Electric Water Heater Market size was USD 17.5 billion in 2015, and is anticipated to grow at 7.5% CAGR from 2018 to 2025
World Wild Electric Water Heater Market size, trends and forecasts report analyses the latest trends in industry with a perceptive to identify the future growth prospects along, market size, future business opportunities and challenges faced by key vendor
(EMAILWIRE.COM, August 13, 2018 ) Early technology adoption coupled with introduction of diversified products is expected to help manufacturers sustain and grow in the electric water heater market. Ensuring high customer satisfaction, improving lead time and maximizing productivity are at the forefront of companies' focus areas. Since the raw materials are commoditized and used across an array of verticals, production commitments are usually demanded in advance.
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Electric Water Heater Market, By Application
Residential application accounted for over 80% of total electric water heaters market share in 2015 and is predicted to grow at 6.9% CAGR from 2016 to 2024. The segment is expected to witness high penetration and average growth. Residential applications include bathing, laundry, washing, etc. It is available within 120 V to 240 V range. 120V, single phase is deployed for washing sinks owing to low volume requirements.
Commercial applications include office buildings, hotels, hospitals, and schools. The products need to be more efficient, durable and have large capacity usually up to 120 gallons. The sector is expected to have high growth rate over the forecast period.
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Competitive Market share
Major industry players include AO Smith Corporation, AquaMax, Ariston Thermo (Racold), Bosch, Bradford White Corporation, Eemax, General Electric, Rheem Manufacturing Company, Havells, and Zenith. Global electric water heater market share is highly consolidated and the top three participants account for more than 90% of the overall share. Haier Appliances, AO Smith, and Midea Group have significant industry share in China. Additionally, there are numerous other Chinese private and state-owned companies. In India, Racold is likely to be the significant player closely followed by AO Smith, Bajaj, Venus, Havells, and Haier.
Drive to invest more into R&D activities will enable industry participants to offer enhance product features. In addition, major players are also introducing new products and processes in order to gain competitive edge. For instance, AO Smith Corporation has been investing considerably in R&D activities over the past few years to enhance its industry position and enable product differentiation.
Get Enquire Regarding This Report @ https://www.researchnreports.com/enquiry_before_buying.php?id=73018
About Research N Reports:
Research N Reports is a new age market research firm where we focus on providing information that can be effectively applied. Today being a consumer driven market, companies require information to deal with the complex and dynamic world of choices. Where relying on a sound board firm for your decisions becomes crucial. Research N Reports specializes in industry analysis, market forecasts and as a result getting quality reports covering all verticals, whether be it gaining perspective on current market conditions or being ahead in the cut throat global competition. Since we excel at business research to help businesses grow, we also offer consulting as an extended arm to our services which only helps us gain more insight into current trends and problems. Consequently we keep evolving as an all-rounder provider of viable information under one roof.
Read Detailed Index of full Sample Study at: @ https://www.researchnreports.com/request_sample.php?id=73018
Electric Water Heater Market, By Application
Residential application accounted for over 80% of total electric water heaters market share in 2015 and is predicted to grow at 6.9% CAGR from 2016 to 2024. The segment is expected to witness high penetration and average growth. Residential applications include bathing, laundry, washing, etc. It is available within 120 V to 240 V range. 120V, single phase is deployed for washing sinks owing to low volume requirements.
Commercial applications include office buildings, hotels, hospitals, and schools. The products need to be more efficient, durable and have large capacity usually up to 120 gallons. The sector is expected to have high growth rate over the forecast period.
Get customization & check discount for report @ https://www.researchnreports.com/ask_for_discount.php?id=73018
Competitive Market share
Major industry players include AO Smith Corporation, AquaMax, Ariston Thermo (Racold), Bosch, Bradford White Corporation, Eemax, General Electric, Rheem Manufacturing Company, Havells, and Zenith. Global electric water heater market share is highly consolidated and the top three participants account for more than 90% of the overall share. Haier Appliances, AO Smith, and Midea Group have significant industry share in China. Additionally, there are numerous other Chinese private and state-owned companies. In India, Racold is likely to be the significant player closely followed by AO Smith, Bajaj, Venus, Havells, and Haier.
Drive to invest more into R&D activities will enable industry participants to offer enhance product features. In addition, major players are also introducing new products and processes in order to gain competitive edge. For instance, AO Smith Corporation has been investing considerably in R&D activities over the past few years to enhance its industry position and enable product differentiation.
Get Enquire Regarding This Report @ https://www.researchnreports.com/enquiry_before_buying.php?id=73018
About Research N Reports:
Research N Reports is a new age market research firm where we focus on providing information that can be effectively applied. Today being a consumer driven market, companies require information to deal with the complex and dynamic world of choices. Where relying on a sound board firm for your decisions becomes crucial. Research N Reports specializes in industry analysis, market forecasts and as a result getting quality reports covering all verticals, whether be it gaining perspective on current market conditions or being ahead in the cut throat global competition. Since we excel at business research to help businesses grow, we also offer consulting as an extended arm to our services which only helps us gain more insight into current trends and problems. Consequently we keep evolving as an all-rounder provider of viable information under one roof.
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Research N Reports
Mr. Sunny Denis
Tel: +18886316977
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results