Companies Mentioned in the Report: General Electric, Whirlpool, Carrier Corporation, State Industries, Bradford White, American Water Heaters, EcoSmart US, Goodman, A.O. Smith, Rinnai, Bosch, Ariston, Apen Group, Biemmedue, Stiebel Eltron, ACV, Kenmore, American Standard, Navien, Noritz, Reliance, Takagi, Electrolux, Bosh, Siemens, HTP, Ariston Thermo SpA, Viessmann, Venus Home Appliances, Bajaj Electricals, Himin Solar Energy
NEW YORK, June 15, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'U.S. – Electric Water Heaters and Immersion Heaters - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Market Statistics
| Imports | 681.5 Million USD |
| Exports | 234.6 Million USD |
| Top Foreign Suppliers | Mexico, China, Canada |
| Top Export Destinations | Canada, Mexico, China |
The U.S. electric water heater market was estimated at approx. $1.1B in 2021. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price). REQUEST FREE DATA
U.S. Water Heater Exports
In 2021, shipments abroad of electric water heaters and immersion heaters was finally on the rise to reach 1.6M units after two years of decline. Over the period under review, total exports indicated a perceptible expansion from 2011 to 2021: its volume increased at an average annual rate of +4.2%. REQUEST FREE DATA
In value terms, electric water heater exports skyrocketed to $235M in 2021. In general, total exports indicated a resilient increase from 2011 to 2021: its value increased at an average annual rate of +4.2%. REQUEST FREE DATA
Exports by Country
Canada (787K units) was the main destination for electric water heater exports from the United States, accounting for a 49% share of total supplies. Moreover, electric water heater exports to Canada exceeded the volume sent to the second major destination, Mexico (268K units), threefold. The third position in this ranking was occupied by China (48K units), with a 3% share.
In value terms, Canada ($90M) remains the key foreign market for electric water heater exports from the United States, comprising 38% of total supplies. The second position in the ranking was occupied by Mexico ($28M), with a 12% share of total exports. It was followed by China, with a 6% share.
From 2011 to 2021, the average annual growth rate of value to Canada totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+5.2% per year) and China (+16.5% per year).
Export Prices by Country
In 2021, the average electric water heater export price amounted to $147 per unit, rising by 1.6% against the previous year. There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($295 per unit), while the average price for exports to the United Arab Emirates ($64 per unit) was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Water Heater Imports
In 2021, the amount of electric water heaters and immersion heaters imported into the United States dropped to 15M units, waning by -5.2% on the previous year's figure. Over the period under review, total imports indicated prominent growth from 2011 to 2021: its volume increased at an average annual rate of +5.8%.
In value terms, imports rose sharply to $681M in 2021. Over the past decade, imports recorded a prominent expansion.
Imports by Country
In 2021, China (9.6M units) constituted the largest supplier of electric water heater to the United States, accounting for a 66% share of total purchases. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Mexico (3.4M units), threefold. Germany (382K units) ranked third in terms of total imports with a 2.6% share.
In value terms, Mexico ($360M) constituted the largest supplier of electric water heater to the United States, comprising 53% of total imports. The second position in the ranking was occupied by China ($172M), with a 25% share of total purchases. It was followed by Canada, with a 5.8% share.
From 2011 to 2021, the average annual growth rate of value from Mexico stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.3% per year) and Canada (+6.3% per year).
Import Prices by Country
The average electric water heater import price stood at $46 per unit in 2021, jumping by 17% against the previous year. Prices varied noticeably by the country of origin: the country with the highest price was Canada ($117 per unit), while the price for China ($18 per unit) was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.
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Product Coverage
Electric instantaneous or storage water heaters and immersion heaters.
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