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Electric Water Heater Market by Product, End-user, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71316
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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.

What will the Electric Water Heater Market Size be in 2021?

Download the Free Report Sample to Unlock the Electric Water Heater Market Size for 2021 and Other Important Statistics

 

Electric Water Heater Market: Key Drivers and Trends

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.

  • One of the key factors driving growth in the electric water heater market is the technological innovations in design and higher efficiency.
  • The increased sales of tankless electric water heaters in residential and commercial establishments influenced the vendors to launch products that meet the evolved design choices of customers.
  • Vendors are incorporating technological advances in tankless electric water heaters, especially in terms of efficiency, such as incorporating new features for easy installation, operation, and maintenance.
  • The rising competency among manufacturers in the global tankless electric water heater market will lead to increased innovation and product offerings.
  • The government initiatives promoting energy-efficient water heating solutions is another major factor supporting the electric water heater market share growth.
  • Various regional and national regulatory bodies have imposed new regulations on HVAC equipment in the wake of growing environmental awareness.
  • The high energy consumption during the water heating process has encouraged many countries to frame stringent policies and directives to increase energy-efficiency standards.
  • The stringent policies and directives are expected to increase the replacement demand for water heaters.
  • The implementation of innovative energy-efficient water heaters will help end-users obtain a high ROI.

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.

Who are the Major Electric Water Heater Market Vendors?

The report analyzes the market’s competitive landscape and 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.
  • Rinnai Corp.

 

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. 

Which are the Key Regions for Electric Water Heater Market?

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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.

What are the Revenue-generating Product Segments in the Electric Water Heater Market?

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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.

 

Electric Water Heater Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.56%

Market growth 2021-2025

$ 6.80 billion

Market structure

Fragmented

YoY growth (%)

4.92

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 50%

Key consumer countries

China, US, Japan, South Korea (Republic of Korea), and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

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.

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

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Factors Covered in this Electric Water Heater Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric water heater market growth during the next five years
  • Precise estimation of the electric water heater market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric water heater industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric water heater market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Storage electric water heater - Market size and forecast 2020-2025
    • Tankless electric water heater - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Residential - Market size and forecast 2020-2025
    • Commercial - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Market Segmentation by Distribution channel

    • Market segments
    • Comparison by Distribution channel
    • Offline - Market size and forecast 2020-2025
    • Online - Market size and forecast 2020-2025
    • Market opportunity by Distribution channel

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 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.
      • Rinnai Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      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.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      The electric water heater market growth will increase by $6809.45 million during 2020-2025.
      The electric water heater market is expected to grow at a CAGR of 5.56% during 2020-2025.
      Technavio has segmented the electric water heater market by product (Storage electric water heater and Tankless electric water heater) ,end user (Residential and Commercial) , and distribution channel (Offline and Online).
      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., Rinnai Corp. are a few of the key vendors in the electric water heater market.
      APAC will register the highest growth rate of 49.77% among the other regions. Therefore, the electric water heater market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Japan
      • South Korea (Republic of Korea)
      • UK
      The key factors driving the electric water heater market growth are:
      • Technological innovations in design and higher efficiency
      The electric water heater market vendors should focus on grabbing business opportunities from the storage electric water heater segment as it accounted for the largest market share in the base year.
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