Global Water Heaters Market Report 2020: Industry Size & Growth, Competitive Landscape, Shares, Trends and Strategies to 2030

DUBLIN, Feb. 24, 2020 /PRNewswire/ -- The "Water Heaters Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global water heaters market was worth $ 18.04 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 0.15% and reach $31.12 billion by 2023.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider water heaters market, and compares it with other markets.

Rapid Urbanization is expected to contribute to the growth of the water heaters market in the forecast period. Globally, the percentage of population living in urban areas is expected to increase from 55% in 2018 and reach 68% by 2050. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for water heaters.

Rising electricity prices are expected to limit the growth of the water heater market in the forecast period. Globally, electricity prices are rising due to increasing transmission costs. In 2019, Australian government announced a price hike of AUD50 for all households in Victoria, starting from 2020. Rising electricity prices coupled with the rising power outages, and high installation costs of solar water heaters will limit the growth of the water heaters market.

Water heater manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, an ENERGY STAR certified water heater saves $3500 over its lifetime.

In 2019, Rheem Manufacturing, a USA based heating and cooling products manufacturer, through its group entity Paloma Rheem Global, acquired Intergas for an undisclosed amount. This acquisition allows Rheem to increase product offering and also provide it with competitive solutions to increase presence in the European market . Intergas is a Netherlands based manufacturer of heating equipment.

The water heaters market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific accounts for around 53% of the market.

Major players in the market are Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc, Bradford White Corp, Noritz Corp.

Key Topics Covered

1. Executive Summary

2. Water Heaters Market Characteristics

3. Water Heaters Market Size And Growth
3.1. Global Water Heaters Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Water Heaters Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Water Heaters Market Segmentation
4.1. Global Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Solar Heaters
• Electric Heaters
• Gas and Propane Heaters
• Geothermal Heaters

4.2. Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Residential
• Commercial
• Industrial

4.3. Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Supermarket/Hypermarket
• Specialty Stores
• E-Commerce
• Others (Wholesalers, distributors)

5. Water Heaters Market Regional And Country Analysis
5.1. Global Water Heaters Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Water Heaters Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• A.O Smith
• Alternate Energy Technologies
• Ariston Thermo S.p.A.
• Bajaj Electricals Ltd.
• Bosch
• Bradford White Corp.
• Chromagen
• Crompton Greaves Ltd
• Haier Water Heater Co. Ltd
• Heat Transfer Products Inc
• Himin Solar Energy
• HTP
• Linuo Ritter
• Noritz Corp
• Racold
• Rheem Manufacturing Co.
• Rinnai
• Siemens AG
• Sun Tank
• V Guard Industries
• Venus Home Appliances
• Viessmann
• Wagner Solar

For more information about this report visit https://www.researchandmarkets.com/r/aaojmk

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