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Grid-Interactive Water Heater-Global Market Insights and Sales Trends 2024
Synopsis
Electric water heaters having two-way control capabilities with the grid are known as grid interactive water heaters (GIWHs). Energy storage in a GIWH proves to be economical, as its function is similar to a battery energy storage system, but at a much lesser cost. Typically, water usage in the residential sector, which holds the maximum share in the global GIWH market, is higher during mornings and evenings. As GIWH allows water to be heated as and when surplus power is available from the grid, it provides flexibility to the electric supply system and ensures cost savings. In addition, these heaters are a cost-efficient option even at the consumer end, as they pay for the surplus load rate, which is generally cheaper than the normal price. The global GIWH market is segmented based on end-user and geography. The key end-users identified in the report are residential and non-residential segments. The following exhibit represents the current market scenario and future projections of GIWH in each end-user segment.
The global Grid-Interactive Water Heater market size is expected to reach US$ 355.4 million by 2029, growing at a CAGR of 4.4% from 2023 to 2029. The market is mainly driven by the significant applications of Grid-Interactive Water Heater in various end use industries. The expanding demands from the Residential and Non-Residential, are propelling Grid-Interactive Water Heater market. 80 Gallon Capacities, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the 100 Gallon Capacities segment is estimated at % CAGR for the next seven-year period.
Owing to the rising population and the economic growth, the demand for energy will highly increase. Emerging economies such as China, need high energy due to their rapid industrilization. Technavio’s market research report has identified growth in energy consumption as one of the primary factors that will fuel the growth of the grid-interactive water heater market in the coming years. With the high energy requirement more renewable energy sources are coming online is bound to significant impact on the consistency of the electricity. Increased consumption of electricity will lead more renewable power to come online which will increase the load of the grid and GIWH provides demand-side flexibility which stabilizes the grid. Owing to the increased consumption of energy, the grid-interactive water heater (GIWH) will witness growth.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Grid-Interactive Water Heater, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Grid-Interactive Water Heater market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Grid-Interactive Water Heater market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Grid-Interactive Water Heater sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Grid-Interactive Water Heater covered in this report include Steffes, Vaughn Thermal, Great River Energy and HTP (Everlast), etc.
The global Grid-Interactive Water Heater market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Steffes
Vaughn Thermal
Great River Energy
HTP (Everlast)
Global Grid-Interactive Water Heater market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Grid-Interactive Water Heater market, Segment by Type:
80 Gallon Capacities
100 Gallon Capacities
119 Gallon Capacities
Others
Global Grid-Interactive Water Heater market, by Application
Residential
Non-Residential
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Grid-Interactive Water Heater manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Grid-Interactive Water Heater in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Electric water heaters having two-way control capabilities with the grid are known as grid interactive water heaters (GIWHs). Energy storage in a GIWH proves to be economical, as its function is similar to a battery energy storage system, but at a much lesser cost. Typically, water usage in the residential sector, which holds the maximum share in the global GIWH market, is higher during mornings and evenings. As GIWH allows water to be heated as and when surplus power is available from the grid, it provides flexibility to the electric supply system and ensures cost savings. In addition, these heaters are a cost-efficient option even at the consumer end, as they pay for the surplus load rate, which is generally cheaper than the normal price. The global GIWH market is segmented based on end-user and geography. The key end-users identified in the report are residential and non-residential segments. The following exhibit represents the current market scenario and future projections of GIWH in each end-user segment.
The global Grid-Interactive Water Heater market size is expected to reach US$ 355.4 million by 2029, growing at a CAGR of 4.4% from 2023 to 2029. The market is mainly driven by the significant applications of Grid-Interactive Water Heater in various end use industries. The expanding demands from the Residential and Non-Residential, are propelling Grid-Interactive Water Heater market. 80 Gallon Capacities, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the 100 Gallon Capacities segment is estimated at % CAGR for the next seven-year period.
Owing to the rising population and the economic growth, the demand for energy will highly increase. Emerging economies such as China, need high energy due to their rapid industrilization. Technavio’s market research report has identified growth in energy consumption as one of the primary factors that will fuel the growth of the grid-interactive water heater market in the coming years. With the high energy requirement more renewable energy sources are coming online is bound to significant impact on the consistency of the electricity. Increased consumption of electricity will lead more renewable power to come online which will increase the load of the grid and GIWH provides demand-side flexibility which stabilizes the grid. Owing to the increased consumption of energy, the grid-interactive water heater (GIWH) will witness growth.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Grid-Interactive Water Heater, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Grid-Interactive Water Heater market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Grid-Interactive Water Heater market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Grid-Interactive Water Heater sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Grid-Interactive Water Heater covered in this report include Steffes, Vaughn Thermal, Great River Energy and HTP (Everlast), etc.
