DUBLIN, Jun 15, 2021--(BUSINESS WIRE)--The "Water Heaters Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Water Heaters Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global water heaters market as it emerges from the COVID-19 shut down.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider water heaters market, and compares it with other markets.
Major players in the water heaters market are Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc, Bradford White Corp and Noritz Corp.
The global water heaters market is expected to grow from $38.59 billion in 2020 to $42.68 billion in 2021 at a compound annual growth rate (CAGR) of 10.6%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $62.05 billion in 2025 at a CAGR of 10%.
Rapid Urbanization is expected to contribute to the growth of the water heaters market in the forecast period. According to the world economic forum (WEF) (2020), urban populations made up the highest share in Northern American countries with 83.6 percent of residents lived in cities and 56.2 percent of the world population was urban. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for water heaters.
Rising electricity prices are expected to limit the growth of the water heater market in the forecast period. Globally, electricity prices are rising due to increasing transmission costs. In 2019, Australian government announced a price hike of AUD50 for all households in Victoria, starting from 2020. Rising electricity prices coupled with the rising power outages, and high installation costs of solar water heaters will limit the growth of the water heaters market.
The water heaters market covered in this report is segmented by type into solar heaters, electric heaters, gas and propane heaters, geothermal heaters. It is also segmented By End User into residential, commercial, industrial. It is also segmented by distribution channel into supermarket/hypermarket, specialty stores, E-commerce, others (wholesalers, distributors).
Water heater manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology.
Key Topics Covered:
1. Executive Summary
2. Water Heaters Market Characteristics
3. Water Heaters Market Trends and Strategies
4. Impact of COVID-19 on Water Heaters
5. Water Heaters Market Size and Growth
5.1. Global Water Heaters Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Water Heaters Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Water Heaters Market Segmentation
6.1. Global Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Gas and Propane Heaters
6.2. Global Water Heaters Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Others (Wholesalers, distributors)
7. Water Heaters Market Regional and Country Analysis
7.1. Global Water Heaters Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Water Heaters Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Bajaj Electricals Ltd
Rheem Manufacturing Co
Heat Transfer Products Inc
Bradford White Corp
Crompton Greaves Ltd
Haier Water Heater Co. Ltd
Ariston Thermo SPA
Alternate Energy Technologies
V Guard Industries
Himin Solar Energy
Venus Home Appliances
For more information about this report visit https://www.researchandmarkets.com/r/b1enq1
View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005656/en/
Laura Wood, Senior Press Manager
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