Water Heaters Global Market Report 2021 - COVID-19 Impact And Recovery

Water Heaters Global Market Report

The Business Research Company’s Water Heaters Global Market Report 2021 - COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, October 28, 2021 /EINPresswire.com/ -- 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. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, an energy star certified water heater saves $3500 over its lifetime.

The global water heaters market size 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 water heaters 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.

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The major players covered in the global 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, Noritz Corp, Crompton Greaves Ltd, Haier Water Heater Co. Ltd, Ariston Thermo SPA, Sun Tank, Alternate Energy Technologies, A.O Smith, Viessmann, Rheem manufacturing, Wagner Solar, Linuo Ritter, Bosch, Racold, V Guard Industries, Himin Solar Energy, Chromagen, Venus Home Appliances, AO Smith, Rheem Manufacturing, Siemens, Ariston Thermo, Bajaj Electricals.

The global water heaters market is segmented by product type into solar heaters, electric heaters, gas and propane heaters, geothermal heaters, by end user into residential, commercial, industrial, by distribution channel into supermarket/hypermarket, specialty stores, e-commerce, others (wholesalers, distributors).

Water Heaters Global Market Report 2021 - By Product Type (Solar Heaters, Electric Heaters, Gas And Propane Heaters, Geothermal Heaters), By End User (Residential, Commercial, Industrial), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, E-Commerce), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides water heaters market overview, forecast water heaters market size and growth for the whole market, water heaters market segments, and geographies, water heaters market trends, water heaters market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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