Appliances that utilize different energy sources to heat water above its initial temperature in order to provide water in different range of temperatures are called water heaters. Water heaters works on the law of thermodynamic in which a source of energy is utilize to heat up water. Water heaters are widely in use in many domestic applications such as cooking, bathing, cleaning, and space heating. Water heaters also have wide application in the manufacturing industries such as chemicals, food and beverages processing industries and thermal power plants.
Based on the energy sources for water heaters the global water heater can be broadly classified in seven categories namely compressed natural gas (CNG) based water heater, liquefied petroleum gas (LPG) based water heater, propane base water heater, electric water heaters, solar energy based water heaters, hybrid water heaters and others.
Based on the technology the global water heater market is broadly categorized in three broad segment namely storage or tank water heaters, demand or tank-less water heaters, and heat pump water heaters.
The market of global water heater is mainly fueled by the increasing demand of for hybrid water heaters by both, domestic as well as industries. Hybrid water heaters are more energy-efficient in comparison to conventional water heaters. They can operate on more than one energy sources and hence provides switching option to the consumers. Hybrid water heaters are expected to gain highest growth rate in upcoming years.
The increasing demand of tank-less water heaters mainly by the industries is providing new growth opportunity for the global water heaters markets. In tank-less water heaters, water flows through a circulated large coil which is heated either by electricity or gas. Tank-less water heaters are more energy efficient compare to traditional tank based water heaters. It is also provide better environment sustainability, and precise temperature control over longer duration.
Asia Pacific is the largest market of water heater closely followed by North America and Europe. High demand of tank-less and hybrid water heaters from manufacturing industries of China, Japan, South Korea and India is keeping the growth highest in Asia Pacific region.
Some of the leading companies operating in global water heater market include, A.O.Smith Corp, Rheem Manufacturing Co., GE Co., Siemens AG., Ariston Thermo SPA., Bajaj Electricals Ltd., Bradford White Corp., Crompton Greaves Ltd., Haier Water Heater Co. Ltd., Heat Transfer Products Inc., Noritz Corp., and Rinnai Corp.
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Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.