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Increasing Need for Hot Water to Drive Global Water Heater Market

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Published on : Feb 15, 2016

Heating of water is a thermodynamic procedure that makes use of an energy source to heat water. The most common uses of hot water include bathing, cooking, cleaning, and space heating. Appliances that make use of different energy sources for heating water from its initial temperature to different temperatures are known as water heaters. Furthermore, water heaters are commonly used in various manufacturing industries such as chemical industry, thermal power plants, and food and beverage industry.

Some of the major types of water heaters available in the global market are:

  • Electric Heaters
  • Gas and Propane Heaters
  • Solar Heaters
  • Geothermal Heaters

Among all these types, the demand for electric water heaters is very high around the world. Electric heating is a process in which the electrical energy is converted into heat so as to increase the temperature of water. This segment is expected to register a significant growth rate in the next few years. In addition, the gas and propane heaters water heater segment is also expected to grow at a fast pace in the near future. Currently, solar water heaters are gaining immense popularity across the globe. In solar water heaters, the water is heated by installing solar collectors on the roof of the house or wall. This segment is expected to grow substantially in the coming years. 

Some of the major players operating in the global water heater market are Genrui, Himin Solar Co., Ltd, Siemens AG., Bajaj Electricals Ltd., Bradford White Corp., Ariston Thermo SPA., Jiaxing Jinyi Solar Energy Technology Co, Ltd., Zhongshan Inse Group, AO Smith Corporation, Rinnai Corp., Zhejiang KANCHQUAN Electric Appliance, Venus Home Appliances (P) Ltd., Rheem Manufacturing Co., HTP Inc., Noritz Corp., Haier Electronics Group.

The tremendously growing demand for the continuous flow of hot water for residential purposes as well as commercial purposes is the major factor that is estimated to boost the demand for water heaters in the coming years. Moreover, the prominent companies operating in the market are spending generously for research and development activities to introduce energy-efficient products for the consumers.