Portland, OR, May 6, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global instantaneous water heater market reached $ 18.81 billion in 2019 and is projected to gross $ 26.94 billion by 2027 7.70% from 2021 to 2027. The report offers a comprehensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenarios.
Government regulations and strict building regulations for adopting energy efficient technologies, setting up residential projects, and increasing infrastructure investments are fueling the growth of the global instantaneous water heater market. On the other hand, regulated key rules such as the directive on energy efficiency standards and the energy efficiency of buildings hinder market growth to some extent. Still, the automation and advancement of key household items, as well as increasing investment for R&D purposes, will offer market participants a number of opportunities in the near future.
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Covid-19 scenario:
- The outbreak of the pandemic resulted in a disruption in the supply chain and the suspension of specialty stores, e-commerce and other sales channels in various countries.
- However, the industry has restarted its processes in relation to the guidelines issued by the governments.
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The global market is segmented by sales channel, product, application and region. Based on the product, the gas water heater segment had the largest share of the global water heater market in 2019 with a share of more than three quarters and is expected to maintain its leading position during the forecast period. On the other hand, the highest CAGR of 9.00% is forecast for the electric water heater segment from 2019 to 2027.
Based on the sales channel, the supermarket and hypermarket segment had the largest share of almost a third of the world market in 2019 and is expected to retain the largest share in the forecast period. However, it is estimated that the online sales segment has the highest CAGR of 10.9% over the forecast period.
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By region, North America dominated with more than a third of the world market in 2019 with the highest share and is expected to maintain its lead in the forecast period. At the same time, the Asia-Pacific region is expected to experience the highest CAGR of 10.0% from 2021 to 2027. Other regions examined in the report are Europe and LAMEA.
Major companies featured in the report include AO Smith Corporation, Ariston Thermo SPA, Bradford White Corporation, General Electric Company, Ferroli SPA, Havells India Ltd., Nihon Itomic Co. Ltd. , Rheem Manufacturing Company, Vaillant Group, and Whirlpool Corporation.
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Allied Market Research (AMR) is a full-service market research and management consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “market research reports” and “business intelligence solutions” to global corporations as well as medium and small businesses. AMR strives to provide business insights and advice to assist its clients with strategic business decisions and sustainable growth in their respective market areas. AMR offers its services in 11 industries including life sciences, consumer goods, materials and chemicals, construction and manufacturing, food and beverage, energy and energy, semiconductors and electronics, automotive and transportation, ICT and media, aerospace and defense, and BFSI .
We have professional corporate relationships with various companies and this helps us unearth market data which will help us create accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, is instrumental in inspiring and encouraging everyone in the company to maintain high quality data and help customers succeed in every possible way. All of the data contained in the reports we publish are extracted through primary interviews with top officials from leading companies in the affected domain. Our secondary data acquisition methodology includes extensive online and offline research and discussions with knowledgeable professionals and industry analysts.
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