Instant water heater is a heating device that utilizes energy from various external sources to heat water. Selection of a proper water heater depends upon several important factors such as type of building, which it is to be installed into, requirement of householders, availability of fuel types, fuel cost and efficiency of a system, installation and maintenance cost, storage and distribution temperature, and user safety.
The hospital and hotel industry has a lot of demand for hot water. Hospitals require enough hot water for washing & bathing of patients, cleaning of buildings, and laundry. Moreover, they require hot water to clean and sanitize surfaces within their facilities. In addition, tankless water heaters are used in hospitals for patients with ageing or sensitive skin, as they require precise heating. Risk of inconsistent heating can be reduced by installing a tankless water heater with built-in temperature control. On the other hand, demand for water heaters is on a constant rise with increase in number of hotels. Small or luxury hotels provide hot water to customers every time they demand for it. This requires a lot of electricity that affects both environments, thus increasing utility bills. Therefore, instant water heaters are widely used in hotels, as they provide instant hot water upon requirement. Hence, increase in number of hotels and hospitals significantly drive growth of the instant water heater market.
Electricity prices reflect cost to build, maintain, finance, and operate electricity grids and power plants. Moreover, owing to various factors, such as varying fuel cost, maintenance & operating costs of power plants, and costs related to transmission & distribution systems, several countries are witnessing rise in price of electricity, which, in turn, leads to high operating costs of electric water heaters. Rise in price of electricity is majorly influenced by cost of fuel, as it can vary during periods of high demand. High electricity demand may result increase in demand for fuel such as natural gas, which may result in higher cost to generate electricity. Furthermore, every power plant or grid has its maintenance, construction, and operating costs that lead to price hike. In addition, electricity prices are mostly higher in summers when the demand is extremely high, as more expensive sources for electricity generation are applied to meet the increased demand. Hence, rise in electricity prices and high operating cost of electric water heaters hamper growth of the instant water heater market worldwide.
The key players of the global water heater industry profiled in the report include A.O. Smith Corporation, Ariston Thermo S.P.A., Bradford White Corporation, General Electric Company, Ferroli S.P.A, Havells India Ltd, Nihon Itomic Co., Ltd, Rheem Manufacturing Company, Vaillant Group, and Whirlpool Corporation.
The report provides a quantitative analysis of the current trends, future estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing market opportunities.
The key countries in all major regions are mapped on the basis of instant water heater market share.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis and market size and segmentation assist to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global instant water heater industry.
Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players.
The instant water heater market report includes the market analysis at regional as well as the global level, key players, market segments, and growth strategies.
Competitive intelligence of the industry highlights the business practices followed by key players across geographies and the prevailing market opportunities.
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview 3.1.Market Definition and Scope 3.2.Porter's Five Forces Analysis 3.3.Top Player Positioning, 2019 3.4.Market Dynamics 3.4.1.Drivers 22.214.171.124.Construction Industry to Boost Residential Applications of Instant Water Heaters 126.96.36.199.Rise in Number of Hospitals & Hotels and Wide Domestic Applications 188.8.131.52.Surge in Population and Improvement Infrastructure of Rural Areas 3.4.2.Restraints 184.108.40.206.Increase in Electricity Prices and High Operating Costs 220.127.116.11.Frequent Outages and Electricity Shortage 3.4.3.Opportunities 18.104.22.168.Opportunities in Developing Countries 22.214.171.124.Product Innovation from Instant Water Heater Manufactures 3.5.Value Chain Analysis 3.6.Parent Market Share 3.7.Impact of COVID-19 on Global Instant Water Heater Market
Chapter 4: Instant Water Heater Market, by Product Type
Chapter 5: Instant Water Heater Market, by Application
Chapter 6: Instant Water Heater Market, by Distribution Channel