Market Overview:
The global hot type electric water heater market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for hot water in residential and commercial applications, technological advancements, and rising awareness about energy-efficient appliances. The global hot type electric water heater market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into multi-position electric water heaters, constant temperature electric water heaters, and others (including instantaneous gas-fired or propane tankless models). On the basis of application, the market is segmented into residential applications (including single family homes and multifamily dwellings), hotel applications (including guest rooms and staff quarters), barber shop applications (including hair washing stations), and others (such as industrial laundries). The regional segments considered in this study are North America, Latin America, Europe Asia Pacific ,and Middle East & Africa .
Product Definition:
A hot water heater is a household appliance that heats water for bathing, laundry, dishwashing, and other purposes. A hot type electric water heater is an electrically heated appliance used to heat potable water. They come in a variety of sizes and are typically installed near the point where the potable water enters the home. The importance of Hot Type Electric Water Heater is that they provide a reliable and efficient way to heat potable water for bathing, laundry, dishwashing etc.
Multi-position:
Multi-position heat exchangers are used in electric water heaters to provide multiple temperature settings. The most common application of multi-position is found in tankless water heater, which can be switched from one setting to another depending on the demand for hot water.
The growth factor of this market is driven by factors such as growing urbanization and increasing disposable income among consumers across the globe. Additionally, rising awareness regarding energy conservation plays a significant role in driving industry growth globally.
Constant Temperature:
Constant temperature is a type of heating system that maintains the water at a constant temperature. Constant temperature hot water heaters are used in residential and commercial buildings for space heating and cooling applications. Constant temperature hot water heaters can be used for domestic Hot Water generation, central plant production or combined cycle power generation application.
Application Insights:
The demand for the product in various application industries is expected to grow with the growing population and rapid urbanization. The household sector accounted for a revenue share of over 50% in 2017 owing to rising demand from end-use applications such as hotels, houses, and others. In addition, increasing penetration of electric water heaters among residential consumers is expected to drive growth over the forecast period.
Hotels are anticipated to be one of the fastest-growing application sectors due to rapidly expanding hotel construction across regions coupled with an increase in renovation activities within existing hotels. For instance, according HotelsCombined statistics on hotel construction across globe shows that there were more than 43000 new rooms added in 2016 alone which was a rise of 6% compared with 2015¢â‚¬â„¢s record breaking year. This trend is projectededto continueover next few years thereby driving hot type electric water heater market growth during forecast period.
Regional Analysis:
Asia Pacific dominated the global hot type electric water heater market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing awareness regarding energy conservation and sustainable development. Moreover, rising demand for luxury residential properties in countries such as China and India is anticipated to drive the regional market growth during the forecast period.
The Asia Pacific has been witnessing strong economic growth since last few years on account of rapid industrialization and urbanization resulting into increased construction activities, thereby driving product demand across various applications including commercial, institutional, residential & non-residential buildings. In addition, growing awareness regarding energy conservation and sustainable development will further propel regional product demand over the next eight years.
Europe held a substantial share of more than 20% in terms of revenue in 2017 due to high consumption levels coupled with stringent government regulations aimed at reducing carbon footprint associated with conventional heating systems used for water heating purposes especially during cold season (i.e., winter).
Growth Factors:
- Increasing demand from the commercial sector for Hot Type Electric Water Heater is expected to drive the market growth.
- Growing awareness about energy-efficient water heating solutions among consumers is projected to boost the market growth over the forecast period.
- Rising demand for instantaneous water heating systems across residential applications is anticipated to propel the market growth in near future.
- Technological advancements in Hot Type Electric Water Heater offerings are likely to provide lucrative opportunities for industry participants over the forecast period.
