Grid-Interactive Water Heater Market

Electric water heaters having two-way control capabilities with the grid are known as grid interactive water heaters (GIWHs). Energy storage in a GIWH proves to be economical, as its function is similar to a battery energy storage system, but at a much lesser cost. Typically, water usage in the residential sector, which holds the maximum share in the global GIWH market, is higher during mornings and evenings. As GIWH allows water to be heated as and when surplus power is available from the grid, it provides flexibility to the electric supply system and ensures cost savings. In addition, these heaters are a cost-efficient option even at the consumer end, as they pay for the surplus load rate, which is generally cheaper than the normal price. The global GIWH market is segmented based on end-user and geography. The key end-users identified in the report are residential and non-residential segments. The following exhibit represents the current market scenario and future projections of GIWH in each end-user segment.
Grid-Interactive Water Heater Market aims to provide a comprehensive presentation of the global market for Grid-Interactive Water Heater, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Grid-Interactive Water Heater. Grid-Interactive Water Heater Market contains market size and forecasts of Grid-Interactive Water Heater in global, including the following market information:
Global Grid-Interactive Water Heater Market Revenue, 2018-2023, 2024-2032, ($ millions)
Global Grid-Interactive Water Heater Market Sales, 2018-2023, 2024-2032, (K Units)
Global top five Grid-Interactive Water Heater companies in 2022 (%)
The global Grid-Interactive Water Heater market was valued at US$ 269.5 million in 2022 and is projected to reach US$ 359.2 million by 2029, at a CAGR of 4.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Owing to the rising population and the economic growth, the demand for energy will highly increase. Emerging economies such as China, need high energy due to their rapid industrilization. Technavio?s market research report has identified growth in energy consumption as one of the primary factors that will fuel the growth of the grid-interactive water heater market in the coming years. With the high energy requirement more renewable energy sources are coming online is bound to significant impact on the consistency of the electricity. Increased consumption of electricity will lead more renewable power to come online which will increase the load of the grid and GIWH provides demand-side flexibility which stabilizes the grid. Owing to the increased consumption of energy, the grid-interactive water heater (GIWH) will witness growth.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Grid-Interactive Water Heater manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Grid-Interactive Water Heater Market, by Type, 2018-2023, 2024-2032 ($ Millions) & (K Units)
Global Grid-Interactive Water Heater Market Segment Percentages, by Type, 2022 (%)
80 Gallon Capacities
100 Gallon Capacities
119 Gallon Capacities
Others
Global Grid-Interactive Water Heater Market, by Application, 2018-2023, 2024-2032 ($ Millions) & (K Units)
Global Grid-Interactive Water Heater Market Segment Percentages, by Application, 2022 (%)
Residential
Non-Residential
Global Grid-Interactive Water Heater Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions) & (K Units)
Global Grid-Interactive Water Heater Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Grid-Interactive Water Heater revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Grid-Interactive Water Heater revenues share in global market, 2022 (%)
Key companies Grid-Interactive Water Heater sales in global market, 2018-2023 (Estimated), (K Units)
Key companies Grid-Interactive Water Heater sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Steffes
Vaughn Thermal
Great River Energy
HTP (Everlast)
Outline of Major Chapters:
Chapter 1: Introduces the definition of Grid-Interactive Water Heater, market overview.
Chapter 2: Global Grid-Interactive Water Heater market size in revenue and volume.
Chapter 3: Detailed analysis of Grid-Interactive Water Heater manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Grid-Interactive Water Heater in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Grid-Interactive Water Heater capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.