India Water Heater Market Outlook
Market Forecast By Types (Electric Water Heater, Gas Water Heater, Solar Water Heater), By Capacity (Upto 5 Litre, 5.1 -10 Litre, 10.1 -20 Litre, Above 20 Litre), By Application (Residential, Commercial), By Distribution Channel (Online, Offline), By Regions (Northern, Southern, Western, Eastern) And Competitive Landscape
According to 6Wresearch, the India Water Heater Market revenue size is projected to grow at a CAGR of 6.9% during 2021-27F. Rising disposable income and the cold winters are also the major factors contributing to the growth of the water heater market. The projected growth in India water heater market for the coming years can also be attributed to the growing hospitality sector in the country. The hospitality sector has also provided opportunity growth in the solar water heater segment owing to its low operational cost and energy efficiency. With the different designs and innovations by the manufacturers in the water heater product, the adoption of water heaters is anticipated to rise in the coming period. After the outbreak of coronavirus, companies have shifted their focus towards e-commerce platforms as well which helped them in growing their consumer base in the Tier I and Tier II cities.
The India water heater market witnessed a decent growth in recent years on account of the growing consumer demand for water heaters in India underpinned by strong growth of urban population and rising hospitality sector. Water heater market witnessed an upward growth trajectory mainly attributed to rise in demand from urban consumers as they are more inclined towards modern day thermal appliances which are efficient and easy to manage.
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Market by Types Analysis
In terms of Types, electric water and solar water heater cumulatively have captured 85% of the market revenues in 2020, with electric water heater leading the market. Electric water heaters have garnered the majority share in the India water heater market in terms of revenue and volume on account of the lower price and easy installation.
Key Highlights of the Report
India Water Heater Market Overview
India Water Heater Market Trends
India Water Heater Market Outlook
India Water Heater Market Forecast
Market Drivers
Market Restraints
Porter’s Five Force Analysis
Market Opportunity Assessment
Industry Life Cycle
India Water Heater Market Player’s Revenue Shares
Market Competitive Benchmarking
Company Profiles
Key Strategic Recommendations
Historical Data and Forecast of Revenues, By Applications, for the Period 2017-2027F
Historical Data and Forecast of Revenues, By Distribution Channels, for the Period 2017-2027F
Historical Data and Forecast of Revenues, By Regions, for the Period 2017-2027F
Historical Data and Forecast of India Water Heater Market Revenues & Volume for the Period 2017-2027F
Historical Data and Forecast of Revenues & Volume, By Types, for the Period 2017-2027F
Historical Data and Forecast of Revenues & Volume, By Capacity, for the Period 2017-2027F
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