Electric Water Heater Market By Type (Storage Tank, Tankless Electric Water Heaters), End User (Residential, Commercial, Industrial) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

The market for electric water heaters is poised to witness steady growth during the forecast period with the construction and real estate sector regaining its original growth levels post economic recession. Government regulations promoting energy efficient solutions coupled with the growing preference for tankless water heaters are expected to drive the demand for new electric water heater installations in the coming years. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.3% during the forecast period 2015 – 2022. However, rising electricity prices and growing preference for solar water heaters may pose challenge to the market growth during the forecast period. In addition, high operating costs of the electric water heaters as compared to gas operated water heaters has somewhat deterred swift adoption of electric water heaters across the globe. The electric water heater market is expected to exceed US$ 29.1 Bn by 2022, expanding at a Compound Annual Growth Rate of 7.3% between 2015 and 2022.

Electric Water Heater Market
 

1.1    Report Scope

This report analyzes the global electric water heater market in terms of product type, end-use application, and geographical distribution. On the basis of product type, the market is segmented into storage tank electric heaters and tankless (on-demand) electric water heaters. Similarly, on the basis of end-use, the global electric water heaters market is further classified into industrial, residential, and commercial segments. The geographical distribution of the global electric water heater market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

1.2    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global Electric Water Heater Market- Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global electric heater industry.

Target Audience

  • Industry Investors
  • Electric Heater Manufacturers
  • Electric Heater Distributors
  • HVAC Manufacturers
  • Component Manufacturers
  • End-users

USP and Key Offerings

The report titled “Global Electric Water Heater Market- Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022” offers strategic insights into the global electric water heater market along with the market size and estimates for the duration 2013 to 2022. The said research study covers in-depth analysis of multiple market segments based on product types, end-use applications, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading electric water heater manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the electric water heater market
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Ecosystem Analysis
  • Two Year Trailing Data (2013 – 2014)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global electric water heater market, offering market size and estimates for the period from 2015 to 2022, keeping in mind the above mentioned factors.

On the basis of end-use, the electric water heater market is categorized into following segments:

  • Residential
  • Commercial
  • Industrial

The following figure represents contribution of different end-use segments to the global electric water heater market in 2014 and 2022.

Electric Water Heater Market
    

In the base year of 2014, the residential segment covering electric water heaters used for cooking, space heating, bathing, and cleaning at residential units accounted for the majority of the global market revenue share. The segment also accounted for over two third of the electric water heater shipments worldwide. The electric water heaters used for residential use are highly insulated to reduce the prominent standby losses arising due to irregular use of these heaters. The ever rising population resulting in increased number of residential units, especially in the emerging economies is expected to drive demand for electric water heaters in the residential segment. On the other hand, commercial and industrial end-use segments are expected to witness robust growth over the forecast period 2015 - 2022. The commercial segment covers electric water heaters used in commercial complex’s, restaurants, hotels, business buildings, and schools among others. The economic development resulting in the growth of commercial real estate is expected to drive demand for electric water heaters in the commercial segment. The replacement demand is expected to be higher than the new demand, especially in the developed economies like North America and Europe.

On the basis of geography, the global electric water heater market is segmented into following regions and countries.

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • Indian Subcontinent
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East and Africa


Electric Water Heater Market
 

In the base year of 2014, Asia Pacific was the largest electric water heater market, accounting for over 40 percent of the global market revenue. China was the largest and the most lucrative individual electric water heater market in Asia Pacific. Over the forecast period 2015 – 2022, the trend is expected to continue, with the region retaining its dominant position. The growth in the region is majorly on account of the economic development ensuing infrastructural growth in both residential and commercial spaces. Thus, increasing number of residential and commercial projects, especially in China and India are expected to trigger new installations in the region. In addition, government initiatives to improve energy infrastructure, especially in the rural areas is expected to have positive impact on the market demand. The demand for electric water heaters in developed economies like North America and Europe is expected to remain fairly steady, supported by the escalating demand for tank-less electric water heaters.

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Published Date:  Oct 2016
Category:  Semiconductor & Electronics
Report ID:   57806
Report Format:   PDF
Pages:   120
Rating:    4.5 (69)
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