Published on : Mar 12, 2020
Popularity of portable technologies and devices has given a thrust to the growth of the global electric immersion heater market. Use of immersion heaters has been the conventional way of heating water for domestic purposes. However, the advent of cutting-edge technologies such as electric and solar geysers has overshadowed the popularity of electric immersion heater. However, travellers still resort to the use of electric immersion heater during their expeditions. Furthermore, availability of high-quality immersion rods that consume minimal electricity has also given a thrust to market growth. It is safe to say that the global electric immersion heater market would expand at a steady pace in the coming years.
A report added b ResearchMoz on the global electric immersion heater market sheds value on some of the leading factors responsible for market growth. The strategies of the market vendors have been duly enunciated in the report. Moreover, regional dynamics of market growth have also been enunciated therein.
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Distinct Strategies of Leading Market Vendors
Hotmine is a Ukrainian firm that has been headlines for manufacturing cutting-edge immersion technologies. Advancements in haptic technologies have helped several market vendors in improving their efficiency in manufacturing electric immersion heaters. The leading vendors in the global electric immersion heater market are expected to focus on continual research and development. Moreover, these vendors are required to select the right distributors to sell their products in remote markets. Some of the leading vendors in the global electric immersion heater market are Watlow, NIBE, Chromalox. Friedr. Freek GmbH, and Zhenjiang Dongfang Electric Heating Technology Co.,Ltd.
Rising Propensity of the Masses to Undertake Adventure Trips and Expeditions
The growing trend of undertaking expeditions to mountains, forests, and other deserted spots has resulted in the growth of several markets. Use of electric immersion heater has increased by a dramatic chase as travellers promote their itineraries, and buck up other travellers. Furthermore, use of electric immersion heater is still quite prominent in the residential sector across remote areas. Electric immersion heaters are also used as an alternative to solar heaters during cold weathers. This factor, coupled with the growing dexterity of the residential sector, has paved way for market growth and maturity.
Growth of Multiple E-commerce Platforms
E-commerce channels have played an instrumental role in driving sales across the global electric immersion heater market. The consumers have a wide variety of products to choose from, and this helps them in narrowing down to the most viable option. Furthermore, market vendors host their products on a range of e-commerce websites such as Amazon and Flipkart, and this has helped them in gaining greater traction. It is projected that the availability of e-commerce websites that willingly host electric and electronic products would generate renewed revenues within the global electric immersion heater market. Several local manufacturers of electric immersion heaters have emerged in the market in recent times.
Decoding the Growth of Asia Pacific Market
Based on geography, the market for electric immersion heater in Asia Pacific is expected to expand at a respectable pace in the years to follow. Use of these heaters in remote regions of developing countries such as India and Sri Lanka has created fresh opportunities for market growth. The Scandinavian countries have embraced solar technologies with immense fruition. Owing to this factor, the use of electric immersion heater in Europe has been grim. Several companies are focusing on developing portable solar heaters. Successful accomplishment of the aforementioned feat could result in constrained growth within the electric immersion heater market. However, popularity of electric immersion heater, especially amongst middle-income groups, has created new opportunities for market growth and maturity.