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    Water Heater Market | Covid-19 Impact Analysis

    Water Heater Market | Covid-19 Impact Analysis

    Water Heater Market | Covid-19 Impact Analysis
    Report code - SRCG155 Delivery - 2 Weeks
    Water Heater Market Size, Share, Trend, Forecast, & Industry Analysis 
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    Impact of COVID-19 on Water Heater Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Water Heater Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Water Heater Market Insights

    Water heater market is likely to witness a healthy CAGR of 4.3% during the forecast period. The prime factor contributing to the demand for water heaters is the growing residential and commercial construction market.

    Water Heater Market – Snapshot

    Growth

    4.3% for the next five years

    Key Capacity Type

    30-100 Liters

    Dominant Product Type

    Storage

    Lucrative Fuel Type

    Electric

    Major Application Type

    Residential

    Region with the highest demand

    Asia-Pacific

    Key Players

    Robert Bosch LLC, Ariston Thermo SpA, Rheem Manufacturing    Company, Rinnai Corporation, Bradford White Corporation, NORITZ Corporation, Whirlpool Corporation, Haier Inc., and Lennox  International Inc.

     

    Market Share Analysis

    Water-Heater-Market-Dominant-Segments

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    Water Heater Market Share: By Capacity Type

    Based on the capacity type, the market is segmented as <30 liters, 30-100 liters, 100-250 liters, 250-400 liters, and >400 liters. The 30-100 liters segment is expected to maintain its dominance over the forecast period, owing to the high demand from residential as well as commercial establishments, such as hotels, shopping complexes, theatres, and government institutions.

    Water Heater Market Share: By Product Type

    Based on the product type, the market is segmented as instant and storage. The storage segment accounted for the larger share of the market in 2019, and is expected to maintain its command, bolstered by its high energy conversion potential and low maintenance, during the forecast period.

    Water Heater Market Share: By Fuel Type

    Based on the fuel type, the market is segmented as electric and gas. The electric segment captured the larger share of the market in 2019, and is expected to lead the market, supported by growing accessibility to electricity, especially in the Asia-Pacific and African economies, over the forecast period.

    Water Heater Market Share: By Application Type

    Based on the application type, the market is segmented as residential and commercial. The residential segment held the larger share of the pie in 2019, and is likely to remain the vanguard, during the forecast period. The segment’s growth is attributed to the growing residential construction activities across the globe coupled with increasing disposable income.

    Water Heater Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the largest market for water heaters during the forecast period. The region’s market growth is due to increasing electrification, expanding piped gas network, rapid residential and commercial constructions, and growing disposable income of the population. China and India are the growth engines of the region. North America and Europe are also expected to offer promising growth opportunities during the forecast period.

    Water-Heater-Market-By-Region

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    Some of the major players in the water heater market are-

    • Robert Bosch LLC
    • Ariston Thermo SpA
    • Rheem Manufacturing Company
    • Rinnai Corporation
    • Bradford White Corporation
    • NORITZ Corporation
    • Whirlpool Corporation
    • Haier Inc.
    • Lennox International Inc.

     

    Market Scope & Segmentation

    An appliance consisting of a gas or electric heating unit under a tank in which water is heated is called water heater. One of the most important components in the water heaters is the inner container [tank]. By housing the heating element, it stores the hot water. In a way, the inner container [tank] is the heart of the water heater and if the inner container [tank] leaks or corrodes, generally the entire unit needs to be replaced.

    The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Water Heater Market Research Report – Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    9

     

    The water heater market is segmented into the following categories. 

    Water Heater Market Size, Share, & Forecast, by Capacity Type:

    • <30 liters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 30-100 liters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 100-250 liters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 250-400 liters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >400 liters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Water Heater Market Size, Share, & Forecast, by Product Type:

    • Instant (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Storage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Water Heater Market Size, Share, & Forecast, by Fuel Type:

    • Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Water Heater Market Size, Share, & Forecast, by Application Type:

    • Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Water Heater Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Water-Heater-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by capacity type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of Water Heater Market in the foreseeable future?

    The water heater market is expected to witness an impressive growth of 4.3% CAGR in the foreseeable future.

    Who are the key players in the Water Heater Market?

    Robert Bosch LLC, Ariston Thermo SpA, Rheem Manufacturing Company, Rinnai Corporation, Bradford White Corporation, NORITZ Corporation, Whirlpool Corporation, Haier Inc., and Lennox International Inc are among the key players in the water heater market.

    Which country/region is expected to be the largest Water Heater Market?

    Asia-Pacific is estimated to be the largest market for water heaters during the next five years.

    Which application type is expected to be the dominant segment in the Water Heater Market?

    The residential segment is expected to be the dominant application in the water heater market in the coming years.

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