North American water heater market is anticipated to grow at a CAGR 4.7% during the forecast period. North American water heater market has been continuously growing attributed to high demand for heating appliances owing to the cold weather condition. Additionally, El Niño/Southern oscillation has a major impact on climate patterns in various parts of the region. El Niño results in unpredictable weather, flooding, and harsh wet winter which triggers the demand for heating appliance. Every year, more than 9 million water heaters are sold in the US which implies that there is a high demand for water heater in North America. Further, as per Natural Resources Canada (NRCan), an average of 75 liters of hot water is used at home in Canada every day for washing dishes and clothing, cleaning, and showering or bathing.
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The market study of the North American Water Heater market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
North American Water Heater Market by Energy Source
- Gas
- Electricity Water Heaters
- Hybrid Water Heaters
- Solar Water Heaters
North American Water Heater Market by Mode of Water Supply
- On-Demand Or Tankless Water Heaters
- Storage Or Tank Water Heaters
North American Water Heater Market by End-User
- Residential
- Commercial
- Industrial
Regional Analysis
- North American
- United States
- Canada
Company Profiles
- O. Smith Corp.
- Bradford White Corp.
- EcoSmart
- General Electric
- Goodman
- HTP Comfort Solutions LLC.
- NORITZ Corp.
- Rheem Manufacturing Company, Inc.
- Stiebel Eltron, Inc.
- Whirlpool
The Report Covers
- Comprehensive research methodology of the North American Water Heater market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North American Water Heater market.
- Insights about market determinants which are stimulating the North American Water Heater market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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