The global market for electric water heater is projected to have considerable CAGR of around 10.5% during the forecast period. The major factor that propels the market growth include growing demand of tankless energy efficient water heater. The rising shift in the preference for tankless water heaters over conventional water heaters has been observed due to the energy-saving capacity of tankless water heaters. Tankless water heaters heat the water on demand instead of storing hot water, and no immersion rod is equipped for keeping the water hot continuously. Unlike conventional water heating systems, tankless water heater gets activated when the shower or faucet is turned on and gets deactivated when turned off, ensuring a continuous supply of hot water by saving energy.Moreover, mandatory rating norms by several governments in the Americas and Europe have made tankless water heaters eco-friendly and economical for the users, surging their preference for such water heaters.

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The global market for electric water heater is projected to have considerable CAGR of around 5.4% during the forecast period. The major factor driving the market of electric water heater is that the electric heater do not having the danger of exploding as compare to gas water heater. In addition to this, electric water heaters allow hassle free installation leading to the increase in market growth for electric water heaters. Electric water heaters consume less space as compared to conventional gas water heaters boosting the demand of electric water heater market. Furthermore, electric water heaters can be equipped with AI such as auto-timer. Moreover, Electric immersion water heaters are being significantly utilized for industrial applications due to robust and efficient heating. In addition, it has its own electricity supply and is not dependent on boilers to work. The rising application of electric water heater in commercial and industrial sector further provides significant opportunity to the market.

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Market Segmentation
Global Electric Water Heater Market by Product Type

 Tankless Water Heater
 Storage Water Heater

Global Electric Water Heater Market by Application

 Residential
 Commercial
 Industrial







Company Profiles

 Havells India Ltd.
 Hangzhou Kangquan Water Heater Co., Ltd.
 Hubbell Electric Heater Co.
 Marey Heater Corp
 Robert Bosch GmbH
 Rheem Manufacturing Company, Inc.
 Racold Thermo Pvt. Ltd.
 Stiebel Eltron, Inc.
 Transform Holdco LLC (Kenmore)
 Venus Home Appliances (P) Ltd.


GlobalElectric Water Heater Market– Segmentation by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

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