Selbyville, Delaware, July 28, 2020 (GLOBE NEWSWIRE) --

Asia Pacific water heater market value is poised to cross USD 9 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Increased consumer spending, shifting customer focus on smart heating equipment, improved living standards coupled with enhanced number of distribution centers being set up in the Tier 2 cities is set to strengthen the product penetration. Additionally, longer lifespan, availability of the equipment in multiple capacity ranges, and minimal maintenance are the key characteristics affecting the business landscape.

Large scale expansion of the commercial infrastructure development in the developing countries coupled with rising trend of urban migration will lead to greater installation of heating appliances, thereby influencing the commercial segment of Asia Pacific water heater industry outlook. Growing research & development activities along with swift shift in focus of the industry players & manufacturers on smart and advanced equipment development will further augment the business landscape.

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30-100 liters heating systems is anticipated to rise on account of increasing deployment across various multifamily apartments coupled with small scale industry growth. Increasing investments from International Development Organizations (IDOs) and World Bank will positively influence the product demand. Rising number of rural electrification projects by the state & regional governments in the emerging economies will drive the industry statistics.

The major findings of the Asia Pacific water heater market report include:

  • The increasing demand of water heaters in the region owing to greater adoption in commercial & residential sectors.
  • Ongoing expansion of the building infrastructure combined with growing number of smart city projects will augment the demand across the region.
  • Eminent players operating in the Asia Pacific water heater industry include A.O. Smith, Deka, Alpha Electric, Bajaj, Rheem Manufacturing, Racold, and Ariston Thermo.
  • The key players are expanding their existing distribution channels to provide with innovative product developments.

Browse key industry insights spread across 435 pages with 547 market data tables & 48 figures & charts from the report, “Asia Pacific Water Heater Market Data 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}]), Capacity (<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), Application (Residential, Commercial), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

The outbreak of corona virus, also known as COVID-19, has led to a global pandemic which has affected the global economy. It continues to impact numerous industries including various construction & component manufacturing among others. In addition, there are numerous challenges being faced by the manufacturing facilities to resume production operations owing to the ongoing labor shortages. However, development & expansion of the healthcare facilities to combat the virus is further set to enhance the product penetration.

Thailand market is anticipated to achieve more than 5% CAGR through 2026. Large scale adoption of high-end, and smart products, growing technological product advancements is set to augment the product installation. Growing hot water requirement across various domestic applications including cooking, cleaning & personal hygiene coupled with reduction in electricity bills owing to use of energy efficient models will drive the business growth. Moreover, rising concerns regarding carbon dioxide emissions along with growing demand for clean fuel is set to enhance the Asia Pacific water heater market outlook.

Substantial initiatives by the industry manufacturers including mergers & acquisitions & joint ventures will encourage the product adoption. New product developments comprising Wi-fi integration, remote sensing & management, along with leakage detection options will boost the industry landscape. Growing investments by both private and government institutions combined with shifting trend toward low cost manufacturing is set to offer competitive pricing. In addition, the companies are involved with various international business expansion initiatives comprising enhancing the number of distribution channels to gain a competitive edge over the other industry players.       

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Instant Water Heater Industry Analysis By Energy Source (Electric, Gas {Natural Gas, LPG}), Application (Residential, Commercial {College/University, Office, Government/Military}), Industry Analysis Report, Regional Outlook, Application Potential, 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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