Indian water heater market is anticipated to grow at a CAGR 10.4% during the forecast period. India is regarded as one of the fastest growing economies across the globe; therefore, it contributes a significant contribution to the water heater market. The increasing urban population coupled with the growing adoption of the solar water systems contributing to the growth of the market in the region.

According to the World Bank data, India accounted for 33.1% urban population in 2016 that increased to 33.6% in 2017. With the trend of growing urbanization and increasing disposable income raises the demand for advanced and smart features in the residential and commercial segment in terms of water heating that propel the market growth in the market. Moreover, increasing installation of solar water heating system is propelling the growth of the market in the region. The IEA (International Energy Agency) Technology Collaboration Programme on Solar Heating and Cooling increases the number of systems installations in India by 26% in 2017. 

According to the IEA, solar thermal capacity that is mostly used for water heating projected a significant growth in India. The total solar thermal capacity in India accounted for 2.8 GWth in 2010 and it is increased to 7.7 GWth in 2017. India has the sixth largest installed capacity for solar thermal across the globe. Further, this capacity offers significant opportunities for the installation of solar water heating systems in the region that propel the growth of the Indian water heater market during the forecast period. The major players of Indian water heater include Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Venus home appliance, Haier electronics group Co., Ltd. and Rinnai Corp.

Research Methodology

The market study of the Indian Water Heater market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the electronic industry, ICT (Information and Communication Technology) and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Water Heater Market Research and Analysis by Energy Source

2. Indian Water Heater Market Research and Analysis by Mode of Water Supply 

3. Indian Water Heater Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the Indian Water Heater market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian Water Heater market.
• Insights about market determinants which are stimulating the Indian Water Heater market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.