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Among application, the residential segment held a considerable share in the market owing to growing requirement of hot water for residential applications such as cleaning, bathing, and others have augmented the demand for water heater. There has been increased importance of water heaters among residential users. For instance, the shipment of residential electric storage water heaters increased 2% in October 2018 to 341,572 units, which is increased from 334,901 units shipped in October 2017 (according to Air Conditioning, Heating & Refrigeration Institute (AHRI). The demand for residential electric storage water heaters is growing significantly as they are usually cost-effective to operate than other water heaters. Moreover, the government is working towards encouraging consumers to use energy-efficient water heaters that can support to save energy, thus contribute in the growth of the market.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Electric Water Heater Market by Product Type
- Tankless Water Heater
- Storage Water Heater
Global Electric Water Heater Market by Application
- Residential
- Commercial
- Industrial
Regional Analysis
- North America
- United States
- copyright
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- 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 electronics group Co., Ltd.
- HTP Comfort Solutions LLC
- Havells India Ltd.
- Hangzhou Kangquan Water Heater Co., Ltd.
- Hubbell Electric Heater Co.
- Marey Heater Corp
- Robert Bosch GmbH
- Rheem Manufacturing Company, Inc.
- Racold Thermo Pvt. Ltd.
- Stiebel Eltron, Inc.
- Transform Holdco LLC (Kenmore)
- Venus Home Appliances (P) Ltd.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric water heater market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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