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Latin America Electric Water Heater Market Trends

Report ID: GMI7257
Published Date: Nov 2024
Report Format: PDF

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Latin America Electric Water Heater Market Trends

Smart water heaters are increasingly adopted in commercial and urban residential settings due to their efficiency, convenience, and energy-saving capabilities. These systems use advanced technology and connectivity to provide a user-friendly experience while optimizing energy use. Many smart water heaters offer detailed insights into energy consumption, revealing usage patterns and costs. These insights enable users to make informed adjustments, reducing energy consumption and lowering bills.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The Latin American market for electric water heater was reached USD 7.88 billion in 2024 and is estimated to grow at a 3.8% CAGR from 2025 to 2034, driven by stringent energy efficiency standards.

The storage segment is anticipated to exceed USD 2.1 billion by 2034, due to the development of smart cities and low-emission buildings.

The residential segment is projected to grow at over a 3% CAGR by 2034, supported by low maintenance and installation costs.

The Brazil electric water heater market is expected to reach over USD 7.9 Billion by 2034, driven by heightened consumer awareness of energy-efficient units and rising disposable incomes.

Key players in the industry include A. O. Smith, American Standard Water Heaters, Ariston Holding, Bosch Thermotechnology, Bradford White Corporation, GE Appliances, Groupe Atlantic, Linuo Ritter International, Midea, Parker Boiler Company, Rinnai Corporation, Rheem Manufacturing, Stiebel Eltron, Viessmann, Watts, Whirlpool Corporation, and Westinghouse Electric Corporation.