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.
Scope of the Report:
This report focuses on the Grid-Interactive Water Heater in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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.
The Americas will be the major revenue contributor to the GIWH market throughout the forecast period. The market is primarily driven by the investments in the residential commercial sector. The demand from the Latin countries and the US is very high due to which the grid enabled water heater market is witnessing strong growth in the region.
The worldwide market for Grid-Interactive Water Heater is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2023, from xx million US$ in 2017.
Market Segment by Manufacturers, this report covers
- Steffes
- Vaughn Thermal
- Great River Energy
- HTP (Everlast)
Market Segment by Regions, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- 80 Gallon Capacities
- 100 Gallon Capacities
- 119 Gallon Capacities
- Others
Market Segment by Applications, can be divided into
- Residential
- Non-Residential
There are 15 Chapters to deeply display the global Grid-Interactive Water Heater market.
Chapter 1, to describe Grid-Interactive Water Heater Introduction, product scope, market overview, market opportunities, market risk, market driving force;
Chapter 2, to analyze the top manufacturers of Grid-Interactive Water Heater, with sales, revenue, and price of Grid-Interactive Water Heater, in 2016 and 2017;
Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue and market share in 2016 and 2017;
Chapter 4, to show the global market by regions, with sales, revenue and market share of Grid-Interactive Water Heater, for each region, from 2013 to 2018;
Chapter 5, 6, 7, 8 and 9, to analyze the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in these regions;
Chapter 10 and 11, to show the market by type and application, with sales market share and growth rate by type, application, from 2013 to 2018;
Chapter 12, Grid-Interactive Water Heater market forecast, by regions, type and application, with sales and revenue, from 2018 to 2023;
Chapter 13, 14 and 15, to describe Grid-Interactive Water Heater sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source