V Guard leads the India Water Heater Market
Rising
disposable income, growing construction sector along with introduction of
technologically advanced water heaters to drive India water heater market
through 2023
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"
https://www.techsciresearch.com/report/india-water-heater-market/3040.html
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.
About TechSci Research
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leading global market research firm publishing premium market research reports.
Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals.
TechSci Research specializes in research based consulting assignments in high
growth and emerging markets, leading technologies and niche applications. Our
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research solutions and tracking global and country specific high growth markets
helps TechSci clients to lead rather than follow market trends.
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