Market Forecast By Product (Storage Electric Water Heater, Non-Storage Electric Water Heater), By Capacity (Up to 30 Litres, 30.1 to 100 Litres, 100.1 to 250 Litres, 250.1 to 400 Litres, Above 400 Litres), By Application (Residential, Commercial, Industrial) And Competitive Landscape
Product Code: ETC261705 | Publication Date: Aug 2022 | Updated Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 69 | No. of Figures: 13 | No. of Tables: 9 | |
Iraq Electric Water Heater Market has shown decent growth during the pre-COVID years owing to the growing healthcare sector along with investments in the residential sector. In 2020, imports of electric water heaters suffered on account of disruption in the global supply chain due to the imposition of covid restrictions. Moreover, a temporary halt in global production facilities of electric water heaters negatively affected the Iraq electric water heater market. However, after the pandemic, the market for Iraq electric water heaters is expected to grow during the forecast period on the back of growing infrastructure which is expected to experience a growth of 4.0% in 2023. Further, the hospitality sector would contribute to the growth of the market for electric water heaters in Iraq towards positive development and is expected to further propel the demand for water heaters in the coming years.
According to 6Wresearch, Iraq Electric Water Heater Market revenue size is projected to grow at a CAGR of 5.1% during 2023-2029. The market would experience growth in the forecast period on account of the growing construction and healthcare sector in Iraq. Between 2022 and 2025, the infrastructure sector is anticipated to grow at an average annual rate of around 6% which includes investments in infrastructure projects related to hotels, education, and housing. Several infrastructure projects such as Al Rasheed Residential City, Al Sadr City and others would contribute to the demand for electric water heaters in future. Moreover, Iraq is planning to complete the Al-Hurriya hospital project in Baghdad which has achieved a 55 per cent completion rate and is expected to open by the end of 2024 which would further boost the demand for electric water heaters.
Storage electric water heaters accounted for the highest revenue share in 2022 owing to their ability to store hot water for a considerable period and provide a consistent supply of heated water to meet the varying demands of households and commercial establishments. Storage electric water heaters are expected to register the highest growth rate in the upcoming years owing to technological advancements that enhance cost-effectiveness for larger capacity units which cater for a larger audience in Iraq.
Electric water heaters ranging from 100.1L to 250L secured the highest revenue share owing to their suitability for larger households and commercial establishments such as hospitality, healthcare, and manufacturing which require substantial hot water volumes.
The Iraq Electric Water Heater Industry is dominated by the residential sector, which accounts for a significant revenue share due to strong demand and widespread use of water heaters in residential units.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Iraq Electric Water Heater Market Overview |
3.1. Iraq Electric Water Heater Market Revenues & Volume, 2019-2029F |
3.2. Iraq Electric Water Heater Market – Industry Life Cycle |
3.3. Iraq Electric Water Heater Market – Porter’s Five Forces |
4. Iraq Electric Water Heater Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Iraq Electric Water Heater Market Trends |
6. Iraq Electric Water Heater Market Overview, By Product |
6.1. Iraq Electric Water Heater Market Revenues and Revenue Share by Product, 2019-2029F |
6.1.1 Iraq Electric Water Heater Market Revenues, by Storage, 2019-2029F |
6.1.2 Iraq Electric Water Heater Market Revenues, by Non-Storage, 2019-2029F |
6.2. Iraq Electric Water Heater Market Volume & Volume Share by Product, 2019-2029F |
6.2.1 Iraq Electric Water Heater Market Volume, by Storage, 2019-2029F |
