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Global Water Heater Market Research and Forecast, 2018-2023

December 2018 | | ID: G8D8A8623AEEN
Orion Market Research Private Limited

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A water heater is an apparatus used for heating and usually storing the water for domestic and commercial application. Generally, a water heater has a water source unit, a heating device & power source, and a water supply system. The heating device consists of heating coils with which heat is exchanged from coil to water. Factors augmenting the water heater device market is increasing the disposable income of the people along with improving the standard of living.

Government subsidiaries regarding the energy efficient water heater for the domestic and industrial purpose are also augmenting the market. Increasing commercialization globally especially in emerging economies is also one of the major factors for increasing market. Commercial places such as hotels, hospitals, Spa have a huge application of water heater. Significant commercialization has been observed globally. As per WHO, about 54% population were living in the urban area in 2014 which was only 34% in 1960. The percentage is expected to further go up in upcoming years. It is expected that the global urban population will grow with 1.84% per year from 2015 to 2020 and 1.63% per year from 2020 to 2025.

Rising adoption of solar water heater is a significant opportunity for augmenting the solar heater market. The cost of heated water is very less compared to other water heaters. However, the solar water heater has a comparatively high installation cost and requires more space for installing the solar panels. Less penetration in developing and under-developed economies is also one of the major factors restraining the market.

Global water heater market is segmented by energy source, mode of water supply and end-user. By energy source, the market is segmented into gas, electricity, hybrid, and solar. Electricity water heaters are widely accepted whereas solar is expected to have a significant market growth due to it being eco-friendly and energy conservation products. By mode of water supply, the market has been segmented into on-demand or tankless water heater and storage or tank water heater. Tank water heater is further segmented into water heater of 0-20 liters, 20-50 liters, and more than 50 liters. Tank water heater of 0-20 liter is expected to have a major market share due to high usage in domestic and commercial usage. By end-user, the market has been divided into residential, commercial and industrial. As expected, residential will show significant market growth during the forecast period.

By geography, the global water heater market is divided into North America, Europe, Asia-Pacific and Rest of the World. During the forecast period, it is expected that the Asia-Pacific region would hold a significant market during the forecast period. A major contributor to the market is China, India, Japan, Indonesia, and South Korea. Additionally, it is expected that the Asia-Pacific market would show the highest growth rate during the forecast period. It is due to increasing disposable income and rising adoption of solar water heater in the region. North America and Europe are also expected to have a significant market due to significant usage in the commercial, domestic and industrial sector.

Some of the key players operating in the global water heater market are A. O. Smith Corp., Ariston Thermo SPA, Bradford White Corp., Crompton Greaves Ltd., General Electric Co., Haier Electronics Group Co., Ltd., Noritz Corp., Rheem Manufacturing Company, Rinnai Corp., and Siemens AG. In order to sustain in the competitive market, these players adopt various strategies such as acquisitions, mergers, expansions, joint ventures, and product development and so on. For instance, in January 2018, Rinnai Corporation launched three new products in tankless water heater as Sensei Tankless Water Heater, M-Series Condensing Boiler and the Demand Duo 80 Hybrid Commercial Water Heating System.

RESEARCH METHODOLOGY

The market study of water heater is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

SECONDARY SOURCES INCLUDE:
  • Financial reports of companies involved in the market
Water heater unit sales at the regional level
  • The average cost of the water heater and their accessories
Government initiatives and subsidiary on the products
  • Whitepapers, research-papers, and news blogs
  • Company websites and their product catalog
The report is intended to water heater manufacturing companies, textile industry, chemical industry, e-commerce companies, government organization, venture capitalists for overall market analysis and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

MARKET SEGMENTATION:

Global water heater market is segmented on the basis of regional outlook and following segments:
Global water heater Market Research and Analysis, By Energy Source
Global water heater Market Research and Analysis, By Mode of Water Supply
Global water heater Market Research and Analysis, By End-User
Global water heater Market Research and Analysis, By Region

THE REPORT COVERS:
  • Comprehensive research methodology of global water heater market.
  • This report also includes a detailed and extensive market overview with key analyst insights.
  • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the global water heater market.
  • Insights about market determinants which are stimulating the global water heater market.
  • Detailed and extensive market segments with regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.
CHAPTER 1. REPORT SUMMARY

1.1. Research Methods and Tools
1.2. Market Breakdown
  1.2.1. By Segments
  1.2.2. By Geography
  1.2.3. By Stakeholders

CHAPTER 2. MARKET OVERVIEW AND INSIGHTS

2.1. Definition
2.2. Analyst Insight & Current Market Trends
  2.2.1. Key Findings
  2.2.2. Recommendation
  2.2.3. Conclusion
2.3. Regulations

CHAPTER 3. MARKET DETERMINANTS

3.1. Motivators
  3.1.1. Government Subsidiaries on Energy Efficient Water Heaters
  3.1.2. Adoption in Industrial and Commercial Industry
3.2. Restraints
  3.2.1. High Initial Cost and Space Requirement of Solar Water Heater
3.3. Opportunities
  3.3.1. Increasing Adoption of Hybrid and Solar Powered Water Heater

CHAPTER 4. MARKET SEGMENTATION

4.1. Global Water Heater Market by Energy Source
  4.1.1. Gas
  4.1.2. Electricity
  4.1.3. Hybrid
  4.1.4. Solar
4.2. Global Water Heater by Mode of Water Supply
  4.2.1. On-Demand or Tank-Less Water Heater
  4.2.2. Storage or Tank Water Heater
4.3. Global Water Heater Market by End-User
  4.3.1. Residential
  4.3.2. Commercial
  4.3.3. Industrial

