Storage Water Heater Market research report by 2022 to 2030

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Storage Water Heater Market statistics and
research analysis released in latest report

• The Storage Water Heater Market research report
  analysis from recent past with an eye on coming
  years in this report that also offers projections
  towards industry targeted at helping in business
  decisions.
• The Rapid increase in building and construction
  activities is one of the key factors amplifying
  Storage water heater Market expansion, especially
  across developed economies. Global storage water
  heater industry is expected to exhibit a CAGR of
  nearly 4 through 2030, according to a Global
  Market Insights Inc.
• With the increasing awareness about the negative
  impacts of climate change, the use of low-carbon
  heating systems is slated to rise. As a result,
  Asia will emerge as a key manufacturing hub for
  the storage water heater market over the years
  ahead.

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• Over the years, there has been a rapid rise in
  energy consumption to meet the needs of heating
  and cooling systems, along with the requirement
  to replace aging heating stock. According to the
  European Commission, 80 and 60 of the energy
  demands are driven by heating and cooling systems
  in residential and service sector buildings
  respectively across the EU. Furthermore, the
  current heating stock will have to be replaced
  over the next 5 to 8 years, stimulating the need
  for efficient heating systems, including electric
  storage water heaters.

• Also, in March 2022, Singapore announced that
  building owners are eligible to receive 63
  million under the GMIS-EB (Green Mark Incentive
  Scheme for Existing Buildings 2.0), to retrofit
  buildings and make them greener from the second
  quarter of 2022. This introduction of favorable
  schemes to increase the energy efficiency of
  buildings will escalate the deployment of storage
  tank water heaters, especially those powered by
  renewable energy sources.

• Statistics of Storage Water Heater Market
  covering market size, industry share numbers,
  regional outlook, competitive landscape with data
  about leading companies is now available in the
  latest report by Global Market Insights, Inc.

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• Regional Analysis

• According to the U.S. Census Bureau, residential
  construction reached a seasonally adjusted annual
  rate of around 891.5 billion in April 2022, a
  nearly 1 hike from the revised March estimate of
  over 883.5 billion.
• In addition, Asia, a major contributor to global
  carbon emissions, will also likely witness
  adverse economic impacts of climate change. As
  per the 2021 UN Climate Change Conference
  (COP-26), climate change is expected to shave
  over 11 off the gross domestic product by the
  end of the century in the region.

• Competitive Analysis

• Havells India Ltd, Hubbell Heaters, Saudi
  Ceramics Company, Linuo Ritter International Co.,
  Ltd., Jaquar India, Viessmann, Vaillant, Nihon
  Itomic Co., Ltd., Atlantic, A.O Smith, Ariston
  Holding N.V., Bosch Thermotechnology Ltd.,
  Bradford White Corporation, USA, Haier Inc.,
  Rheem Manufacturing Company

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