Market Trends of Europe Residential Water Heaters Industry
This section covers the major market trends shaping the Europe Residential Water Heaters Market according to our research experts:
Preference for Gas Water Heaters over other types of Water Heaters
There has been a consistent preference for Gas Water Heaters over other types of Water Heaters in Europe. This primarily due to the reason that the Gas Water Heaters are less expensive and it provides instant heat. And majority of the Gas Water Heaters used in Europe typically consume natural gas, which is of low cost. On the contrary, Electric Water Heaters use a lot of power to heat water only once. Also, it takes some time to heat the water and since it is run by electricity, there are always chances of a short circuit or a fuse getting blown off. Gas Tankless Water Heaters are alternatives to regular storage tank models, which take up plenty of space and leave homes without hot water for a while whenever the supply in the tank is depleted. Gas tankless heaters are more efficient than electric heaters when it comes to heating water on demand because they deliver more gallons per minute of hot water.
Concentration of market share being high in few countries like Germany,France and Italy
The market concentration of Water Heaters is predominantly high in the European countries like Germany, Italy and France. This is due to the factors like higher proportion of urban areas, relatively cooler temperatures than that of other countries and high income levels. The most energy used in the German heating sector is for space heating, fuelled mainly by natural gas and oil. About 18 percent of the final energy consumption in residential buildings goes into heating water. Roughly half of the country's 40 million homes are heated with natural gas, a quarter with oil and almost 14 percent with District Heating. Even in France and Italy, the high level of constructional activities are fueling for the demand of Water Heaters. Also the major Water Heater companies are focussed on selective countries due to the environmental and economical conditions. However the market is expected to be distributed evenly in the coming years.
