Thermostatic Water Heater Market to Witness a Handsome Growth during 2021-2026 [news]
Stratview Research has published a new report titled “Global Thermostatic Water Heater Market” which is segmented By Type (Constant Temperature Gas Water Heater, Constant Temperature Electric Water Heater, Others), Application (Home, School, Hotel, Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the Global Thermostatic Water Heater Market was estimated to grow at a healthy CAGR during the forecast period of 2021-2026.
To learn more about the report, click here: https://www.stratviewresearch.com/1533/thermostatic-water-heater-market.html
The thermostatic water heater is a household device that comprises a gas or electric heating unit under a tank in which the water is heated and stored. The thermostat in the water heater is a device that keeps the temperature in the heater at the desired level. It cuts off the power supply once the required temperature is achieved. The commonly used water heaters include constant temperature gas water heater and constant temperature electric water heater.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Application Trends
The market is categorized into home, school, hotel and others.
The home segment is projected to register the highest CAGR owing to high product demand coupled with growing urbanization and increasing purchasing power. Additionally, increasing prevalence of strict building energy efficient standards is also likely to fuel the demand for energy efficient water heaters. The hotel segment is also growing at a considerable rate because of the increasing number of hotels.
Which Region is expected to remain the largest market?
The Asia Pacific witnessed the largest market share in 2020 and is likely to register a healthy CAGR by the end of 2026. Increasing urbanization and expanding populace coupled with rising per capita disposable income are some of the key factors propelling the market growth in the region. Growing demand for energy efficient water heaters with rising energy efficiency standards is likely to drive the product growth in developed regions.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players active in the Global Thermostatic Water Heater Market:
• Haier Group Corporation (China)
• Midea Group (China)
• A. O. Smith Corporation (The U.S.)
• MACRO (China)
• NORITZ CORPORATION (Japan)
• Vatti (China)
• Rinnai (Japan)
• Taiwan Sakura Corporation (China)
• EuroICC (Serbia)
• Guangdong Vanward New Electric CO., LTD (China)
• Navien, Inc. (The U.S.)
• Rheem Manufacturing Company (The U.S.)
Key questions answered by the report.
• What is the projected CAGR for revenue from the Thermostatic Water Heater Market during the forecast period?
• What would the market be valued at by 2026?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Thermostatic Water Heater Market?
• Which are the major market players?
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com or connect with our experts at +1-313-307-4176.
As per the study, the Global Thermostatic Water Heater Market was estimated to grow at a healthy CAGR during the forecast period of 2021-2026.
To learn more about the report, click here: https://www.stratviewresearch.com/1533/thermostatic-water-heater-market.html
The thermostatic water heater is a household device that comprises a gas or electric heating unit under a tank in which the water is heated and stored. The thermostat in the water heater is a device that keeps the temperature in the heater at the desired level. It cuts off the power supply once the required temperature is achieved. The commonly used water heaters include constant temperature gas water heater and constant temperature electric water heater.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Application Trends
The market is categorized into home, school, hotel and others.
The home segment is projected to register the highest CAGR owing to high product demand coupled with growing urbanization and increasing purchasing power. Additionally, increasing prevalence of strict building energy efficient standards is also likely to fuel the demand for energy efficient water heaters. The hotel segment is also growing at a considerable rate because of the increasing number of hotels.
Which Region is expected to remain the largest market?
The Asia Pacific witnessed the largest market share in 2020 and is likely to register a healthy CAGR by the end of 2026. Increasing urbanization and expanding populace coupled with rising per capita disposable income are some of the key factors propelling the market growth in the region. Growing demand for energy efficient water heaters with rising energy efficiency standards is likely to drive the product growth in developed regions.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players active in the Global Thermostatic Water Heater Market:
• Haier Group Corporation (China)
• Midea Group (China)
• A. O. Smith Corporation (The U.S.)
• MACRO (China)
• NORITZ CORPORATION (Japan)
• Vatti (China)
• Rinnai (Japan)
• Taiwan Sakura Corporation (China)
• EuroICC (Serbia)
• Guangdong Vanward New Electric CO., LTD (China)
• Navien, Inc. (The U.S.)
