Market Overview:
The global electric tank water heaters 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 electric tank water heaters in residential and commercial applications across the globe. In terms of volume, the < 1=30 liters segment is expected to dominate the global electric tank water heaters market during the forecast period, followed by 30-60 liters and > 60 liters segments. Asia Pacific is expected to be the fastest growing region in terms of volume during the forecast period, followed by Europe and North America.
Product Definition:
Electric tank water heaters use electricity to heat water and store it until it is used. They are typically more expensive to operate than gas-fired models, but they do not produce combustion gases that can be harmful to your health. Electric tank water heaters are an important part of many homes, providing a continuous supply of hot water for bathing, cooking and cleaning.
< 1=30 Liters:
Water heater is a device used to heat water for domestic purposes such as bathing, washing, and cooking. The most common types of water heaters are electric tank type and solar-based (Pellet) type. There are two basic ways of using the hot water in your home; direct supply method and indirect supply method. In direct supply method, hot water is piped directly from the source i.e.
30-60 Liters:
30-60 liters is the range of water storage sizes used in electric tank water heaters. It is a common size for an electric tank and can be found in most residential and commercial hot water systems. 30-60 liter electric tanks are commonly used with 100 - 120 volt electricity supply, but some variants use 220 or even 240 volts.
Application Insights:
The residential segment dominated the global electric tank water heaters market, accounting for over 60.0% share of the total revenue in 2017. The growth can be attributed to an increase in urban population coupled with rising disposable income levels across various regions, including Asia Pacific and Middle East & Africa. Moreover, government initiatives promoting energy-efficient products are expected to drive demand over the forecast period.
Commercial application is projected to witness significant growth over the forecast period owing to a rise in demand from commercial sectors including healthcare and hospitality among others which require hot water on a constant basis for various purposes such as tea/coffee making facilities or steam generators for central heating systems at hospitals or hotels respectively.
Regional Analysis:
Asia Pacific held the largest market share of over 35% in 2017. The region is expected to witness significant growth owing to increasing awareness regarding tank-based water heater and growing real estate sector especially in India, China, Indonesia, Malaysia and Vietnam. Furthermore, rising disposable income coupled with government initiatives such as “Housing for All by 2020†initiative by the Indian Government is expected to drive residential construction activities which will further propel product demand.
Europe was estimated at over USD X billion in 2017 and is anticipated to grow at a CAGR of XX% from 2018 to 2030 owing herringing environmental regulations pertaining towards energy consumption particularly when compared against other regions that observe less stringent regulations such as North America or Asia Pacific. Moreover, presence of prominent electric tank water heaters manufacturers including SsangYong Energy Group Co., Ltd., Toto Inc.; Kaldewei Group; LG Electronics; Samsung Electric Co., Ltd.
Growth Factors:
- Increasing demand for electric tank water heaters from the residential sector as a result of growing population and rising income levels.
- Rapid urbanization and industrialization, which is leading to an increase in the number of households and commercial establishments, respectively, thereby fueling demand for electric tank water heaters.
- Technological advancements in electric tank water heaters that are resulting in energy-efficient products with low operating costs, which is aiding their adoption across various end-use segments.
- Stringent government regulations mandating the use of energy-efficient appliances across sectors is providing a boost to sales of electric tank water heaters globally.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Tank Water Heaters Market Research Report
By Type
< 1=30 Liters, 30-60 Liters, > 60 Liters
By Application
Residential, Commercial
By Companies
Whirlpood, Haier, Ariston, A. O. Smith, Midea, Rinnai, Sakura, Bosch, Eemax, Eccotemp
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
223
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Electric Tank Water Heaters Market Report Segments:
The global Electric Tank Water Heaters market is segmented on the basis of:
Types
< 1=30 Liters, 30-60 Liters, > 60 Liters
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
Residential, Commercial
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:
- Whirlpood
- Haier
- Ariston
- A. O. Smith
- Midea
- Rinnai
- Sakura
- Bosch
- Eemax
- Eccotemp
Highlights of The Electric Tank Water Heaters 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:
- < 1=30 Liters
- 30-60 Liters
- > 60 Liters
- By Application:
- Residential
- Commercial
- 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 Electric Tank Water Heaters 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?
Electric tank water heaters are a type of water heater that uses electricity to heat the water. They are usually smaller than other types of water heaters, and they are often used in homes or businesses that don't have access to an electric grid.
Some of the major companies in the electric tank water heaters market are Whirlpood, Haier, Ariston, A. O. Smith, Midea, Rinnai, Sakura, Bosch, Eemax, Eccotemp.
The electric tank water heaters market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Tank Water Heaters 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 Electric Tank Water Heaters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Tank Water Heaters 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 Electric Tank Water Heaters 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 Electric Tank Water Heaters Market Size & Forecast, 2020-2028
4.5.1 Electric Tank Water Heaters Market Size and Y-o-Y Growth
4.5.2 Electric Tank Water Heaters 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 < 1=30 Liters
5.2.2 30-60 Liters
5.2.3 > 60 Liters
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 Residential
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Tank Water Heaters 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 Electric Tank Water Heaters 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 < 1=30 Liters
9.6.2 30-60 Liters
9.6.3 > 60 Liters
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 Residential
9.10.2 Commercial
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 < 1=30 Liters
10.6.2 30-60 Liters
10.6.3 > 60 Liters
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 Residential
10.10.2 Commercial
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 < 1=30 Liters
11.6.2 30-60 Liters
11.6.3 > 60 Liters
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 Residential
11.10.2 Commercial
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 < 1=30 Liters
12.6.2 30-60 Liters
12.6.3 > 60 Liters
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 Residential
12.10.2 Commercial
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 < 1=30 Liters
13.6.2 30-60 Liters
13.6.3 > 60 Liters
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 Residential
13.10.2 Commercial
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 Electric Tank Water Heaters Market: Competitive Dashboard
14.2 Global Electric Tank Water Heaters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Whirlpood
14.3.2 Haier
14.3.3 Ariston
14.3.4 A. O. Smith
14.3.5 Midea
14.3.6 Rinnai
14.3.7 Sakura
14.3.8 Bosch
14.3.9 Eemax
14.3.10 Eccotemp
