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The Thermostatic Water Heater Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Thermostatic Water Heater is the increasing demand for Thermostatic Water Heater in various industries.
This report on the Thermostatic Water Heater Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Thermostatic Water Heater Market. The report intends to present a thorough analysis of the Thermostatic Water Heater Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Thermostatic Water Heater Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Thermostatic Water Heater Market are-
• Haier Group Corporation (China),
• Midea Group (China),
• A. O. Smith Corporation (The U.S.),
• MACRO (China),
• NORITZ CORPORATION (Japan),
• Vatti (China),
• Rinnai (Japan),
• Taiwan Sakura Corporation (China),
• EuroICC (Serbia),
• Guangdong Vanward New Electric CO., LTD (China),
• Navien, Inc. (The U.S.), and
• Rheem Manufacturing Company (The U.S.).
Growth drivers and Market Value:
This report, from Stratview Research Thermostatic Water Heater Market value and growth drivers over the trend period of 2022-27. According to the report -
The thermostatic water heater is a household device that comprises a gas or electric heating unit under a tank in which the water is heated and stored. The thermostat in the water heater is a device that keeps the temperature in the heater at the desired level. It cuts off the power supply once the required temperature is achieved. The commonly used water heaters include constant temperature gas water heater and constant temperature electric water heater.
Segment Analysis:
Based on by Application Type:
• The home segment is projected to register the highest CAGR owing to high product demand coupled with growing urbanization and increasing purchasing power.
• Additionally, increasing prevalence of strict building energy efficient standards is also likely to fuel the demand for energy efficient water heaters.
• The hotel segment is also growing at a considerable rate because of the increasing number of hotels.
Based on Regional:
On the basis of region, the Asia Pacific witnessed the largest market share in 2021 and is likely to register a healthy CAGR by the end of 2026. Increasing urbanization and expanding populace coupled with rising per capita disposable income are some of the key factors propelling the market growth in the region. Growing demand for energy efficient water heaters with rising energy efficiency standards is likely to drive the product growth in developed regions.
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