Water Heater Market Growth, Size, Opportunities and Analysis Forecast 2020 - 2026

Global Market Insights, Inc., presents the Water Heater Market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue.

Browse key industry insights spread across 1300 pages with 2,856 market data tables & 66 figures & charts from the report, “Water Heater Market Statistics By Product (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}, Gas {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), By Application (Residential, Commercial [College/University, Offices, Government/Military, Others]), By Fuel (Electric, Gas [Natural gas, LPG]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/water-heater-market

Based on the product, global water heater industry is bifurcated into instant and storage based systems. The demand for storage based water heating systems is slated to grow considerably over the next few years. They are available in a wide variety of capacities delivering different functionality and performance. Growing consumer preference towards smart and energy efficient technologies will certainly augment the product demand.

Water heating technologies can be classified into electric and gas based systems on the basis of fuel. Electric segmented accounted for more than 6% revenue share of global water heater market in 2019 and will experience a significant adoption by 2026. Electric water heating technologies provide users with numerous benefits. These include simplicity, convenience, increased safety, improved indoor air quality, cost savings, high performance and efficiency.

They eliminate problems and hazards associated with fuel-based systems, making them highly safe and convenient for use. Due to lack of combustion process, no harmful by-products are released into the occupied space, resulting in an improved indoor air quality. In addition, they serve as the simplest and most convenient water heating solution in both residential and commercial applications.

In terms of the capacity, the demand for water heating systems with more than 400 liter capacity is slated to rise substantially through the next few years. This demand will be mainly driven by increasing investments in the development of large houses, mansions, and villas, among other high-end infrastructures.

Considering the applications, the installation of water heaters across the residential sector is projected to record a healthy growth, with increased focus towards energy conservation across residential establishments. With rising electricity costs, more and more homeowners are looking to replace existing systems with newer, more efficient technologies. Respective government and regulatory bodies have also introduced stringent norms to boost energy efficiency across residential settings. Upcoming residential expansions projects on account of rapid urbanization will certainly bolster overall water heater industry.

From a geographical point of view, the demand for efficient water heating systems across Eurasia is likely to witness a steady growth in the future. India is estimated to account for over 3% of the overall revenue share by 2026, with numerous residential and commercial expansion projects. An increasing urban population and industrial development have augmented the demand for new infrastructure solutions.

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