Market Trends of Russia Residential Water Heaters Industry
This section covers the major market trends shaping the Russia Residential Water Heaters Market according to our research experts:
Preference to Electric Water Heaters over other types of Heaters
The Electric Water Heaters offer benefits such as better energy efficiency, environment-friendly capabilities and advanced temperature control for long duration of time. These factors are predicted to fuel the market demand for Electric Water Heaters over the other types of Water Heaters in the upcoming period. The Electric Water Heater is capable of performing day-to-day applications such as cooking, cleaning and bathing. Increasing penetration of Electric Water Heaters in rural areas in both developing and underdeveloped regions in Russia coupled with lowered cost are anticipated to boost market performance for Electric Water Heater industry, in the near future. Additionally, easy availability of Electric Water Heaters due to the presence of various distribution channels such as supermarkets, hypermarkets, retail stores and e-commerce retail chains is positively affecting market growth.
Increase in the number of residential buildings in Russia
There has been an increase in the total number of houses or buildings from the year 2000. Also majoirty of the people in Russia have better standard of living and as a result they look for basic amenities which include Hot Water as one of those. Also the temperature is Russia is relatively low. So the Hot Water becomes one of the important requirement for Russians. The newly constructed houses in Russia are expected to be equipped with Water Heaters atleast in the urban regions like Moscow and St. Petersburg. In the recent years, people are aware of the enhanced benefits of Hot Water and this is quite evident in the urban regions of Russia. So taking all these factors into consideration, the rise of the residential sector in Russia is expected to improve the market growth in the coming years.
