Global Water Heater Market Conservatively Projected to Garner US$ 52.8 Billion

New York, NY — 01/12/2018 — According to the latest market report published by Persistence Market Research, titled “Global Market Study on Water Heater Market: Increased Product Visibility Has Resulted in Increasing Demand for Energy-efficient Water Heaters in the Recent Past,” the water heater market is estimated to be valued at US$ 39.5 Bn by the end of 2015 and is anticipated to expand at a CAGR of 4.9% from 2015 to 2021. Also, in terms of volume, around 68.8 Mn water heater units are expected to be installed by 2015 end across the globe, with the overall market anticipated to expand at a CAGR of 4.6% during the forecast period.

Hot water is an essential part of day to day living. It is required for showering, washing clothes, and other purposes, such as for hydronic heating and thermal comfort, especially in extremely cold climate regions and countries. Appliances supplying hot water for residential and commercial purposes include boilers, Heating, Ventilating, and Air Conditioning (HVAC) systems, and water heaters.

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Expanding manufacturing and construction industry, increasing urbanization, and rise in strategic alliances by various players to leverage market opportunity are factors driving the growth of the global water heater market currently. Also, increasing demand for continuous hot water supply is prompting manufacturers to focus on delivering energy efficient and low maintenance water heater products. However, factors such as high installation costs, increasing focus on compliance of standards, and fuel demand dynamics are restricting the growth of the overall water heaters market currently.

Global water heaters market is segmented on the basis of product types, storage types, and end use regions. Product type segments include solar heaters, electric heaters, gas & propane heaters, and geothermal water heaters. Of these, the electric heaters segment is expected to dominate the market in terms of value share contribution by 2021 end and is expected to expand at the highest CAGR over the forecast period (2015–2021). In terms of volume, the gas and propane heaters segment is expected to account for a significant market share during the forecast period.

Key market players profiled in this report include Venus Home Appliances Private Ltd., AO Smith Corporation, Rheem Manufacturing Co., Siemens AG., Ariston Thermo SPA. Bajaj Electricals Ltd., Bradford White Corp., Haier Electronics Group Co., Ltd., HTP Inc., Noritz Corp. and Rinnai Corp. In addition, China-based manufacturers covered in the report include Zhejiang KANCHQUAN Electric Appliance Co., Ltd, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Genrui, Himin Solar Co., Ltd, and Zhongshan Inse Group Co, Ltd.

Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/market-research/water-heater-market/toc

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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