Authored By: Sarah
18 Jun 2021

Water Heater Market Size to Grow by $ 2.76 bn through 2020-2024 | Forecast and Trend Analysis

Technavio has been monitoring the water heater market and it is expected to grow by $ 2.76 bn, accelerating at a CAGR of almost 2% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


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Water Heater Market: Emerging Trends to Impact Market Growth

Increasing demand from commercial end-user segment to emerge as a key trend in the industrial water heater market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Water Heater Market Size to Grow by $ 2.76 bn through 2020-2024 | Trend Analysis and Forecasts

Water Heater Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. A. O. Smith Corp., Ariston Thermo Spa, Bradford White Corp., Guangdong Vanward New Electric Co. Ltd., Haier Smart Home Co. Ltd., Midea Group Co. Ltd., Noritz Corp., Rheem Manufacturing Co., Rinnai Corp., and Robert Bosch GmbH are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

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The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 2%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 2.76 bn through 2020-2024.

     
  3. What is a key factor driving this market?
    Increasing demand for tankless water heaters will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    51% growth will originate from APAC

     
  6. Who are the leading market vendors?
    The leading vendors in this market are A. O. Smith Corp., Ariston Thermo Spa, Bradford White Corp., Guangdong Vanward New Electric Co. Ltd., Haier Smart Home Co. Ltd., Midea Group Co. Ltd., Noritz Corp., Rheem Manufacturing Co., Rinnai Corp., and Robert Bosch GmbH

     
  7. What are the market segments covered in this report?
    The market is segmented by End-user (Residential, Commercial, and Industrial), Type (Electric, Gas, and Solar), Distribution channel (Supermarket, Online, and Other offline), and Geography (APAC, North America, Europe, South America, and MEA)
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