DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/h8ph5q/india_water) has announced the addition of the "India Water Heater Market Overview" report to their offering.
According to India Water Heater Market Overview, the market for water heaters in India grew with a CAGR of 26.16% from 2010 to 2014. Electric water heaters dominate the Indian water heater market. The solar water heater, which is at a developing stage, is expected to acquire a major market share till 2021. Water heaters are mainly an equipment of the residential segment. But with new innovations in technology, water heaters are being accepted in the commercial as well as industrial sectors.
The organized players are having the major share of the market. Though the unorganized sector is expected to increase with a greater CAGR than that of organized ones, the organized sector is expected to maintain its lead. New entrants are also increasing and their revenue share is expected to grow over the forecasted period, owing to their expansion plans and widening of dealership networks.
The Water heater market in India was estimated to have a market of more than INR 1500 crore in 2014. Better government subsidies for solar heating, along with better infrastructure and pipe water facilities in rural India, would drive the penetration of water heaters greatly. Electricity shortages and frequent outages are major constraints in the use of solar heaters, causing higher penetration of electric water heaters, especially in Tier 2 and 3 towns. Some of the major players in the water heater market are Racold, Bajaj, V-Guard, Venus and A.O. Smith. The strong foothold of the organized sector in the market, the increasing use of hot water for all the residential purposes and the commercial sectors usage of water heaters are some of the factors which are expected to make the water heater market grow till 2021.
Key Topics Covered:
1. Executive Summary
2. Global Water Heater Market Outlook
3. India Water Heater Market Outlook
4. Company Profiles
- Bajaj Electricals Limited
- Havells India
- Racold Thermo
For more information visit http://www.researchandmarkets.com/research/h8ph5q/india_water.