The Global Water Heater Market to be Driven by the Emerging E-Commerce Industry During the Forecast Period 2022-2027

Expert Market Research’s new report titled ‘Global Water Heaters Market Size Share, Growth, Analysis Report and Forecast 2022-2027’, gives an in-depth analysis of the global Water Heaters Market, assessing the market based on its segments like products, technologies, capacities, applications and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

  • Historical market size (2021): USD 30.1 billion
  • Forecast CAGR (2022-2027): 0%

The increased availability of water heater solutions on e-commerce channels is expected to drive the growth of the water heater industry over the forecast period. As these water heaters can heat water quickly and easily, the demand for the product increases. Furthermore, improved living standards and increased purchasing power of consumers lead to increased affordability of the product, which is expected to support the growth of the market. Moreover, the increasing number of hotels, restaurants and cafes, where these water heaters are needed for multiple purposes, is believed to contribute to the growth of the industry. In addition, people’s growing hygiene awareness and growing demand for water heaters in health centers are expected to drive the market over the forecast period.

Industry definition and major segments

Water heaters are appliances that provide continuous hot water for domestic and commercial purposes. It usually includes a dip tube, a shut-off valve, a heating pipe, a thermostat, a heating mechanism, a drain valve and a pressure relief valve.

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The Water Heater industry, based on product, can be segmented into:

On the basis of technology, the market is split into:

On the basis of capacity, the market is classified as follows:

  • Less than 30 liters
  • 30 – 100 Liters
  • 100 – 250 Liters
  • 250-400 Liters
  • Above 400 liters
  • Others

Based on Application, the market is segmented into:

  • Residential
  • Commercial
  • Industrial

Regional water heater markets include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

Government subsidies for promoting the use of solar water heaters are expected to be an important driver of industry growth. For example, India’s Ministry of New and Renewable Energy offers 30% grants to general categories and loans for the installation of solar water heaters. Investments by large companies in technological upgrading of water heaters are expected to boost the market. In this regard, technologically advanced tankless water heaters are expected to see increased adoption over the forecast period owing to their advantages such as increased efficiency, extended life, reduced time to dispense hot water, less space required and increased safety.

Main market players

Major market players include Bosch Thermotechnology Corp, Ariston Holding NV, Rinnai America Corporation, Bradford White Corporation, and Whirlpool Corporation, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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