Water Heater Market in Middle East to value USD 3 Bn by 2030, says Global Market Insights Inc.
Favorable economic transformation in line with significant improvements in the living standards and growing disposable incomes have led to the espousal of effective water heating systems. Positive outlook toward the development of sustainable solutions coupled with the substantial introduction of energy efficiency standards will further drive the business dynamics. Moreover, introduction of advanced and smart heating technologies on account of continuous product innovations will enhance the product demand.
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Instant water heater market share is projected to grow at over 7% CAGR from 2022 to 2030. Rising demand for hot water supply across various end users including single and multi-family apartments combined with small commercial buildings will augment the industry landscape. Safe operation, higher energy conservation, compact design, low operational costs, and increased product life are some of the key attributes which will accelerate the product penetration. However, the rising implementation of on demand water heating units owing to improved utilization in the domestic/ residential applications will strengthen the business statistics.
100 - 250 Liters market segment is projected to surge nearly USD 700 Million in 2030. Ongoing investments in both private & public sectors toward the refurbishment of the existing commercial establishments merged with Increasing perception of the high-capacity energy units in and around hotels, offices and other institutions will propel the industry trend. In addition, extensive research & development activities pertaining to the product advancement to reduce the electricity bills and conserve energy will sway the market growth.
Commercial water heater industry will witness an upsurge credited to the increasing government focus on the installation of effective & efficient energy systems. Low upfront costs, less initial cost and the rising consumer shift toward the acceptance of sustainable solutions will influence the market dynamics. Additionally, continuous establishment of strict norms and policies for the efficient water heaters systems led by the high energy conservation will stimulate the demand for this equipment.
The water heater market in Saudi Arabia is set to foresee rise because of the strategic measures and agreements among the leading market players and stringent government measures for environment protection. For instance, in November 2021, Rheem Manufacturing expanded its presence throughout the Middle East with the launch of its new business segments, thereby improving its product spectrum. Furthermore, growing construction activities has developed the necessity for water heating facilities and thriving hospitality sector in the country will support the demand.
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Some of the key findings of the Middle East water heater market report include:
Partial Table of Contents (ToC) of the report
Chapter 2 Executive Summary
2.1 Middle East water heater industry 3600 synopsis, 2018 - 2030
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Capacity trends
2.1.4 Application trends
2.1.5 Fuel trends
2.1.6 Country Trends
Chapter 3 Middle East Water Heater Industry Insights
3.1 Industry ecosystem analysis
3.2 Innovation & technology landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Impact of Russia Ukraine war on the industry dynamics
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Growing demand for energy efficient products
3.6.1.2 Technology advancement and rising emission standards
3.6.1.3 Rapid urbanization and rising demand for product customization
3.6.2 Industry pitfalls & challenges
3.6.2.1 High installation cost
3.7 Growth potential analysis
3.8 Price trend analysis, by capacity
3.9 Porter's Analysis
3.10 Competitive landscape, 2021
3.11 PESTEL Analysis
Browse Complete Table of Contents (ToC) at https://www.gminsights.com/toc/detail/middle-east-water-heater-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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