Electric Water Heater Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

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?

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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.

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.

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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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