Grid-Interactive Water Heater Market

Grid-Interactive Water Heater Market by Product (80 Gallon Capacities, 100 Gallon Capacities, 119 Gallon Capacities, Others,) by Application (Residential, Industrial Manufacturing, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Grid-Interactive Water Heater in terms of revenue?

    The global Grid-Interactive Water Heater valued at 530.21 Million in 2020 and is expected to reach 792.96 Million in 2028 growing at a CAGR of 5.14%

  • Which are the prominent players in the market?

    The prominent players in the market are Rheem, Vaughn Thermal, Steffes, Dakota Electric Association, EnergyHub, HTP (Everlast), Great River Energy.

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 5.14% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Grid-Interactive Water Heater include

    • The increasing economic benefits with the use of grid-interactive water heater is anticipated to augment the growth of the market in the years to come. According to Rocky Mountain Institute researchers, a non-profit organization in the United States, electric utilities will probably invest approximately $1 trillion in the traditional grid infrastructure over the next 15 years. The use of demand-side flexibility and the ability for demand resources to change throughout the day due to market conditions in the residential sector alone is estimated to be able to save 10-15% of those grid costs. This could cut the customer’s electric bill by 10- 40%, and can be accomplished with rate structures and technologies that exist today.
    • Furthermore, the rise in energy consumption is also expected to support the growth of the global grid-interactive water heater market in the years to come. Additionally, the increasing demand from residential sector due to fast-paced industrialization in developing economies is also likely to contribute to the growth of the market.

  • Which region accounted for the largest share in the market?

    Asia Pacific was the leading regional segment of the Grid-Interactive Water Heater in 2020.

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