Water Heater Market in America to Witness Growth Owing to Upgrades to Energy-efficient Models

Technavio analysts forecast the water heater market in North America to grow at a CAGR of more than 3% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the water heater market in North America for 2016-2020. North America is the key regional market, which comprises the US, Canada, and Mexico. The market size is determined on the basis of retail sales of water heaters within these regions. The report also presents the vendor landscape and a corresponding detailed analysis of the three key vendors. The report also outlines the key trends emerging in the market. With over 95% penetration, water heaters have become commoditized in North America. Highest purchases include replacement emergency purchases followed by upgrade purchases for increased energy savings.


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