Grid-interactive Water Heater Market by End-user and Geography - Forecast and Analysis 2021-2025

Published: Dec 2020 Pages: 120 SKU: IRTNTR46488

The grid-interactive water heater market size has the potential to grow by USD 56.13 million during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.68%. 

This report provides a detailed analysis of the market by end-user (residential and non-residential), geography (North America, Europe, APAC, South America, and MEA), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including: 

 

  • Ariston Thermo Spa
  • Dakota Electric Association
  • Great River Energy
  • Otter Tail Corp.
  • Steffes LLC
  • Vaughn Thermal Corp.

 

The grid-interactive water heater market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as growth in energy consumption to achieve growth opportunities. However, factors such as capital intensive nature of the market will challenge the growth of the market participants. 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.

Download a free sample of the grid-interactive water heater market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This grid-interactive water heater market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Grid-interactive Water Heater Market: Key Drivers and Trends

  • The growth in energy consumption is one of the primary factors that will fuel the growth of the grid-interactive water heater (GIWH) market in the coming years. 
  • As renewable power is mostly intermittent in nature, it gives rise to instability in the generation. GIWH provides demand-side flexibility, thus stabilizing the grid. 
  • The growing population and economic growth are expected to drive the consumption of electricity.
  • As a result, more renewable power will come online, and grids will face extra load.
  • With increased consumption of energy, the demand for grid-interactive water heater will also grow.
  • The evolution of smart grid is one of the key trends contributing towards the grid-interactive water heater market. 
  • Smart grids witness huge demand as they are sustainable, secure, and economical. 
  • Smart grids offer convergence of an analog or digital information, computer-based remote control, and automation to electric networks.
  • Smart grids have highest demand from APAC region and Gulf region which is expected to drive the grid enabled water heater market positively.
  • Smart grids have the unique capability of reducing peak load and is grid interactive due to which it is witnessing huge demand from across the world.

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Grid-interactive Water Heater Market: Segmentation by Geography

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86% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for grid-interactive water heaters in North America. However, market growth in this region will be slower than the growth of the market in Europe and South America.

The investments in the residential sector is one of the prime factors that will facilitate the grid-interactive water heater market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Grid-interactive Water Heater Market: Segmentation by End-user

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Grid-interactive water heater is mainly used in the residential segment as it is used for bathing, cleaning, and cooking. Fast-paced industrialization in developing countries will also impact this market positively. Owing to the growing middle-class population and increasing disposable incomes, this segment is expected to drive the grid enabled water heater market during the forecast period. Therefore, the growth of the market segment is expected to be significant throughout the forecast period.

However, the post COVID19 impact has brought forth a slowdown in the residential segment for the product like water heaters. Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the grid-interactive water heater market size.   

 

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Grid-interactive Water Heater Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive grid-interactive water heater market growth during the next five years
  • Precise estimation of the grid-interactive 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 grid-interactive water heater industry across North America, Europe, APAC, 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 grid-interactive 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

    • 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 End-user

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

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - 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

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Ariston Thermo Spa
    • Dakota Electric Association
    • Great River Energy
    • Otter Tail Corp.
    • Steffes LLC
    • Vaughn Thermal 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.

    INFORMATION 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

    DATA 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

    REPORT WRITING

    Qualitative

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

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape

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    Key Questions Answered

    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?

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    • Detailed vendors report with competitive landscape
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    • Data on revenue-generating market segments
    • Details on the market shares of various regions
    • Five-force market analysis