Global electric water heater market will record an annual installation of more than 109 million units by 2026, with a significant demand across residential and commercial establishments. In developing regions, governments are increasingly spending on rural electrification as well as infrastructure development. These are the major reasons driving the demand for electric water heaters across residential establishments.
Over the past decade, the consumer preference has gradually shifted towards energy-efficient electrical appliances, including electric water heaters. This trend can be attributed to growing energy usage and surging electricity bills. Electric water heating systems are easy to repair and maintain. Moreover, these systems are easy to install and are compatible with existing electrical circuit.
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Below is a brief overview of three key trends that are pegged to influence global electric water heater market size over the coming years:
Speaking on the lines of application segment, the commercial sector is anticipated to observe heavy growth over the coming years due to the massive proliferation of service sector and several ongoing green building constructions across the world.
There is an immense rise in demand for electric water heaters from offices owing to the numerous benefits they provide, which include improved performance due to technological advancements, low power consumption, and on demand heating. Rising demand coming from offices is expected to foster the market share significantly in coming timeframe.
Additionally, product differentiation along with extensive characteristics including remote controlling, voice activation, and leakage detection should further add up to the electric water heater market size through 2026.
The residential sector is slated to observe significant growth owing to flexible installation as well as ease of repair and maintenance offered by current electric water circuits. Along with this, availability of several designs and capacities that are capable of meeting a plethora of consumer requirements would positively impact the deployment of electric water heaters in residential applications.
Additionally, introduction of new technologies, that deliver enhanced performance, would further proliferate the electric water heater market size through 2026.
Apart from these growth factors, growing disposable income levels and the subsequent rise in the adoption of lavish and comfortable lifestyles is anticipated to further increase the deployment of electric water heaters.
Furthermore, several ongoing refurbishment activities are also expected to add up to the segment growth in coming years. Electric water heaters are extensively utilized across jacuzzies, spa, sauna, and swimming pools in both private and public properties.
Tightening government regulations regarding cleaner ways of generating electricity is anticipated to be a key factor driving the Europe electric water heater market share in coming years. The region has some of the world’s most strict building codes & standards and Eco-design directives, which are stimulating the adoption of energy efficient electrical appliances.
Additionally, the extremely cold winters the region experiences is supposedly another reason adding up to the market share in the region. In Europe, the units are also combined with several space and water-based heating systems, which would majorly escalate the product penetration.
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Furthermore, rising demand across commercial sector owing to a thriving tourism industry should further propel the market outlook in Europe.
Some of the key participants majorly contributing to the global electric water heater market share include Rinnai, Bosch, Bradford, A.O Smith, and Rheem Manufacturing among others.
Table of Contents (ToC) of the report:
Chapter 5 Electric Water Heater Market, By Capacity
5.1 Electric water heater market share by capacity, 2019 & 2026
5.2 <30 Liters
5.2.1 Global market from <30 liters, 2015 - 2026
5.2.2 Global market from <30 liters, by region, 2015 – 2026
5.3 30-100 liters
5.3.1 Global market from 30-100 liters, 2015 - 2026
5.3.2 Global market from 30-100 liters, by region, 2015 – 2026
5.4 100-250 liters
5.4.1 Global market from 100-250 liters, 2015 - 2026
5.4.2 Global market from 100-250 liters, by region, 2015 – 2026
5.5 250-400 liters
5.5.1 Global market from 250-400 liters, 2015 - 2026
5.5.2 Global market from 250-400 liters, by region, 2015 – 2026
5.6 >400 liters
5.6.1 Global market from >400 liters, 2015 - 2026
5.6.2 Global market from >400 liters, by region, 2015 – 2026
Chapter 6 Electric Water Heater Market, By Application
6.1 Electric water heater market share by application, 2019 & 2026
6.2.1 Global market from residential, 2015 - 2026
6.2.2 Global market from residential, by region, 2015 – 2026
6.3.1 Global market from commercial, 2015 - 2026
6.3.2 Global market from commercial, by region, 2015 – 2026
184.108.40.206 Global market from college/university, 2015 - 2026
220.127.116.11 Global market from college/university, by region, 2015 – 2026
18.104.22.168 Global market from offices, 2015 - 2026
22.214.171.124 Global market from offices, by region, 2015 – 2026
126.96.36.199 Global market from government/military, 2015 - 2026
188.8.131.52 Global market from government/military, by region, 2015 – 2026
184.108.40.206 Global market from others, 2015 - 2026
220.127.116.11 Global market from others, by region, 2015 – 2026
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