• Rheem Manufacturing Company (The U.S.)
Key questions answered by the report.
• What is the projected CAGR for revenue from the Thermostatic Water Heater Market during the forecast period?
• What would the market be valued at by 2026?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Thermostatic Water Heater Market?
• Which are the major market players?
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com or connect with our experts at +1-313-307-4176.
Revolutionizing Comfort: The Latest Trends in Storage Water Heaters [news]
Introduction
In the world of home comfort, few appliances are as indispensable as the water heater. Whether it's a relaxing hot shower or clean dishes after a family dinner, a reliable water heater ensures our daily routines run smoothly. In recent years, the storage water heater market has witnessed a revolution driven by innovation and a growing focus on energy efficiency. In this article, we'll explore the latest trends shaping the storage water heater industry, and how these advancements are revolutionizing the way we experience comfort at home.
According to Stratview Research, the Global Storage Water Heater Market was estimated to grow from USD 18.2 billion in 2021 to USD 24.4 billion by 2028 at a CAGR of over 4.22% during the forecast period of 2022-2028.
A storage water heater is a type of domestic water heating appliance that uses a hot water storage tank to maximise water heating capacity and provide instantaneous hot water delivery.
To learn more about the report, click here:
https://www.stratviewresearch.com/2980/storage-water-heater-market.html
Energy Efficiency Takes Center Stage
One of the most significant shifts in the storage water heater market is the emphasis on energy efficiency. With environmental concerns and rising energy costs, consumers are increasingly seeking models that not only provide ample hot water but also do so with minimal impact on the environment and their wallets. Manufacturers have responded by developing storage water heaters equipped with advanced insulation, heat pumps, and other technologies to optimize energy usage.
The Rise of Hybrid Water Heaters
Hybrid water heaters have emerged as a game-changer in the market. These innovative units combine the efficiency of heat pump technology with traditional heating elements. By extracting heat from the surrounding air, they can produce hot water using significantly less energy compared to conventional models. This trend is especially popular among eco-conscious consumers looking to reduce their carbon footprint.
Smart Technology Integration
In the era of the Internet of Things (IoT), smart technology has permeated virtually every aspect of our lives, including home appliances. Storage water heaters are no exception. The latest models come equipped with Wi-Fi connectivity, allowing homeowners to monitor and control their water heaters remotely through smartphone apps. This not only provides convenience but also enables users to optimize settings for energy efficiency, ultimately leading to cost savings.
Improved Tank Insulation
Traditionally, storage water heaters lose heat over time, leading to standby energy loss. To combat this, manufacturers are now incorporating advanced insulation materials and techniques to minimize heat loss from the tank. This means water stays hotter for longer periods, reducing the need for constant reheating and lowering energy consumption.
Integration with Renewable Energy Sources
As the world embraces cleaner energy options, storage water heaters are becoming increasingly compatible with renewable energy sources like solar power. Solar thermal systems can be integrated with water heaters, allowing them to harness the power of the sun to heat water. This not only reduces reliance on conventional energy sources but also contributes to a greener, more sustainable future.
Compact and Space-Saving Designs
Modern homes often face space constraints, prompting manufacturers to develop more compact and space-saving storage water heater models. These units are designed to fit into smaller areas, such as closets or utility rooms, without sacrificing performance. Additionally, some models can even be wall-mounted to free up valuable floor space.
Enhanced Safety Features
Safety is a paramount concern for any household appliance, and storage water heaters are no exception. The latest models are equipped with advanced safety features, including pressure relief valves, temperature controls, and leak detection systems. These additions provide homeowners with peace of mind, knowing that their water heater is operating safely and efficiently.
Conclusion
The storage water heater market is undergoing a transformation driven by a commitment to energy efficiency, innovative technologies, and a growing focus on sustainability. From hybrid models to smart technology integration, these trends are revolutionizing the way we experience comfort at home. As consumers become more conscious of their environmental impact and energy usage, the future of storage water heaters looks promising, offering a blend of comfort, efficiency, and eco-friendliness. By staying informed about these latest trends, homeowners can make choices that not only enhance their daily lives but also contribute to a more sustainable planet.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com or connect with our experts at +1-313-307-4176.
