Albany, NY -- (SBWIRE) -- 02/14/2018 -- Electric water heaters having two-way control capabilities with the grid are known as grid interactive water heaters (GIWHs). Energy storage in a GIWH proves to be economical, as its function is similar to a battery energy storage system, but at a much lesser cost. Typically, water usage in the residential sector, which holds the maximum share in the global GIWH market, is higher during mornings and evenings. As GIWH allows water to be heated as and when surplus power is available from the grid, it provides flexibility to the electric supply system and ensures cost savings. In addition, these heaters are a cost-efficient option even at the consumer end, as they pay for the surplus load rate, which is generally cheaper than the normal price. The global GIWH market is segmented based on end-user and geography. The key end-users identified in the report are residential and non-residential segments. The following exhibit represents the current market scenario and future projections of GIWH in each end-user segment.

Technavios analysts forecast the global grid-interactive water heater market to grow at a CAGR of 12.35% during the period 2017-2021.

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Covered in this report
The report covers the present scenario and the growth prospects of the global grid-interactive water heater market for 2017-2021. To calculate the market size, the report considers the new installations/ sales/value and excludes retrofit/replacement/spares/aftermarket/services market.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

Technavio's report, Global Grid-interactive Water Heater Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Steffes
Vaughn Thermal
Other prominent vendors
Dakota Electric Association
Great River Energy
HTP (Everlast)

Market driver
Growing adoption of smart technologies
For a full, detailed list, view our report

Market challenge
Lack of awareness
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Market trend
Growing demand for smart homes and development of smart cities
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?

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