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The Electric Water Heater (EH) Market.
Long-term global electricity demand is expected to reach 6,677 TWh by 2022. The explosive demand for electrical energy has led to an increase in the manufacture of energy devices such as B. water heaters out.
Demand for electric water heaters from US consumers, who tend to be more willing to adopt new technologies, is expected to increase at a CAGR of 8% over the forecast period. Europe faces the challenge of meeting its own needs and trying to make the transition to a more renewable economy. However, many countries such as Chile and Poland have signaled their intention to shut down fossil fuel power plants if rates fall below equilibrium levels, creating value-added opportunities for power generation companies.
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Breakdown of the retail market
The electric water heater market is expected to grow steadily due to increasing awareness of climate change and declining population. According to a report by Global Industry Analysts, Inc., “Electrically heated water (EH) will be simpler, drier, and shorter than traditional heated water.” For this reason, many companies are investing heavily in EHs, and projects such as their installation will benefit over the long term.
Sale of water heaters with heat pump
ABB AFRICOM is a global leader in innovation in power and automation technology. Recent projects on the scene include new technologies that serve today’s needs. The heat pump water heater is one such solution. This product replaces an electric or gas water heater with one that uses less energy to heat your hot water and uses cold water for space heating.
Summary and trends
The article breaks down the competitive landscape in the electric water heater market, including the top seven companies in North America and Europe that are dominating. The trends are highlighted, making it clear that they revolve around four key concerns: safety, running costs, heating savings and government regulations.
Recommendations for HMC
The HMC Market report provides an exhaustive analysis of the major players located across the globe. It includes a table, pie chart, and sequential charts spanning 20 years. Additionally, the data in the PDF is aggregated by country with an annual average over the last 3, 5, or 10 years to help companies see that different regions are growing at different rates.
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The electric water heater market is expected to reach a market value of US$53.0 billion by the end of 2019. This report provides an in-depth analysis of the leading key players operating in the global Electric Water Heater industry.