Geysers work on relation between various forms of energy such as mechanical, electrical or chemical energy, and heat. Geysers are used to heat water and are widely used, both in the residential as well as commercial sectors such as hotels, resorts, etc. Based on the source of energy that is used to heat water, geysers can be classified into different types: electric water geyser and gas water geyser. With increasing demand for tank-less geysers, the geysers market is expected to grow with good rate in the coming years. Some of the factors that need to be taken into consideration by manufacturers are noise pollution, disposal of liquid, solid, and gaseous waste, etc.
With the development of residential sector, the demand for water geyser is likely to grow
Factors, such as growing consumer preference for tank-less geysers are driving the growth of the market
Manufacturers are producing affordable water geyser units in order to penetrate the market. Energy consumption of water heaters depends on the volume of water usage or water to be heated.
Factors, such as area of installation, are considered for easy connection of faucets inputs and outputs, and are easily accessible for maintenance and repair
Electric shock occurs when there are bad quality switches installed on the water geyser, which can affect the growth of the geyser market
Other restraining factors such as overheating, water dripping, gas leakage, etc., can hamper the expansion of the geyser market
The geyser market is gaining more attention globally with technical advancements
One of the emerging trends spurring the market growth with the demand for hybrid geysers, which combines the technology of tanks and conventional tank-less geysers resulting in low energy consumption
Emergence of smart geysers is a key trend leading to the development of the market
The global geyser market can be segmented based on product type, capacity, end use, distribution channel, and region
Based on product type, the geyser market can be segmented into water tank geysers and tank-less geysers
Based on capacity, the geyser market can be classified into 1-5 liters, 5-10 liters, 10-20 liters, 20-50 liters, 50-100 liters, and 100 liters & more
Based on end use, the market can be bifurcated into residential and commercial water geysers. Additionally, geysers are progressively installed as per the demand and market requirement.
In terms of distribution channel, the geyser market can be classified into offline channel and online channel. Offline channel can be sub-divided into specialty or brands stores, and departmental stores. Online distribution channel is again sub-segmented into company-owned websites and e-Commerce sites.
In terms of region, the global geyser market can be divided into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Furthermore, North America is divided into countries such as the U.S., Canada, and Rest of North America. The Middle East & Africa region is divided into South Africa, GCC, and Rest of Middle East & Africa. Asia Pacific is divided into China, India, Japan, and Rest of Asia Pacific. Europe region is divided into Germany, France, Italy, the U.K., and Rest of Europe. South America is divided into Brazil and Rest of South America.
The global geyser market is highly competitive and fragmented due to the presence of several local and regional manufacturers and vendors operating out globally
Competition between manufacturers and vendors is expected to intensify as prominent international players are strengthening their position through mergers & acquisitions
Key players operating in the global geyser market are A.O. Smith, Bajaj Electricals, Bradford White, Crompton Greaves, Havells, Ariston Thermo, Haier, Midea Group, Noritz Corporation, Rinnai Corporation, Bosch, Eccotemp Systems, Rheem Manufacturing Co., Siemens AG, V Guard Industries, Linuo Ritter, and Viessmann