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Water Heater Market - Global Outlook & Forecast 2024-2029

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    Report

  • 347 Pages
  • June 2024
  • Region: Global
  • Arizton
  • ID: 5978023
1h Free Analyst Time
1h Free Analyst Time

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The Global Water Heater Market was valued at USD 20.93 Billion in 2023, and is expected to reach USD 33.37 Billion by 2029, rising at a CAGR of 8.08%.

MARKET TRENDS & OPPORTUNITIES

Rise of Grid-Interactive Water Heater

Grid-interactive water heaters (GIWHs) are revolutionizing the water heater industry by offering more than just hot water. Equipped with two-way grid communication abilities, GIWHs enable load shifting, making demand for hot water follow renewable energy supply. This flexibility ensures efficient use of zero-carbon electricity and supports grid stability by smoothing out demand peaks and valleys. The water heater market transforms as virtual power plants (VPPs) incorporate GIWHs into their portfolios. These aggregated GIWHs act as a fleet of batteries, absorbing excess energy from the grid to power end uses later in the day.

Rising Demand for the Replacement of Conventional Water Heaters With Advanced Systems

The market for advanced water heating systems is experiencing a significant surge in demand as consumers increasingly seek more efficient and environmentally friendly alternatives to conventional water heaters. This shift is driven by several factors, including growing awareness of energy conservation, stricter regulations on energy efficiency, and the desire for long-term cost savings. Advanced water heating technologies such as heat pump water heaters, solar water heaters, and tankless water heaters offer compelling benefits over traditional systems.

INDUSTRY RESTRAINTS

An Alternative of Water Heater

The water heater industry is vast and diverse, with various options available to consumers depending on their needs and preferences. While traditional electric or gas water heaters are widely used in residential and commercial settings, alternative options such as wood-fired water heaters, immersion rods, and boilers in industries like food and beverage offer different advantages and cater to specific requirements. Wood-fired water heaters have been utilized for centuries, particularly in rural areas where access to electricity or gas may be limited or expensive. These heaters burn wood to heat water, providing a cost-effective and environmentally friendly solution.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The global water heater market by product is segmented into electric, gas & oil, heat pumps, and solar. In 2023, the electric segment emerged as the leading revenue generator in the product segment. This dominance is projected to continue, with a forecasted CAGR of over 8.38%. The key drivers fueling demand within this segment include fluctuating energy prices, stringent government regulations, and the regular replacement cycle for electric equipment. These factors collectively highlight the sustained growth trajectory of the electric segment, reflecting its pivotal role in the market landscape.

Furthermore, the solar water heater segment exhibited the fastest growth in the water heater market during the forecast period. The demand for solar water heaters increases due to Environmental Awareness, government subsidies, energy efficiency regulations, and urbanization. The heightened environmental awareness has led consumers and businesses to seek sustainable alternatives to traditional energy sources. Solar water heaters are a clean and renewable energy solution that perfectly aligns with this trend, driving their adoption. Secondly, government subsidies and incentives aimed at promoting renewable energy adoption have played a pivotal role in bolstering the market for solar water heaters.

Segmentation by Product

  • Electric
  • Gas & Oil
  • Heat Pumps
  • Solar

INSIGHTS BY CATEGORY

The global water heater market by category is segmented into storage and instant. In 2023, the storage segment accounted for the highest share and exhibited a CAGR of more than 7.70% during the forecast period. The demand for storage water heaters is driven by several factors, such as population growth and urbanization, which play a significant role. As urban areas expand and populations increase, the demand for residential and commercial water heating solutions rises accordingly. With their ability to provide hot water on demand, storage water heaters meet the needs of households, businesses, and institutions in densely populated areas. Moreover, lifestyle preferences and comfort standards influence the demand for storage water heaters.