In the world of home comfort, few appliances are as indispensable as the water heater. Whether it's a relaxing hot shower or clean dishes after a family dinner, a reliable water heater ensures our daily routines run smoothly. In recent years, the storage water heater market has witnessed a revolution driven by innovation and a growing focus on energy efficiency. In this article, we'll explore the latest trends shaping the storage water heater industry, and how these advancements are revolutionizing the way we experience comfort at home.
According to Stratview Research, the Global Storage Water Heater Market was estimated to grow from USD 18.2 billion in 2021 to USD 24.4 billion by 2028 at a CAGR of over 4.22% during the forecast period of 2022-2028.
A storage water heater is a type of domestic water heating appliance that uses a hot water storage tank to maximise water heating capacity and provide instantaneous hot water delivery.
To learn more about the report, click here:
https://www.stratviewresearch.com/2980/storage-water-heater-market.html
Energy Efficiency Takes Center Stage
One of the most significant shifts in the storage water heater market is the emphasis on energy efficiency. With environmental concerns and rising energy costs, consumers are increasingly seeking models that not only provide ample hot water but also do so with minimal impact on the environment and their wallets. Manufacturers have responded by developing storage water heaters equipped with advanced insulation, heat pumps, and other technologies to optimize energy usage.
The Rise of Hybrid Water Heaters
Hybrid water heaters have emerged as a game-changer in the market. These innovative units combine the efficiency of heat pump technology with traditional heating elements. By extracting heat from the surrounding air, they can produce hot water using significantly less energy compared to conventional models. This trend is especially popular among eco-conscious consumers looking to reduce their carbon footprint.
Smart Technology Integration
In the era of the Internet of Things (IoT), smart technology has permeated virtually every aspect of our lives, including home appliances. Storage water heaters are no exception. The latest models come equipped with Wi-Fi connectivity, allowing homeowners to monitor and control their water heaters remotely through smartphone apps. This not only provides convenience but also enables users to optimize settings for energy efficiency, ultimately leading to cost savings.
Improved Tank Insulation
Traditionally, storage water heaters lose heat over time, leading to standby energy loss. To combat this, manufacturers are now incorporating advanced insulation materials and techniques to minimize heat loss from the tank. This means water stays hotter for longer periods, reducing the need for constant reheating and lowering energy consumption.
Integration with Renewable Energy Sources
As the world embraces cleaner energy options, storage water heaters are becoming increasingly compatible with renewable energy sources like solar power. Solar thermal systems can be integrated with water heaters, allowing them to harness the power of the sun to heat water. This not only reduces reliance on conventional energy sources but also contributes to a greener, more sustainable future.
Compact and Space-Saving Designs
Modern homes often face space constraints, prompting manufacturers to develop more compact and space-saving storage water heater models. These units are designed to fit into smaller areas, such as closets or utility rooms, without sacrificing performance. Additionally, some models can even be wall-mounted to free up valuable floor space.
Enhanced Safety Features
Safety is a paramount concern for any household appliance, and storage water heaters are no exception. The latest models are equipped with advanced safety features, including pressure relief valves, temperature controls, and leak detection systems. These additions provide homeowners with peace of mind, knowing that their water heater is operating safely and efficiently.
Conclusion
The storage water heater market is undergoing a transformation driven by a commitment to energy efficiency, innovative technologies, and a growing focus on sustainability. From hybrid models to smart technology integration, these trends are revolutionizing the way we experience comfort at home. As consumers become more conscious of their environmental impact and energy usage, the future of storage water heaters looks promising, offering a blend of comfort, efficiency, and eco-friendliness. By staying informed about these latest trends, homeowners can make choices that not only enhance their daily lives but also contribute to a more sustainable planet.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com or connect with our experts at +1-313-307-4176.
