Global Grid-Interactive Water Heater Market Growth 2023-2029

Global Grid-Interactive Water Heater Market Growth 2023-2029

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.

LPI (LP Information)' newest research report, the “Grid-Interactive Water Heater Industry Forecast” looks at past sales and reviews total world Grid-Interactive Water Heater sales in 2022, providing a comprehensive analysis by region and market sector of projected Grid-Interactive Water Heater sales for 2023 through 2029. With Grid-Interactive Water Heater sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Grid-Interactive Water Heater industry.

This Insight Report provides a comprehensive analysis of the global Grid-Interactive Water Heater landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Grid-Interactive Water Heater portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Grid-Interactive Water Heater market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Grid-Interactive Water Heater and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Grid-Interactive Water Heater.

The global Grid-Interactive Water Heater market size is projected to grow from US$ 256.2 million in 2022 to US$ 349.6 million in 2029; it is expected to grow at a CAGR of 349.6 from 2023 to 2029.

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.

This report presents a comprehensive overview, market shares, and growth opportunities of Grid-Interactive Water Heater market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
80 Gallon Capacities
100 Gallon Capacities
119 Gallon Capacities
Others

Segmentation by application
Residential
Non-Residential

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Steffes
Vaughn Thermal
Great River Energy
HTP (Everlast)

Key Questions Addressed in this Report

What is the 10-year outlook for the global Grid-Interactive Water Heater market?

What factors are driving Grid-Interactive Water Heater market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Grid-Interactive Water Heater market opportunities vary by end market size?

How does Grid-Interactive Water Heater break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.