Electric Water Heaters Market Size – Global Forecast Report To 2022
The global electric water heaters market size is expected to value at USD 29.32 billion by 2022. The market is subject to witness a substantial growth due to the growing number of residential housing projects across the globe. Factors responsible for the robust growth of electric water heaters industry, in the recent years, include increasing popularity of tank less water heaters and rising per capita income in both developed and developing economies worldwide. The electric water heaters offer advantages such as better energy efficiency, environment-friendly capabilities and advanced temperature control for long duration of time. These factors are predicted to fuel the market demand for electric water heaters in the upcoming period. Globally, electric water heaters market is predicted to grow at CAGR of 6.9% in forecast period, providing numerous opportunities for market players to invest in research and development of these products. The electric water heater is ca...