Water Heater Market to reach $41.3 Bn by 2028: COVID Impact, Business Opportunities, Trends, and Forecast – KSU
Evolve Business Intelligence released a new market research report on the Water Heater Market. According to the published report “The global Water Heater market size was estimated at $ 26.6 billion in 2020 and is projected to reach $ 41.3 billion by 2028, with the CAGR at 5.48% from 2021 to 2028.”
More information about the report: https://evolvebi.com/product/water-heater-market-analysis-and-forecast-2020-2028-with-covid-impact-analysis/
The COVID-19 pandemic has disrupted the supply chain, resulting in lower demand or a lower supply bottleneck in the water heater market. The travel restrictions and social distancing measures have resulted in a sharp drop in consumer and business spending, and this pattern is expected to continue for some time. The trend and preferences of end users have changed due to the pandemic, leading manufacturers, developers and service providers to pursue different strategies to stabilize the company.
Regarding the Impact of COVID 19, Water Heater Market report also includes the following data points:
- COVID19 Impact on Water Heaters Market Size
- End-user / industry / application trend and attitudes
- Government policy / regulatory framework
- Key Players’ Strategy to Combat Negative Effects / Post-COVID Strategies
- Opportunity in the water heater market
Lekha, Principal Analyst at Evolve Business Intelligence, stated, “The COVID-19 has had a negative impact on the water heater market due to the temporary lockdown imposed by governments around the world. This resulted in a widespread disruption in the supply chain, which resulted in an increase in the supply gap in demand. “
Some of the major water heater suppliers with high market share are Ariston, Thermo Group, Bajaj Electrical Ltd. and HTP. These players have chosen new product development and collaboration as a key strategy to gain significant market share and compete with market leaders.
The Water Heater Market is analyzed in the following segments:
- Electric kettle
- Gas water heater
- Solar water heater
- Distribution channel
- Hypermarket / supermarket
- Specialty shops and others
The study also provides a comprehensive value chain as well as details of the key factors influencing market growth (drivers, restraints, and opportunities). Additionally, the report also includes 10 key players in the Water Heater market ecosystem who have been strategically profiled along with the market ranking / share for major players. In the area of company profile, the company’s core competencies were comprehensively analyzed and the competitive landscape for market participants as well as the strategies adopted by them such as partnerships and cooperation, acquisitions, product launches and developments, contracts and business expansions were described in detail.
The main actors featured in the report are:
- Thermo Group
- Bajaj Electrical Ltd.
- Noritz Corporation
- Bradford White Corporation
- Rinnai Corporation
- Rheem Manufacturing Company
- Ao Smith Corporations
- Haier Electronics Group Co.
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This research study makes extensive use of secondary sources, archives, and databases (such as annual reports, press releases, magazines, trading cards, company websites, and other paid databases) to classify and collect information valuable for this analysis. The entire process includes a review of the financial records of the top industry participants. After determining the overall market size, the overall market was divided into several segments and sub-segments, and this information was then reviewed by key industry specialists such as CEOs, directors, vice presidents, and marketing directors.
- Definition, description and forecast of the Water Heater Market in terms of value, segmented by indication, type, technology and geography
- Forecast of market size in four key regions: Asia Pacific (APAC), North America, Europe and Rest of the World (RoW)
- Providing detailed information on drivers, limitations and possibilities of artificial intelligence in the healthcare market
- To provide an overview of the value chain analysis across the water heater industry
- Strategic analysis of each segment and sub-segment in terms of each general growth trends and their contribution to the overall Water Heater Market
- Analyzing the market opportunities by identifying high growing segments of the Water Heater Market
- Profiling the major players in the Water Heater market and thoroughly analyzing their core competencies
- Analysis of competitive developments such as partnerships, product launches and developments, contracts, as well as mergers and acquisitions in the global water heater market
Evolve Business Intelligence is a market research, business intelligence and consulting company that offers innovative solutions for challenging weak points in a company. Our market research reports contain data that is useful for micro, small, medium and large businesses. We offer solutions that range from pure data acquisition to management consulting.
Evolve Business Intelligence is based on technological advances and delivers highly accurate data via our internal AI-modeled data analysis and forecasting tool – EvolveBI. This tool tracks real-time data, including quarterly performance, annual performance, and recent developments, for Fortune’s 2000 global companies.
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