Electric Water Heater Market to cross $30bn by 2024

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Electric Water Heater Industry Shipments to grow
at 6 CARG up to 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Electric Water Heater Market

• Electric Water Heater Market size will cross USD
  30 billion by 2024, with global shipments set to
  grow at over 6 as per a research report
  published by Global Market Insights, Inc. Rising
  disposable income has resulted in increasing use
  of electronic appliances by households, which has
  resulted in increasing electricity consumption.
  With the rising disposable income and enhanced
  living standards, households generally tend to
  progress in the energy ladder in terms of cost,
  quality, and convenience.
• Innovative designs, increased energy efficiency,
  reduced space requirement, and replacement the
  need for upgrading water heaters are stimulating
  the growth of residential segment. The increasing
  demand is also attributed to rising disposable
  income in the developing countries and increasing
  electrification in the region. This segment is
  estimated to further grow owing to changing
  consumer preferences and manufacturers developing
  products that comply with stringent
  energy-efficiency regulations.

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• Key competitors include Oracle, Epicor Software,
  IBM, SAP, Microsoft, QAD, Hewlett Packard and
  IFS. The enterprise application market share is
  characterized by frequent strategic partnerships
  and mergers acquisitions.

• Key competitors include Oracle, Epicor Software,
  IBM, SAP, Microsoft, QAD, Hewlett Packard and
  IFS. The enterprise application market share is
  characterized by frequent strategic partnerships
  and mergers acquisitions.

Continued...

• Products with ohmic array technology offer
  instant on-demand heating with no heating
  elements. This technology includes graphite
  electrodes instead of metal heating elements,
  which eliminate chances of corrosion, plating,
  and scaling, offering a longer lifespan and low
  maintenance. This technology helps in saving
  time, conserves water energy, and uses
  naturally occurring minerals to heat water. With
  this new technology, water is heated instantly by
  the direct transfer of energy. Water is the only
  element that gets hot inside as there is no
  heating element and thus the surface of the
  heater does not become hotter than water.
• Ohmic heating eliminates the formation of steam
  bubbles throughout the heating cycle and results
  in a virtually silent heating operation. There is
  no heating element, so precipitation of minerals
  and chemicals dissolved in water can be avoided
  as precipitates around the heating element and in
  the bottom of the heating kettle can reduce the
  heating efficiency. These precipitates can
  further find their way into the drinks and food,
  which are prepared using the hot water. The
  electric water heater market is projected to
  remain competitive in the coming years. Incumbent
  players focus on product development and
  innovation measures to stay relevant in the
  industry and gain market share.

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U.S. electric water heater market, by
application, 2016 2024 (Million Units)

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Browse Full Market Research Report Electric
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• Key competitors include Oracle, Epicor Software,
  IBM, SAP, Microsoft, QAD, Hewlett Packard and
  IFS. The enterprise application market share is
  characterized by frequent strategic partnerships
  and mergers acquisitions.

• Key competitors include Oracle, Epicor Software,
  IBM, SAP, Microsoft, QAD, Hewlett Packard and
  IFS. The enterprise application market share is
  characterized by frequent strategic partnerships
  and mergers acquisitions.

Regional Analysis

• The regulatory standards established for the
  electric water heater market followed by the
  system vendors may vary as per the region. For
  instance, National Appliance Energy Conservation
  Act (NAECA) in the U.S. makes suitable efficiency
  standards for various household appliances such
  as dishwashers, refrigerators, water heaters,
  dryers, and washing machines.
• NAECA mandates high-energy efficiencies
  periodically as per energy factor ratings on all
  residential electric, oil, gas, and tankless
  water heaters to effectively decrease energy
  consumption in home appliances.

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• Key competitors include Oracle, Epicor Software,
  IBM, SAP, Microsoft, QAD, Hewlett Packard and
  IFS. The enterprise application market share is
  characterized by frequent strategic partnerships
  and mergers acquisitions.

• Key competitors include Oracle, Epicor Software,
  IBM, SAP, Microsoft, QAD, Hewlett Packard and
  IFS. The enterprise application market share is
  characterized by frequent strategic partnerships
  and mergers acquisitions.

Companies

• A.O Smith
• Ariston Thermo
• Rheem Manufacturing Company
• Bradford White Corporation
• Haier Electronic

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Industry Coverage

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