Electric Water Heaters Market Analysis, Industry Trends, Strategies and Forecast, 2012 to 2022

Hexa Research Inc.

Industry Research,Custom Research & Consulting

Electric Water Heaters Market Analysis, Share, Regional

Outlook, Industry Trends, Competitive Strategies And

Segment Forecast, 2012 To 2022

Industry Overview

Global electric water heaters market size is anticipated to reach USD 29 billion by 2022, growing at 7.4%

over the forecast period. Growing commercial and residential projects coupled with increasing

disposable income is expected to drive demand growth over the next few years.

Escalating demand across extensive range of domestic applications such as cooking, space heating,

cleaning and bathing may spur demand extensively. Rising adoption in commercial sector is another key

factor spurring demand growth. Increasing growth in construction sectors owing to replacement of

outdated water heaters with escalating disposable income could propel industry growth in the near

future. According to the U.S., home construction in April 2015 rose 20.2% over March, the biggest

percentage jump in almost 24 years. These factors might significantly contribute to the electric water

heaters market growth. China region accounted for 12 million units in 2013, and is expected to reach 27

million units by 2022, growing at a CAGR of over 9%.

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Hexa Research Inc.

Industry Research,Custom Research & Consulting

Evolving urban lifestyle, increasing income levels and growing disposable income stimulates customers

to spend on consumer utilities like electric water heaters. Additionally, enhanced standard of living and

upsurge in consumer awareness pertaining to water heaters benefits may drive the global demand

substantially. Technological advancements and innovations are making provisions for efficient & cheap

water heaters, subsequently driving market demand extensively. Changing trends towards safety safe is

a key force driving the...