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Water Heating Market Report – UK 2015-2019 Analysis

  • April 2015
  • -
  • AMA Research
  • -
  • 72 pages

AMA Research have published the first edition of the report 'Water Heating Market Report – UK 2015-2019 Analysis'. The report represents an informed and up-to-date detailed review of the domestic and non-domestic water heating market, and offers excellent value for money. It reviews developments within the industry, with emphasis on both qualitative and quantitative market assessment. Recent trends, key influencing factors and forecasts of future developments are assessed in detail.

Key areas covered:

• UK water heating market- market size, sector mix, growth forecasts to 2019.


• Key trends and market influences - legislative changes, product trends, housing and economic factors.


• Sector reviews - market size, trends and forecasts, leading manufacturers and key distribution channels by product sector.


• Hot water storage systems - unvented cylinders, vented cylinders, thermal stores, gas-fired water heaters, renewables cylinders, small cylinders.


• Instantaneous water heaters - multi-point, single point.


• Boiling water heaters and taps - heater units, taps.


The total market for water heating products is substantial and changing in structure in recent years with more significant growth in certain sub-sectors. Also, with the further revisions to Part L in 2013, water heating products are being increasingly designed to deliver improved thermal performance, in order to achieve lower running costs.


Key areas of insight include:

• Impact of renewable technologies on domestic and non-domestic water heating systems.


• Impact of changing legislation regarding the efficiency and environmental impact of water heating – Energy Related Products Directive ErP 2015, Part L, new Housing Standards.


• Development of mains pressurised systems, with increasing demand for high flow rates, performance showering and trend towards multi-bathroom properties.


• Impact of volatile fuel prices with consumers and businesses looking for alternative methods of hot water heating.


• Roll out of smart metering from 2015, with the increased focus on energy efficient water heating products.


• Influence of initiatives such as the Green Deal and the ECO scheme, also the impact of the Carbon Reduction Committment (CRC) energy efficiency scheme.


Some of the companies included:

ACR Heat Products, AJ Wells and Sons, Ambi-Rad Group, Arada, Babcock Wanson UK, BDR Thermea, Be Modern, Beldray, Benson, BFM Europe, Biddle Air Systems, Bosch Commercial and Industrial Heating, Buderus, Burley Appliances, Consort Equipment Products, Crosslee, Danfoss, Delonghi, Diffusion, Dimplex, Electrorad, Euroheat Distributors (HBS), Faber, GDC Group, Hamworthy Heating, Heat Electric, Honeywell Control Systems, Horstmann Controls, Hyco Manufacturing, Ideal Stelrad Group, Johnson Controls, Kudox, Myson Radiators, Nu-flame, Pegler Yorkshire, Potterton Commercial, Powrmatic, Prem-i-air Appliances, Remeha, Rettig Group, Reznor, Roberts-Gordon Europe, Robeys, Robinson Willey, Schneider Electric, Siemens Plc, Stiebel Eltron, Stovax Group, Sunvic Controls, TFC Group, Thermoscreens Johnson & Starley, Timeguard, Unidare. Valor, Vent-Axia, Wellman Thermal Systems.

Key areas covered in the report include:

HOT WATER STORAGE SYSTEMS

• Overall market size, trends and forecasts – legislative changes – Part L. ErP, government grants and incentives etc. Domestic ownership levels. Source of fuel. Product mix etc. Forecasts through to 2019.


• Overall product mix data, small and large cylinders.


• Cylinders >15 litre capacity – product mix by type, vented and unvented, direct and indirect. Market size, developments etc.


• Renewable cylinders – solar and heat pump compatible cylinders, twin and triple coil. Trends, future prospects etc.


• Thermal storage systems – benefits, characteristics, applications etc.


• Pre-plumbed cylinders - market trends, benefits, new house build, existing properties etc.


• Small cylinders <15 litre capacity – vented and unvented, trends, market size etc.


• Major manufacturers – Market share, factors influencing market position, characteristics, turnover etc.


• Review of distribution – key channels and developments.


• Installation and specification - trends, new build, refurbishment


• Future prospects in all product sectors.


INSTANTANEOUS WATER HEATERS

• Overall market size, trends and forecasts. Legislative changes – Part L, ErP etc. Government initiatives – smart meters etc. Advantages and disadvantages. Forecasts through to 2019.


• Multi-point heaters - gas-fired, electric. Trends, condensing technology, applications, future prospects etc.


• Single-point heaters – gas-fired, electric. In-line, hand wash units. Product trends, developments etc.


• Leading manufacturers – market shares, characteristics, turnover etc.


• Review of distribution – key channels and developments.


BOILING WATER HEATERS AND TAPS

• Overall market size, trends and forecasts. Forecasts through to 2019.


• Boiling water heaters – trends and influences. Product developments etc.


• Boiling water taps – market trends, benefits, applications, developments etc.


• Leading manufacturers – market shares, characteristics, turnover etc.


• Review of distribution – key channels and developments.

