Indian Domestic Water Heaters Market, Forecast to FY2024

Introduction of Technologically Advanced Water Heaters, Improved Scenario of Electricity Availability, and Rising Disposable Income Will Drive Market Growth

This study aims to analyze and forecast the Indian domestic water heaters market for the period FY2019 to FY2024.

Water Heaters are among the fastest growing home appliances that provide a continual supply of hot water. Typical domestic uses of hot water include cooking, cleaning, bathing, and space heating. The growth of the water heaters market in India is led by an increasing number of new residential units, rising per capita disposable income, improving standard of living, and technological advancements. Some of the major participants operating in the Indian water heater market include Racold Thermo Private Limited, V-Guard Industries Ltd., Bajaj Electricals Ltd., Venus Home Appliances (P) Ltd, Crompton Greaves Consumer Electricals Ltd., Havells India Limited, A. O. Smith India Water Products Pvt. Ltd., and Usha International Ltd.

This research study on the water heaters market in India offers the most up-to-date market data on the actual market situation by product type (electric storage water heaters, electric instant water heaters, electric tankless water heaters, solar water heaters, and gas water heaters); key end-user segments (residential, commercial, and others); and regions (North, South, East and West). The report covers the market landscape and analyzes its growth prospects over the coming years. It also includes a discussion on the key companies operating in this market. Further, it makes forecasts for the period covering FY2019 to FY2024 and presents a future outlook for the market, which makes it an invaluable resource for industry executives; marketing, sales and product managers; analysts; and other people looking for key industry data along with readily accessible and clearly presented tables and graphs.

Research Scope

Market by Product Type

• Electric Storage Water Heater: A domestic water heating appliance that consists of an insulated storage tank, usually cylindrical, to maximize heating capacity and provide instantaneous delivery of hot water.
• Electric Instant Water Heater: A water heater that heats the water on demand and does not store any water internally except for what is in the heat exchanger coil. This heater ensures a steady stream of heated water as per its capacity.
• Electric Tankless Water Heater: A premium instant water heater wherein the flow of hot water is uninterrupted and independent of the capacity.
• Solar Water Heater: A device that uses solar panels to heat the water which is delivered to a storage tank.
• Gas Water Heater: A heater, be it storage or instant, which uses natural gas as a medium to heat water.

Market by Key end-user segments

• Residential, Commercial, Industrial, Transport, Government & Others

Geography

• India, analyzed by the North, East, West, South regions

Study Period

• FY2019 to FY2024; Base Year–FY2019; Forecast Years–FY2020 to FY2024

Key Issues Addressed

• Is the market growing, how long will it continue to grow, and at what rate?
• What is the current market size and segmentation by type of product, region, and end user?
• What is the future growth potential of Water Heaters in India? What will be the major drivers and trends impacting the market?
• What is the industry structure and how is the competitive environment?
• Where are the key growth opportunities and how can brands capitalize on them?
• What is the current distribution structure and how is it going to change in the future?