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Global Electric Water Heater Market 2015-2019

Global Electric Water Heater Market 2015-2019

About electric water heaters

Water heaters are one of the major consumers of energy globally. They often exceed the consumption of energy for domestic activities such as cooking, refrigeration, and lighting.

Electric storage tank water heater is the most commonly used appliance for heating water. Low-income households use biofuel, coal, and other sources of energy for heating water, but more affluent households use electricity. Thus, middle-income homes are the highest consumers of electricity for heating water.

Climate and culture play important roles in the need for hot water and dictate its usage. Variations in climate and cultures dictate the type and size of water heaters used in households as well as in commercial establishments.

Technavio's analysts forecast the global electric water heater market to grow at a CAGR of 7.42% over the period 2014-2019.

Covered in this report

The report includes the present scenario and growth prospects of the global electric water heater market for the period 2015-2019. The market can be segmented into storage and tankless electric water heaters.

Technavio's report, Global Electric Water Heater Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market in APAC, Europe, and North America; it also covers the landscape of the global electric water heater market and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.

Key regions

  • APAC
  • Europe
  • North America
Key vendors
  • AO Smith
  • Midea Group
  • Rheem Manufacturing
  • Siemens
Other prominent vendors
  • Ariston Thermo
  • Bajaj Electricals
  • Bradford White
  • Crompton Greaves
  • ELDOMINVEST
  • Ferroli
  • Haier Water Heater
  • Heat Transfer Products
  • Hubbell Water Heaters
  • Noritz
  • Rinnai
  • Vanward Electric
Market driver
  • Rising demand for heat pump heaters
  • For a full, detailed list, view our report
Market challenge
  • Insufficient supply of electricity
  • For a full, detailed list, view our report
Market trend
  • Emergence of smart water heaters
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2019 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?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Electric Water Heater Market 2015-2019

Technavio recognizes the following companies as the key players in the Global Electric Water Heater Market: O. Smith, Midea Group, Rheem Manufacturing and Siemens

Other Prominent Vendors in the market are: Ariston Thermo S.p.A, Bajaj Electricals, Bradford White, Crompton Greaves, ELDOMINVEST, Ferroli, Haier Water Heater, Heat Transfer Products, Hubbell Water Heaters, Noritz, Rinnai, and Vanward Electric.

Commenting on the report, an analyst from Technavio’s team said: “Technical innovation may lead to the collection of real-time data from sensors embedded in water heaters. This results in IoT-enabled devices (smart water heaters coupled with mobile apps in smartphones) that log real-time information about usage, temperatures, energy consumption, and malfunctioning in water heaters. Civic infrastructure, sensors, and interconnectivity can enable IoT, which may be designed to control thermostats, water heaters, and electric vehicles among other things. ”

According to the report, economic growth drives most markets, and the real estate sector is no exception. For instance, the growing UAE economy and employment numbers thereof suggest that the prime residential market in the Emirates should expand despite market controls such as newly introduced mortgage caps.

Further, the report states that rising prices of electricity and natural gas are forcing end-users to use solar water heaters, which is a challenge for the global electric water heater market.

Companies Mentioned

O. Smith, Midea Group, Rheem Manufacturing, Siemens, Ariston Thermo S.p.A, Bajaj Electricals, Bradford White, Crompton Greaves, ELDOMINVEST, Ferroli, Haier Water Heater, Heat Transfer Products, Hubbell Water Heaters, Noritz, Rinnai, Vanward Electric.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global electric water heater market
    • Market size and forecast
      • Table Global electric water heater market 2015-2019 ($ billions)
    • Five forces analysis
  • Market segmentation by product
    • Market overview
      • Table Market segmentation by product type 2014-2019
    • Global storage electric water heater market
      • Table Global storage electric water heater market 2014-2019 ($ billions)
    • Global tankless electric water heater market
      • Table Global tankless electric water heater market 2014-2019 ($ billions)
  • Market segmentation by end-users
    • Market overview
      • Table Market segmentation by end-users 2014-2019
    • Global electric water heater market by end-users: Residential segment
      • Table Global electric water heater market by end-users: Residential segment 2014-2019 ($ billions)
    • Global electric water heater market by end-users: Commercial segment
      • Table Global electric water heater market by end-users: Commercial segment 2014-2019 ($ billions)
  • Geographical segmentation
    • Global electric water heater market by geography 2014-2019
      • Table Global electric water heater market by geography 2014-2019
    • Electric water heater market in APAC
      • Table Electric water heater market in APAC 2014-2019 ($ billions)
    • Electric water heater market in Europe
      • Table Electric water heater market in Europe 2014-2019 ($ billions)
    • Electric water heater market in North America
      • Table Electric water heater market in North America 2014-2019 ($ billions)
  • Market drivers
    • Rising demand for heat pump water heaters
      • Table Comparison of water heaters by fuel type
    • Demand for tankless water heaters
    • Development of residential housing sector
      • Table International house prices (YoY percentage change)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Insufficient/inconsistent supply of electricity
      • Table World electricity consumption per capita (kWh)
      • Table Electricity prices for US residential and commercial sectors (cents per kWh)
      • Table Electricity prices for residential and commercial usage in Europe
    • Emergence of renewable energy fuels
      • Table Global solar water heater market ($ billions)
      • Table Global water heater market 2014-2019
    • Evolving regulatory standards
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Emergence of smart water heaters
    • Integration with IoT
    • Rising number of M&A transactions
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
  • Key vendor analysis
    • AO Smith
      • Table Business segmentation 2014 by revenue
      • Table Business segmentation by revenue 2013 and 2014 ($ billions)
    • Midea Group
      • Table Business segmentation 2014 by revenue
      • Table Product segmentation by revenue by 2014
      • Table Geographical segmentation by revenue 2014
    • Rheem Manufacturing
      • Table Business segmentation
    • Siemens
      • Table Business segmentation by revenue 2014
      • Table Business segmentation by revenue 2013 and 2014
      • Table Geographical segmentation by revenue 2014
  • Appendix
    • List of abbreviations
  • Explore Technavio

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