The global Grid-Interactive Water Heater market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Steffes
Vaughn Thermal
Great River Energy
HTP (Everlast)
Global Grid-Interactive Water Heater market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Grid-Interactive Water Heater market, Segment by Type:
80 Gallon Capacities
100 Gallon Capacities
119 Gallon Capacities
Others
Global Grid-Interactive Water Heater market, by Application
Residential
Non-Residential
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Grid-Interactive Water Heater manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Grid-Interactive Water Heater in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Grid-Interactive Water Heater Market Overview
1.1 Grid-Interactive Water Heater Product Overview
1.2 Grid-Interactive Water Heater Market Segment by Type
1.2.1 80 Gallon Capacities
1.2.2 100 Gallon Capacities
1.2.3 119 Gallon Capacities
1.2.4 Others
1.3 Global Grid-Interactive Water Heater Market Size by Type
1.3.1 Global Grid-Interactive Water Heater Market Size Overview by Type (2018-2029)
1.3.2 Global Grid-Interactive Water Heater Historic Market Size Review by Type (2018-2023)
1.3.3 Global Grid-Interactive Water Heater Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Grid-Interactive Water Heater Sales Breakdown by Type (2018-2023)
1.4.2 Europe Grid-Interactive Water Heater Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Grid-Interactive Water Heater Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Grid-Interactive Water Heater Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Grid-Interactive Water Heater Sales Breakdown by Type (2018-2023)
2 Global Grid-Interactive Water Heater Market Competition by Company
2.1 Global Top Players by Grid-Interactive Water Heater Sales (2018-2023)
2.2 Global Top Players by Grid-Interactive Water Heater Revenue (2018-2023)
2.3 Global Top Players by Grid-Interactive Water Heater Price (2018-2023)
2.4 Global Top Manufacturers Grid-Interactive Water Heater Manufacturing Base Distribution, Sales Area, Product Type
2.5 Grid-Interactive Water Heater Market Competitive Situation and Trends
2.5.1 Grid-Interactive Water Heater Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Grid-Interactive Water Heater Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Grid-Interactive Water Heater as of 2022)
2.7 Date of Key Manufacturers Enter into Grid-Interactive Water Heater Market
2.8 Key Manufacturers Grid-Interactive Water Heater Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Grid-Interactive Water Heater Status and Outlook by Region
3.1 Global Grid-Interactive Water Heater Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Grid-Interactive Water Heater Historic Market Size by Region
3.2.1 Global Grid-Interactive Water Heater Sales in Volume by Region (2018-2023)
3.2.2 Global Grid-Interactive Water Heater Sales in Value by Region (2018-2023)
3.2.3 Global Grid-Interactive Water Heater Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Grid-Interactive Water Heater Forecasted Market Size by Region
3.3.1 Global Grid-Interactive Water Heater Sales in Volume by Region (2024-2029)
3.3.2 Global Grid-Interactive Water Heater Sales in Value by Region (2024-2029)
3.3.3 Global Grid-Interactive Water Heater Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Grid-Interactive Water Heater by Application
4.1 Grid-Interactive Water Heater Market Segment by Application
4.1.1 Residential
4.1.2 Non-Residential
4.2 Global Grid-Interactive Water Heater Market Size by Application
4.2.1 Global Grid-Interactive Water Heater Market Size Overview by Application (2018-2029)
4.2.2 Global Grid-Interactive Water Heater Historic Market Size Review by Application (2018-2023)
4.2.3 Global Grid-Interactive Water Heater Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Grid-Interactive Water Heater Sales Breakdown by Application (2018-2023)
4.3.2 Europe Grid-Interactive Water Heater Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Grid-Interactive Water Heater Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Grid-Interactive Water Heater Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Grid-Interactive Water Heater Sales Breakdown by Application (2018-2023)
5 North America Grid-Interactive Water Heater by Country
5.1 North America Grid-Interactive Water Heater Historic Market Size by Country
5.1.1 North America Grid-Interactive Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Grid-Interactive Water Heater Sales in Volume by Country (2018-2023)
5.1.3 North America Grid-Interactive Water Heater Sales in Value by Country (2018-2023)
