The US water heater market is anticipated to grow at a CAGR 4.2% during the forecast period. The US is the major economy in North American region attributed to well-established infrastructure in the industrial sector. Increasing demand for water heaters in different manufacturing and power plants is estimated to contribute to the growth of the US Water Heater market. A large quantity of water is required to maintain power plants as operational. In power plants, water heaters are used to pre-heat water which increases the efficiency of the power plant. Increasing demand for energy production and supportive government regulations are driving the demand for water heaters in the industrial sector. There is a large number of power plants in the US with excellent production capacity. For instance, Sithe Independence Station and Sioux power plant had production capacity of 1,086 MW (megawatt) and 1,099 MW in 2016, respectively as per World Resources Institute (WRI).
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A.O. Smith Corp., Takagi, Kenmore, Watts Water Technologies, Inc., and Bradford White Corp. are providing water heating systems in the US market and international market as well. The high consumption of water heaters has affected the environmental condition which encourages these market players to develop energy efficient water heaters. For instance, Environmental Protection Agency (EPA) and the Department of Energy (DOE) introduced a joint program ENERGY STAR in order to assist consumers in saving money and protecting the environment by offering energy-efficient products and practices. The ENERGY STAR label indicates high-performance; cost-effective products can be used in homes, and buildings. Many home appliances such as heat pump water heaters, gas storage water heaters, solar water heaters, and commercial water heaters are available in ENERGY STAR label.
US Water Heater Market Segmentation
By Energy Source
- Gas
- Electricity Water Heaters
- Hybrid Water Heaters
- Solar Water Heaters
By Mode of Water Supply
- On-Demand or Tankless Water Heaters
- Storage Or Tank Water Heaters
By End-User
- Residential
- Commercial
- Industrial
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Company Profiles
- A.O. Smith Corp.
- Bradford White Corp.
- EcoSmart
- General Electric
- Goodman
- HTP Comfort Solutions LLC.
- NORITZ Corp.
- Rheem Manufacturing Company, Inc.
- Stiebel Eltron, Inc.
- Whirlpool
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