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Electric Water Heater Market growth projected at over 3.2% till 2026: Global Market Insights, Inc.

Europe electric water heater market is anticipated to witness exponential gains during the forecast period impelled by extreme climatic conditions in winters along with stringent environment norms.

Selbyville, Delaware, March 17, 2020 (GLOBE NEWSWIRE) --

According to latest report “Electric Water Heater Market by Product (Instant, Storage), Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), Application (Residential, Commercial [College/University, Office, Government/Military]), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of electric water heaters will cross $19 billion by 2026.

Rising electrification rate primarily across the developing regions coupled with continuous government investments toward infrastructural development will drive the electric water heater market growth. Prevailing inclination toward adoption of energy efficient electrical appliances on account of growing electricity bills will complement the market growth.

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Easy maintenance and repair along with flexible installation with the existing electrical circuit will stimulate the deployment across residential applications. The manufacturers are focusing toward forward integration with extensive post sale services for the customers. In addition, availability of multiple designs and capacities suitable for varied user requirement coupled with introduction of newer technologies with improved performance will complement the market landscape.

Extreme climatic conditions during winters along with stringent environment norms will drive the Europe electric water heater market growth. The units are further integrated with various water based central and space heating systems that will escalate the market demand. The region is regulated with strict Eco-design directives and building standards & codes promoting the adoption of energy efficient electrical appliances. In addition, growing demand from commercial sector across various tourist destination will further propel the market growth.

Robust expansion of service sector along with ongoing construction of green buildings will fuel the market growth. Rising demand from offices on account of multiple benefits including on demand heating, low power consumption and improved performance through technological advancement will positively enhance the industry outlook. Product differentiation with extensive features including voice activation, remote controlling and leakage detection will encourage the product adoption.

Substantial improvement in product design and performance coupled wth strong competition from its counterparts will foster the electric water heater market. Improvement in key issues including calcium deposition, dry firing, standby heat losses will stimulate the product deployment. In addition, development of smart water heaters with enhanced UI and integrated AI applications will further boost the market penetration.

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Ongoing refurbishment activities along with shifting trends toward a comfortable and lavish lifestyle will facilitate the demand across the market. The units are increasingly used across swimming pools, jacuzzies, sauna and spa across both public and private properties. In addition, rising disposable income and surging customer spending will further augment the market landscape.

Some major findings of the electric water heater market report include:

  • Ongoing investments toward product design and development will spur the market growth.
  • Ongoing measures to curb carbon emissions along with stringent energy efficiency directives will accelerate the market growth.
  • Development of high capacity and low power consuming appliances coupled with growing demand from large commercials applications with spur the market growth.
  • Key players functioning in the electric water heater market include Rheem Manufacturing, A.O Smith, Bradford, Bosch and Rinnai.
  • Growing infrastructural spending on account of rising economic growth will augment the market landscape.

Table of Contents (ToC) of the report:

Chapter 3    Electric Water Heater Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Innovation & sustainability

3.4.1    A.O Smith

3.4.2    Vaillant

3.4.3    RHEEM Manufacturing

3.4.4    BOSCH Thermotechnology

3.4.5    Bradford White

3.4.6    State Industries

3.5    Regulatory landscape

3.5.1    North America

3.5.1.1    U.S.

3.5.1.1.1    Department of Energy

3.5.1.1.2    National appliance energy conservation act

3.5.2    Europe

3.5.2.1    Commission Regulation (EU)No 814/2015

3.5.2.2    BNDH EWH02

3.5.2.3    Energy labeling directive 2010/30/EU

3.5.2.4    EED – Energy Efficiency Directive 2012/27/EU

3.5.2.5    Energy performance of buildings

3.5.2.6    Austria

3.5.2.7    Belgium

3.5.2.8    France

3.5.3    Asia Pacific

3.5.3.1    China

3.5.3.1.1    NDRC/AQSIQ/CNCA

3.5.3.1.2    Mandatory labels

3.5.4    Middle East & Africa

3.5.4.1    Saudi Arabia

3.5.4.1.1    Saudi Arabia Energy Efficiency Standards for Electrical Appliances

3.5.4.1.2    Water heaters: (SASO 2884:2017)

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 region

3.8.2    Price trend analysis, by capacity

3.9    Industry impact forces

3.9.1    Growth drivers

3.9.2    Industry pitfalls & challenges

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

3.12.1.7    GE Appliances

3.13    PESTEL Analysis

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/electric-water-heater-market

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.

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