Water Heater Market Value to Increase by $ 2.76 Billion During 2020-2024 | Includes Post-Pandemic Recovery Analysis | Technavio

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Technavio has been monitoring the water heater market and it is poised to grow by USD 2.76 billion during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Water Heater Market 2020-2024 (Graphic: Business Wire)

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the water heater market. The market growth in 2020 is likely to increase in 2020 compared to market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by end-user, which is the leading segment in the market?
    The residential segment led the market in 2019.

  • What are the major trends in the market?
    Increasing demand for water heaters from the commercial end-user segment is one of the major trends in the market.

  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of over 2% during the forecast period.

  • Who are the top players in the market?
    A. O. Smith Corp., Ariston Thermo Spa, Bradford White Corp., Guangdong Vanward New Electric Co. Ltd., Haier Smart Home Co. Ltd., Midea Group Co. Ltd., Noritz Corp., Rheem Manufacturing Co., Rinnai Corp., and Robert Bosch GmbH are the top players in the market

  • What are the key market drivers and challenges?
    The market is driven by the increasing demand for tankless water heaters. However, high installation and maintenance costs might hamper growth.

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View market snapshot before purchasing

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A. O. Smith Corp., Ariston Thermo Spa, Bradford White Corp., Guangdong Vanward New Electric Co. Ltd., Haier Smart Home Co. Ltd., Midea Group Co. Ltd., Noritz Corp., Rheem Manufacturing Co., Rinnai Corp., and Robert Bosch GmbH are some of the major market participants. Although the increasing demand for tankless water heaters will offer immense growth opportunities, high installation and maintenance costs are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this water heater market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Water Heater Market 2020-2024: Segmentation

Water Heater Market is segmented as below:

  • End-user

    • Residential

    • Commercial

    • Industrial

  • Geography

    • APAC

    • North America

    • Europe

    • South America

    • MEA

  • Type

    • Electric

    • Gas

    • Solar

  • Distribution channel

    • Supermarket

    • Online

    • Other Offline

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR45617

Water Heater Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The water heater market report covers the following areas:

  • Water Heater Market Size

  • Water Heater Market Trends

  • Water Heater Market Industry Analysis

This study identifies the increasing demand for water heaters from the commercial end-user segment as one of the prime reasons driving the Water Heater Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Water Heater Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist water heater market growth during the next five years

  • Estimation of the water heater market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the water heater market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of water heater market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem

  • Market characteristics

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five force summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by End-user

  • Market segments

  • Comparison by End-user

  • Residential - Market size and forecast 2019-2024

  • Commercial - Market size and forecast 2019-2024

  • Industrial - Market size and forecast 2019-2024

  • Market opportunity by End-user

Market Segmentation by Distribution channel

  • Market segments

Market Segmentation by Type

  • Market segments

  • Comparison by Type

  • Electric - Market size and forecast 2019-2024

  • Gas - Market size and forecast 2019-2024

  • Solar - Market size and forecast 2019-2024

  • Market opportunity by Type

Customer Landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Competitive scenario

  • Vendor landscape

  • Landscape disruption

  • Industry risks

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • A. O. Smith Corp.

  • Ariston Thermo Spa

  • Bradford White Corp.

  • Guangdong Vanward New Electric Co. Ltd.

  • Haier Smart Home Co. Ltd.

  • Midea Group Co. Ltd.

  • Noritz Corp.

  • Rheem Manufacturing Co.

  • Rinnai Corp.

  • Robert Bosch GmbH

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201126005454/en/

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