Segmentation by Category

  • Storage
  • Instant

INSIGHTS BY END-USER

The global water heater market by end-user is segmented into residential and commercial. The residential segment has the highest share of the market. Several factors, including changes in housing trends, economic development, and housing permits, drive the demand for water heaters within the residential segment. With rising incomes, more households can afford modern amenities like water heaters, driving demand. Trends such as increased preference for larger homes, multiple bathrooms, or spa-like amenities in bathrooms can lead to greater demand for water heaters capable of meeting higher hot water demands. In colder regions, water heaters may have a higher demand as residents require more hot water for space heating or for maintaining comfortable living conditions during cold weather.

Segmentation by End-User

  • Residential
  • Commercial

INSIGHTS BY DISTRIBUTION CHANNEL

The offline distribution channel segment held the highest global water heater market share in 2023. This growth is attributed to several demand-driving factors. Local marketing initiatives like targeted advertising campaigns and community engagement have raised awareness and captured consumers' attention. Additionally, robust after-sales support services have contributed to customer satisfaction and loyalty, further bolstering offline sales. Moreover, potential buyers can physically inspect the product, assess its quality, and receive personalized assistance from sales representatives. This hands-on experience often instills consumer confidence, leading to higher conversion rates.

Segmentation by Distribution Channel

  • Offline
  • Online

GEOGRAPHICAL ANALYSIS

The demand for water heaters in North America is increasing, primarily driven by a growing emphasis on energy efficiency and the need for replacements. Canada is one of the fastest-growing regions during the forecast period, while the U.S. dominates in revenue share, fueled by technological advancements and the presence of numerous manufacturers. Furthermore, APAC held the largest global water heater market share, accounting for a global revenue share of over 34% in 2023. Across the APAC, increasing disposable incomes and a shift towards sustainability are key drivers. China and India emerged as major contributors to water heater revenue, spurred by rapid urbanization and government subsidies. Population growth, economic expansion, and regulatory factors in Europe propel the water heater industry growth. Latin America is experiencing a surge in demand, particularly due to tourism and hotel construction, with Argentina emerging as the fastest-growing nation thanks to robust economic growth. Lastly, residential construction and infrastructure development are significant drivers of water heater demand in the Middle East and Africa.

Segmentation by Geography

  • APAC
    • China
    • India
    • Japan
    • Philippines
    • South Korea
    • Australia
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
  • North America
    • The U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • South Africa
    • Egypt

COMPETITIVE LANDSCAPE

The global water heater market is characterized by several key factors that influence the dynamics within the industry. Moreover, various types of water heaters are available in the market, including tankless, storage tanks, heat pumps, and solar water heaters, each catering to different consumer needs and preferences. Further, there has been a growing emphasis on energy efficiency and sustainability, leading to increased demand for eco-friendly water heating solutions. This trend has propelled companies to innovate and develop more energy-efficient models, incorporating heat pumps and solar panels to reduce carbon footprint and energy consumption.

Recent Vendor Activities in the Global Water Heater Market

  • In 2023, Eccotemp introduced the SH22 Smart Home Tankless Water Heater Series, pioneering voice command functionality via Alexa & Google, revolutionizing water heating. With the Eccotemp Smart App, users can customize settings, monitor energy usage, and receive maintenance alerts, optimizing efficiency and convenience. The series offers versatile performance, with on-demand hot water for up to three bathrooms, flexible fuel options, and indoor/outdoor installation capabilities. Safety is ensured with CSA certification and a robust warranty feature. Through this, the company increases its product portfolio, driving business growth in the water heater industry.
  • In 2021, A.O. Smith acquired Giant, a Canadian water heater manufacturer, to expand their international presence and increase their profitability in the market.

