The global water heater market size was valued at USD 17,772 million in 2018 and expected to grow at a CAGR of 5.7% during the forecast period. 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.
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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.
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Water Heater Market Segmentation
By Energy Source
Gas
Electricity
Hybrid
Solar
By Mode of Water Supply
On-Demand or Tank-Less Water Heater
Storage or Tank Water Heater
By End-User
Residential
Commercial
Industrial
Competitive Landscape
Key Strategy Analysis
Key Company Analysis
Regional Analysis
North American
United States
Canada
Europe
UK
Germany
Italy
Spain
France
RoE
Asia-Pacific
India
China
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 S.P.A.
Bradford White Corp.
Crompton Greaves Ltd.
General Electric Company
Haier Electronics Group Co., Ltd.
Himin Solar Group Co., Ltd
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