The core product sectors of the UK space and water heating market include hot water storage systems, which accounts for around 70% of the market, instantaneous water heaters and boiling water heaters and taps. Between 2010 and 2012, the UK water heating market was comparatively volatile - in line with the uncertain economic situation at this time. However, since 2013 the market for domestic and non-domestic water heating products have modestly increased, with demand picking up as the economy improves. The UK water heating market saw marginal growth in 2014, with an increase of a further 2% by value expected during 2015.

The number of homes with hot water storage has declined significantly in recent years, with the increasing reliance on combination boilers for hot water provision. The vast majority of new homes now have a mains pressurised system installed as standard, predominantly in the form of an unvented storage cylinder in larger properties and a combination boiler in smaller to medium properties and apartments. The market for instantaneous water heaters has seen some moderate growth more recently, particularly in the commercial sector. However, demand for multi-point instantaneous water heaters have been negatively impacted by the development of the market for combination boilers. This sector is dominated by replacement demand, which is a large, but declining market. The market for boiling water heaters for hot drinks has seen good growth over the last 5 years, particularly in commercial applications such as offices, staff canteens and factories.

Positive influences on this market include the growing concerns about energy efficiency and the environment. The government has introduced a significant amount of environmental legislation in recent years placing a greater emphasis on carbon emissions and fuel efficiency. In overall terms, water heating products are being increasingly designed to deliver improved thermal performance, in order to achieve lower running costs. This trend has been influenced by the further revisions to Part L in 2013. These changes have contributed to a reduction in the overall space and water heating load in the new build sector, with more stringent energy efficiency requirements.

The majority of water heating products are distributed via the trade channels such as builders/plumbers merchants, electrical wholesalers and specialist heating distributors. In addition, there are an increasing number of products sold via the internet either through online retailers or, in the case of boiling water taps, direct via manufacturers websites.

The future performance of the UK water heating market is likely to be influenced by overall trends in house building and construction, RMI activity, fuel prices, energy efficiency legislation, renewable technologies, levels of personal disposable income, patterns of hot water consumption and niche segments such as the self-build market. The Energy related Products (ErP) Directive and other initiatives such as the ECO scheme and the Green Deal will also influence growth to some extent, and the widespread roll-out of smart meters over the next few years will impact on the demand for energy efficient water heating solutions. Current forecasts are based on steady recovery in the economy and on consumer and business confidence levels. By 2019 it is estimated that the UK water heating market will have increased by 6-7% when compared to the estimated market size in 2015.

Table Of Contents

Water Heating Market Report - UK 2015-2019 Analysis
1. INTRODUCTION 6
1.1 BACKGROUND 6
1.2 SOURCES OF INFORMATION 6
2. SUMMARY AND FUTURE PROSPECTS 8
2.1 SUMMARY 8
2.2 KEY TRENDS 9
2.3 FUTURE PROSPECTS 10
3. HOUSING AND ECONOMIC INFLUENCES 12
3.1 GDP 12
3.2 INFLATION and INTEREST RATES 13
3.3 UNEMPLOYMENT 14
3.4 HOUSEHOLD CONSUMPTION 15
3.5 STERLING 16
3.6 POPULATION PROFILE 16
3.7 HOUSING and CONSTRUCTION 17
3.7.1 Non-domestic Construction 17
3.7.2 House Building Completions 19
3.7.3 Mix of Housebuilding Completions 20
3.7.4 House Moving Levels 21
3.7.5 House Prices 22
3.7.6 Self Build 22
3.7.7 Park Homes and Leisure Homes 23
3.8 CONCLUSIONS 23
4. UK OVERALL MARKET FOR WATER HEATING 25
4.1 DEFINITION 25
4.2 MARKET SIZE 25
4.3 SECTOR MIX 26
5. HOT WATER STORAGE SYSTEMS 27
5.1 DEFINITION 27
5.2 MARKET OVERVIEW 28
5.2.1 Market Size by Value 2010 - 2019 28
5.2.2 Market Background 29
5.3 KEY MARKET TRENDS AND INFLUENCES 32
5.3.1 Domestic Ownership 32
5.3.2 Source of Fuel (Mains Gas, Oil, LPG, Electricity) 33
5.3.3 Use of Renewables (Solar, Heat Pumps, Biomass, CHP) 35
5.3.4 Environmental Legislation (Part L, ErP) 36
5.3.5 Grants and Incentives (ECO, Green Deal, RHI, FIT, ECA, CRC) 38
5.4 PRODUCT TRENDS 39
5.4.1 Product Mix 39
5.4.2 Unvented and Vented Systems (capacity >15 litres) 40
5.4.3 Unvented and Vented Systems (capacity 5.5 SUPPLIERS 45
5.5.1 Market Shares 45
5.5.2 Key Suppliers 45
5.5.3 Other Suppliers 47
5.6 DISTRIBUTION 50
5.6.1 Channel Shares (Merchants, Wholesalers, Multiples, Internet) 50
5.6.2 Key Companies 51
5.7 INSTALLATION AND SPECIFICATION 54
5.7.1 New Build 54
5.7.2 Refurbishment 55
6. INSTANTANEOUS WATER HEATERS 56
6.1 DEFINITION 56
6.2 MARKET OVERVIEW 56
6.2.1 Market Size by Value 2010 - 2019 56
6.2.2 Market Background 57
6.3 PRODUCT TRENDS 58
6.3.1 Advantages and Disadvantages 58
6.3.2 Multi-Point Instantaneous 59
6.3.3 Single-Point Instantaneous 61
6.4 SUPPLIERS 62
6.4.1 Market Shares 62
6.4.2 Key Suppliers 63
6.4.3 Other Suppliers 64
6.5 DISTRIBUTION 64
7. BOILING WATER HEATERS AND TAPS 66
7.1 DEFINITION 66
7.2 MARKET OVERVIEW 66
7.2.1 Market Size by Value 2010 - 2019 66
7.2.2 Market Background 67
7.3 PRODUCT TRENDS 68
7.3.1 Boiling Water Heaters 68
7.3.2 Boiling Water Taps 69
7.4 SUPPLIERS 70
7.4.1 Market Shares 70
7.4.2 Key Suppliers 71
7.4.3 Other Suppliers 71
7.5 DISTRIBUTION 72

