Future of the worldwide Electric Water Heaters Market – Growth, Latest Patterns & Forecast 2027

Decreasing temperatures and rising construction projects across some of the major economies of the world have created a potential need for the deployment of Electric Water Heaters across these countries, in turn impelling the growth prospects of the overall electric water heater market over the span of 2020 to 2026. In fact, various homeowners have been laying immense emphasis on adopting electric water heaters in an effort to cut down the carbon pollution levels and energy use by almost 30% to 50%. Supporting this demand, various companies have begun working on the upgradation and commercialization of such advanced electric water heaters that not only suffice the burgeoning consumer needs but are also economic on both the environmental and budgetary fronts.

For instance, a classic pioneer in the production of commercial, industrial, and residential heating solutions- Bradford White Corporation- had in December 2020 announced signing a deal with Bradley Corporation for the acquisition of the assets of Keltech Inc. For the records, Keltech is a potential producer of commercial electric tankless water heaters. As per news reports, this acquisition deal would allow Bradford to expand its range of commercial electric products including electric water heaters to deliver enhanced quality and satisfaction to a wider variety of customers locally as well as globally.

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This apart, rising adoption of these heaters across remote off grid locations in conjugation with expanding use in various commercial establishments such as resorts, hotels, hospitals and others is anticipated to accelerate the product demand over the forecast time frame. It has been estimated that the electric water heater market would foresee an annual installation of about 99 million units by 2026 end, also driven by the ongoing construction of green buildings and intervention of stringent government norms and mandates to replace the traditional units with advanced energy efficient heating systems.

 

A succinct insight into the growth profile of the overall electric water heater market

The global electric water heater market space is divided into various segments including product, capacity, applications, and regional landscape.

 

In terms of the product type, the storage water heater market is poised to generate substantial returns in the upcoming years, perhaps due to the product’s fundamental features spanning lower operation costs, higher mass flow, and effective heating capability. Needless to mention, elevating consumer spending in the real estate sector paired with penetrating refurbishment activities aimed at the development of prevalent building infrastructure would further strengthen the business growth portfolio over the stipulated timeline.

 

Considering the expansive application spectrum, it would be essential to note that the flexible installation with the current electrical circuit aligned with easy repair and maintenance would accentuate the deployment of electric water heaters across prominent residential applications. Moreover, ongoing government programs to support the commercial infrastructure construction activities such as hospitals, airports, and educational institutions would further bolster the growth curve of the market across various countries and continents.

 

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Regionally, Europe is touted to emerge as a pivotal growth ground for the overall electric water heater industry in the ensuing years, driven by the presence of stringent mandates and norms pertaining to the surging carbon emissions coupled with abundant feasibility of gas resources. As a matter of fact, as per the EU Commission, the eco-Design and labeling directives monitor the water level standards in line with the technological developments with respect to smart control heaters. What more has been driving the regional market growth is the proliferating water heating solutions demand on account of extreme climatic conditions across some low-temperature countries like Germany, UK, Italy, and others.

 

Browse key industry insights spread across 500 pages with 1214 market data tables and 40 figures & charts from the report, Electric Water Heater Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/electric-water-heater-market

Report Content

Chapter 3   Electric Water Heater Industry Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Vendor matrix

3.3    Innovation & sustainability

3.3.1    A.O Smith

3.3.2    Vaillant

3.3.3    RHEEM Manufacturing

3.3.4    BOSCH Thermotechnology

3.3.5    Bradford White

3.3.6    State Industries

3.4    Regulatory landscape

3.5.1    North America

3.4.1.1    U.S.

3.4.1.1.1    Department of Energy

3.4.1.1.2    National appliance energy conservation act

3.4.2    Europe

3.4.2.1    Commission Regulation (EU)No 814/2015

3.4.2.2    BNDH EWH02

3.4.2.3    Energy labeling directive 2010/30/EU

3.4.2.4    EED – Energy Efficiency Directive 2012/27/EU

3.4.2.5    Energy performance of buildings

3.4.2.6    Austria

3.4.2.7    Belgium

3.4.2.8    France

3.4.3    Asia Pacific

3.4.3.1    China

3.4.3.1.1    NDRC/AQSIQ/CNCA

3.4.3.1.2    Mandatory labels

3.4.4    Middle East & Africa

3.4.4.1    Saudi Arabia

3.4.4.1.1    Saudi Arabia Energy Efficiency Standards for Electrical Appliances

3.4.4.1.2    Water heaters: (SASO 2884:2017)

3.5    COVID-19 impact on industry outlook, 2020 – 2026

3.5.1    Top 10 countries impacted by COVID-19

3.5.2    Optimistic view

3.5.3    Realistic view

3.5.4    Pessimistic view

3.6    Customer requirement

3.6.1    Customer group requirement

3.6.1.1    Price

3.6.1.2    After-Sales Service

3.6.1.3    Product Accreditation

3.6.1.4    Space Requirement & Size

3.6.1.5    Energy Efficiency

3.7    Entry barriers

3.8    Price trend analysis

3.8.1    Price trend analysis, by application

3.9    Industry impact forces

3.9.1    Growth drivers

3.9.1.1    North America & Latin America

3.9.1.1.1    Growing demand for energy efficient water heaters

3.9.1.1.2    Replacement of conventional water heating technology

3.9.1.2    Europe

3.9.1.2.1    Government mandates pertaining to energy efficiency

3.9.1.2.2    Growing demand for replacement of existing water heaters

3.9.1.3    Asia Pacific & MEA

3.9.1.3.1    Rapid urbanization and advancing product customization

3.9.1.3.2    Increasing demand for energy efficient systems

3.9.1.3.3    Growing electrification rate

3.9.2    Industry pitfalls & challenges

3.9.2.1    High installation cost

3.9.2.2    Availability of counterparts

3.10    Growth potential analysis

3.11    Porter’s analysis

3.12    Competitive landscape, 2019

3.12.1    Strategy dashboard

3.12.1.1    RHEEM Manufacturing

3.12.1.2    BOSCH Thermotechnology

3.12.1.3    A.O Smith

3.12.1.4    Rinnai Corporation

3.12.1.5    Bradford White

3.12.1.6    Ariston Thermo

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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