Water heaters are the appliances used to heat the water above their initial temperature. They are commonly used for residential applications such as cooking, cleaning, bathing and space heating. Apart from this, water heaters also finds application in large industries such as chemical, thermal power plants and various manufacturing facilities. Water heaters uses numerous energy sources such as electricity, gas, solar, geothermal to supply hot water. Deployment of specific type depends on cost effective availability of the source and application.
MARKET SCOPE
The "Global Water Heater Market Analysis To 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the water heater market with detailed market segmentation by product type, application, capacity, and geography. The report provides key statistics on the market status of the leading water heater market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on product type, the global water heater market is segmented into gas, instant, storage, and solar.
? On the basis of application, the market is bifurcated into residential and industrial.
? Based on capacity, the market is segmented into up to 30 liters, 30-100 liters, 100-250 liters, 250-400 liters, and above 400 liters.
MARKET DYNAMICS
Drivers:
? Development in hybrid solution to use both solar as well as electric energy and rapid urbanization is driving the demand for water heaters for several commercial and industrial applications.
? Demand for renewable source of energy and replacement of old water heaters with advanced energy saving heaters is expected to increase the demand in near future. Leading players forming strategic alliance with technology companies to cater to the demand for advanced heating solutions is identified as one of the major trends in the global water heater market.
Restraints:
? Availability of alternatives such as solar water heating technology may hinder the growth of the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The water heater market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the water heater market in these regions.
IMPACT OF COVID-19 ON WATER HEATER MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the water heater market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from water heater market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the water heater market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? Ariston Thermo SPA
? Bajaj Electricals Ltd.
? Bosch Industriekessel GmbH
? Bradford White Corporation
? Bradley Corporation
? BSH Home Appliances Group (Siemens AG)
? Eccotemp.com
? A.O. Smith Corporation
? Rinnai America Corporation
? Venus Home Appliances (P) Ltd.