Electric Water Heaters Market Analysis, Size, Share and Forecast Report to 2022

The Electric Water Heaters Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global electric water heaters market size is expected to value at USD 29.32 billion by 2022. The market is subject to witness a substantial growth due to the growing number of residential housing projects across the globe. Factors responsible for the robust growth of electric water heaters industry, in the recent years, include increasing popularity of tank less water heaters and rising per capita income in both developed and developing economies worldwide.

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The electric water heaters offer advantages such as better energy efficiency, environment-friendly capabilities and advanced temperature control for long duration of time. These factors are predicted to fuel the market demand for electric water heaters in the upcoming period. Globally, electric water heaters market is predicted to grow at CAGR of 6.9% in forecast period, providing numerous opportunities for market players to invest in research and development of these products.

The electric water heater is capable of performing day-to-day applications such as cooking, cleaning, and bathing. While, increasing adoption of electric water heaters in commercial applications involving hospital and hotels are expected to stimulate market progress over the forecast period as well.

Increasing penetration of electric water heaters in rural areas in both developing and underdeveloped economies coupled with lowered cost are anticipated to boost market performance for electric water heater industry, in the near future. Additionally, easy availability of electric water heaters due to presence of supermarkets, hypermarkets, retail stores and e-commerce retail chains is positively affecting market growth.

Key Players Analysis covered in these report

    • A.O. Smith Co.

    • General Electric Company, Inc

    • Rheem Manufacturing Co

    • Ariston Thermo SpA

    • Siemens and many others

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The electric water heaters market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, lower cost of electricity, and existence of well-established manufacturing sector.

Asia-Pacific region is predicted to hold major market share in electric water heaters with massive growth in forecast period. Countries such as India and China are leading the Asia-Pacific market with improved standard of living, rising per capita income, shifting trend towards automated temperature control, energy efficient solutions and environmental sustainability, and significant investment by leading industry players considering potential growth opportunities in the region.

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