A water heater is a piece of equipment that turns electricity into heat power by using heating elements to raise the temperature of water via conduction. Electric water heaters are employed in both tank and tankless product types, and the market analysis provides a full review of these categories. The market offers comprehensive information on the use of electric water heaters in residential, commercial, and industrial applications.
The growth of the global water heater market is driven by rise in demand for hot water from various application in residential, commercial and industrial sectors. However, implementation of stringent government regulations toward highly efficient heating equipment and rapid growth of solar water heating industry are the key factors hampering the growth of the electric water heater market. On the contrary, rapid transition from conventional water heating equipment such as boilers, burners and others to electric water heater installations is anticipated to provide lucrative growth opportunities for the key players manufacture highly efficient electric water heaters to maintain the position in the market during the forecast period.
The water heater market is segmented into product type, capacity, end user and region. Depending on product type, the market is bifurcated into tank and tankless. On the basis of capacity, it is categorized into less than 100 liters, 100 to 400 liters, and more than 400 liters. The end users covered in the study include residential, commercial and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global water heater market are A. O. Smith Corporation, Zhongshan Inse Group Co, Ltd., Haier Electronics Group Co., Ltd., Himin Solar Co., Ltd., Ariston Thermo Group, Genrui, Bajaj Electricals Ltd., Rheem Manufacturing Company, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Noritz Corporation, SIEMENS AG, Bradford White Corp., and Venus Home Appliances (P) Ltd.
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