According to a report released by TechSci Research, ‘India Water Heater Market By Type, By Instant Vs. Storage, By Distribution Channel, Competition Forecast & Opportunities, 2013–2023’, India water heater market is projected to cross $ 600 million by 2023. Demand for water heaters is expected to grow in the country on account of rising disposable income, expanding middle class population, rising number of nuclear families and construction of new housing units. Additionally, technological advancements in products like water heaters with in-built programmable timer, coupled with rising demand for low-cost and efficient water heaters is likely to propel the demand for water heaters across the country in the coming years. Furthermore, changing consumer preference for high-quality, energy efficient products and tankless water heaters may offer new avenues for the market players in the coming years.
Browse 37 market data Figures and Tables spread through 82 Pages and an in-depth TOC on "India Water Heater Market"
V-Guard Industries Limited is the market leader in India water heater market, followed by Racold Thermo Private Limited, Bajaj Electricals Ltd., A. O. Smith India Water Products Pvt. Ltd., etc. Among different water heater types, electric water heater has the largest share and is projected to remain the largest selling water heater category through 2023. The advent of e-commerce in India has created new routes for manufacturers to reach their customers. Online sales channel is enabling companies to widen their distribution reach and serve their customers even in the farthest of the regions. This is leading to a shift towards modern shopping format, i.e., e-commerce, from traditional sales formats in India. Nevertheless, multi-branded electronic stores are expected to continue dominating India water heater market until 2023.
“Growing trend of nuclear families in tier II and tier III cities, coupled with launch of advanced technology-based products such as eco-friendly and energy efficient water heaters is expected to continue fueling demand for water heaters across India in the coming years. Moreover, government initiatives such as ‘Make in India’ that are aimed to transform India into a manufacturing hub, would have a positive impact on the country’s water heaters market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“India Water Heater Market By Type, By Instant Vs. Storage, By Distribution Channel, Competition Forecast & Opportunities, 2013–2023” has evaluated the future growth potential of water heaters in India and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India water heater market.
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