Lewes, DE -- (SBWIRE) -- 10/14/2016 -- Report forecast the water heater market in North America to grow at a CAGR of 3.13% during the period 2016-2020.

The demand for heating appliances is considerably high in most North American countries owing to the cold weather conditions prevailing in the region. Also, in recent years, it has been noted that the winter season in the region is getting affected by El Niño, which brings in unpredictable weather, flooding, and harsh wet winter. This unpredictable changing weather pattern is a common phenomenon throughout the year and is triggering the demand for heating appliances year-round. A water heater is one such heating appliance that has become a basic necessity in more than 97% households in the US.

The report covers the present scenario and the growth prospects of the water heater market in North America for 2016-2020. To calculate the market size, the report has taken into consideration the revenue generated from the retail sales of different types of water heaters to the residential segment. The report does not include commercial water heaters used for residential purpose.

According to the report, a key growth driver is emergency replacement and upgrade replacement purchases by consumers. The water heater market in the US, especially for the storage type water heaters, is highly saturated. However, the market is largely driven by emergency and upgrade replacement purchases as these products are considered as a necessity in almost all US households and consumers are more willing to fix a broken water heater or switch to energy-efficient water heaters. Purchase decision is also influenced by the type of fuel source used for water heating in households.

Further, the report states that one challenge that could hamper market growth is stringent government regulations introduced by the DOE. This would create challenges for installers as well as wholesalers to adjust with the size change. Also, adhering to the new size requirement will create storage and transport concerns for manufacturers as the implied cost will increase. Manufacturers would have to invest further to train and create awareness among their employees and wholesalers.

Water Heater Market in North America 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the water heater market in North America: A. O. Smith, Bradford White, Rheem, AERCO International, American Water Heaters, Bromic, Bosch, Eccotemp Systems, ECR International, Electrolux, GE, Kenmore, Marey, Midea Group, Noritz, TekSupply, Waiwela, Whirlpool.

Market driver
- Emergency replacement and upgrade replacement purchases
- For a full, detailed list, view our report

Market challenge
- Stringent government regulations
- For a full, detailed list, view our report

Market trend
- Retrofitted technology for water heaters
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 66 pages "Water Heater Market in North America 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Segmentation by fuel type, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/water-heater-market-north-america-2016-2020

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