Global Water Heater Market Overview
Rising concern amongst the people about the energy-efficient systems and rapid infrastructural development are the key drivers for the growth of the Global Water Heater Market. Additionally, the booming tourism sector and rise in the number of hospitals have further fuelled the water heater market. Moreover, encouraging government strategies coupled with subsidies for the installation cost have led to the inclination towards the solar water heater. However, electricity shortage in several nations may act as a challenge to the growth of the water heater market.
According to 6Wresearch, Global Water Heater Market size is expected to witness significant growth during 2019-2025. APAC is the leading region in the global water heater market owing to the growing construction in the residential sector coupled with rapid industrialization and favorable FDI policies. However, over the forecast period, the North America water heater market is anticipated to grow at a substantial rate owing to the rapid service sector growth coupled with rising demand for energy-efficient systems. Moreover, numerous government initiatives such as “China Thirteen Year Plan for Electricity Development”, “Clean Power Plan” of the United States, and “National Solar Mission” of India would further augment the use of renewable sources for energy-efficient systems.
The global water heater market is anticipated to witness growth in the upcoming six years on the back of exponential growth of several industrial sectors such as residential, tourism, and commercial. Moreover, rising awareness of energy optimization would be the major factor driving the demand for water heaters in the coming years owing to the installation of neon indicators which provide the status of water heating and reduce excess heat loss. Additionally, in different regions, developing countries such as India and Brazil coupled with an increase in the electrification projects for the regular availability of electricity is expected to instigate the demand for water heaters and would contribute towards a progressive growth of the Global water heater market in the upcoming years.
Key Highlights of the Report:
- Global Water Heater Market Overview
- Global Water Heater Market Outlook
- Global Water Heater Market Forecast
- Market Drivers and Restraints
- Global Water Heater Market Trends and Industry Life Cycle
- Global Water Heater Market Overview on Competitive Benchmarking
- Company Profiles
- Historical Data of Global Water Heater Revenues for the Period 2015-2018
- Key Strategic Recommendations
- Global Water Heater Market Share, By Regions
- Global Water Heater Market Share, By Players
- Global Water Heater Market Size and Global Water Heater Market Forecast of Revenues and Volume, Until 2025
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