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Chicago, October 14, 2021/PRNewswire/-This US water heater market report contains in-depth analysis and data-driven insights on the impact of COVID-19.
It is estimated that the compound annual growth rate of the US water heater market during 2020-2026 will exceed 4.89%.
The main highlights provided in the report:
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U.S. Water Heater Market-Segmentation
The U.S. Water Heater Market by Product Type
U.S. Water Heater Market by Category
U.S. Water Heater Market by Distribution Channel
U.S. Water Heater Market by End User
U.S. Water Heater Market-Dynamic
The use of technology is no longer limited to any specific field, because it can find its applications in multiple industries. Similarly, water heaters in the new era increasingly utilize multiple modern technologies such as the Internet of Things (IoT) to improve the convenience of operation and provide a better customer experience. Therefore, the higher propensity of the US population for technologically advanced products is expected to provide huge growth opportunities for smart water heater suppliers, which will drive the US water heater market. Smart water heaters can not only save energy, but also promote easier control for consumers. For example, the water heater adjusts the water temperature according to the user's requirements. Smart water heaters can be easily connected to the Internet and accessed through the web and mobile applications, allowing consumers to manage the water heater remotely.
The main driving factors and trends driving market growth:
U.S. Water Heater Market-Geography
The Midwestern United States includes Indiana, Illinois, North Dakota, Wisconsin, and Minnesota. Because Illinois, Michigan and Ohio are located in the eastern United States. The colder weather in winter and temperature fluctuations in summer make water heaters a necessity in these states. In 2020, the revenue share of the US Midwest water heater market is 32.59%. Due to the increasing use of water heaters by government agencies, shopping malls, and residential sectors, this market is expected to experience abnormal growth. It has made investments worth more than 2 billion U.S. dollars in the field of health care, thereby seizing the huge demand for water heaters in this field. Technological advancements and the growing tendency towards smart appliances that minimize carbon emissions may support the growth of the district water heater market.
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The U.S. Water Heater Market by Geography
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