Global Electric Water Heater Market : Size & Trends Shows a Rapid Growth by 2026
Posted by nabeel on February 25th, 2021
The global market for electric water heater is projected to have considerable CAGR of around 5.4% during the forecast period. The major factor driving the market of electric water heater is that the electric heater do not having the danger of exploding as compare to gas water heater. In addition to this, electric water heaters allow hassle free installation leading to the increase in market growth for electric water heaters. Electric water heaters consume less space as compared to conventional gas water heaters boosting the demand of electric water heater market. Furthermore, electric water heaters can be equipped with AI such as auto-timer. Moreover, Electric immersion water heaters are being significantly utilized for industrial applications due to robust and efficient heating. In addition, it has its own electricity supply and is not dependent on boilers to work. The rising application of electric water heater in commercial and industrial sector further provides significant opportunity to the market.
(Get 15% Discount on Buying this Report)
To Request a Sample of our Report on Global Electric Water Heater Market :
The global electric water heater market is segmented based on product type and application. Based on the product type, the market is further classified into tankless water heater and storage water heater. The storage water heater segment is further projected to have significant share in the global electric water heater market. The storage water heaters are the standard water heaters used in most indoor spaces. The storage water heaters comprise an enclosed tank that heats water and is stored in the same tank for later use. Storage heaters are widely used in various sectors in operation, as it conserves energy and reduces heat loss during standby times. On the basis of application the market is further segregated into residential, commercial and industrial.
Global Electric Water Heater Market by Product Type
Global Electric Water Heater Market by Application
Rest of the World
Reasons to Buying From us –
1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/electric-water-heater-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
Contact Person: Mr. Anurag Tiwari
Contact no: +91 780-304-0404
Company Name: Orion Market Research
Like it? Share it!
About the Authornabeel
Joined: November 26th, 2020
Articles Posted: 337
More by this author