Water Heater Market by Revenue, Gross Margin, Market Share, Manufacturing Process Analysis Global Water Heater Market Size 2020 – 2026 report provide emerging opportunities in the market and the future impact of major Key vendors and Market driver and, support decisions in making cost-effective business decisions. The market report assesses key opportunities in the market and outlines the factors that are and will be driving the growth of the Water Heater Industry. The Water Heater Market is anticipated to increase at a significant to grow rate by 2020 – 2026.
The product finds extensive application in hotels and resorts on account of their superior mass flow. Strict regulatory guidelines pertaining to the safety during product installation and placement of vent pipes may hamper the product demand up to certain extent. However, growing adoption across remote off-grid regions will bolster the industry outlook in the coming years.
Browse key industry insights spread across 1030 pages with 2,206 market data tables & 36 figures & charts from the report, “Global Water Heater Market Size 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, Office, Government/Military]), By Fuel (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
On the basis of product, water heater market share is classified into instant and storage. Instant water heating technologies are anticipated to experience increasing adoption over the next few years. This can be attributed to the robust demand for efficient water heating systems with lower power consumption and lower costs. Considerably lower standby losses along with growing installation of instant water heating technologies across commercial settings such as offices and hospitals to address the hot water demands of consumers will complement water heater industry landscape in the near future.
Water Heater Market Growth Drivers:
• North America & Latin America:
• Growing demand for energy efficient water heaters
• Replacement of conventional water heating systems
• Europe
• Government mandates pertaining to energy efficiency
• Growing demand for replacement of existing water heaters
• Asia Pacific
• Rapid urbanization and advancing product customization
• Increasing demand for water heating systems
• Middle East & Africa
• Advancing technology coupled with rising emission standards
Water heater market share can be bifurcated into residential and commercial applications. Residential application is expected to gain traction in the coming years due to increasing investments in the retail sector along with the development of new and refurbishment of existing infrastructure. Respective governments are spending heavily on the construction of smart spaces and green infrastructure which will comprehensively foster the business growth across residential applications. Dedicated investments in R&D to introduce new and innovative technologies to meet the ever-growing demand for energy-efficient water heaters will boost the industry scope
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Europe water heater market is poised to register lucrative growth over the forecast timeframe. This can be largely credited to presence of stringent regulatory framework pertaining to the carbon emissions. According to the European Commission, eco-design and labelling directives govern the technological advancements and water level standards regarding smart control heaters. The surging demand for seasonal heating due to extreme climatic conditions and unpredictable climatic changes will drive the regional growth. Abundant availability of natural gas resources in European countries will present ample growth opportunities for regional water heater manufacturers.
Whirlpool, Bosch, A.O. Smith, and Rheem Manufacturing are some of the major industry players operating in global water heater market. Industry participants constantly rely on strategic mergers and acquisitions and explore collaboration opportunities from time to time to gain a strong foothold in the market.
These companies are also increasingly focusing and spending on the development of energy efficient, technologically advanced, and economical heating systems. Industry players are constantly exploring ways to integrate innovative and smart technologies into their product to gain a competitive edge.
For instance, Rinnai Corporation in 2020 integrated Samsung SmartThings in its tankless product series. The company had also made considerable technological enhancements in its smart home platform.
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