The North America residential water heater industry value is touted to exhibit lucrative growth in the coming years owing to the increasing demand for electric water heater units in the region. The rising demand is due to the surging preference for alternative solutions against conventional sources of energy such as biofuel, wood, and coal.

The actual energy savings for water heaters are particularly dependent on the location and size of the heater, the positioning of water pipes, and the size of family. The industry outlook is set to be driven by the ongoing developments in building infrastructure including multi-family and single family apartments.

The units surpass the energy consumption when used for household activities. In addition, they provide major benefits comprising lower upfront cost, better safety, and longer lifespan, positively influencing product adoption.

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Rigorous building efficiency norms and standards and the ongoing development of sustainable building projects will augment North America residential water heater industry size. The market growth is driven by ongoing stipulations by the governing authorities for shifting towards the use of energy-efficient appliances for restricting the growth of carbon emissions.

Owing to these factors, the North America residential water heater market share is expected to exceed 14 million units in annual installations through 2027, according to the latest research conducted by Global Market Insights, Inc.

This upsurge is accredited to an increase in the adoption of strategic initiatives by key residential water heater manufacturers, comprising mergers, acquisitions, partnerships, and product developments for consolidation of their position in the market.

For instance, in September 2019, GE Appliances announced an investment of $60 million for the creation of a Manufacturing Center of Excellence for the production of water heaters at the company’s Camden-based plant.  

In addition to such developments, the introduction of new technologies and inorganic growth ventures will boost the product penetration. Mounting investments in product innovations coupled with shifting focus toward low-cost production will lead to competitive pricing in the market. The product demand is estimated to be driven by increasing advancements comprising remote sensing & management, Wi-Fi integration, as well as leakage detection alternatives.

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U.S. residential water heater market – prospects of expansion through 2027

The U.S. residential water heater industry share is estimated to expand at a rate of more than 1.5% from 2021 to 2027 propelled by the surging demand for electric tankless water systems and the increasing installation of space heating systems.

The regional growth is further driven by strict regulations toward environment sustainability and shifting focus towards the deployment of energy-efficient equipment. Increasing concerns about the emissions of CO₂ and the rising demand for clean energy fuels will propel the demand for different types of water heaters through the assessment span.

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Moreover, increasing urban migration and escalated consumer demand for expenditure on smart and efficient appliances, and strict norms for constraining carbon emissions will boost product penetration. High-efficiency, low cost, and hassle-free installation are some of the primary factors bolstering business scenarios in the ensuing years.

In a nutshell, the soaring demand for residential water heaters due to their wide deployment across domestic applications that comprise cooking, cleaning, and personal hygiene will boost North America residential water heater market size through the projected period.

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