Propane included in water heater market report

Persistence Market Research included information about propane water heaters in a report titled, “Global Market Study on Water Heater Market: Increased Product Visibility Has Resulted in Increasing Demand for Energy-Efficient Water Heaters in the Recent Past.”

According to the report, the entire water heater market will have an estimated value of $39.5 billion by the end of 2015. The entire market is expected to grow at a rate of 4.9 percent from 2015 to 2021. About 68.8 million water heater units will be installed across the globe by the end of 2015, with the overall market anticipated to expand at a rate of 4.6 percent during the forecast period.

The report says the gas and propane heaters segment will account for a significant share of the market during the forecast period based on volume. Electric heaters will likely dominate the market in terms of value share contribution by 2021.

Water heaters have been a focus of the propane industry this year. The Propane Education & Research Council has promoted a campaign to educate homeowners and construction professionals about the benefits of propane-fueled water heaters, and the council has discussed at length how to further the market opportunities.

A detailed version of the Persistence Market Research report can be purchased online.