Press release
Water Heater Market Trends, Growth, Size, Share, Industry Analysis and Forecast 2025
The global water heater market size was valued at USD 17,772 million in 2018 and expected to grow at a CAGR of 5.7% during the forecast period. A water heater is an apparatus used for heating and usually storing the water for domestic and commercial application. Generally, a water heater has a water source unit, a heating device & power source, and a water supply system. The heating device consists of heating coils with which heat is exchanged from coil to water. Factors augmenting the water heater device market is increasing the disposable income of the people along with improving the standard of living.
Get Sample Copy of Water Heater Market at: https://www.omrglobal.com/request-sample/water-heater-market
Some of the key players operating in the global water heater market are A. O. Smith Corp., Ariston Thermo SPA, Bradford White Corp., Crompton Greaves Ltd., General Electric Co., Haier Electronics Group Co., Ltd., Noritz Corp., Rheem Manufacturing Company, Rinnai Corp., and Siemens AG.
Government subsidiaries regarding the energy efficient water heater for the domestic and industrial purpose are also augmenting the market. Increasing commercialization globally especially in emerging economies is also one of the major factors for increasing market. Commercial places such as hotels, hospitals, Spa have a huge application of water heater. Significant commercialization has been observed globally. As per WHO, about 54% population were living in the urban area in 2014 which was only 34% in 1960. The percentage is expected to further go up in upcoming years. It is expected that the global urban population will grow with 1.84% per year from 2015 to 2020 and 1.63% per year from 2020 to 2025.
For More Information, get A full report of Water Heater Market is available at: https://www.omrglobal.com/industry-reports/water-heater-market
Rising adoption of solar water heater is a significant opportunity for augmenting the solar heater market. The cost of heated water is very less compared to other water heaters. However, the solar water heater has a comparatively high installation cost and requires more space for installing the solar panels. Less penetration in developing and under-developed economies is also one of the major factors restraining the market.
Global water heater market is segmented by energy source, mode of water supply and end-user. By energy source, the market is segmented into gas, electricity, hybrid, and solar. Electricity water heaters are widely accepted whereas solar is expected to have a significant market growth due to it being eco-friendly and energy conservation products. By mode of water supply, the market has been segmented into on-demand or tankless water heater and storage or tank water heater. Tank water heater is further segmented into water heater of 0-20 liters, 20-50 liters, and more than 50 liters. Tank water heater of 0-20 liter is expected to have a major market share due to high usage in domestic and commercial usage. By end-user, the market has been divided into residential, commercial and industrial. As expected, residential will show significant market growth during the forecast period.
Market Segmentation
Global Water Heater Market by Energy Source
o Gas
o Electricity
o Hybrid
o Solar
Global Water Heater by Mode of Water Supply
o On-Demand or Tank-Less Water Heater
o Storage or Tank Water Heater
Global Water Heater Market by End-User
o Residential
o Commercial
o Industrial
For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/water-heater-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit https://www.omrglobal.com/
Get Sample Copy of Water Heater Market at: https://www.omrglobal.com/request-sample/water-heater-market
Some of the key players operating in the global water heater market are A. O. Smith Corp., Ariston Thermo SPA, Bradford White Corp., Crompton Greaves Ltd., General Electric Co., Haier Electronics Group Co., Ltd., Noritz Corp., Rheem Manufacturing Company, Rinnai Corp., and Siemens AG.
Government subsidiaries regarding the energy efficient water heater for the domestic and industrial purpose are also augmenting the market. Increasing commercialization globally especially in emerging economies is also one of the major factors for increasing market. Commercial places such as hotels, hospitals, Spa have a huge application of water heater. Significant commercialization has been observed globally. As per WHO, about 54% population were living in the urban area in 2014 which was only 34% in 1960. The percentage is expected to further go up in upcoming years. It is expected that the global urban population will grow with 1.84% per year from 2015 to 2020 and 1.63% per year from 2020 to 2025.
For More Information, get A full report of Water Heater Market is available at: https://www.omrglobal.com/industry-reports/water-heater-market
Rising adoption of solar water heater is a significant opportunity for augmenting the solar heater market. The cost of heated water is very less compared to other water heaters. However, the solar water heater has a comparatively high installation cost and requires more space for installing the solar panels. Less penetration in developing and under-developed economies is also one of the major factors restraining the market.
Global water heater market is segmented by energy source, mode of water supply and end-user. By energy source, the market is segmented into gas, electricity, hybrid, and solar. Electricity water heaters are widely accepted whereas solar is expected to have a significant market growth due to it being eco-friendly and energy conservation products. By mode of water supply, the market has been segmented into on-demand or tankless water heater and storage or tank water heater. Tank water heater is further segmented into water heater of 0-20 liters, 20-50 liters, and more than 50 liters. Tank water heater of 0-20 liter is expected to have a major market share due to high usage in domestic and commercial usage. By end-user, the market has been divided into residential, commercial and industrial. As expected, residential will show significant market growth during the forecast period.
Market Segmentation
Global Water Heater Market by Energy Source
o Gas
o Electricity
o Hybrid
o Solar
Global Water Heater by Mode of Water Supply
o On-Demand or Tank-Less Water Heater
o Storage or Tank Water Heater
Global Water Heater Market by End-User
o Residential
o Commercial
o Industrial
For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/water-heater-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit https://www.omrglobal.com/
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