5.2 North America Grid-Interactive Water Heater Forecasted Market Size by Country
5.2.1 North America Grid-Interactive Water Heater Sales in Volume by Country (2024-2029)
5.2.2 North America Grid-Interactive Water Heater Sales in Value by Country (2024-2029)
6 Europe Grid-Interactive Water Heater by Country
6.1 Europe Grid-Interactive Water Heater Historic Market Size by Country
6.1.1 Europe Grid-Interactive Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Grid-Interactive Water Heater Sales in Volume by Country (2018-2023)
6.1.3 Europe Grid-Interactive Water Heater Sales in Value by Country (2018-2023)
6.2 Europe Grid-Interactive Water Heater Forecasted Market Size by Country
6.2.1 Europe Grid-Interactive Water Heater Sales in Volume by Country (2024-2029)
6.2.2 Europe Grid-Interactive Water Heater Sales in Value by Country (2024-2029)
7 Asia-Pacific Grid-Interactive Water Heater by Region
7.1 Asia-Pacific Grid-Interactive Water Heater Historic Market Size by Region
7.1.1 Asia-Pacific Grid-Interactive Water Heater Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Grid-Interactive Water Heater Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Grid-Interactive Water Heater Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Grid-Interactive Water Heater Forecasted Market Size by Region
7.2.1 Asia-Pacific Grid-Interactive Water Heater Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Grid-Interactive Water Heater Sales in Value by Region (2024-2029)
8 Latin America Grid-Interactive Water Heater by Country
8.1 Latin America Grid-Interactive Water Heater Historic Market Size by Country
8.1.1 Latin America Grid-Interactive Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Grid-Interactive Water Heater Sales in Volume by Country (2018-2023)
8.1.3 Latin America Grid-Interactive Water Heater Sales in Value by Country (2018-2023)
8.2 Latin America Grid-Interactive Water Heater Forecasted Market Size by Country
8.2.1 Latin America Grid-Interactive Water Heater Sales in Volume by Country (2024-2029)
8.2.2 Latin America Grid-Interactive Water Heater Sales in Value by Country (2024-2029)
9 Middle East and Africa Grid-Interactive Water Heater by Country
9.1 Middle East and Africa Grid-Interactive Water Heater Historic Market Size by Country
9.1.1 Middle East and Africa Grid-Interactive Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Grid-Interactive Water Heater Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Grid-Interactive Water Heater Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Grid-Interactive Water Heater Forecasted Market Size by Country
9.2.1 Middle East and Africa Grid-Interactive Water Heater Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Grid-Interactive Water Heater Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Steffes
10.1.1 Steffes Company Information
10.1.2 Steffes Introduction and Business Overview
10.1.3 Steffes Grid-Interactive Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Steffes Grid-Interactive Water Heater Products Offered
10.1.5 Steffes Recent Development
10.2 Vaughn Thermal
10.2.1 Vaughn Thermal Company Information
10.2.2 Vaughn Thermal Introduction and Business Overview
10.2.3 Vaughn Thermal Grid-Interactive Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Vaughn Thermal Grid-Interactive Water Heater Products Offered
10.2.5 Vaughn Thermal Recent Development
10.3 Great River Energy
10.3.1 Great River Energy Company Information
10.3.2 Great River Energy Introduction and Business Overview
10.3.3 Great River Energy Grid-Interactive Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Great River Energy Grid-Interactive Water Heater Products Offered
10.3.5 Great River Energy Recent Development
10.4 HTP (Everlast)
10.4.1 HTP (Everlast) Company Information
10.4.2 HTP (Everlast) Introduction and Business Overview
10.4.3 HTP (Everlast) Grid-Interactive Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.4.4 HTP (Everlast) Grid-Interactive Water Heater Products Offered
10.4.5 HTP (Everlast) Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Grid-Interactive Water Heater Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Grid-Interactive Water Heater Industrial Chain Analysis
11.4 Grid-Interactive Water Heater Market Dynamics
11.4.1 Grid-Interactive Water Heater Industry Trends
11.4.2 Grid-Interactive Water Heater Market Drivers
11.4.3 Grid-Interactive Water Heater Market Challenges
11.4.4 Grid-Interactive Water Heater Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Grid-Interactive Water Heater Distributors
12.3 Grid-Interactive Water Heater Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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