger is generally constituted of an electric heating coil. The product efficiency is calculated in terms of an amount of hot water rendered per minute. As précised by U.S. Department of Energy (DOE), water heaters are ranked by the highest achievable temperature rise at a specified flow rate.
Application Outlook and Trend Analysis:
Residential applications segment involve bathing, cooking, cleaning, and space heating. The residential segment is expected to continue to be a major application during the forecast years. This section includes products that range from 120V to 240V. Single phase 120V water heater with 2.7 gallons of capacity is used commonly as under sink attachments for washing out sinks owing to low capacity necessities. The commercial water heaters are employed in places of apartment houses, business, hospitals, commercial buildings, and hotels. Rising commercial development like schools, hotels, restaurants, etc. might fuel the growth of the electric water heaters market.
Electric Water Heaters Market:
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Major ToC of Electric Water Heaters Market:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Rising Residential and Commercial Projects
3.2.1.2. Increasing Disposable Income
3.2.2. Restraints
3.2.2.1. High Cost of Operation
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth Opportunities
…CONTINUED FOR TOC
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