The global market for electric water heater is projected to have considerable CAGR of around 5.4% during the forecast period. The major factor driving the market of electric water heater is that the electric heater do not having the danger of exploding as compare to gas water heater. In addition to this, electric water heaters allow hassle free installation leading to the increase in market growth for electric water heaters.

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Electric water heaters consume less space as compared to conventional gas water heaters boosting the demand of electric water heater market. Furthermore, electric water heaters can be equipped with AI such as auto-timer. Moreover, Electric immersion water heaters are being significantly utilized for industrial applications due to robust and efficient heating. In addition, it has its own electricity supply and is not dependent on boilers to work. The rising application of electric water heater in commercial and industrial sector further provides 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

Regional Analysis

North America

United States

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

Rest of the World

Company Profiles

A.O. Smith Corp.

Ariston Thermo SpA

ATC Electrical and Mechanical, Ltd.

Bajaj Electricals Ltd.

Bandini Scaldabagni SpA

Bradford White Corp.

Crompton Greaves Consumer Electricals Ltd.

General Electric Co.

Haier electronics group Co., Ltd.

HTP Comfort Solutions LLC

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