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India Electric Water Heater Market Report by Product Type (Tank, Tankless), Capacity (Less Than 100 Liters, 100 to 400 Liters, More Than 400 Liters), Distribution Channel (Online, Offline), End User (Residential, Commercial, Industrial), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6220
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Market Overview:
The India electric water heater market size reached US$ 286.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 548.4 Million by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 286.1 Million |
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Market Forecast in 2032
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US$ 548.4 Million |
| Market Growth Rate 2024-2032 | 7.5% |
An electric water heater is a tank that heats water using vertically positioned and high-voltage electric heating rods. It relies on a dip tube through which cold water is supplied to the bottom of the heater tank and then heated by electrical resistors. It is made using stainless steel and has a glass-based coating, glass-based liner, or enamel that protects the interior surface and provides long shelf life. It is easy to install and highly cost-effective compared to gas-powered water heaters. As a result, there is a rise in the usage of electric water heaters in kitchen sinks, bathroom showers, and other residential and commercial places across India.
India Electric Water Heater Market Trends:
Due to a stoppage in the centrally supplied hot water, there is a rise in the adoption of personal electric water heaters in different states of India. This, along with the growing usage of hot water in the residential sector for hygiene purposes, represents one of the key factors driving the market. Moreover, changing architectural designs of residential buildings, coupled with rapid urbanization in the country, is strengthening the market growth. In addition, there is a rise in the demand for premium homeware products among the masses. In line with this, the burgeoning solar water heating industry in India is contributing to the growth of the market. Besides this, the rapid transition from conventional water heating equipment, such as boilers and burners, to electric water heaters is positively influencing the market. Apart from this, the rising awareness among the masses about the benefits of electric water heaters is offering lucrative growth opportunities to industry investors operating in the country. Additionally, the wide availability of electric water heaters through online and offline distribution channels is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India electric water heater market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on product type, capacity, distribution channel and end user.
Breakup by Product Type:
- Tank
- Tankless
Breakup by Capacity:
- Less Than 100 Liters
- 100 to 400 Liters
- More Than 400 Liters
Breakup by Distribution Channel:
- Online
- Offline
Breakup by End User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Product Type, Capacity, Distribution Channel, End User, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The India electric water heater market was valued at US$ 286.1 Million in 2023.
We expect the India electric water heater market to exhibit a CAGR of 7.5% during 2024-2032.
The rising demand for premium quality, energy-efficient, and time-saving homeware products, such as electric water heaters, to reduce carbon footprint is primarily driving the India electric water heater market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in numerous installation activities for electric water heaters.
Based on the product type, the India electric water heater market has been segmented into tank and tankless, where tank currently holds the majority of the total market share.
Based on the end user, the India electric water heater market can be divided into residential, commercial, and industrial. Currently, residential exhibits a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India.
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