According to the latest report by IMARC Group, titled “India Electric Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The India electric water heater market is expected to exhibit a CAGR of 8.60% during 2022-2027.
An electric water heater is an appliance used to heat water for bathing, cleaning, and cooking. It comprises various temperature settings, a thermostat switch, and a nichrome coil to heat water stored in the tank effectively. It is available with an electrically insulated body to maintain the safety of the user and offer different capacities to hold water for heating. It reduces the effects of hard water in the tank while controlling excessive water pressure in high-rise buildings and preventing the tank from collapsing. It is employed for sterilizing tools and equipment, clean surfaces, and wash medical clothes in hospitals, clinics, and nursing homes. It is used to produce basic solutions, emulsions, and solvents in the chemical industry. It aids in cleaning various food products before packaging and processing in the food and beverage (F&B) industry. An electric water heater assists in cleaning cars by dissolving and removing dirt, dust, and grime stuck on the outer surface and tires of vehicles. As a result, it finds extensive applications in the pharmaceutical, hospitality, and agricultural industries.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
India Electric Water Heater Market Trends:
The increasing demand for electric water heaters during the winter season represents one of the key factors driving the market in India. Besides this, there is a rise in the utilization of these water heaters as they are convenient, user-friendly, and safe. This, coupled with the increasing adoption of tankless water heaters as they are cost-efficient, is propelling the growth of the market. In addition, the wide availability of electric water heaters through online and offline distribution channels, along with the burgeoning e-commerce industry, is positively influencing the market. Apart from this, the rising demand for electric water heaters in shopping malls, hotels, and restaurants in the country is contributing to the growth of the market. Additionally, the increasing employment of instant water heaters for spontaneous water heating and low standby heat losses in various industries is offering a favorable market outlook. Moreover, rising application of electric water heaters in the residential sector to heat water for bathing, hand washing, cleaning kitchen utensils, and doing laundry are strengthening the growth of the market in India. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce enhanced electric water heaters with energy-efficient qualities, smart control, and corrosion resistance with minimum operational costs. They are also focusing on mergers and acquisitions (M&A) to enhance the production procedure and improve customer satisfaction, which is expected to bolster the growth of the market.
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India Electric Water Heater Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis on region, product type, capacity, distribution channel, end user.
Breakup by Product Type:
- Tank
- Tankless
Breakup by Capacity:
- Less Than 100 Liters
- 100 to 400 Liters
- More Than 400 Liters
Breakup by Distribution Channel:
- Online
- Offline
Breakup by End-User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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