Growing Demand for Hot Water to Fuel Growth of Water Heater Market Worldwide

Published By : 02 Jun 2016 | Published By : QYRESEARCH

Water heating refers to a thermodynamic process, which makes the use of an energy source. Ho water is one of the most essential thing that is used for several procedures in everyday activities. Some of the most common usage of hot water are cooking, bathing, space heating, and cleaning. The applications that make use of diverse energy sources for the process of heating water from its original temperature to a different temperature are called as water heaters. Water heaters find applications in diverse industrial sectors such as thermal power plants, food and beverage industry, and chemical industry.

Water heaters are used widely in residential properties as well as for commercial purposes. In addition, water heaters are also used in diverse industries for different procedures. As a result, the demand for water heaters is projected to increase in the next few years.

There are some of the key types of water heaters available across the globe such as:

  • Electric Water Heaters
  • Solar Water Heaters
  • Geothermal Water Heaters
  • Gas and Propane Water Heaters

Among all these types, solar water heaters are gaining immense popularity in the last few years, owing to the growing awareness regarding less energy consumption in the last few years. In addition, the governments of diverse countries are taking initiatives to encourage the use of solar energy and save other forms of energy for a better future.

Rising Demand for Water Heaters to Encourage New Players in Global Water heaters Market

The high demand for water heaters has encouraged several players to expand their product portfolio and gain the competitive advantage in the global market. The market players are spending an enormous amount on research and development activities in order to introduce new and innovative products in the next few years. 

Some of the prominent players engaged in the global market for water heaters are Zhejiang KANCHQUAN Electric Appliance, Haier Electronics Group, Bradford White Corp., Rinnai Corp., Venus Home Appliances (P) Ltd., Siemens AG., Ariston Thermo SPA., Rheem Manufacturing Co., Zhongshan Inse Group, Genrui, HTP Inc., Noritz Corp., Bajaj Electricals Ltd., Himin Solar Co., Ltd, Jiaxing Jinyi Solar Energy Technology Co, Ltd., and AO Smith Corporation.

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