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Energy Industry News Releases

Saudi Arabia Water Heater Market Report: Top Companies, Trends and Future Prospects Details for Business Development

 



(EnergyIndustry.Net, August 23, 2019 ) According to the latest report by IMARC Group, titled “Saudi Arabia Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Saudi Arabia water heater market size reached US$ 74.5 Million in 2018. Water heaters are appliances that utilize a fuel source, electricity or solar energy to heat water in residential, commercial and industrial sectors. They are connected to a water source which supplies the hot water to numerous fixtures and appliances across a house or a building including taps, showers and dishwashers. They are utilized across households for various purposes, such as taking baths or washing clothes. These heaters are also employed across multiple industrial sectors such as paper manufacturing, food and beverage, and wastewater treatment for a diverse array of applications. Improving standards of living and inflated disposable incomes in Saudi Arabia have bolstered the sales of water heaters across the region.

Request for a free sample copy of this report: https://www.imarcgroup.com/saudi-arabia-water-heater-market/requestsample

Saudi Arabia Water Heater Market Trends:

A rise in the requirement for warm and hot water across households in Saudi Arabia is one of the primary factors driving the growth of the market. Changing lifestyles and high per capita income levels have led to an increase in the adoption of water heaters for daily purposes such as cooking, cleaning and bathing. Additionally, the thriving hospitality sector in the region is influencing the sales of these heaters. Moreover, inflating electricity prices, along with the growing awareness regarding the use of conventional sources of energy, has led the users to shift toward solar water heaters which are not only eco-friendly but also require low maintenance. Continuous technological advancements such as the advent of Wi-Fi compatible tankless water heaters are further anticipated to provide a thrust to the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 157.2 Million by 2024, exhibiting a CAGR of 12.9% during 2019-2024.

Explore full report with table of contents: https://www.imarcgroup.com/saudi-arabia-water-heater-market

Market Summary:

Market Breakup by Type:

On the basis of the type, the market has been divided into storage covering water heater, solar water heater and instant water heaters. At present, storage covering water heater is the most preferred segment.

Market Breakup by End-Use:

Based on the end use, the residential sector accounts for the majority of the overall market share. Other major segments include the commercial and industrial sectors.

Competitive Landscape:

The competitive landscape of the market has also been analyzed in the report with some of the key players being Ariston Thermo SpA, Orbital Horizon Est., Saudi Ceramics Company and Al Huraiz Est. For industry.

Browse More Reports By IMARC Group:

GCC Water Heater Market Report: https://www.imarcgroup.com/gcc-water-heater-market

Circuit Breaker Market Report: https://www.imarcgroup.com/circuit-breaker-market

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC Services Pvt. Ltd.

Richard Lewis

6317911145

sales@imarcgroup.com

Source: EmailWire.Com

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