North America Electric Water Heater Market is expected to grow from US$ 2,838.2 Mn in 2018 to US$ 3,649.8 Mn by the year 2027 at a CAGR of 2.8% during the forecast period.
The rising demand for non-storage water heaters and growth in disposable income is expected to drive the North America electric water heater market. Dynamics, such as enhancing environmental sustainability, energy efficiency, and temperature control during the forecast period is expected to fuel the North America electric water heater market. In addition, the increasing demand across domestic applications such as bathing, cleaning, and cooking, also from commercial and industrial end-use such as hospitals, hotels, and the power industry, might boost electric water heater market growth.
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North America Electric Water Heater Market–Segmentation:
North America Electric Water Heater Market – By Product:
- Storage
-
- < 30 Litres
- 30 – 100 Litres
- 100 – 250 Litres
- 250 – 400 Litres
- > 400 Litres
- Non-storage
North America Electric Water Heater Market – By Application:
- Residential
- Commercial
- Industrial
North America Electric Water heater Market By Country:
- US
- Canada
- Mexico
The rising residential infrastructure worldwide is enabling the market players operating in the electric water heater market to enhance their respective product range to attract a wide variety of customers. The awareness of benefits and application areas of electric water heaters is peaking among the urban population, and pertaining to this, the adoption of the same is continuously growing, which is then furnishing the revenue size of the electric water heaters market. Thus, with the escalating migration from rural areas to urban areas in different countries, the demand for electric water heaters in the residential sector would soar in the coming years. Therefore, the urban immigration factor is a key influential factor for the electric water heater market throughout the forecast period.
The North America electric water heater market is expected to grow at a good CAGR during the forecast period. The growing demand for electric heater in the commercial spaces are supporting the increasing demand for the electric water heater market in North America.
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Major Features of North America Electric Water Heater Market Report:
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Electric Water Heater Market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America Electric Water Heater Market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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