SELBYVILLE, Del. - June 29, 2020 - (Newswire.com)
Asia Pacific water heater market revenue is poised to cross USD 12 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Rising standards of living, increased consumer spending on smart heating appliances along with increasing distribution centers by the eminent players in Tier 2 cities will augment the product demand. Moreover, availability in multiple capacity, energy savings along with longer lifespan with minimal maintenance are the key features influencing the industry landscape.
Expanding infrastructure development along with the ongoing construction of smart cities would result in greater deployment of water heaters which will impact commercial water heater demand. Supportive government initiatives and strategies leading to the adoption of renewable technologies have further accelerated the penetration of water heating equipment in the sector. Various industry players focused on smart and advanced heating equipment development will further augment the business landscape.
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30-100 liters heating systems will witness surging demand owing to increasing small scale industries along with ongoing deployment across various single & multifamily apartments. Growing rural electrification projects by the respective regional & state governments in the developing economies are anticipated to fuel the product demand. Increasing investments from World Bank and International Development Organizations (IDOs) is anticipated to positively impact product penetration.
Some major findings of the Asia Pacific water heater market report include:
- The demand for water heaters in the Asia Pacific region is mounting on account of rising adoption in both residential & commercial sectors.
- Increasing number of smart city projects along with rapid expansion of the building infrastructure is driving the water heating demand across the Asia Pacific establishments.
- Major players operating in the Asia Pacific water heater market are Alpha Electric, Bajaj, A.O. Smith, Racold, Rheem Manufacturing, and Ariston Thermo.
- The leading industries are involved in expanding their distribution channels to provide innovative product advancements.
Browse key industry insights spread across 435 pages with 547 market data tables & 48 figures & charts from the report, “Asia Pacific Water Heater Market Report By Application (Residential, Commercial), Product (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}, Gas{< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/asia-pacific-water-heater-market
The outbreak of the novel coronavirus has led to a global pandemic that has affected the global economy, impacting various industries including component manufacturing & construction among others. The industry manufacturers worldwide bear supply shortages on account of lockdowns imposed by the respective countries. Additionally, there are various challenges that the manufacturing facilities face in resuming production due to ongoing labor shortages. Nevertheless, the expansion and development of various healthcare facilities to fight the global pandemic are further anticipated to enhance product demand.
The Thailand water heater market is set to witness over 5% CAGR through 2026. The growing need for hot water across the domestic applications along with significant cost savings with the use of energy-efficient models is set to augment business growth. Large scale adoption of high-end, large and smart capacity products, witnessing technological development is set to fuel the product deployment. Additionally, mounting demand for clean fuels coupled with rising concerns in regard to carbon dioxide emissions will positively enhance the business outlook for the Asia Pacific water heater market.
Inorganic growth ventures by the leading players are the substantial initiatives that will foster the business landscape. The companies are pursuing various expansion initiatives including increasing the number of distribution channels in primarily Tier 2 and Tier 3 cities will support gain a competitive edge. Product advancements including remote sensing & management, Wi-Fi integration and leakage detection options will propel product adoption. Rising investments toward product innovations and shifting focus toward low-cost manufacturing will support offer competitive pricing.
Access the ToC of this report @ https://www.gminsights.com/toc/detail/asia-pacific-water-heater-market
Browse Related Reports:
Global Water Heater Industry By Application (Residential, Commercial [College/University, Office, Government/Military]), Fuel (Natural gas, LPG), Product (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}, Gas{< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}]), Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/water-heater-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Original Source: Asia Pacific Water Heater Market Worth $12 Billion by 2026, Says Global Market Insights, Inc.
