Global Electric Water Heater Market to surpass $33.2bn by 2024 - PowerPoint PPT Presentation

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Global Electric Water Heater Market to surpass $33.2bn by 2024


Request Sample of Report @ Electric water heating is a thermodynamic process operating on electric energy to heat water above its initial temperature. Domestic uses of hot water include cleaning, cooking and bathing. Hot water heaters, heat exchangers, boilers, hot water tanks, geysers and calorifiers are appliances for containing and providing supply of hot water. It is a process in which electric energy is converted into heat. – PowerPoint PPT presentation

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Title: Global Electric Water Heater Market to surpass $33.2bn by 2024

Global Electric Water Heater Market to surpass
33.2bn by 2024
Fuel Cell Market size worth 25.5bn by 2024
Key Insights of Electric Water Heater Market
  • Global awareness regarding limited fuel supply
    has stimulated the demand for electric-powered
    alternatives. Electric water heater market will
    observe a lucrative upsurge over the next few
    years, primarily driven by the increasing growing
    product demand across the household, medical, and
    hospitality sectors. Electric heaters provide an
    edge over traditional fuel-based heaters in terms
    of costs, product design, and shelf life.
    Additionally, these heaters can be efficiently
    installed pertaining to space conditioning loads
    and require lesser maintenance, which will propel
    electric water heater industry, set to grow at an
    annual rate of 7.5 over 2016-2024.
  • Electric water heaters function on the principle
    of thermodynamics and are massively utilized
    across domestic applications such as cleaning,
    cooking, space heating, and bathing. These
    heaters are available in a variety of appliances
    such as heat exchangers, geysers, hot water
    heaters, hot water tanks, and boilers, many of
    which are deployed on a large scale across the
    hospitality, healthcare, and construction
    sectors. Electric water heater market share from
    commercial applications is forecast to exhibit
    tremendous growth over the next few years, driven
    by the surging demand from hotels, medical
    centers, office buildings, hostels, and academic

  • Residential applications dominated the
    application landscape in 2015, having accounted
    for more than 85 of the overall electric water
    heater industry share. Electric water heaters
    falling between the range of 120 V to 240 V are
    extensively used for applications such as
    cooking, laundry, and bathing. With the
    exponential growth of the construction sector,
    electric water heater market from residential
    applications will observe a CAGR of 6.9 over
  • Asia Pacific accounted for more than 28 of the
    global consumption in 2015, primarily driven by
    the high product demand from India and China.
    Increased preference toward water heaters as
    opposed to gas heaters and the surging product
    requirement across the region will propel Asia
    Pacific electric water heater market, which is
    slated to grow at a CAGR of 10.7 over 2016-2024.
    China, India, and Japan are anticipated to the
    major revenue pockets.
  • Powered by the ever-growing demand across the
    residential and commercial sectors, U.S. electric
    water heater industry will cross a revenue of USD
    5.5. billion by 2024. U.S. had maximum
    contribution in North America electric water
    heater market in 2015. This trend is foreseen to
    continue over 2016-2024, owing to rising
    investments across the residential and commercial

India Electric Water Heaters Market share, by
product, 2013-2024 (Million Units)


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Water Heater Market _at_ http// Req
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  • Electric water heater market is quite
    consolidated, with the top three companies
    contributing to more than 90 of the total share.
    Companies are focusing on strengthening their
    regional presence, primarily through RD
    activities. Corporations such as Ariston Thermo,
    Bajaj, AO Smith, Havells, Venus, and Haier have a
    rather significant share in India electric water
    heater industry. Likewise, AO Smith, Haier, and
    Midea Group accumulate a major share in China
    electric water heater market. Eemax, General
    Electric, AO Smith Corporation, Havells, Bradford
    White Corporation, Zenith, AquaMax, Bosch,
    Ariston Thermo, and Rheem Manufacturing Company
    are the key players operating in global electric
    water heater industry.
  • Leading companies are also concentrating on
    product differentiation to score a competitive
    edge over their rivals in the business. For
    instance, as of 2017, Haier Appliances launched a
    premium electric water heater in India that is
    integrated with shock-proof technology. This
    heater can provide protection against electricity
    issues such as power leakage, earthing, or
    incorrect wiring. Other players are also engaged
    in the manufacturing of products integrated with
    cutting edge technology, thus fueling global
    electric water heater market. Storage-based
    electric water heaters are primarily used in
    areas that are infamous for power cuts of limited
    power supply.

  • Having held a revenue of USD 11.6 billion in
    2015, storage-based electric water heater
    industry is set to grow at an annual growth rate
    of 6.8 over 2016-2024, driven by the products
    increased requirement across residential
  • Non-storage-based or tankless electric water
    heaters immediately heat the water that flows
    through the device that is to say, no water is
    preserved unlike the storage-based counterparts,
    except the amount required by the internal coil.
    Non-storage-based electric water heater market is
    anticipated to grow at a CAGR of 8.7 over
    2016-2024, driven by the high product adoption
    subject to rising consumer incomes and the
    requirement of periodic upgradations.
  • Electric water heaters are designed to eliminate
    the disadvantages caused due to fuel-fired water
    heaters. The rising government pressure on
    companies for reducing carbon footprints have led
    to major corporations striving to develop low
    cost, eco-friendly, and efficient electric water
    heaters. Such strict norms coupled with changing
    consumer preferences toward electric products are
    sure to impel global electric water heater
    industry share over the coming seven years.

Table Contents of Electric Water Heater Market
  • Chapter 1 Methodology Scope
  • 1.1 Research Methodology
  • 1.1.1 Initial data exploration
  • 1.1.2 Statistical modeling and forecast
  • 1.1.3 Industry insights and validation
  • 1.2 Data Sources
  • Chapter 2 Executive Summary
  • 2.1 Electric water heaters industry 3600
    synopsis, 2013 - 2024
  • 2.1.1 Business trends
  • 2.1.2 Regional trends
  • 2.1.3 Application trends

  • Chapter 3 Electric Water Heaters Industry
  • 3.1 Industry Segmentation
  • 3.2 Industry Size and forecast, 2013 - 2024
  • 3.3 Industry ecosystem analysis
  • 3.3.1 Vendor matrix
  • 3.4 Industry Impact forces
  • 3.5.1 Growth drivers
  • Increasing residential and commercial
  • Rising disposable income
  • 3.5.2 Industry pitfalls and challenges
  • High operating cost
  • 3.5 Growth potential analysis
  • 3.6 Porters analysis
  • 3.7 Company market share analysis, 2015
  • 3.7.1 Strategic landscape
  • 3.8 PESTEL analysis

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