Water Heater Market: Heating up the Business

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Have a Warm Bath

Water Heater Often you return home fully exhausted, tired, completely drained out, either from work, school or play. Covered with dust, dirt and sweat, you are low on energy and want to unwind as well as freshen yourself desperately. At such time a hot water bath totally refreshes you. And the device which provides you hot water instantly is the water heater. A warm bath not only washes away the grime on you, but also recharges you fully. You feel fresh, energetic and clean again.  It is an appliance which gives you warm water by the means of thermodynamic procedure that uses an energy source to heat water above its initial temperature.

There are several types of geysers available in the water heater market, tankless, conventional gas and electric. Tankless or instant water heaters heat up the water right where you require it, when you need it, without a storage tank. They use electricity, gas, or propane as a heating generator. The conventional ones, the water is stored and then gradually heated up. They have the advantage of using energy source of gas or electricity at a relatively slow rate, storing the heat for later use. They come in various shapes and sizes, ranging from small sized instant heaters which can fit in a corner of a bathroom to large storage which can accumulate upto 15 to 20 liters of water. They either come in plastic or metallic body. Some of them even come with temperature control so you can set its warmth suitable to you. These appliances are mainly in high demand during the winter season. Bajaj, Havells, Kenstar, AO smith, Haier are some the chief companies in the Indian water heater market. Now- a- days they come with star ratings based on power consumption.

The water heater industry is currently in the stages of significant growth after recently being freed from of the tag of small scale industries and government restrictions. There has been entry of many large players, both national and multinational level in this sector. The market size in India for electric water heaters is over 1.8 million units of electricity with a value of Rs. 700 Crore, which is expected to grow at around 7% p.a.

This industry has witnessed a good amount of growth with consumers becoming more discerning towards brands while purchasing water heaters. It’s no marvel that this segment has seen a 40% CAGR in media spends with all brands fighting to grab the consumer’s eyeballs. Fortunately, consumer behavior and habits are changing, with higher focus on having a trendy bathroom.