Global Electric Water Boilers Market Projected to Gain Significant Value by 2024-2032

Electric Water Boilers Market Size And Forecast

Electric Water Boilers Market size was valued at USD 9.2 Billion in 2024 and is projected to reach USD 24.1 Billion by 2031, growing at a CAGR of 10.2% during the forecast period 2024-2031.

The Global Electric Water Boilers Market is driven by many growth factors, such as the growth of the demand for cylinder-less water heaters, due to their energy efficiency, and the need for less storage. Growing demand for solar water heaters is a key factor in the market. The Global Electric Water Boilers Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well an analysis of the trends and factors that are playing a substantial role in the market.

Global Electric Water Boilers Market Definition

An electric water boiler also called a Thermo pot, is an electronic device that is used to heat water and to maintain a constant temperature. It is typically used as a direct source of hot water for tea, hot chocolate, tea, coffee, instant noodles, or baby formula, as well as for home cleaning water. Some of the boilers are designed with a function to purify water.

An electric water boiler consists of a tank with a heating element at the bottom. Some of the models come in a variety of temperature settings. Other models are part of larger systems for the supply of hot-cold water. Water can be distributed in a variety of ways, by means of an electric pump or by pressing a large button that functions as a diaphragm pump. Electric hot water boilers have a built-in thermostat that senses when the water reaches its boiling point of 100 °C (212 °F) at which it will automatically turn off.

Global Electric Water Boilers Market Overview

Water is one of the largest consumers of energy in the home, is often worse than that of the energy charge due to the cooking, cooling, and lighting. The climate and culture often impact the type and size of water heaters used in households and for commercial purposes. The Global Electric Water Boilers Market is driven by many growth factors, such as the growth of the demand for cylinder-less water heaters, due to their energy efficiency, and the need for less storage. Growing demand for solar water heaters is a key factor in the market.

The demand for hybrid water heaters on the market is increasing and has drawn the attention of manufacturers to develop energy-efficient hybrid water heaters. The growth in the use of fast-heating technology with important characteristics, such as high energy efficiency and low operating costs, will contribute to the growth of the market. Use of additional functions in the home, including cooking, cleaning, and hygiene, with special thanks to the advanced communication and monitoring functions to promote the business globally.

Global Electric Water Boilers Market Segmentation Analysis

The Global Electric Water Boilers Market is segmented on the basis of Product, Applications, And Geography.

Electric Water Boilers Market, By Product

• Direct Plug-in
• Rotation Type
• Other

Based on Product, The market is bifurcated into Direct Plug-in, Rotation Type, and Other. Direct Plug-in dominated the market in 2019 and is likely to continue the trend in the forecast period. Rotation types lack market share because of their low popularity.

Electric Water Boilers Market, By Application

• Residential
• Commercial

Based on Applications, The market is bifurcated into Residential and Commercial. The Residential segment dominated the market in 2019 and is likely to continue the trend in the forecast period. The Commercial segment is getting popularity with the increasing micro industries.

Electric Water Boilers Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Electric Water Boilers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the global market in 2019 and is likely to continue the trend in the forecast period. The Asia Pacific is expected to grow at a rapid pace in the forecast period owing to rapid urbanization and industrialization with an increased investment towards smart & efficient technology, with most contributions coming from India, China, and Japan.

Key Players

The “Global Electric Water Boilers Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as A.O. Smith, Bradford White, GENERAL ELECTRIC, Rheem, Haier, Noritz, Bosch, Reliance Water Heater Company, HTP, and Electrolux Manufacturing Company.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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