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Apr 04, 2023

India Electric Water Heater Market Size, Growth

According to the latest report by IMARC Group, titled “ India Electric Water

According to the latest report by IMARC Group, titled "India Electric Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The India electric water heater market size reached US$ 264.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 432.2 Million by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.

Industry Definition and Application:

Electric water heater represents specialized systems that heat water utilizing high-voltage and vertically positioned electric heating rods. They are of various types, including normal plate heaters, immersion heaters, geyser water heaters, etc. These electric water heater systems are made using stainless steel and have a glass-based liner, glass-based coating, or enamel that protects the interior surface and provides a longer shelf life. They are easy to install and extremely cost-effective compared to gas-powered water heaters. Consequently, they find extensive applications across residential, commercial, and industrial establishments across India.

India Electric Water Heater Market Trends:

The rising adoption of personal electric water heating systems for hygiene purposes and the escalating changes in the architectural designs of residential buildings are among the key factors driving the India electric water heater market. In addition to this, the inflating demand for premium homeware products among the masses and the expanding solar water heating industry are further stimulating the market across the country. Apart from this, the introduction of new product variants with advanced features that offer corrosion resistance, smart control and monitoring systems, and a limited chance of dry firing is also positively influencing the market growth. Moreover, the elevating focus of leading market players on enhancing product design and aesthetics and the increasing entrance of international manufacturers in the market are acting as significant growth-inducing factors. Besides this, the growing product availability through multiple online retail channels and the shifting consumer preferences toward instant water heating solutions are anticipated to bolster the India electric water heater market over the forecasted period.

Request for a free sample copy of this report: https://www.imarcgroup.com/india-electric-water-heater-market/requestsample

India Electric Water Heater Market 2023-2028 Analysis and Segmentation:

The report has segmented the market on the basis on region, product type, capacity, distribution channel, end user.

Breakup by Product Type:

TankTankless

Breakup by Capacity:

Less Than 100 Liters100 to 400 LitersMore Than 400 Liters

Breakup by Distribution Channel:

OnlineOffline

Breakup by End-User:

ResidentialCommercialIndustrial

Breakup by Region:

North IndiaWest and Central IndiaSouth IndiaEast India

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure:https://www.imarcgroup.com/request?type=report&id=6220&flag=C

Key highlights of the report:

Market Performance (2017-2022)Market Outlook (2023 – 2028)Porter's Five Forces AnalysisMarket Drivers and Success FactorsSWOT AnalysisValue ChainComprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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