U.S. Water Heater Market Report: Imports, Exports, Prices & Forecast – IndexBox

/EIN News/ — Companies mentioned in the report: General Electric, Whirlpool, Carrier Corporation, State Industries, Bradford White, American Water Heaters, EcoSmart US, Goodman, AO Smith, Rinnai, Bosch, Ariston, Apen Group, Biemmedue, Stiebel Eltron, ACV, Kenmore, American Standard, Navien, Noritz, Reliance, Takagi, Electrolux, Bosh, Siemens, HTP, Ariston Thermo SpA, Viessmann, Venus Home Appliances, Bajaj Electricals, Himin Solar Energy

NEW YORK, June 15, 2022 (GLOBE NEWSWIRE) — IndexBox has just released a new report: “United States – Electric Water Heaters and Immersion Heaters – Market Analysis, Forecast, Size, Trends and Outlook”. Here is a summary of the main findings of the report.

US market statistics

Imports $681.5 million
Exports $234.6 million
Main foreign suppliers Mexico, China, Canada
Main export destinations Canada, Mexico, China

The US market for electric water heaters was estimated at approx. $1.1 billion in 2021. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediary margins, which will be included in the final price to the consumer). REQUEST FREE DATA

US Water Heater Exports

In 2021, overseas shipments of electric water heaters and immersion heaters were finally on the rise to reach 1.6 M units after two years of decline. Over the period under review, total exports showed a significant expansion from 2011 to 2021: their volume increased at an average annual rate of +4.2%. REQUEST FREE DATA

In value, exports of electric water heaters soared to $235M in 2021. In general, total exports showed a resilient increase from 2011 to 2021: their value grew at an average annual rate of +4 .2%. REQUEST FREE DATA

Exports by country

Canada (787,000 units) was the top destination for US electric water heater exports, accounting for a 49% share of total supplies. In addition, exports of electric water heaters to Canada exceeded three times the volume sent to the second main destination, Mexico (268,000 units). The third position in this ranking was occupied by China (48,000 units), with a share of 3%.

In terms of value, Canada ($90M) remains the top foreign market for US electric water heater exports, accounting for 38% of total supply. The second position in the ranking was occupied by Mexico (28 million dollars), with a share of 12% of total exports. It was followed by China, with a 6% share.

From 2011 to 2021, the average annual growth rate of value in Canada totaled +7.2%. Exports to the other main destinations recorded the following average annual growth rates: Mexico (+5.2% per year) and China (+16.5% per year).

Export prices by country

In 2021, the average export price of electric water heaters was $147 per unit, up 1.6% from the previous year. There were significant differences in average prices for major foreign markets. In 2021, the country with the highest price was China ($295 per unit), while the average export price to the United Arab Emirates ($64 per unit) was among the lowest. From 2011 to 2021, the most notable growth rate in terms of prices was recorded for deliveries to China (+7.1%), while prices for other major destinations experienced more modest growth rates. .

U.S. Water Heater Imports

In 2021, the quantity of electric water heaters and immersion heaters imported into the United States fell to 15 million units, down -5.2% from the previous year’s figure. Over the period under review, total imports showed strong growth from 2011 to 2021: their volume increased at an average annual rate of +5.8%.

In value, imports have risen sharply to reach $681 million in 2021. Over the past decade, imports have registered a significant expansion.

Imports by country

In 2021, China (9.6 million units) was the largest supplier of electric water heaters in the United States, accounting for a 66% share of total purchases. In addition, imports of electric water heaters from China exceeded the figures recorded by the second supplier, Mexico (3.4 million units), multiplied by three. Germany (382,000 units) ranked third in terms of total imports with a share of 2.6%.

In terms of value, Mexico ($360m) was the largest supplier of electric water heaters to the United States, accounting for 53% of total imports. The second position in the ranking was occupied by China ($172 million), with a 25% share of total purchases. It was followed by Canada, with a 5.8% share.

From 2011 to 2021, Mexico’s average annual value growth rate was +6.8%. The other supplier countries recorded the following average annual import growth rates: China (+14.3% per year) and Canada (+6.3% per year).

Import prices by country

The average import price of electric water heaters stood at $46 per unit in 2021, jumping 17% from the previous year. Prices varied significantly by country of origin: the country with the highest price was Canada ($117 per unit), while the price for China ($18 per unit) was among the lowest. From 2011 to 2021, the most notable price growth rate was achieved by Canada (+18.0%), while the prices of the other main suppliers experienced more modest growth rates.

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Product coverage

Instantaneous or storage electric water heaters and immersion heaters.

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