Global Water Heater Market, 2015 to 2021
Global Water Heater Market, 2015 to 2021 Persistence Market Research Global Water Heater Market is Expected to Be Valued at US$ 52.8 Bn by 2021 : Persistence Market Research Persistence Market Research 1 Global Water Heater Market, 2015 to 2021 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research “Global Market Study on Water Heater Market: Increased Product Visibility Has Resulted in Increasing Demand for Energy-efficient Water Heaters in the Recent Past,” the water heater market is estimated to be valued at US$ 39.5 Bn by the end of 2015 and is anticipated to expand at a CAGR of 4.9% from 2015 to 2021. Also, in terms of volume, around 68.8 Mn water heater units are expected to be installed by 2015 end across the globe, with the overall market anticipated to expand at a CAGR of 4.6% during the forecast period. Hot water is an essential part of day to day living. It is required for showering, washing clothes, and other purposes, such as for hydronic heating and thermal comfort, especially in extremely cold climate regions and countries. Appliances supplying hot water for residential and commercial purposes include boilers, Heating, Ventilating, and Air Conditioning (HVAC) systems, and water heaters. Request Customize Full TOC: http://www.persistencemarketresearch.com/toc/3289 Expanding manufacturing and construction industry, increasing urbanization, and rise in strategic alliances by various players to leverage market opportunity are factors driving the growth of the global water heater market currently. Also, increasing demand for continuous hot water supply is prompting manufacturers to focus on delivering energy efficient and low maintenance water heater products. However, factors such as high installation costs, increasing focus on compliance of standards, and fuel demand dynamics are restricting the growth of the overall water heaters market currently. Global water heaters market is segmented on the basis of product types, storage types, and end use regions. Product type segments include solar heaters, electric heaters, gas & propane heaters, and geothermal water heaters. Of these, the electric heaters segment is expected to dominate the market in terms of value share contribution by 2021 end and is expected to expand at the highest CAGR over the forecast period (2015–2021). In terms of volume, the gas and propane heaters segment is expected to account for a significant market share during the forecast period. Persistence Market Research 2 Global Water Heater Market, 2015 to 2021 Request Sample Report: http://www.persistencemarketresearch.com/samples/3289 Key market players profiled in this report include Venus Home Appliances Private Ltd., AO Smith Corporation, Rheem Manufacturing Co., Siemens AG., Ariston Thermo SPA. Bajaj Electricals Ltd., Bradford White Corp., Haier Electronics Group Co., Ltd., HTP Inc., Noritz Corp. and Rinnai Corp. In addition, China-based manufacturers covered in the report include Zhejiang KANCHQUAN Electric Appliance Co., Ltd, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Genrui, Himin Solar Co., Ltd, and Zhongshan Inse Group Co, Ltd. View Detail Report: http://www.persistencemarketresearch.com/market-research/waterheater-market.asp The global water heater market is segmented as follows: By Product Type: Solar Heaters Electric Heaters Gas & Propane Heaters Geothermal Heaters By Storage Type: Storage Heaters (Tank Type) Tankless Heaters Hybrids (Heat Pump) Heaters By End Use: Residential Commercial Persistence Market Research 3 Global Water Heater Market, 2015 to 2021 By Region: North America Latin America Europe Asia Pacific Middle East and Africa Market History: The global water heater devices market was valued at US$ 37.8 Bn in 2014 and is expected to expand at a CAGR of 4.9% by 2021. Increasing R&D initiatives by international and regional players for development of innovative and efficient water heaters is leading to competitiveness in the market. This is further expected to fuel market growth during the forecast period. The global water heater devices market is segmented on the basis of product type, storage type, and end use. Product type segment includes solar heaters, electric heaters, gas and propane heaters, and geothermal water heaters. Storage type segment includes storage (tank type) heaters, tankless heaters, and hybrid (heat pump) heaters. End use segment includes residential and commercial. Among storage type segments, the tankless heater segment is expected to expand at the highest CAGR of 6.0% in terms of value, which is 1.2x the total expected water heater market revenue during the forecast period. Geographically, the global water heater market has been segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The water heater devices market in Asia Pacific was valued at US$ 11.6 Bn in 2014 and is expected to increase to US$ 17.8 Bn by 2021. Among all the countries in Asia Pacific, the market in India is expected to expand at the highest CAGR during the forecast period in terms of revenue contribution. The growth of the market in India is mainly attributed to increasing consumer preference for sophisticated and advanced products, supported by increasing disposable income, growing construction industry, increasing retail infrastructure, and others. Increasing demand for the continuous flow of hot water in households and commercial establishments is expected to drive market growth in the coming years. This is also prompting companies to conduct R&D Persistence Market Research 4 Global Water Heater Market, 2015 to 2021 initiatives to develop and introduce enhanced and efficient products in order to cater to the evolving needs of the end-users. All these factors, together, are driving demand for energyefficient water heater products currently and thus, leading to a development of such products by manufacturers, both at international and domestic levels. The prominent players in the global water heater devices market covered in this report include AO Smith Corporation, Siemens AG., Rheem Manufacturing Co., Venus Home Appliances Private Limited, Bajaj Electricals Ltd., HTP Inc., Bradford White Corp., Ariston Thermo SPA., Rinnai Corp., Haier Electronics Group Co., Ltd., and Noritz Corp. Also, Chinabased manufacturers covered in the report include Zhejiang KANCHQUAN Electric Appliance Co., Ltd, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Genrui, Himin Solar Co., Ltd., and Zhongshan Inse Group Co, Ltd. Persistence Market Research 5 Global Water Heater Market, 2015 to 2021 About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. Contact Us: Persistence Market Research 6 Global Water Heater Market, 2015 to 2021 Addie Thomes 305 Broadway 7th Floor, New York City, NY 10007, United States, USA - Canada Toll Free: 800-961-0353 Email: [email protected] Web: http://www.persistencemarketresearch.com Persistence Market Research 7
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