UAE Electric Water Heater Market (2020-2026) | Size, Share, Trend, Growth, Value, industry, Outlook & COVID-19 IMPACT

Latest Development (2022) in UAE Electric Water Heater Market

UAE Electric Water Heater Market is expected to gain proliferation on account of increasing demand for hot water from various sectors such as residential, commercial and industrial sectors. The increasing need for an energy-efficient source of heating coupled with alleviating the traditional method of heating is driving the UAE Electric Water Market Growth. Moreover, the growing advancement of technology coupled with the adoption of modern water heaters is proliferating the demand in the industry. Increasing investment in research and technology coupled with rising penetration towards reducing the cost is also adding to the UAE Electric Water Heater Market Share.

UAE Electric Water Heater Market Synopsis

UAE Electric Water Heater Market report comprehensively covers the UAE electric water heater market by product, capacity and applications. UAE electric water heater market report provides an unbiased and detailed analysis of the UAE electric water heater market trends, UAE electric water heater market share, opportunities/high growth areas, and market drivers which would help the stakeholders device and align their market strategies according to the current and future market dynamics.

UAE Electric Water Heater Market is expected to grow at a moderate rate in the coming years as thriving hospitality and residential sectors are expected to propel the demand for electric water heaters in the coming years. The UAE’s leisure and entertainment markets are expected to grow as 45 million visitors are expected by 2021, including 30 million international tourists, which would stimulate business growth. However, the actual visitor numbers could be lower than the expected numbers due to the uncertainties surrounding the pandemic situation. Moreover, the coronavirus pandemic would slow down the market in terms of the supply of the product during 2020. While on the other hand, the demand side would also fall victim to the slowdown due to the market being closed during the lockdown period. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in the overall market growth.

According to 6Wresearch, the UAE Electric Water Heater Market size is projected to grow at a CAGR of 3.6% during 2020-2026. In 2019, housing developments accounted for the majority of construction projects in the country. The introduction of various innovative products by the manufacturers is adding to the development of the market. Moreover, numerous major players have also entered the market which is further propelling the demand for electric water heater in UAE. Growing disposable income coupled with a surging standard of living are also some of the key factors driving the development of the industry. 

Market Analysis by Types

In 2019, storage water heaters dominated the product segment in terms of revenue and volume on account of lower installation charges. Moreover, the operating system of a storage water heater is relatively user-friendly, which significantly reduces the maintenance and repair costs as well.

Market Analysis by Applications

On the basis of application, the Residential sector acquired the majority of the revenue share in 2019, on account of increasing disposable income and improving living standards among the households. The softening of prices has improved affordability in Dubai’s residential market, which would increase the transaction volumes, and thus accelerate the demand for real estate. Such developments would bode well for the electric water heater market over the coming years in the country.

Impact of COVID-19 On UAE Electric Water Heater Market

The outburst of the coronavirus pandemic has declined the UAE Electric water heater market growth owing to the nationwide lockdown. Various restrictions imposed by the government led to disruption in the supply chain of the market. The health emergency disrupted the supply chain of Electric Water heaters. However, the market is expected to re-gain its growth during the upcoming years owing to the reopening of production units and the lifting of restrictions.

Key players in the market

Some of the key players in the UAE Electric Water Heater Market are:

• General Electric Co.
• Rheem Manufacturing Company.
• A.O. Smith Corp.
• Midea Group.
• Siemens AG.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• UAE Electric water heater Market Overview
• UAE Electric Water Heater Market Outlook
• UAE Electric Water Heater Market Forecast
• UAE Electric Water Heater Market Size
• Historical Data of UAE Electric Water Heater Market Revenues and Volume for the period, 2017-2019
• UAE Electric Water Heater Market Forecast of Revenues and Volume, Until 2026
• Historical Data of UAE Electric Water Heater Market Revenues and Volume for the period, By Product, 2017-2019
• Forecast of UAE Electric Water Heater Market Revenues and Volume, By Product, Until 2026
• Historical Data of UAE Electric Water Heater Market Revenues and Volume for the period, By Capacity, 2017-2019
• Forecast of UAE Electric Water Heater Market Revenues and Volume, By Capacity, Until 2026
• Historical Data of UAE Electric Water Heater Market Revenues for the period, By Applications, 2017-2019
• Forecast of UAE Electric Water Heater Market Revenues, By Applications, Until 2026
• UAE Electric Water Heater Market Outlook on Drivers and Restraints
• UAE Electric Water Heater Market Trends
• UAE Electric Water Heater Industry Life Cycle
• Porter’s Five Force Analysis
• UAE Electric Water Heater Market Opportunity Assessment
• UAE Electric Water Heater Market Share, By Company
• UAE Electric Water Heater Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product:

• Up to 30 Litres
• 1 to 100 Litres
• 1 to 250 Litres
• 1 to 400 Litres
• Above 400 Litres
• Storage Water Heaters
• Non-Storage Water Heaters

By Applications:

• Residential
• Commercial
• Industrial