europe electric water heater Market

The electric water heater market in Europe is expected to grow from US$ 3,112.6 Mn in 2018 to US$ 4,249.7 Mn by the year 2027 at a CAGR of 3.5% during the forecast period.

The rising residential infrastructure worldwide is enabling the market players operating in the electric water heater market to enhance their respective product range to attract a wide variety of customers. The awareness of benefits and application areas of electric water heaters is peaking among the urban population, and pertaining to this, the adoption of the same is continuously growing, which is then furnishing the revenue size of the electric water heaters market. Thus, with the escalating migration from rural areas to urban areas in different countries, the demand for electric water heaters in the residential sector would soar in the coming years. Therefore, the urban immigration factor is a key influential factor for the electric water heater market throughout the forecast period.

On the basis of product type, the Europe electric water heater market was led by a storage segment in 2018 with a decent share and is expected to continue its dominance during the forecast period by 2027. However, the non-storage in electric water heater market is expected to grow at a high rate. The electric non-storage water heaters, also known as instantaneous water heaters, provide hot water only as it is required. These water heaters do not produce the standby energy losses like storage water heaters (as, it consumes some energy when left on standby mode or even switched off), which saves the money. The non-storage water heaters heat the water directly without the use of a storage tank. When a hot water tap is on, the cold water goes through a pipe, either an electric or a gas burner heats the water. The growing demand for instant water heater in the residential segment is expected to drive the growth of electric water heater market.

The overall Europe electric water heater market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe electric water heater market. It also provides an overview and forecast for the electric water heater based on all the segmentation provided with respect to the Europe region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the electric water heater industry. Some of the players present in the Europe electric water heater market are AO Smith Corporation, Ariston Thermo S.p.A, Bradford White Corp., Whirlpool Corporation, Haier Inc., Midea Group, Bosch Thermotechnology, Siemens AG, and Viesmann Group.