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By 2024, Electric Water Heater Market in united states to more than USD 1 billion

Author : Ronak Bora | Published Date : 2019-05-31 

The U.S. electric water heater market is projected to grow exponentially from 2018 to 2024. Rapid growth across service sector coupled with effective regulatory regime toward the deployment of efficient electrical appliances will augment the industry outlook. Government inclination toward the adoption of energy efficient systems along with upgradation and replacement of existing models with advanced and compact systems will propel the product demand.

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Growing investments toward the construction of commercial infrastructure coupled with stringent building codes and standards to ensure energy efficiency will augment the demand for 100-250-liter systems. Industry players across the Electric Water Heater Market are introducing various funding schemes toward the replacement and refurbishment of existing heating systems with an aim to reduce the energy cost and standby losses.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • A.O. Smith
  • Ariston thermo Spa
  • Bosch Thermotechnology
  • Bradford White Corporation
  • General Electric
  • Haier Electronics
  • Racold
  • Rheem Manufacturing Company
  • Whirlpool Corporation
  • Rinnai Corporation
  • State Water Heaters
  • Ferroli S.p.A

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Consumer inclination toward energy saving along with growing adoption of highly convenient and efficient heating solutions will positively influence the electric water heater market. For instance, the U.S. Department of Energy has stated that electric water heaters are capable to provide energy savings of 27-50% across each hot water outlet.

Growing consumer awareness toward operational benefits of advanced heating systems along with improving quality standards will stimulate the residential water heater market growth. Progressive enforcement of building codes and standards coupled with increasing legislative interest toward the adoption of high-end products will favor the installation of these systems.

Electric Water Heater Market is predicted to reach over USD 19 billion by 2024. Significant investments toward infrastructure development along with rapid technological advancements in order to achieve energy efficiency will positively impact the business growth. Growing urban population across the emerging economies coupled with upsurge in demand for advanced heaters will stimulate the industry growth.

Browse Full Report: www.gminsights.com/industry-analysis/electric-water-heater-market

Key industry players operating in the electric water heater market includes Rinnai Corporation, Bradford White, Groupe Atlantic, Zenith, A.O Smith, Bosch Thermotechnology, Nihon Itomic, Saudi Ceramics, Haier, Hubbell, Jaquar, Ariston Thermo, Whirlpool, Viessmann and Vaillant.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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