Increased Adoption Of Storage Water Heaters To Push The Demand For Water Heaters In Middle East
Rising residential construction to propel water heater consumption in the Middle East
The Middle East water heater market is thriving with the surging rollout of a range of products by leading industry players. These participants are focusing on the adoption of strategic initiatives such as mergers, acquisitions, partnerships, and collaborations for consolidating their position in the market.
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For instance, in August 2021, Pantheon Development launched its Pantheon Elysse 2 project in JVC. The initiative will be the first in the UAE to utilize a water heating technology that will be deploying natural gas instead of electricity. The technology will allow kitchen boilers in units of the building to heat water more efficiently and faster than conventional boilers that run on electricity.
Citing yet another instance, in August 2020, A.O. Smith, one of the prominent water heater manufacturers, rolled out a 3-liter instant water heater, MiniBot, equipped with new technology. With this launch, the company is speculated to redefine the standards in the instant water heaters category.
Owing to similar advancements, the Middle East water heater market share will record substantial growth through 2027. Despite the introduction of a broad array of products, electric water heaters have gained prominence due to their convenience. Of these, storage water heaters are in high demand in domestic households.
Storage water heaters make use of a large tank for the purpose of storing hot water for longer durations. The tanks are equipped with a range of insulation walls and coatings. The multiple benefits of storage water heater include its ease of installation and the advantage of energy saving. The heaters are cost-effective and do not need a high flow rate.
Driven by the aforementioned benefits and their nature of functioning, electric storage water heaters are a preferred choice in most households.
Rising gas water heater and instant water heater demand in the Middle East
The Middle East is witnessing a rising demand for gas water heaters due to the advantage of more efficient water heating and lower energy bills. As per statistics, almost 20% of the average home energy costs are due to water heating. Given that natural gas is cheaper in most areas, this constitutes substantial savings when considered in the long term.
In addition, making a shift to gas provides an extensive choice of water-heating options and high water flow rates.
Meanwhile, the region is also experiencing a higher adoption of instant water heaters that are fairly convenient for usage and installation. Owing to the small capacity of storage, instant water heaters have a high rate of heating.
However, these heaters are more conducive for purposes that do not need a large amount of water. That is reason why more and more people are preferring its usage for the kitchen.
Commencement of large scale projects in Saudi Arabia to boost product penetration
Saudi Arabia is recording a considerable demand for water heaters owing to the introduction of numerous large-scale projects comprising the King Abdullah Financial city for reforming the infrastructure in the country. The product adoption is also propelled by the increasing urban population and ongoing initiatives for the construction of residential buildings.
In a nutshell, the soaring number of product development initiatives by major water heater companies in the Middle Eastern countries will augment the regional water heater market growth through the forecast period.
