Selbyville, Delaware, Nov. 24, 2020 (GLOBE NEWSWIRE) --

Global water heater market value is poised to surpass USD 28 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Ongoing development of building infrastructure coupled with the rising service sector is anticipated to boost the product installation. Additionally, introduction of strict mandates and norms pertaining to the replacement of existing units with energy efficient heating systems is set to strengthen the business landscape.

Rising consumer spending toward the real estate sector coupled with increasing refurbishment activities of the existing building infrastructure will influence the global water heater industry growth. Growing demand for energy efficient heating equipment along with increasing research, design & development activities combined with product advancements will boost the business landscape. In addition, ongoing government incentive programs for funding the construction of commercial infrastructure comprising airports, hospitals, along with educational institutions is set to encourage the product penetration.   

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The natural gas water heater market will grow owing to efficient heating capability, low operation cost and mass flow. Availability of extensive features to control several functions including temperature control, ignition, and gas flow is set to further encourage the product adoption. Increasing utilization across commercial establishments including hotels, hospitals and resorts among others combined with growing deployment across remote off grid areas is set to stimulate the market statistics. However, stringent guidelines relating to the placement, installation, and safety of the vent pipes might impact the product penetration.

Some major findings of the global water heater market report include:

  • The surge in on demand heating owing to key capabilities that include on demand heating and low power consumption.
  • Development of economical, smart, and technically advanced heating systems to influence the business growth.
  • Ongoing replacement of the conventional storage units throughout commercial and residential applications will drive the industry outlook.
  • Rising demand from the upcoming economies across the Asia Pacific region comprising China, Malaysia and India will strengthen the product demand.
  • Eminent players operating in the global water heater industry consist of Rheem Manufacturing, Panasonic Corporation, Bosch, A.O. Smith, Havells India and Valliant Group, among others.

Browse key industry insights spread across 1300 pages with 2,856 market data tables & 66 figures & charts from the report, “Water Heater Market Analysis By Product (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}, Gas {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), Application (Residential, Commercial [College/University, Offices, Government/Military, Others]), Fuel (Electric, Gas [Natural gas, LPG]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Strict norms and regulations regarding the growing carbon emissions along with ample availability of gas resources is set to influence the European water heater market trends. According to the European Commission, the labelling and eco-Design directives will regulate the water level standards coupled with the upcoming technological advancements with respect to smart control heaters. Seasonal hot water requirements owing to extreme climatic conditions is set to further strengthen the business landscape.

Growing requirement for on demand heating across both commercial & residential establishments owing to cost savings and reduced energy consumption when compared to its counterparts is set to accelerate the industry landscape. Rising adoption of energy efficient heating systems along with increasing product developments by the key industry players is set to strengthen the business scenario.

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Browse Related Report:

Commercial Water Heater Market Statistics By Application (College/University, Offices, Government/Military), Products (Instant, Storage [Electric {<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters}, Gas {<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters}]), By Capacity (<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), Energy Source (Electric, Gas), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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