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Global water heater market forecast to increase by 5.4% CAGR during 2013 to 2018

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Global Water Heater Market 2014-2018 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-11 09:45:01
The Global Water Heater market is forecast to grow at a CAGR of 5.43 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for tank-less water heaters. The Global Water Heater market has also been witnessing the emerging demand for hybrid water heaters. However, the high threat of rivalry could pose a challenge to the growth of this market.

Key vendors dominating this space are A. O. Smith Corp., Rheem Manufacturing Co., GE Co., and Siemens AG.

Other vendors mentioned in the report are Ariston Thermo SPA, Bajaj Electricals Ltd., Bradford White Corp., Crompton Greaves Ltd., Haier Water Heater Co. Ltd., Heat Transfer Products Inc., Noritz Corp., and Rinnai Corp.

The following companies represent the key players in Global Water Heater Market: A. O. Smith Corp., Rheem Manufacturing Co., GE Co., and Siemens AG.

The Global Water Heater market is witnessing emerging demand for hybrid water heaters due to their energy-efficiency, which conventional water heaters lack. They also use the latest technology and consume less energy. Thus, the increasing demand for hybrid water heaters is expected to increase the overall potential in the Global Water Heater market during the forecast period.

The Global Water Heater market is driven by several growth factors, one of which is the increasing demand for tank-less water heaters. These water heaters are increasingly being adopted by end-users as they are more energy-efficient than conventional water heaters and they require less installation space.

Further, the high threat of rivalry is one of the major challenges in the market. Post the global economic recession, the market has been witnessing a steady growth rate, enabling vendors to have a good market presence and provide water heaters at competitive prices.

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