6.2.2 Iraq Electric Water Heater Market Volume, by Non-Storage, 2019-2029F |
7. Iraq Electric Water Heater Market Overview, By Application |
7.1. Iraq Electric Water Heater Market Revenues and Revenue Share by Application, 2019-2029F |
7.1.1 Iraq Electric Water Heater Market Revenues, by Residential, 2019-2029F |
7.1.2 Iraq Electric Water Heater Market Revenues, by Commercial, 2019-2029F |
7.1.3 Iraq Electric Water Heater Market Revenues, by Industrial, 2019-2029F |
8. Iraq Electric Water Heater Market Overview, By Capacity |
8.1. Iraq Electric Water Heater Market Revenues and Revenue Share by Capacity, 2019-2029F |
8.1.1 Iraq Electric Water Heater Market Revenues, Up to 30 Litres, 2019-2029F |
8.1.2 Iraq Electric Water Heater Market Revenues, 30.1 to 100 Litres, 2019-2029F |
8.1.3 Iraq Electric Water Heater Market Revenues, 100.1 to 250 Litres, 2019-2029F |
8.1.4 Iraq Electric Water Heater Market Revenues, 250.1 to 400 Litres, 2019-2029F |
8.1.5 Iraq Electric Water Heater Market Revenues, Above 400 Litres, 2019-2029F |
8.2. Iraq Electric Water Heater Market Volume and Volume Share by Capacity, 2019-2029F |
8.2.1 Iraq Electric Water Heater Market Volume, Up to 30 Litres, 2019-2029F |
8.2.2 Iraq Electric Water Heater Market Volume, 30.1 to 100 Litres, 2019-2029F |
8.2.3 Iraq Electric Water Heater Market Volume, 100.1 to 250 Litres, 2019-2029F |
8.2.4 Iraq Electric Water Heater Market Volume, 250.1 to 400 Litres, 2019-2029F |
8.2.5 Iraq Electric Water Heater Market Volume, Above 400 Litres, 2019-2029F |
9. Iraq Electric Water Heater Market Key Performance Indicators |
10. Iraq Electric Water Heater Market Opportunity Assessment |
10.1. Iraq Electric Water Heater Market Opportunity Assessment, By Product, 2029F |
10.2. Iraq Electric Water Heater Market Opportunity Assessment, By Applications, 2029F |
10.3. Iraq Electric Water Heater Market Opportunity Assessment, By Capacity, 2029F |
11. Iraq Electric Water Heater Market Competitive Landscape |
11.1. Iraq Electric Water Heater Market Revenue Share, By Company (2022) |
11.2. Iraq Electric Water Heater Market Competitive Benchmarking, By Technical Parameters |
11.3. Iraq Electric Water Heater Market Competitive Benchmarking, By Operating Parameters |
12. Company Profiles |
12.1 Jaquar Group |
12.2 The Bosch Group |
12.3 Bradford White Corporation |
12.4 General Electric Company |
12.5 Havells India Limited |
12.6 Bajaj Electricals Limited |
12.7 Quantum Limited |
12.8 BOJ Middle East Home Appliances LLC |
12.9 Barfab company |
13. Key Strategic Recommendations |
14. Disclaimer |
List of Figures |
1. Iraq Electric Water Heater Revenues and Volume, 2019-2029F, ($ Million, Thousand Units) |
2. Iraq Hospital Projects, 2022 |
3. Iraq Per capita CO2 Emissions, 2017-2021 (in Tonnes) |
4. Iraq Electric Water Heater Revenue Share, By Product, 2022 & 2029F |
5. Iraq Electric Water Heater Volume Share, By Product, 2022 & 2029F |
6. Iraq Electric Water Heater Revenue Share, By Application, 2022 & 2029F |
7. Iraq Electric Water Heater Revenue Share, By Capacity, 2022 & 2029F |
8. Iraq Electric Water Heater Volume Share, By Capacity, 2022 & 2029F |
9. Iraq International Tourist Arrivals 2019&2020 |
10. Iraq Electric Water Heater Opportunity Assessment, By Product, 2029F |
11. Iraq Electric Water Heater Opportunity Assessment, By Application, 2029F |
12. Iraq Electric Water Heater Opportunity Assessment, By Capacity, 2029F |
13. Iraq Electric Water Heater Revenue Ranking, By Companies, 2022 |
List of Tables |
1. Iraq Ongoing Infrastructure Projects |
2. Iraq Ongoing Power Plant Projects |
3. Iraq Electric Water Heater Revenues, By Product, 2019-2029F ($ Million) |
4. Iraq Electric Water Heater Volume, By Product, 2019-2029F (Thousand Units) |
5. Iraq Electric Water Heater Revenues, By Application, 2019-2029F ($ Million) |
6. Iraq Electric Water Heater Revenues, By Capacity, 2019-2029F ($ Million) |
7. Iraq Electric Water Heater Volume, By Capacity, 2019-2029F (Thousand Units) |
8. Iraq Completed and Ongoing Residential Projects |
9. Number of Tourism in Iraq, By Province, 2021-2022 (Million Arrivals) |