CHAPTER 5. COMPETITIVE LANDSCAPE

5.1. Key Strategy Analysis
5.2. Key Company Analysis

CHAPTER 6. REGIONAL ANALYSIS

6.1. North American
  6.1.1. United States
  6.1.2. Canada
6.2. Europe
  6.2.1. UK
  6.2.2. Germany
  6.2.3. Italy
  6.2.4. Spain
  6.2.5. France
  6.2.6. RoE
6.3. Asia-Pacific
  6.3.1. India
  6.3.2. China
  6.3.3. Japan
  6.3.4. Rest of Asia-Pacific
6.4. Rest of the World

CHAPTER 7. COMPANY PROFILES

7.1. A. O. Smith Corp.
7.2. Ariston Thermo SpA
7.3. Atc Electrical and Mechanical Ltd.
7.4. Bajaj Electricals Ltd.
7.5. Bandini Scaldabagni S.P.A.
7.6. Bradford White Corp.
7.7. Crompton Greaves Ltd.
7.8. General Electric Company
7.9. Haier Electronics Group Co., Ltd.
7.10. Himin Solar Group Co., Ltd
7.11. Hot Water Products Inc.
7.12. HTP Comfort Solutions LLC
7.13. Jiaxing Jinyi Solar Energy Technology Co, Ltd.
7.14. Kanch (Hangzhou) Water Heater Co., Ltd.
7.15. Noritz Corp.
7.16. Rheem Manufacturing Company Inc.
7.17. Rinnai Corp.
7.18. Siemens AG
7.19. Stiebel Eltron, Inc.
7.20. Venus Home Appliances (P) Ltd.
7.21. Zhongshan Inse Group Co, Ltd.

LIST OF TABLES

TABLE # 1 GLOBAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY ENERGY SOURCE, 2017-2023 ($ MILLION)
TABLE # 2 GLOBAL GAS WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 3 GLOBAL ELECTRICITY WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 4 GLOBAL HYBRID WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 5 GLOBAL SOLAR WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 6 GLOBAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY MODE OF WATER SUPPLY, 2017-2023 ($ MILLION)
TABLE # 7 GLOBAL ON-DEMAND OR TANK-LESS WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 8 GLOBAL STORAGE OR TANK WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 9 GLOBAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY END-USER 2017-2023 ($ MILLION)
TABLE # 10 GLOBAL RESIDENTIAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 11 GLOBAL COMMERCIAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 12 GLOBAL INDUSTRIAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 13 GLOBAL WATER HEATER MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2017-2023 ($ MILLION)
TABLE # 14 NORTH AMERICA WATER HEATER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2017-2023 ($ MILLION)
TABLE # 15 NORTH AMERICA WATER HEATER MARKET RESEARCH AND ANALYSIS BY ENERGY SOURCE, 2017-2023 ($ MILLION)
TABLE # 16 NORTH AMERICA WATER HEATER MARKET RESEARCH AND ANALYSIS BY MODE OF WATER SUPPLY, 2017-2023 ($ MILLION)
TABLE # 17 NORTH AMERICA WATER HEATER MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 18 EUROPE WATER HEATER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2017-2023 ($ MILLION)
TABLE # 19 EUROPE WATER HEATER MARKET RESEARCH AND ANALYSIS BY ENERGY SOURCE, 2017-2023 ($ MILLION)
TABLE # 20 EUROPE WATER HEATER MARKET RESEARCH AND ANALYSIS BY MODE OF WATER SUPPLY, 2017-2023 ($ MILLION)
TABLE # 21 EUROPE WATER HEATER MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 22 ASIA-PACIFIC WATER HEATER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2017-2023 ($ MILLION)
TABLE # 23 ASIA-PACIFIC WATER HEATER MARKET RESEARCH AND ANALYSIS BY ENERGY SOURCE, 2017-2023 ($ MILLION)
TABLE # 24 ASIA-PACIFIC WATER HEATER MARKET RESEARCH AND ANALYSIS BY MODE OF WATER SUPPLY, 2017-2023 ($ MILLION)
TABLE # 25 ASIA-PACIFIC WATER HEATER MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 26 REST OF THE WORLD WATER HEATER MARKET RESEARCH AND ANALYSIS BY ENERGY SOURCE, 2017-2023 ($ MILLION)
TABLE # 27 REST OF THE WORLD WATER HEATER MARKET RESEARCH AND ANALYSIS BY MODE OF WATER SUPPLY, 2017-2023 ($ MILLION)
TABLE # 28 REST OF THE WORLD WATER HEATER MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)

LIST OF FIGURES

FIGURE # 1 GLOBAL WATER HEATER MARKET SHARE BY ENERGY SOURCE, 2017 VS 2023 (%)
FIGURE # 2 GLOBAL WATER HEATER MARKET SHARE BY MODE OF WATER SUPPLY, 2017 VS 2023 (%)
FIGURE # 3 GLOBAL WATER HEATER MARKET SHARE BY END-USER, 2017 VS 2023 (%)
FIGURE # 4 GLOBAL WATER HEATER MARKET SHARE BY GEOGRAPHY, 2017 VS 2023 (%)
FIGURE # 5 US WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 6 CANADA WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 7 UK WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 8 FRANCE WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 9 GERMANY WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 10 ITALY WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 11 SPAIN WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 12 ROE WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 13 INDIA WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 14 CHINA WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 15 JAPAN WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 16 REST OF ASIA-PACIFIC WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 17 REST OF THE WORLD WATER HEATER MARKET SIZE, 2017-2023 ($ MILLION)


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