Water Heater Market report compiled recently by Global Market Insights, LLC, examines the industry in terms of the global expanse, highlighting the present & future growth potential of each region as well as consolidated statistics. The study also presents a precise summary of the competitive milieu, key developments, and application landscape of the Water Heater Market based on the impact of the financial and non-financial facades of the industry.
Majorly fostered by the rising adoption of energy efficient components in the residential & commercial space, the global water heater market, crossing a valuation of over USD 25 billion in 2017, has emerged as a lucrative growth ground of the overall energy industry. The advent of renewables, IoT, and other smart environmentally responsible technologies, have further impacted the water heating industry for good in terms of new designs, shapes, energy efficiency standards, and more control over the equipment. Aided by these technological advancements, these products have undergone many changes in the recent years, which in turn have prominently impacted the market valuation.
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Further shedding light on the vast product landscape of this business sphere, the report claims that solar and instant water heaters are gaining exceptional traction around the globe. Favorable regulatory policies and GHG emission control targets are positively impacting the adoption of solar water heaters.
Additionally, the growing emphasis on the green growth projects, especially across the residential and commercial establishments, have significantly pushed the product demand in past few years. The UN’s move of 2016 to relaunch the solar housing program that required the installation of solar heaters in new constructions and buildings, stands as a substantiation to the aforesaid statement. The global solar water heater market is said to have vast scope of commercialization in the countries that have an abundance of sunlight.
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The Middle East water heater industry is another prominent region witnessing strong growth, and is tendering lucrative returns on investment. The abundance of sunlight & other renewable sources, urbanization trends, and the growing emphasis on producing green energy have positioned this region as the ideal hub for investors to cater to the growing demand for water heaters.
Recently for instance, an Italian manufacturer of heating systems, Ariston Thermo, has opened its first manufacturing facility in Bahrain, Middle East. The reports claim that the new facility will have an annual production capacity of more than 250,000 electric water heaters and will be majorly catering to the MEA market. The instance significantly validates the growing popularity of the belt as a valuable investment ground for leading water heater industry companies.
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The MEA region as a whole is serving as a strong regional contender for this business sphere, on account of its effective geographical positioning and abundance of natural resources. The regional government, with its supportive energy efficiency and environmental policies, has also been playing a vital role in the expansion of the regional water heater market. The growing regulatory norms and favorable schemes for the record have improved the product adoption trend. For instance, Cyprus, a country in Middle East, has been estimated by the International Energy Agency to have more than 90% of the overall households equipped with solar water heaters.
Partial Table of Contents (ToC) of the report:
Chapter 4. Global Water Heater Market, By Product
4.1. Global water heater market share by product, 2017 & 2024
4.2.1. Market estimates and forecast, 2013-2024
4.3.1. Market estimates and forecast, 2013-2024
4.4.1. Market estimates and forecast, 2013-2024
Chapter 5. Global Water Heater Market, By Capacity
5.1. Global water heater market share by capacity, 2017 & 2024
5.2. Below 30 Liter
5.2.1. Market estimates and forecast, 2013-2024
5.3. 30 – 100 Liter
5.3.1. Market estimates and forecast, 2013-2024
5.4. 100 – 250 Liter
5.4.1. Market estimates and forecast, 2013-2024
5.5. 250 – 400 Liter
5.5.1. Market estimates and forecast, 2013-2024
5.6. Above 400 Liter
5.6.1. Market estimates and forecast, 2013-2024
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