(MENAFNEditorial) iCrowdNewswire - Sep 5, 2018
MarketStudyReport.com Adds New Water Heater Market 2018 2024 research report providing information By Product (Solar, Instant [Electric, Gas], Storage [Electric { 400 Liters}, Gas{ 400 Liters}]), By Capacity ( 400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military]), By Fuel (Natural gas, LPG)
Global water heater market is set to expand over USD 30 billion by 2024. Ongoing economic transformation coupled with significant investments toward infrastructure development will positively impact the business growth. Shifting trends toward tourism and hospitality industries along with government initiatives toward the adoption of renewable energy systems will complement the business outlook. For instance, in 2016, the board of world bank group approved USD 50 million ?International Development Association Credit? for Benin?s tourism sector development.
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Scope of Report
U.S. water heater market was valued over USD 2 billion in 2017. Rising concerns toward the impact of fossil fuels on environment & climate change along with growing investments toward renewable energy projects will drive the business growth. In addition, rapid technological advancements in order to achieve energy efficiency and cost effectiveness will further boost the product demand. As per the U.S. Energy Information Administration, in 2017, fossil fuel consumption in the power sector declined 22.5 BTU, the lowest since 1994.
Instant water heater market is predicted to grow on account of limited maintenance requirements and fuel flexibility. In addition, the efficient energy utilization by these systems along with high precision control will augment the product adoption across commercial and residential establishments. Growing demand for quick water supply coupled with their compact size and light weight will increase the deployment of these products.
Considerable increase in urbanization rate coupled with improvement in living standards on account of rising disposable income will accelerate the water heater market growth. In addition, rapid modernization and replacement measures for existing conventional heating systems with an aim to increase energy efficiency will increase the product adoption. According to World Urbanization Prospects, the urban population increased from 53.8% in 2015 to 54.7% in 2017.
Growing consumer awareness toward the operational benefits of advanced heating solutions coupled with improving quality standards will fuel the water heater market growth. Increasing legislative interest toward the adoption of solar powered heating solutions along with progressive enforcement of green building codes will further support the deployment of these systems. For instance, Canada SEIA (Solar Energies Industries Association) in 2014, has aimed to install 100 GWh units of solar heaters by 2025 and 300GWh units by 2030.
Increasing deployment of water heating systems across hotels, healthcare, offices, shopping complexes, universities and public buildings will drive the commercial water heater market. In addition, sizeable investments toward the reinforcement of conventional infrastructure along with technological integrations toward flexible & hybrid heating systems will stimulate the product penetration.
Top Manufacturers in global market are given bellow: A.O Smith, Bradford White, Himin Solar Energy, Chromagen, Sun Tank, Racold, Viessmann, Bosch, V Guard Industries, Linuo Ritter, Rheem Manufacturing and Wagner Solar.
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The above information is provided on a regional and country basis for the following:
U.S., Canada, Mexico, UK, France, Germany, Italy, Australia, Spain, Netherland, Denmark, Finland, Sweden, Norway, Russia, Belarus, Armenia, Kazakhstan, Kyrgyzstan, Azerbaijan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Singapore, Thailand, New Zealand, Philippines, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Turkey, South Africa, Nigeria, Algeria, Egypt, Israel, Cyprus, Lebanon, Iraq, Brazil, Argentina, Chile
Passenger car accounted for the largest Water Heater market share by volume in 2017. High deployment of these active and passive safety in these vehicles is expected to fuel the industry growth. GM, Daimler, Volvo, Ford, Toyota and Honda are some key OEM?s that have already deployed these advanced safety technologies in several car models.
Table of [email protected]
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Commercial Drone Industry Insights
Chapter 4. Competitive Landscape
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