Key Company Profiles

  • A.O. Smith
  • Haier
  • Midea

Strong Competitors

  • Ariston Thermo
  • Bradford White Corporation
  • Rheem Manufacturing Company
  • Rinnai Corporation

Other Prominent Vendors

  • Apricus Solar
  • Alternate Energy Technologies
  • Bock Water Heaters
  • Bromic Plumbing & Gas
  • Bajaj Electricals
  • BSH Home Appliances
  • Crompton Greaves Consumer Electricals Limited
  • Eccotemp
  • Efficient Technology Sales
  • Electrolux
  • FERROLI S.p.A
  • GROUPE ATLANTIC
  • Guangdong Vanward New Electric
  • Heliodyne
  • Hubbell Water Heaters
  • Havells India
  • Himin Solar
  • Intellihot
  • Jaquar India
  • Jiaxing Jinyi Solar Energy Technology
  • Kingspan
  • Kenmore
  • Lennox International
  • MACRO
  • Navien Inc.
  • Noritz America Corporation
  • Linuo Ritter International
  • Lorenzetti S.A.
  • Orient Electric
  • Robert Bosh
  • RECO
  • Sioux Corporation
  • SunMaxx Solar
  • SunEarth
  • SANDEN International
  • Sakura
  • Stiebel Eltron
  • TekSupply
  • Viessmann Manufacturing Company
  • VENUS HOME APPLIANCES
  • V-GUARD INDUSTRIES
  • Watts Water Technologies
  • Westinghouse Electric Company
  • Whirlpool
  • Wagner Solar
  • Zytech Solar

KEY QUESTIONS ANSWERED

1. How big is the water heater market?
2. What is the growth rate of the global water heater market?
3. What are the significant trends in the water heater industry?
4. Who are the key players in the global water heater market?

Table of Contents

1. Scope & Coverage
1.1. Market Definition
1.1.1. Inclusions
1.1.2. Exclusions
1.1.3. Market Estimation Caveats
1.2. Segments Covered & Definition
1.2.1. Market Segmentation by Category
1.2.2. Market Segmentation by Distribution Channel
1.2.3. Market Segmentation by End-user
1.2.4. Market Segmentation by Product
1.2.5. Regions & Countries Covered
1.3. Market Derivation
1.3.1. Historic, Base, & Forecast Years

2. Premium Insights
2.1. Opportunity Pockets
2.1.1. Market Maturity Indicator
2.1.2. Regional Insights
2.2. Market Definition
2.3. Report Overview
2.4. Opportunities & Challenges Analysis
2.5. Segment Analysis
2.6. Regional Analysis
2.7. Competitive Landscape

3. Market at a Glance
4. Introduction
4.1. Overview
4.1.1. Building Codes
4.1.2. Post-Pandemic Water Heater Market
4.2. Regulatory Compliance
4.2.1. US Department of Energy
4.2.2. International Electrotechnical Commission (IEC)
4.2.3. American National Standards Institute (ANSI)

5. Market Opportunities & Trends
5.1. Rising Popularity of Tankless Water Heaters
5.2. Growing Demand for Smart Water Heaters
5.3. Increased Demand for Hybrid Water Heaters
5.4. Rise of Grid-Interactive Water Heaters

6. Market Growth Enablers
6.1. Technological Advances in Products
6.2. Increasing Construction Activities
6.3. Government Subsidies on Water Heaters
6.4. Rising Demand for Replacement of Conventional Water Heaters with Advanced Systems

7. Market Restraints
7.1. Variation in Gas and Other Fuel Prices
7.2. High Installation Costs
7.3. Alternatives to Water Heaters

8. Market Landscape
8.1. Market Overview
8.2. Demand Insights
8.3. Vendor Analysis
8.4. Market Size & Forecast
8.5. Five Forces Analysis
8.5.1. Threat of New Entrants
8.5.2. Bargaining Power of Suppliers
8.5.3. Bargaining Power of Buyers
8.5.4. Threat of Substitutes
8.5.5. Competitive Rivalry

