Global market for electric water heater is projected to have considerable CAGR of around 10.5% during the forecast period. The major factor that propels the market growth include growing demand of tank less energy efficient water heater. The rising shift in the preference for tank less water heaters over conventional water heaters has been observed due to the energy-saving capacity of tank less water heaters. Tank less water heaters heat the water on demand instead of storing hot water, and no immersion rod is equipped for keeping the water hot continuously. Unlike conventional water heating systems, tank less water heater gets activated when the shower or faucet is turned on and gets deactivated when turned off, ensuring a continuous supply of hot water by saving energy.Moreover, mandatory rating norms by several governments in the Americas and Europe have made tan less water heaters ecco-friendly and economical for the users, surging their preference for such water heaters.

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Moreover, IoT has been gaining popularity in lighting and home security industries, the technology is also transforming the commercial water heating. The capability of using an app for getting real-time performance data offers benefits to water heater manufacturers, plumbing contractors and commercial businesses who rely on a steady, cost-effective supply of hot water. IoT in water heating system can save energy in a number of ways. A user is allowed to control the heating system; for instance, lowering the temperature of the heater when no one is in the home. It can also include web-based or mobile app control through which the temperature can be adjusted from anywhere. The water heating companies are collaborating with IoT companies for adding connectivity in their boilers. Therefore integration of IoT in water heater further provide significant opportunity to the market.  

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Global Electric Water Heater Market Segmentation
By Product Type
Tankless Water Heater
Storage Water Heater

By Application
Residential 
Commercial 
Industrial

Global Electric Water Heater Market – Segment by Region 
North America           
United States 
Canada

Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific    
China
Japan
India
Rest of Asia-Pacific

Rest of the World
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