Electric Water Heater Market (Storage Tank Electric Water Heaters and Tankless (On-demand) Electric Water Heaters) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022, the market for electric water heaters is expected to expand at 7.3% CAGR between the forecast period 2015 - 2022.
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Product and Market Insights
Electric water heaters are fast gaining popularity among consumers worldwide. The on-going infrastructural development resulting in increased number of residential and commercial projects have generated demand for range of electric water heaters including storage-tank and heat pump water heaters. The economic recovery post economic instability, especially in the developed economies like North America and Europe is also expected to have positive impact on the market growth as the average commercial and household expenditures is on a rise. On an average, water heating accounts for nearly 20 percent of the energy costs of a residential unit. Taking this into account, the new energy efficiency standards enacted by the governments across the globe are expected to curb the utility bills by 30 to 40 percent depending upon the electric water heater capacity and technology deployed.
Electric water heaters are fast gaining popularity among consumers worldwide. The on-going infrastructural development resulting in increased number of residential and commercial projects have generated demand for range of electric water heaters including storage-tank and heat pump water heaters. The economic recovery post economic instability, especially in the developed economies like North America and Europe is also expected to have positive impact on the market growth as the average commercial and household expenditures is on a rise. On an average, water heating accounts for nearly 20 percent of the energy costs of a residential unit. Taking this into account, the new energy efficiency standards enacted by the governments across the globe are expected to curb the utility bills by 30 to 40 percent depending upon the electric water heater capacity and technology deployed.
Competitive Insights:
The global electric water heaters market is relatively matured. Some of the leading players identified in the electric water heaters market include AO. Smith (the U.S.), Midea Group (China), Rheem Manufacturing Company (the U.S.), and Siemens AG (Germany). Other players including Ariston Thermo S.p.A (Italy), Bajaj Electricals (India), Bradford White (the U.S.), Crompton Greaves (India), Eldominvest Ltd.(Bulgaria), Haier Water Heater (China), Heat Transfer Products Group (the U.S.), Hubbell Water Heaters (the U.S.), Noritz Corporation (Japan), and Rinnai Corporation (Japan) have been identified as some of the emerging and promising players in the electric water heaters market. These players have concentrated their efforts on developing cost-effective, energy efficient electric water heaters. Although the global electric water heater market is relatively matured, product innovation is the go-to business strategy for the manufacturers competing in the market
The global electric water heaters market is relatively matured. Some of the leading players identified in the electric water heaters market include AO. Smith (the U.S.), Midea Group (China), Rheem Manufacturing Company (the U.S.), and Siemens AG (Germany). Other players including Ariston Thermo S.p.A (Italy), Bajaj Electricals (India), Bradford White (the U.S.), Crompton Greaves (India), Eldominvest Ltd.(Bulgaria), Haier Water Heater (China), Heat Transfer Products Group (the U.S.), Hubbell Water Heaters (the U.S.), Noritz Corporation (Japan), and Rinnai Corporation (Japan) have been identified as some of the emerging and promising players in the electric water heaters market. These players have concentrated their efforts on developing cost-effective, energy efficient electric water heaters. Although the global electric water heater market is relatively matured, product innovation is the go-to business strategy for the manufacturers competing in the market
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Key Trends:
• Energy efficient regulations leading to the replacement demand for electric water heaters
• Growing demand for tankless electric water heaters.
• Economic stability post economic recession is resulting in improved residential construction expenditure
• Increased residential and commercial projects
• Growing demand for hot water in hotels and hospitals
• Operating cost issues
• Availability of cheaper models, especially in unorganized markets poses a stiff challenge to the market revenue growth
• Energy efficient regulations leading to the replacement demand for electric water heaters
• Growing demand for tankless electric water heaters.
