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The electric water heater market share is expected to increase by USD 6.80 billion from 2021 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.56%.
This electric water heater market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (storage electric water heater and tankless electric water heater), end-user (residential and commercial), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and MEA). The electric water heater market report also offers information on several market vendors, including 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 Smart Home Co. Ltd., and Rinnai Corp. among others.
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The technological innovations in design and higher efficiency are notably driving the electric water heater market growth, although factors such as high operational and installation cost of tankless electric water heaters may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric water heater industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
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This electric water heater market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the electric water heater market encompasses successful business strategies deployed by the key vendors. The electric water heater market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The electric water heater market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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50% of the market's growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), and Japan are the key markets for electric water heaters in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increase in infrastructure spending on commercial projects will facilitate the electric water heater market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The electric water heater market share growth by the storage electric water heater segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the electric water heater market size and actionable market insights on post COVID-19 impact on each segment.
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Electric Water Heater Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.56% |
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Market growth 2021-2025 |
$ 6.80 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.92 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 50% |
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Key consumer countries |
China, US, Japan, South Korea (Republic of Korea), and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Companies profiled |
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 Smart Home Co. Ltd., and Rinnai Corp. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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