9. Product
9.1. Market Snapshot & Growth Engine
9.2. Market Overview
9.3. Electric
9.3.1. Market Overview
9.3.2. Market Size & Forecast
9.3.3. Market by Geography
9.4. Gas and Oil
9.4.1. Market Overview
9.4.2. Market Size & Forecast
9.4.3. Market by Geography
9.5. Heat Pumps
9.5.1. Market Overview
9.5.2. Market Size & Forecast
9.5.3. Market by Geography
9.6. Solar
9.6.1. Market Overview
9.6.2. Market Size & Forecast
9.6.3. Market by Geography

10. Category
10.1. Market Snapshot & Growth Engine
10.2. Market Overview
10.3. Storage
10.3.1. Market Overview
10.3.2. Market Size & Forecast
10.3.3. Market by Geography
10.4. Instant
10.4.1. Market Overview
10.4.2. Market Size & Forecast
10.4.3. Market by Geography

11. End-user
11.1. Market Snapshot & Growth Engine
11.2. Market Overview
11.3. Residential
11.3.1. Market Overview
11.3.2. Market Size & Forecast
11.3.3. Market by Geography
11.4. Commercial
11.4.1. Market Overview
11.4.2. Market Size & Forecast
11.4.3. Market by Geography
11.5. Healthcare
11.5.1. Market Overview
11.6. Hospitality
11.6.1. Market Overview
11.7. Others
11.7.1. Market Overview

12. Distribution
12.1. Market Snapshot & Growth Engine
12.2. Market Overview
12.3. Offline
12.3.1. Market Overview
12.3.2. Market Size & Forecast
12.3.3. Market by Geography
12.4. Consumer Electronic Retail Stores
12.4.1. Market Overview
12.5. Departmental Stores
12.5.1. Market Overview
12.6. Specialty Stores
12.6.1. Market Overview
12.7. Others
12.7.1. Market Overview
12.8. Online
12.8.1. Market Overview
12.8.2. Market Size & Forecast
12.8.3. Market by Geography
12.9. Direct Sales
12.9.1. Market Overview
12.10. Third-Party Sales
12.10.1. Market Overview

13. Geography
13.1. Market Snapshot & Growth Engine
13.2. Geographic Overview

14. APAC
14.1. Market Overview
14.2. Market Size & Forecast
14.3. Product Type
14.3.1. Market Size & Forecast
14.4. Category
14.4.1. Market Size & Forecast
14.5. End-user
14.5.1. Market Size & Forecast
14.6. Distribution Channel
14.6.1. Market Size & Forecast
14.7. Key Countries
14.7.1. China: Market Size & Forecast
14.7.2. India: Market Size & Forecast
14.7.3. Japan: Market Size & Forecast
14.7.4. Philippines: Market Size & Forecast
14.7.5. South Korea: Market Size & Forecast
14.7.6. Australia: Market Size & Forecast

15. Europe
15.1. Market Overview
15.2. Market Size & Forecast
15.3. Product Type
15.3.1. Market Size & Forecast
15.4. Category
15.4.1. Market Size & Forecast
15.5. End-user
15.5.1. Market Size & Forecast
15.6. Distribution Channel
15.6.1. Market Size & Forecast
15.7. Key Countries
15.7.1. Germany: Market Size & Forecast
15.7.2. UK: Market Size & Forecast
15.7.3. France: Market Size & Forecast
15.7.4. Italy: Market Size & Forecast
15.7.5. Spain: Market Size & Forecast
15.7.6. Poland: Market Size & Forecast

16. North America
16.1. Market Overview
16.2. Market Size & Forecast
16.3. Product Type
16.3.1. Market Size & Forecast
16.4. Category
16.4.1. Market Size & Forecast
16.5. End-user
16.5.1. Market Size & Forecast
16.6. Distribution Channel
16.6.1. Market Size & Forecast
16.7. Key Countries
16.7.1. US: Market Size & Forecast
16.7.2. Canada: Market Size & Forecast

