Russia Residential Water Heaters Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Russia Residential Water Heaters Market Analysis
COVID-19 pandemic had a profound impact on the Russia Water Heaters Market due to the sudden economic slowdown due to the health crisis. Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in disruptions in import and export activities of Water Heaters.
Residential water heaters are units designed to provide hot water for residential applications. This includes the heating of potable (drinkable) water and space heating in domestic residences, such as private homes, apartments, or condominiums. In majority of the regions in Russia, buildings that have a centralized hot-water system, dedicated pipelines from these sources are provided as per the individual demands. Increasing government initiatives in Russia to improve rural infrastructure and uninterrupted electricity availability in these areas is expected to provide new opportunities to market growth. The Residential Water Heater Market will benefit from rising demand for energy efficient systems and geysers, as well as favorable regulatory restrictions on carbon emissions.
Also the facility of Hot Water is becoming more common these days in Russia as one of the residential amenities. Extreme cold climate in Russia is another factor which is acting as a catalyst in improving the overall demand for Water Heaters. In addition to this, the expanding variety of strategies used by key companies to extend their presence, such as partnership, acquisition, and collaboration, as well as innovation in water heating technology to acquire market traction, is expected to drive market expansion. Overall, the Russia Residential Water Heaters Market is expected to grow at a constant rate in the upcoming years.
Russia Residential Water Heaters Market Trends
This section covers the major market trends shaping the Russia Residential Water Heaters Market according to our research experts:
Preference to Electric Water Heaters over other types of Heaters
The Electric Water Heaters offer benefits such as better energy efficiency, environment-friendly capabilities and advanced temperature control for long duration of time. These factors are predicted to fuel the market demand for Electric Water Heaters over the other types of Water Heaters in the upcoming period. The Electric Water Heater is capable of performing day-to-day applications such as cooking, cleaning and bathing. Increasing penetration of Electric Water Heaters in rural areas in both developing and underdeveloped regions in Russia coupled with lowered cost are anticipated to boost market performance for Electric Water Heater industry, in the near future. Additionally, easy availability of Electric Water Heaters due to the presence of various distribution channels such as supermarkets, hypermarkets, retail stores and e-commerce retail chains is positively affecting market growth.
Increase in the number of residential buildings in Russia
There has been an increase in the total number of houses or buildings from the year 2000. Also majoirty of the people in Russia have better standard of living and as a result they look for basic amenities which include Hot Water as one of those. Also the temperature is Russia is relatively low. So the Hot Water becomes one of the important requirement for Russians. The newly constructed houses in Russia are expected to be equipped with Water Heaters atleast in the urban regions like Moscow and St. Petersburg. In the recent years, people are aware of the enhanced benefits of Hot Water and this is quite evident in the urban regions of Russia. So taking all these factors into consideration, the rise of the residential sector in Russia is expected to improve the market growth in the coming years.
Russia Residential Water Heaters Industry Overview
The report includes an overview of the top players in the Residential Water Heaters Market operating across Russia. The Russia Residential Water Heaters Market is characterized by moderately consolidated players along with some other players which occupy a significant portion of the market share.
Russia Residential Water Heaters Market Leaders
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Thermex
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SST Group
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Haier
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Vogel Flug ltd.
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Lemax
*Disclaimer: Major Players sorted in no particular order
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Russia Residential Water Heaters Market News
- On January 2022, Haier Smart Home has rolled out two core platforms namely Three Winged Bird Experience Cloud and Smart Home Brain, four scenarios including smart kitchen, smart air supply, smart water supply and whole-house intelligence and other digital technologies to provide consumers a user-friendly home appliance experience.
- On September 2021, SST Group opened its new office and manufacturing facility in Mytischi, Moscow Region, Russia, thereby increasing its manufacturing floor space by 19 thousand square meters. The new SST Group facility is a six-floor office building and a three-level manufacturing and logistics facility.
Russia Residential Water Heaters Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. INDUSTRY DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Industry Attractiveness - Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Storage Water Heaters
5.1.2 Non-Storage Water Heaters
5.1.3 Hybrid Water Heaters
5.2 By Energy Source
5.2.1 Electric
5.2.2 Gas
5.2.3 Solar
5.2.4 Others
5.3 By Capacity
5.3.1 Small Water Heater
5.3.2 Medium Water Heater
5.3.3 Large Water Heater
5.4 By Distribution Channel
5.4.1 Multi-Branded Stores
5.4.2 Exclusive Stores
5.4.3 Online Stores
5.4.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
6.2.1 Thermex
6.2.2 Haier
6.2.3 SST Group
6.2.4 Vogel Flug Ltd.
6.2.5 Lemax
6.2.6 Bosch
6.2.7 Rheem
6.2.8 Baltgaz Group
6.2.9 Isoterm
6.2.10 Ariston Thermo*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Russia Residential Water Heaters Industry Segmentation
Hot water heaters are appliances used to heat water and to keep it at a more or less constant elevated temperature. A complete background analysis of the Russia Residential Water Heaters Market, which includes an assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and logistics spending by the end-user industries, is covered in the report. Russia Residential Water Heaters Market is segmented By Product Type(Storage Water Heaters, Non-Storage Water Heaters and Hybrid Water Heaters), By Energy Source Type(Electric, Gas, Solar and Others), By Capacity(Small Water Heater, Medium Water Heater and Large Water Heater) and By Distribution Channel (Multi-Branded Stores, Exclusive Stores, Online Stores and Other Distribution Channels).
| By Product Type | |
| Storage Water Heaters | |
| Non-Storage Water Heaters | |
| Hybrid Water Heaters |
| By Energy Source | |
| Electric | |
| Gas | |
| Solar | |
| Others |
| By Capacity | |
| Small Water Heater | |
| Medium Water Heater | |
| Large Water Heater |
| By Distribution Channel | |
| Multi-Branded Stores | |
| Exclusive Stores | |
| Online Stores | |
| Other Distribution Channels |
Russia Residential Water Heaters Market Research FAQs
What is the current Russia Residential Water Heaters Market size?
The Russia Residential Water Heaters Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Russia Residential Water Heaters Market?
Thermex, SST Group, Haier, Vogel Flug ltd. and Lemax are the major companies operating in the Russia Residential Water Heaters Market.
What years does this Russia Residential Water Heaters Market cover?
The report covers the Russia Residential Water Heaters Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Russia Residential Water Heaters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Russia Residential Water Heaters Industry Report
Statistics for the 2024 Russia Residential Water Heaters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Russia Residential Water Heaters analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
