2020 September, Magarpatta SEZ, Pune, “ReportsnReports”, one of the world’s prominent market research firms has released a new report on Global Heat Pump Water Heater Market The report contains crucial insights on the market which will support the clients to make the right business decisions. This research will help both existing and new aspirants for Heat Pump Water Heater Market to figure out and study market needs, market size, and competition. The report talks about the supply and demand situation, the competitive scenario, and the challenges for market growth, market opportunities, and the threats faced by Top key players.
The report also includes the impact of ongoing global crisis i.e. COVID-19 on the Heat Pump Water Heater Market and what the future holds for it. The published report is designed using a vigorous and thorough research methodology and ReportsnReports is also known for its data accuracy and granular market reports.
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“The global heat pump water heater market size is projected to grow at a CAGR of 6.8%, from 2020 to 2026.”
The global heat pump water heater market size is projected to reach USD 2.1 billion by 2026 from an estimated value of USD 1.4 billion in 2020, at a CAGR of 6.8%. Factors driving the growth of the heat pump water heater market include the energy efficient technology along with the usage of non conventional sources of energy to heat the water. In addition, supportive regulations and grants for using renewable sources of energy in different applications are also expected to play a key role in the growth of this market during the forecast period.
“The Air Source segment is expected to hold the largest share of the heat pump water heater market, by type, during the forecast period.”
The air source segment is estimated to be the largest- segment of the heat pump water heater market, by type, from 2020 to 2026. Air source heat pump water heaters offer exceptionally high operational efficiency and has a lower installation cost in comparison with geothermal heat pump water heater. They are mainly used in the residential sector because a multi family building will generally have a requirement of heat pump water heater that occupies less space and have low installation cost due to low hot water requirements in comparison with commercial buildings such as hotels and Hospitals.
“Asia Pacific: The fastest growing market for heat pump water heater.”
The Asia Pacific is expected to be the largest as well as the fastest growing heat pump water heater, by region, during the forecast period. Countries such as China, New Zealand and Australia are the fastest-growing markets in the Asia Pacific region. Asia Pacific is expected to dominate the heat pump water water heater market during the forecast period as owing to the increase in the use of renewable energy and energy efficient products. Several leading players in the heat pump water heater market such as A.O. Smith Corporation, RHEEM Manufacturing, and Midea Group have their manufacturing facilities in countries such as China, India, and Malaysia. The region is home to a number of emerging economies such as China, India, Singapore, and Malaysia.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 47.2%, Tier 2- 30.7%, Tier 3- 22.1%
- By Designation: C-Level Executives- 42.1%, Managers- 39.6%, Others- 18.3%
- By Region: Asia Pacific- 50.1%, South America- 2%, Europe- 25.8%, and North America- 22.1%
Note: The tier of the companies has been defined based on their total revenue; as of 2017: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = < USD 1 billion.
The key players in the comercial water heaters such as Midea Group (China), RHEEM Manufacturing Company (US), Daikin (Japan), A.O. Smith Corporation (US), Bosch Industries (Germany), and Ingersoll Rand (US), etc. and other players such as Viessmann Group (Germany), NIBE Energy Systems (Sweden), Valliant Group (Germany), Daikin (Japan), Mitsubishi Electric (Japan), Glen Dimplex (Ireland), StiebelEltron (Germany), and more.
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The global Heat Pump Water Heater Market is expected to witness a promising growth in the next few years. The rising level of competition among the leading players and the rising focus on the development of new products are likely to offer promising growth opportunities throughout the forecast period. The research study on the global Heat Pump Water Heater Market offers a detailed overview, highlighting the key aspects that are expected to enhance the growth of the market in the near future. The key segmentation and the competitive landscape of the market have also been mentioned at length in the research study.
This report studies the Heat Pump Water Heater Market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Heat Pump Water Heater Market by product type and applications/end industries. These details further contain a basic summary of the company, merchant profile, and the product range of the company in question. The report analyzes data regarding the proceeds accrued, product sales, gross margins, price patterns, and news updates relating to the company.
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The report helps to identify the main Heat Pump Water Heater Market players. It assists in analyzing Heat Pump Water Heater Market competitive environment, including company overview, company total revenue, market opportunities, value, production sites and facilities, SWOT analysis, product details. The study also reveals the sales, revenue and market share for each market player included in this report for the period of 2015-2020. It also helps to ascertain the growth drivers and future prospects for the forecast timeline.
Conclusively, this report is a one stop reference point for the industrial stakeholders to get Heat Pump Water Heater Market forecast of till 2025. This report helps to know the estimated market size, market status, future development, growth opportunity, challenges, growth drivers of by analyzing the historical overall data of the considered market segments.
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