Global Grid-Interactive Water Heater Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Grid-Interactive Water Heater Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Grid-Interactive Water Heater market size was valued at USD 269.5 million in 2023 and is forecast to a readjusted size of USD 359.2 million by 2030 with a CAGR of 4.2% during review period.

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.

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 Global Info Research report includes an overview of the development of the Grid-Interactive Water Heater industry chain, the market status of Residential (80 Gallon Capacities, 100 Gallon Capacities), Non-Residential (80 Gallon Capacities, 100 Gallon Capacities), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Grid-Interactive Water Heater.

Regionally, the report analyzes the Grid-Interactive Water Heater markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Grid-Interactive Water Heater market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Grid-Interactive Water Heater market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Grid-Interactive Water Heater industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K Units), revenue generated, and market share of different by Type (e.g., 80 Gallon Capacities, 100 Gallon Capacities).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Grid-Interactive Water Heater market.

Regional Analysis: The report involves examining the Grid-Interactive Water Heater market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Grid-Interactive Water Heater market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Grid-Interactive Water Heater:

Company Analysis: Report covers individual Grid-Interactive Water Heater manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Grid-Interactive Water Heater This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Residential, Non-Residential).

Technology Analysis: Report covers specific technologies relevant to Grid-Interactive Water Heater. It assesses the current state, advancements, and potential future developments in Grid-Interactive Water Heater areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Grid-Interactive Water Heater market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Grid-Interactive Water Heater market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
80 Gallon Capacities
100 Gallon Capacities
119 Gallon Capacities
Others

Market segment by Application
Residential
Non-Residential

Major players covered
Steffes
Vaughn Thermal
Great River Energy
HTP (Everlast)

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Grid-Interactive Water Heater product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Grid-Interactive Water Heater, with price, sales, revenue and global market share of Grid-Interactive Water Heater from 2019 to 2024.

Chapter 3, the Grid-Interactive Water Heater competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Grid-Interactive Water Heater breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Grid-Interactive Water Heater market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Grid-Interactive Water Heater.

Chapter 14 and 15, to describe Grid-Interactive Water Heater sales channel, distributors, customers, research findings and conclusion.