• Economic stability post economic recession is resulting in improved residential construction expenditure
• Increased residential and commercial projects
• Growing demand for hot water in hotels and hospitals
• Operating cost issues
• Availability of cheaper models, especially in unorganized markets poses a stiff challenge to the market revenue growth
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 End-users USP and Key Offerings
1.2 Research Methodology
1.2.1 Phase I – Secondary Research
1.2.2 Phase II – Primary Research
1.2.3 Phase III – Expert Panel Review
1.2.4 Assumptions
1.2.5 Approach Adopted
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 End-users USP and Key Offerings
1.2 Research Methodology
1.2.1 Phase I – Secondary Research
1.2.2 Phase II – Primary Research
1.2.3 Phase III – Expert Panel Review
1.2.4 Assumptions
1.2.5 Approach Adopted
Chapter 2 Executive Summary
2.1 Market Snapshot: Global Electric Water Heater Market
2.2 Global Electric Water Heater Market, By Product Type, 2014, (US$ Bn)
2.3 Global Electric Water Heater Market, By End-use Application, 2014 (US$ Bn)
2.4 Global Electric Water Heater Market, By Geography
2.1 Market Snapshot: Global Electric Water Heater Market
2.2 Global Electric Water Heater Market, By Product Type, 2014, (US$ Bn)
2.3 Global Electric Water Heater Market, By End-use Application, 2014 (US$ Bn)
2.4 Global Electric Water Heater Market, By Geography
Chapter 3 Market Dynamics
3.1 Electric Water Heater Market Overview
3.1.1 Global Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
3.2 Market Inclination Insights
3.3 Market Drivers
3.3.1 Rise in Commercial and Residential Projects
3.3.2 Rise in Disposable Income
3.4 Market Growth Inhibitors
3.4.1 High Operating Cost
3.5 Opportunity Matrix
3.6 See-Saw Analysis
3.6.1 Impact Analysis of Drivers and Restraints
3.7 Value Chain Analysis
3.8 Attractive Investment Proposition
3.8.1 Attractive Investment Proposition, By Geography, 2015
3.9 Competitive Landscape
3.9.1 Market Positioning of Key Vendors
3.9.2 Key Strategies Adopted by Leading Vendors
3.9.2.1 New Product Development
3.9.2.2 Distribution Network Expansion
3.9.3 Recommendations
3.1 Electric Water Heater Market Overview
3.1.1 Global Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
3.2 Market Inclination Insights
3.3 Market Drivers
3.3.1 Rise in Commercial and Residential Projects
3.3.2 Rise in Disposable Income
3.4 Market Growth Inhibitors
3.4.1 High Operating Cost
3.5 Opportunity Matrix
3.6 See-Saw Analysis
3.6.1 Impact Analysis of Drivers and Restraints
3.7 Value Chain Analysis
3.8 Attractive Investment Proposition
3.8.1 Attractive Investment Proposition, By Geography, 2015
3.9 Competitive Landscape
3.9.1 Market Positioning of Key Vendors
3.9.2 Key Strategies Adopted by Leading Vendors
3.9.2.1 New Product Development
3.9.2.2 Distribution Network Expansion
3.9.3 Recommendations
Chapter 4 Global Electric Water Heater Market Analysis, By Product Type
4.1 Market Analysis
4.1.1 Global Electric Water Heater Market Revenue, By Type, 2014 & 2022 (Value %)
4.2 Storage Electric Water Heaters
4.2.1 Global Storage Electric Water Heaters Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
4.3 Tankless (Non-storage) Electric Water Heaters
4.3.1 Global Tankless (Non-storage) Electric Water Heaters Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
4.1 Market Analysis
4.1.1 Global Electric Water Heater Market Revenue, By Type, 2014 & 2022 (Value %)
4.2 Storage Electric Water Heaters
4.2.1 Global Storage Electric Water Heaters Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
4.3 Tankless (Non-storage) Electric Water Heaters
4.3.1 Global Tankless (Non-storage) Electric Water Heaters Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
Chapter 5 Global Electric Water Heater Market Analysis, By End-use Application
5.1 Market Analysis
5.1.1 Global Electric Water Heater Market Revenue, By End-use, 2014 & 2022 (Value %)
5.2 Residential
5.2.1 Global Electric Water Heater Market Revenue and Growth for Residential Applications, 2013 – 2022, (US$ Bn) (Y-o-Y %)
5.3 Commercial and Industrial
5.3.1 Global Electric Water Heater Market Revenue and Growth for Commercial and Industrial Applications, 2013 – 2022, (US$ Bn) (Y-o-Y %)
5.1 Market Analysis
5.1.1 Global Electric Water Heater Market Revenue, By End-use, 2014 & 2022 (Value %)
5.2 Residential
5.2.1 Global Electric Water Heater Market Revenue and Growth for Residential Applications, 2013 – 2022, (US$ Bn) (Y-o-Y %)
5.3 Commercial and Industrial
5.3.1 Global Electric Water Heater Market Revenue and Growth for Commercial and Industrial Applications, 2013 – 2022, (US$ Bn) (Y-o-Y %)
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Chapter 6 Global Electric Water Heater Market Analysis, By Geography
6.1 North America
6.1.1 North America Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.2 Europe
6.2.1 Europe Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.3 Asia Pacific
6.3.1 Asia Pacific Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.4 Rest of World
6.4.1 Rest of World Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.1 North America
6.1.1 North America Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.2 Europe
6.2.1 Europe Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.3 Asia Pacific
6.3.1 Asia Pacific Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
6.4 Rest of World
6.4.1 Rest of World Electric Water Heater Market Revenue and Growth, 2013 – 2022, (US$ Bn) (Y-o-Y %)
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