Market Overview:
The global storage water heater market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The growth in this market can be attributed to the increasing demand for hot water in residential and commercial applications, and the growing awareness about energy-efficient storage water heaters. The global storage water heater market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into fossil fuel-based storage water heaters, electric storage water heaters, and other types (solar thermal powered or geothermal). Electric storage water heaters are expected to dominate the global Storage Water Heater Market during 2018-2030 owing to their high efficiency as compared to other types of Storage Water Heaters available in the market. On account of their growing popularity among consumers for providing an uninterrupted flow of hotwater roundthe clock with minimum electricity consumption; electric Storage Water Heaters are witnessing a higher adoption rate across regions such as North Americaand Europe .
Product Definition:
Storage water heater is a household appliance that heats and stores water for later use. They are typically used to provide hot water for bathing, showering, washing dishes, and other activities. Storage water heaters are important because they allow homeowners to have hot water whenever they need it without having to wait for the tankless or instantaneous models to heat up enough water.
ossil Fuel:
Ossil fuel is a type of solid organic material that is made up of carbon and hydrogen. It can be produced by any process involving coal gasification, such as the Fischer-Tropsch (FT) process or the McKerrow process. Ossil fuel has been used in space heating applications because it exhibits low melting points and high calorific value.
Eletric:
Electric is the energy source used in storage water heaters. It is also known as power or current. The amount of electricity used in a storage water heater depends on its capacity and the rate at which it needs to be heated. A standard 120V 60Hz electric outlet can provide enough power for a 10-15 gallon electric kettle to boil water for tea/coffee making, etc., but not much else (check amperage).
Application Insights:
The market is segmented by application into residential, commercial and other applications. The other applications include industrial, healthcare, food and beverage and aquaculture. The storage water heater is widely used in the residential sector as it provides continuous hot water supply for households without the need to refuel or replace fuel every few months. This factor along with low installation cost has led to a significant share of this application segment in terms of revenue generation over the past few years.
Storage water heaters are majorly used for large-scale housing projects undertaken by governments at military cantonments across countries such as India, China Japan etc., where continuous supply of hot water is required during winters for sanitation purposes coupled with low operational cost makes it highly economical solution compared to conventional tank type systems popular before 2014.
Regional Analysis:
Asia Pacific is expected to be the largest as well as the fastest-growing regional market over the forecast period. The growth can be attributed to rising demand for energy-efficient products along with increasing investments in developing infrastructure and commercial sectors. Rising number of residential constructions, coupled with growing population, will also drive product demand in this region.
Europe accounted for a significant share of global revenue in 2017 owing to high penetration rates of storage water heater due to cold climate regions such as UK and Russia compared to other countries such as Spain and Italy which have a higher tropical climate’s thus leading towards higher heating requirement thus resulting into greater adoption rate of these products across Europe.
Growth Factors:
- Increasing demand for hot water in residential and commercial sectors
- Growing awareness about the benefits of using storage water heaters
- Rising popularity of tankless water heaters
- Technological advancements in storage water heater technology
- Government initiatives and subsidies to promote the use of energy-efficient appliances
Scope Of The Report
Report Attributes
Report Details
Report Title
Storage Water Heater Market Research Report
By Type
ossil Fuel, Eletric, Other Types
By Application
Residential, Commercial, Other Applications
By Companies
A.O. Smith Corporation, Bosch, Bradford White Corporation, Noritz Corporation, Rheem Manufacturing Company, Rinnai, Crompton Greaves Ltd., Eccotemp Systems, Electrolux, Heat Transfer Products Inc., Reliance Water Heater Company, Rinnai, Midea Group
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Storage Water Heater Market Report Segments:
The global Storage Water Heater market is segmented on the basis of:
Types
ossil Fuel, Eletric, Other Types
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, Other Applications
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:
- A.O. Smith Corporation
- Bosch
- Bradford White Corporation
- Noritz Corporation
- Rheem Manufacturing Company
- Rinnai
- Crompton Greaves Ltd.
- Eccotemp Systems
- Electrolux
- Heat Transfer Products Inc.
- Reliance Water Heater Company
- Rinnai
- Midea Group
Highlights of The Storage 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:
- ossil Fuel
- Eletric
- Other Types
- By Application:
- Residential
- Commercial
- Other Applications
- 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 Storage 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 storage water heater is a device that heats water for use in an appliance, such as a dishwasher or washing machine.
Some of the key players operating in the storage water heater market are A.O. Smith Corporation, Bosch, Bradford White Corporation, Noritz Corporation, Rheem Manufacturing Company, Rinnai, Crompton Greaves Ltd., Eccotemp Systems, Electrolux, Heat Transfer Products Inc., Reliance Water Heater Company, Rinnai, Midea Group.
The storage water heater market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Storage Water Heater Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Storage Water Heater Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Storage Water Heater Market - Supply Chain
4.5. Global Storage Water Heater Market Forecast
4.5.1. Storage Water Heater Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Storage Water Heater Market Size (000 Units) and Y-o-Y Growth
4.5.3. Storage Water Heater Market Absolute $ Opportunity
5. Global Storage Water Heater Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Storage Water Heater Market Size and Volume Forecast by Type
5.3.1. ossil Fuel
5.3.2. Eletric
5.3.3. Other Types
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Storage Water Heater Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Storage Water Heater Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Other Applications
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Storage Water Heater Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Storage Water Heater Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Storage Water Heater Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Storage Water Heater Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Storage Water Heater Demand Share Forecast, 2019-2026
9. North America Storage Water Heater Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Storage Water Heater Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Storage Water Heater Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Other Applications
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Storage Water Heater Market Size and Volume Forecast by Type
9.7.1. ossil Fuel
9.7.2. Eletric
9.7.3. Other Types
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Storage Water Heater Demand Share Forecast, 2019-2026
10. Latin America Storage Water Heater Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Storage Water Heater Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Storage Water Heater Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Other Applications
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Storage Water Heater Market Size and Volume Forecast by Type
10.7.1. ossil Fuel
10.7.2. Eletric
10.7.3. Other Types
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Storage Water Heater Demand Share Forecast, 2019-2026
11. Europe Storage Water Heater Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Storage Water Heater Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Storage Water Heater Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Other Applications
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Storage Water Heater Market Size and Volume Forecast by Type
11.7.1. ossil Fuel
11.7.2. Eletric
11.7.3. Other Types
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Storage Water Heater Demand Share, 2019-2026
12. Asia Pacific Storage Water Heater Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Storage Water Heater Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Storage Water Heater Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Other Applications
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Storage Water Heater Market Size and Volume Forecast by Type
12.7.1. ossil Fuel
12.7.2. Eletric
12.7.3. Other Types
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Storage Water Heater Demand Share, 2019-2026
13. Middle East & Africa Storage Water Heater Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Storage Water Heater Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Storage Water Heater Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Other Applications
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Storage Water Heater Market Size and Volume Forecast by Type
13.7.1. ossil Fuel
13.7.2. Eletric
13.7.3. Other Types
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Storage Water Heater Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Storage Water Heater Market: Market Share Analysis
14.2. Storage Water Heater Distributors and Customers
14.3. Storage Water Heater Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. A.O. Smith Corporation
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Bosch
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Bradford White Corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Noritz Corporation
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Rheem Manufacturing Company
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Rinnai
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Crompton Greaves Ltd.
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Eccotemp Systems
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Electrolux
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Heat Transfer Products Inc.
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Reliance Water Heater Company
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Rinnai
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Midea Group
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
