Water Heater Market Size Worth $37.52 Billion By 2027 | CAGR: 4.0%: Grand View Research, Inc.
SAN FRANCISCO, Aug. 4, 2020 /PRNewswire/ -- The global water heater market size is expected to reach USD 37.52 billion by 2027, accelerating at a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. The augmenting residential housing sector coupled with rising disposable income is anticipated to bolster the global market growth.
Increasing urban migration coupled with propelling demand for a diversified array of water heaters across the real estate sector is anticipated to drive the market growth in the forthcoming years. In addition, stringent building standards are likely to encourage the adoption of star rated water heaters, thereby augmenting the product demand over the forecast period.
Key suggestions from the report:
Read 100 page research report with ToC on "Water Heater Market Size, Share & Trends Analysis Report By Product (Electric, Solar, Gas), By Technology, By Capacity, By Application (Residential, Commercial), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/water-heaters-market
The availability of water heaters with wide-ranging capacity is anticipated to drive the product demand in various end-use industries. Increasing demand for 30 - 100 liters capacity water heaers across small businesses in the residential sector is projected to complement the product demand over the forecast period.
Timely availability of hot water supply coupled with growing need to address the hot water demands at peak hours across various commercial infrastructures is expected to augment the demand for water heaters over the forecast period. Furthermore, competitive and flexible product pricing along with new features and product assortments are likely to drive market growth.
Grand View Research has segmented the global water heater market on the basis of product, technology, capacity, application, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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