- Growing inclination of consumers towards eco-friendly and energy-efficient products is expected to fuel adoption of Hot Type Electric Water Heaters globally, thereby propelling market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Hot Type Electric Water Heater Market Research Report
By Type
Multi-position, Constant Temperature, Others
By Application
House, Hotel, Barber Shop, Others
By Companies
Otlan, Hannover, Feiyu, STIEBEL ELTRON, Ferroli, Airboo, SIDFEN, Harvard, Starborn, CHIGO, Otlan
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
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Hot Type Electric Water Heater Market Report Segments:
The global Hot Type Electric Water Heater market is segmented on the basis of:
Types
Multi-position, Constant Temperature, Others
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
House, Hotel, Barber Shop, Others
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:
- Otlan
- Hannover
- Feiyu
- STIEBEL ELTRON
- Ferroli
- Airboo
- SIDFEN
- Harvard
- Starborn
- CHIGO
- Otlan
Highlights of The Hot Type Electric Water Heater 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:
- Multi-position
- Constant Temperature
- Others
- By Application:
- House
- Hotel
- Barber Shop
- Others
- 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 Hot Type Electric Water Heater 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 hot type electric water heater is a device that uses electricity to heat water. They are often more efficient than traditional gas or oil-fired water heaters, and can be more cost effective in some cases.
Some of the major companies in the hot type electric water heater market are Otlan, Hannover, Feiyu, STIEBEL ELTRON, Ferroli, Airboo, SIDFEN, Harvard, Starborn, CHIGO, Otlan.
The hot type electric water heater 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 Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hot Type Electric Water Heater 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 Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size & Forecast, 2018-2028
4.5.1 Hot Type Electric Water Heater Market Size and Y-o-Y Growth
4.5.2 Hot Type Electric Water Heater Market Absolute $ Opportunity
Chapter 5 Global Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size Forecast by Type
5.2.1 Multi-position
5.2.2 Constant Temperature
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size Forecast by Applications
6.2.1 House
6.2.2 Hotel
6.2.3 Barber Shop
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hot Type Electric Water Heater 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 Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Analysis and Forecast
9.1 Introduction
9.2 North America Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size Forecast by Type
9.6.1 Multi-position
9.6.2 Constant Temperature
9.6.3 Others
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 Hot Type Electric Water Heater Market Size Forecast by Applications
9.10.1 House
9.10.2 Hotel
9.10.3 Barber Shop
9.10.4 Others
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 Hot Type Electric Water Heater Analysis and Forecast
10.1 Introduction
10.2 Europe Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size Forecast by Type
10.6.1 Multi-position
10.6.2 Constant Temperature
10.6.3 Others
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 Hot Type Electric Water Heater Market Size Forecast by Applications
10.10.1 House
10.10.2 Hotel
10.10.3 Barber Shop
10.10.4 Others
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 Hot Type Electric Water Heater Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size Forecast by Type
11.6.1 Multi-position
11.6.2 Constant Temperature
11.6.3 Others
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 Hot Type Electric Water Heater Market Size Forecast by Applications
11.10.1 House
11.10.2 Hotel
11.10.3 Barber Shop
11.10.4 Others
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 Hot Type Electric Water Heater Analysis and Forecast
12.1 Introduction
12.2 Latin America Hot Type Electric Water Heater 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 Hot Type Electric Water Heater Market Size Forecast by Type
12.6.1 Multi-position
12.6.2 Constant Temperature
12.6.3 Others
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 Hot Type Electric Water Heater Market Size Forecast by Applications
12.10.1 House
12.10.2 Hotel
12.10.3 Barber Shop
12.10.4 Others
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) Hot Type Electric Water Heater Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hot Type Electric Water Heater 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) Hot Type Electric Water Heater Market Size Forecast by Type
13.6.1 Multi-position
13.6.2 Constant Temperature
13.6.3 Others
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) Hot Type Electric Water Heater Market Size Forecast by Applications
13.10.1 House
13.10.2 Hotel
13.10.3 Barber Shop
13.10.4 Others
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 Hot Type Electric Water Heater Market: Competitive Dashboard
14.2 Global Hot Type Electric Water Heater Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Otlan
14.3.2 Hannover
14.3.3 Feiyu
14.3.4 STIEBEL ELTRON
14.3.5 Ferroli
14.3.6 Airboo
14.3.7 SIDFEN
14.3.8 Harvard
14.3.9 Starborn
14.3.10 CHIGO
14.3.11 Otlan
