The global water heater devices market was valued at US$ 37.8 Bn in 2014 and is expected to expand at a CAGR of 4.9% by 2021. Increasing R&D initiatives by international and regional players for development of innovative and efficient water heaters is leading to competitiveness in the market. This is further expected to fuel market growth during the forecast period.
Albany, NY -- (SBWIRE) -- 08/01/2016 -- Appliances that utilize different energy sources to heat water above its initial temperature in order to provide water in the different range of temperatures are called water heaters. Water heaters are widely used in many domestic applications such as cooking, bathing, cleaning, and space heating. Water heaters also find wide applications in the manufacturing industries such as chemicals, food and beverages processing, and thermal power plants. Water heaters utilize various energy sources, such as gas, electric, solar, and geothermal, to heat and supply hot water.
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The global water heater market is driven by factors such as a development of hybrid solutions in order to cater to the demand for energy-efficient, high-performance, and easy to install water heaters, rising popularity of renewable technologies, and replacement of old tanks, among others. Strategic alliances by players across the value chain of the market are playing a key role in catering to the demand for water heaters across the domestic markets.
The global water heater market report begins with an overview of different types of water heaters and fuel types used in water heaters. This section also includes PMR's analysis of key trends, drivers, and restraints, which are influencing the water heater market currently. This report covers the water heater market performance in terms of revenue and volume contribution. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in this report on the water heater market across various regions, to better equip clients with crystal clear decision-making insights.
In the final section of the report, the global water heater market landscape is included to provide report audiences with a dashboard view, based on categories of providers in the global water heater market and their product portfolio; their key developments and strategies have also been included wherever possible.
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Key players profiled in this report on the global water heater market include Venus Home Appliances (P) Ltd., AO Smith Corporation, Rheem Manufacturing Co., Siemens AG., HTP Inc., Ariston Thermo SPA., Bajaj Electricals Ltd., Bradford White Corp., Haier Electronics Group Co., Ltd., Noritz Corp., and Rinnai Corp. Also, China-based manufacturers covered in the report include Zhejiang KANCHQUAN Electric Appliance Co., Ltd, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Genrui, Himin Solar Co., Ltd, and Zhongshan Inse Group Co, Ltd. These key market players' profiles include various attributes such as company overview, recent developments, and growth strategies.
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