Home > Industrial Machinery > HVAC > Water Heater > Electric Water Heater Market
Electric Water Heater Market Size
- Report ID: GMI680
- Published Date: Oct 2023
- Report Format: PDF
Electric Water Heater Market Size
Electric Water Heater Market was valued at USD 22.1 billion in 2022 and is anticipated to grow at a CAGR of over 4.4% from 2023 to 2032. Pleasing designs and compact footprints along with efforts by various manufacturers to enhance the insulation of electric water heater tanks, reducing standby heat loss and improving overall energy efficiency will drive the business trends.
Growing population and urbanization coupled with strategic mergers & acquisitions by various industry players will influence the market expansion. For instance, in November 2019, Viessmann acquired Kospel S.A., a manufacturer of instantaneous & electric water heaters in Poland. It will support the company to expand its product portfolio, expertise, and workforce in the field of innovative electrical systems, thereby maintaining a strong base across the European region.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Electric Water Heater Market Size in 2022: | USD 22.1 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.4% |
| 2032 Value Projection: | USD 33.8 Billion |
| Historical Data for: | 2019 to 2021 |
| No. of Pages: | 900 |
| Tables, Charts & Figures: | 1,411 |
| Segments covered: | Product, Capacity, Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Electric Water Heater Market Scope
