Asia Pacific Water Heater Market Size 2020 Detailed Analysis and Growth Strategies, Regional and Recent Scenario Analysis 2025
Category: #energy-and-environment  By Ronak Bora  Date: 2021-05-03
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Asia Pacific Water Heater Market Size 2020 Detailed Analysis and Growth Strategies, Regional and Recent Scenario Analysis 2025

The Asia Pacific water heater market size is projected to surpass $8 billion by 2025. Owing to the significant changes in the showering and bathing routines of individuals since the outbreak of the COVID-19 pandemic, the demand for water heaters in Asia Pacific has been spiraling upward. Numerous governments in the region are rolling out plans to build smart cities. This might result in rising demand for efficient and sustainable water heaters through the forecast timeline.

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The following top three factors have been pushing the APAC water heater market size:

Necessity to shower one to several times a day to boost demand

In order to prevent the spread of germs, individuals who might have to run errands such as shopping for the groceries or visiting the doctor’s clinic have been ensuring that they shower immediately on returning home. Electric water heaters segment is expected to soar due to its instant heating technology.

Similarly, the front-line workers including nurses, physicians, respiratory therapists, policemen, individuals working for NGOs, and other essential service providers and government employees have been offering their time, service, and effort during these precarious times. Thus, the demand across the APAC water heater market forecast is growing due to the need to shower more often than during the pre-pandemic times.

Preference for clean energy to initiate rapid adoption of sustainable water heaters

The heat pump water heaters (HPWH) have been one of the game-changers in the industry owing to their ability to significantly reduce air pollution caused due to water heating systems in buildings. These innovative products can serve dual functions of heating water and serving as clean-energy batteries in order to balance the power grid.

Solar water heaters have been gaining traction across the residential sector as more awareness is created amongst individuals regarding the damaging effect of using gas water heaters and gas geysers on the environment. Typically, the single largest source of harmful emissions are gas water heaters. Due to this growing demand for clean energy water heaters, the Asia Pacific water heater market size has been expanding.

Escalating demand across healthcare sector to elicit high demand

The healthcare industry has been one of the most prominent end-users in the APAC water heater industry outlook in the recent times. Heating equipment including electric water heaters are in great demand across the segment, due to the rising pressure to cater to the needs of a massive volume of hospitalized patients during the COVID-19 pandemic.

Electric tankless water heaters are receiving much attention from this sector. This is because electric tankless water heaters ensure paramount safety of the patients due to their ability to prevent scalding by using thermal optic sensors. These products are also cost-effective and compact. The high durability of these systems will further ensure the rapid progress of the APAC water heater market size.

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Hubbell, Viessmann Group, Rheem Manufacturing, Bradford White, Rinnai Corporation, General Electric, A.O Smith, CG Power, Mitsubishi Electric, Kirloskar Electric, TBEA, Schneider Electric, Grant Transformers, ABB, and Siemens are some leading water heater brands in Asia Pacific.

Table of Contents (ToC) of the report:

Chapter 3    Asia Pacific Water Heater Industry Insights

3.1         Industry segmentation

3.2         Industry landscape, 2014 – 2025 (USD Million)

3.3         Industry ecosystem analysis

3.3.1       Vendor matrix

3.4         Innovation & sustainability

3.5         Regulatory landscape

3.8         Price trend analysis

3.9         Industry impact forces

3.9.1       Growth drivers

3.9.2       Industry pitfalls & challenges

3.10       Growth potential analysis

3.11       Porter’s Analysis

3.12       Competitive landscape, 2018

3.12.1     Strategy dashboard

3.13       PEST Analysis

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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