Dublin, Aug. 31, 2020 (GLOBE NEWSWIRE) — The “Middle East And North Africa (MENA) Electric Water Heater Market (2020-2026): Market Forecast by Product, by Applications, by Countries, and Competitive Landscape.” report has been added to ResearchAndMarkets.com’s offering.
The Middle East and North Africa electric water market is expected to witness a healthy growth as Middle Eastern countries are expected to witness a construction spree in the coming years, with infrastructure projects being developed to match current standards of infrastructure in developed nations such as the USA and China, along with the setting up of large-scale commercial establishments, such as economic cities, medical cities, hotels, and offices. The countries are striving to strengthen their non-oil sectors such as residential and hospitality, which would bode well for the market. Nevertheless, in 2020, the sales of water heaters are expected to drop in every country owing to the coronavirus pandemic as the electric water heater market experiences a downfall from the supply-halt in 2020. This sales-drop period could extend beyond 2020 depending on the pandemic situation.
According to this research, the Middle East and North Africa (MENA) Electric Water Heater Market is projected to grow at a CAGR of 5.5% during 2020-26F. Government initiatives, such as UAE Vision 2030 and Oman Vision 2040, are expected to aid the growth of the non-oil economy in the countries during the forecast period. By product, the storage water heater segment accounted for the majority of the revenue share in the overall electric heater market in 2019 owing to lower installation charges of storage water heating units. Moreover, the operating system of a storage water heater is user-friendly, which significantly reduces the maintenance and repair costs as well. Furthermore, aided by easier and cheaper travel, North African countries such as Morocco and Egypt have seen a rise in the development of hotels, which would expand the revenue share of the region in the MENA electric water heater market in the coming years.
The commercial, hospitality and residential sectors in North African and Middle Eastern countries are expected to grow moderately during the forecast period as the infrastructure segment in these countries is predicted to flourish in the years to come. In 2019, the residential sector held the top position in terms of revenue on account of improving lifestyle and increasing disposable income.
The report comprehensively covers the market by product, capacity, applications, and countries. The report provides an unbiased and detailed analysis of the market trends, Middle East and North Africa electric water heater market share, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights:
- Historical Data of Middle East and North Africa Electric Water Heater Market Revenues and Volume for the period, 2017-2019
- The Middle East and North Africa Electric Water Heater Market Forecast of Revenues and Volume, Until 2026
- Historical Data of UAE, Saudi Arabia, Qatar, Kuwait, Algeria, Oman, Egypt, and Morocco Electric Water Heater Market Revenues and Volume for the period, By Product, 2017-2019
- Forecast of UAE, Saudi Arabia, Qatar, Kuwait, Algeria, Oman, Egypt, and Morocco Electric Water Heater Market Revenues and Volume, By Product, Until 2026
- Historical Data of UAE, Saudi Arabia, Qatar, Kuwait, Algeria, Oman, Egypt, and Morocco Electric Water Heater Market Revenues and Volume for the period, By Capacity, 2017-2019
- Forecast of UAE, Saudi Arabia, Qatar, Kuwait, Algeria, Oman, Egypt, and Morocco Electric Water Heater Market Revenues and Volume, By Capacity, Until 2026
- Historical Data of UAE, Saudi Arabia, Qatar, Kuwait, Algeria, Oman, Egypt and Morocco Electric Water Heater Market Revenues for the period, By Applications, 2017-2019
- Forecast of UAE, Saudi Arabia, Qatar, Kuwait, Algeria, Oman, Egypt, and Morocco Electric Water Heater Market Revenues, By Applications, Until 2026
- Market Drivers and Restraints
- Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Share, By Company
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Companies Mentioned
- A.O. Smith Corporation
- Ariston Thermo SpA
- Bradford White Corporation
- Ecotherm Austria GmbH
- Haier Smart Home Co. Ltd.
- Jaquar Group
- Rheem Manufacturing Company
- Rinnai Corporation
- Robert Bosch GmbH
- Saudi Ceramics Company
For more information about this report visit https://www.researchandmarkets.com/r/exkn60
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