Market Overview:
The global domestic hot water storage tank market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for domestic hot water tanks in homes and apartments across the globe. In addition, the growing awareness about energy-efficient appliances is also propelling the growth of this market. The global domestic hot water storage tank market can be segmented on the basis of type into mild steel, stainless steel, and other types. Mild steel tanks are expected to dominate this market during the forecast period owing to their low cost and easy installation process. However, stainless steel tanks are gaining popularity due to their corrosion resistance properties and longer life span as compared with mild steel tanks.
Product Definition:
A hot water storage tank (HWST) is a container used to store heated water for domestic purposes. Domestic hot water storage tanks are typically cylindrical, vertical, or horizontal pressure vessels made of steel or copper.
Mild steel:
Mild steel is a low carbon, low alloy structural steel. It contains less than 0.25% carbon and no more than 2% iron and occupies less volume in comparison to other steels of the same grade. The growth factor for mild steel is approximately 1.4 times higher compared to that of hard steels; however, it costs much lower in comparison to high strength steels which have around 4 times higher growth factor (as per ISSBell standards).
Stainless steel:
Stainless steel is a type of metal that has high resistance to corrosion. It is characterized by having a higher number of carbon atoms than iron and low melting point. The material is widely used in the manufacturing of kitchenware, cookware, tableware, building & construction materials and automotive components due to its characteristics such as durability and easy maintenance.
Application Insights:
The global demand for GHW storage tank has witnessed a paradigm shift due to rising awareness among consumers. Consumers are now more inclined towards the purchase of domestic hot water tanks as they provide ease in handling and storing of water. The aforementioned factors have resulted in segmentalization of the market into two categories, namely, home and apartment based systems.
The home category is further divided into single-family houses/duplexes/townhouses and multi-family houses such as apartments or high rise buildings with more than 20 units. In addition to this, there are other applications such as commercial building that use large capacity tanks for heating purposes which can be used across multiple floors within a building or at ground level where central heating system is not feasible or economical to install.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of manufacturers, which indicates a high level of competition. This is also attributed to the availability of low-priced products as compared to Europe and North America.
The demand for domestic hot water storage tanks in Europe was valued at USD X million in 2017 owing to increasing awareness regarding energy efficiency coupled with rising concerns over peak oil production levels and climate change caused by carbon emissions from fossil fuels such as gas, coal, and petroleum coke ovens used for heating purposes.
Growth Factors:
- Increasing demand for domestic hot water storage tanks from the residential sector due to growth in population and rising income levels.
- Rapid urbanization and growing construction activities across the globe are expected to boost the demand for domestic hot water storage tanks in the near future.
- Growing popularity of solar thermal systems is another key factor that is anticipated to fuel the growth of global domestic hot water storage tank market in coming years.
- Rising awareness about energy conservation coupled with stringent government regulations regarding energy efficiency is also projected to propel market growth over next few years .
Scope Of The Report
Report Attributes
Report Details
Report Title
Domestic Hot Water Storage Tank Market Research Report
By Type
Mild steel, Stainless steel, Other
By Application
Homes, Apartments
By Companies
Bosch Thermotechnology, Viessmann, Vaillant, WATTS, Stiebel Eltron, Rheem, Ait-Germany, GlenDimplex, Reflex Winkelmann, Akvaterm, Bosch Thermotechnology, Varem, CLAGE, WOLF, Bradford White, Lochinvar
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Domestic Hot Water Storage Tank Market Report Segments:
The global Domestic Hot Water Storage Tank market is segmented on the basis of:
Types
Mild steel, Stainless steel, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Homes, Apartments
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bosch Thermotechnology
- Viessmann
- Vaillant
- WATTS
- Stiebel Eltron
- Rheem
- Ait-Germany
- GlenDimplex
- Reflex Winkelmann
- Akvaterm
- Bosch Thermotechnology
- Varem
- CLAGE
- WOLF
- Bradford White
- Lochinvar
Highlights of The Domestic Hot Water Storage Tank Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mild steel
- Stainless steel
- Other
- By Application:
- Homes
- Apartments
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Domestic Hot Water Storage Tank Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A domestic hot water storage tank is a large, often cylindrical container used to store hot water. The tank typically contains a heating element that heats the water as it circulates through the system.
Some of the major companies in the domestic hot water storage tank market are Bosch Thermotechnology, Viessmann, Vaillant, WATTS, Stiebel Eltron, Rheem, Ait-Germany, GlenDimplex, Reflex Winkelmann, Akvaterm, Bosch Thermotechnology, Varem, CLAGE, WOLF, Bradford White, Lochinvar.
The domestic hot water storage tank market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Domestic Hot Water Storage Tank Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Domestic Hot Water Storage Tank Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Domestic Hot Water Storage Tank Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Domestic Hot Water Storage Tank Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Domestic Hot Water Storage Tank Market Size & Forecast, 2020-2028
4.5.1 Domestic Hot Water Storage Tank Market Size and Y-o-Y Growth
4.5.2 Domestic Hot Water Storage Tank Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Mild steel
5.2.2 Stainless steel
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Homes
6.2.2 Apartments
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Domestic Hot Water Storage Tank Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Domestic Hot Water Storage Tank Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Mild steel
9.6.2 Stainless steel
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Homes
9.10.2 Apartments
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Mild steel
10.6.2 Stainless steel
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Homes
10.10.2 Apartments
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Mild steel
11.6.2 Stainless steel
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Homes
11.10.2 Apartments
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Mild steel
12.6.2 Stainless steel
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Homes
12.10.2 Apartments
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Mild steel
13.6.2 Stainless steel
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Homes
13.10.2 Apartments
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Domestic Hot Water Storage Tank Market: Competitive Dashboard
14.2 Global Domestic Hot Water Storage Tank Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bosch Thermotechnology
14.3.2 Viessmann
14.3.3 Vaillant
14.3.4 WATTS
14.3.5 Stiebel Eltron
14.3.6 Rheem
14.3.7 Ait-Germany
14.3.8 GlenDimplex
14.3.9 Reflex Winkelmann
14.3.10 Akvaterm
14.3.11 Bosch Thermotechnology
14.3.12 Varem
14.3.13 CLAGE
14.3.14 WOLF
14.3.15 Bradford White
14.3.16 Lochinvar
