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Extensive research carried out by the analysts at Technavio has shown that the global geysers market to grow impressively at a CAGR of more than 8% over the forecast period. With the increasing demand for tankless geysers, the geysers market is anticipated to have a positive outlook in the coming years. Based on energy consumption, tankless geysers are categorized into electric tankless geysers and gas tankless geysers. Tankless geysers are heavy burners and quickly heats water flowing through a heat exchanger. As a result, these devices were found to be 22% more energy efficient in laboratory tests than gas-powered storage-tank models. A typical electric-resistance tankless geyser with an energy factor of 0.99 consumes approximately 4,435 kilowatt-hours per year which translates into nearly 9% energy savings in comparison to a 50-gallon electric-resistance storage geyser with an energy factor of 0.90. Moreover, the tankless geyser market is gaining traction in North America as technical advancements over the last few years have boosted the capacity of such geysers up to 3.5 gallons per minute.
One of the emerging trends spurring the growth prospects of this market is the augmented demand for hybrid geysers. Hybrid geysers combine the technology of tank and conventional tankless geysers resulting in less overall energy consumption. For example, A. O. Smith introduced its hybrid model, Vertex Power-Vent Gas Water Heater, which is a hybrid geyser that operates at a 90% efficiency. Therefore, the energy saving properties of hybrid geyser will lead to its increased adoption over the next four years.
The residential segment dominated the market and accounted for close to 67% of the market share during 2015. Storage geysers are commonly used in residential applications as they can store up to 2-110 gallons of water so they can continuously supply hot water at all times. Such geysers are popular in developing countries which have inconsistent power supplies. With a booming residential construction sector in countries like India and China, this segment is envisaged to post a steady growth over the next four years.
In terms of geography, EMEA led the global geysers market and is expected to reach over USD 26 billion by 2020. Storage geysers have the largest market in European nations as the residential geysers market in Europe has attained maturity.
The global geysers market is highly competitive and fragmented due to the presence of several local and regional vendors operating out of North America, Europe, and APAC. The competition prevailing in the market depend on the product type, end-users, and also by region. The vendor competition is expected to intensify as prominent international players are consolidating their footprints through mergers and acquisitions.
Key vendors in this market are -
Other prominent vendors in this market are Ariston Thermo, Bosch, Crompton Greaves, Eccotemp Systems, Eldominvest, Electrolux, Haier, Heat Transfer Products, Hubbell, Midea Group, Noritz, and Rinnai.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by storage
PART 07: Market segmentation by end-user
PART 08: Market segmentation by product type
PART 09: Geographical segmentation
PART 10: Key leading countries
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Key vendor analysis
PART 18: Appendix
PART 19: Explore Technavio
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