Selbyville, Delaware, Jan. 22, 2020 (GLOBE NEWSWIRE) --
Global Water Heater Market share is expected to cross USD 29 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Rapid growth across the service sector along with ongoing development of building infrastructure will boost the product deployment during the forecast timeframe. In addition, introduction of stringent regulatory norms concerning replacement of existing units with energy efficient heating systems will complement the industry landscape.
Natural gas segment of the water heater industry is set to grow on account of mass flow, efficient heating capability and low operation cost. Availability of extensive features to control several functions that include ignition, temperature control and gas flow will encourage the product adoption. The products are widely deployed across hotels and resorts owing to their mass flow along with increasing adoption across remote off grid areas will further stimulate their adoption. However, stringent guidelines regarding the safety, installation and placement of vent pipes may impact their growth and adoption over other available substitutes.
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Stringent regulations concerning carbon emissions along with abundant availability of gas resources will drive the Europe water heating industry. As per the European Commission, the labelling and eco-Design directives governs the water level standards and technological advancements in regard of smart control heaters. Seasonal heating demand owing to extreme climatic conditions during winters will further complement the business landscape.
Some major findings of the water heater market report include:
- The demand for instant water heaters is surging owing to key capabilities that include on demand heating and low power consumption
- Ongoing replacement of conventional storage units across both commercial and domestic applications will fuel the industry growth
- Major players operating across the industry are A.O. Smith, Rheem Manufacturing, Bosch and Whirlpool
- Development of economical, high efficiency and technologically advanced systems will drive the business growth
- Growing demand from emerging nations across the Asia Pacific region including China and India will fuel the business growth
Browse key industry insights spread across 1030 pages with 2,206 market data tables & 36 figures & charts from the report, “Water Heater Market Outlook By Application (Residential, Commercial [College/University, Office, Government/Military]), By Fuel (Natural gas, LPG), Products (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}, Gas{< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/water-heater-market
Ongoing refurbishment of existing building infrastructure along with growing spending toward real estate sector will accelerate the residential water heater market growth. Respective governments are providing substantial funds for the construction of smart cities and green buildings that will positively enhance the business outlook. Furthermore, rising demand for energy efficient heating units coupled with dedicated spending in R&D to introduce new technologies in the market will positively enhance the business landscape.
Increasing demand for on demand heating, low power consumption and cost savings when compared with storage substitutes will boost the demand for instant heating technologies. Low standby loss coupled with high adoption rate across offices and hospitals to meet critical hot water demands will complement the business landscape. In 2019, the Rinnai Corporation integrated Samsung SmartThings with its tankless range and made several advancements in its smart home platform.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.