CHART 1
UK WATER HEATING MARKET BY VALUE (£M MSP) 2010-2019 8
TABLE 2 GDP DATA - 2012-2014 - KEY CONSTITUENT ELEMENTS 12
CHART 3 INTEREST RATES AND INFLATION (CPI) FROM 2000-2019 14
CHART 4 PDI and SAVINGS RATIO AT CURRENT PRICES 2000-2019 15
TABLE 5 EXCHANGE RATE FLUCTUATIONS 2009-2015 - STERLING TO THE DOLLAR, AND THE EURO, SPOT RATES 16
TABLE 6 NON DOMESTIC CONSTRUCTION OUTPUT FIGURES 2010-2019 (£BILLION AT CURRENT PRICES) 17
CHART 7 CONSTRUCTION OUTPUT NEW WORK BY APPLICATION SECTOR 2010-2019 (£ BILLION AT CURRENT PRICES) 18
TABLE 8 HOUSE BUILDING COMPLETIONS 2009-2019 - GREAT BRITAIN (000'S DWELLINGS) 20
CHART 9 HOUSEBUILDING COMPLETIONS IN ENGLAND - % MIX BY TYPE OF DWELLING 2002-2014 21
TABLE 10 UK RESIDENTIAL PROPERTY TRANSACTIONS VALUED AT £40K OR ABOVE 2010-2014 22
CHART 11 UK WATER HEATING MARKET BY VALUE (£M MSP) 2010-2019 25
CHART 12 UK WATER HEATING MARKET PRODUCT MIX (STORAGE, INSTANTANEOUS, BOILING) BY VALUE 2014 AND FORECAST 2019 26
TABLE 13 UK HOT WATER STORAGE MARKET (£M MSP) 2010-2019 29
CHART 14 UK HOUSEHOLDS WITH HOT WATER STORAGE % PENETRATION BY VOLUME (1997, 2005 AND 2014) 32
CHART 15 HOUSEHOLD OWNERSHIP OF HOT WATER STORAGE SYSTEM BY TYPE 1997-2014 (000'S) 33
CHART 16 MARKET MIX BY SOURCE OF FUEL USED (GAS, OIL, OTHER) - BY VOLUME 2014 34
CHART 17 HOT WATER STORAGE MARKET PRODUCT MIX (VENTED, UNVENTED >15L, UNVENTED CHART 18 MARKET MIX BY PRODUCT TYPE (VENTED, UNVENTED) BY VOLUME 2000 AND 2014 41
CHART 19 MARKET MIX BY PRODUCT TYPE (DIRECT AND INDIRECT, VENTED AND UNVENTED) BY VOLUME 2014 42
TABLE 20 HOT WATER STORAGE SUPPLIERS % MARKET SHARES BY VALUE 2014 45
CHART 21 MARKET DISTRIBUTION BY CHANNEL (MERCHANTS, ELECTRICAL WHOLESALERS, INTERNET, OTHER) BY VOLUME 2014 50
TABLE 22 UK INSTANTANEOUS WATER HEATER MARKET (£M MSP) 2010-2019 57
TABLE 23 ADVANTAGES AND DISADVANTAGES OF INSTANTANEOUS WATER HEATERS 59
TABLE 24 INSTANTANEOUS WATER HEATER SUPPLIERS % MARKET SHARES BY VALUE 2014 62
TABLE 25 UK BOILING WATER HEATERS and TAPS MARKET (£M MSP) 2010-2019 66
TABLE 26 BOILING WATER HEATERS and TAPS SUPPLIERS % MARKET SHARES BY VALUE 2014 70

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