17. Latin America
17.1. Market Overview
17.2. Market Size & Forecast
17.3. Product Type
17.3.1. Market Size & Forecast
17.4. Category
17.4.1. Market Size & Forecast
17.5. End-user
17.5.1. Market Size & Forecast
17.6. Distribution Channel
17.6.1. Market Size & Forecast
17.7. Key Countries
17.7.1. Brazil: Market Size & Forecast
17.7.2. Mexico: Market Size & Forecast
17.7.3. Argentina: Market Size & Forecast
17.7.4. Chile: Market Size & Forecast

18. Middle East & Africa
18.1. Market Overview
18.2. Market Size & Forecast
18.3. Product Type
18.3.1. Market Size & Forecast
18.4. Category
18.4.1. Market Size & Forecast
18.5. End-user
18.5.1. Market Size & Forecast
18.6. Distribution Channel
18.6.1. Market Size & Forecast
18.7. Key Countries
18.7.1. Saudi Arabia: Market Size & Forecast
18.7.2. UAE: Market Size & Forecast
18.7.3. South Africa: Market Size & Forecast

19. Competitive Landscape
19.1. Competition Overview
19.2. Market Share Analysis
19.3. Key Players
19.3.1. Ariston Group
19.3.1.1. Business Overview
19.3.1.2. Key Strengths
19.3.1.3. Key Strategies
19.3.1.4. Key Opportunities
19.3.1.5. Key Risks
19.3.2. Rheem Manufacturing
19.3.2.1. Business Overview
19.3.2.2. Key Strengths
19.3.2.3. Key Strategies
19.3.2.4. Key Opportunities
19.3.2.5. Key Risks
19.3.3. A.O. Smith Corporation
19.3.3.1. Business Overview
19.3.3.2. Key Strengths
19.3.3.3. Key Strategies
19.3.3.4. Key Opportunities
19.3.3.5. Key Risks
19.3.4. Haier Group
19.3.4.1. Business Overview
19.3.4.2. Key Strengths
19.3.4.3. Key Strategies
19.3.4.4. Key Opportunities
19.3.4.5. Key Risks
19.3.5. Siemens
19.3.5.1. Business Overview
19.3.5.2. Key Strengths
19.3.5.3. Key Strategies
19.3.5.4. Key Opportunities
19.3.5.5. Key Risks

20. Key Company Profiles
20.1. Detailed Company Profiles
20.2. Ariston Group
20.2.1. Overview
20.2.2. Market Size & Forecast
20.2.3. Product
20.2.4. Category
20.2.5. End-user
20.2.6. Distribution Channel
20.2.7. Geography
20.3. Rheem Manufacturing
20.3.1. Overview
20.3.2. Market Size & Forecast
20.3.3. Product
20.3.4. Category
20.3.5. End-user
20.3.6. Distribution Channel
20.3.7. Geography
20.4. A.O. Smith Corporation
20.4.1. Overview
20.4.2. Market Size & Forecast
20.4.3. Product
20.4.4. Category
20.4.5. End-user
20.4.6. Distribution Channel
20.4.7. Geography
20.5. Haier Group
20.5.1. Overview
20.5.2. Market Size & Forecast
20.5.3. Product
20.5.4. Category
20.5.5. End-user
20.5.6. Distribution Channel
20.5.7. Geography
20.6. Siemens
20.6.1. Overview
20.6.2. Market Size & Forecast
20.6.3. Product
20.6.4. Category
20.6.5. End-user
20.6.6. Distribution Channel
20.6.7. Geography

List of Exhibits
Exhibit 1 Market Size Calculation Approach (2023)
Exhibit 2 Key Regional Incremental Growth
Exhibit 3 Global Top Exporters of Instantaneous Gas Water Heaters2021 (Million)
Exhibit 4 Impact of Rising Popularity of Tankless Water Heaters
Exhibit 5 Impact of Growing Demand for Smart Water Heaters
Exhibit 6 Benefits of Smart Water Heater
Exhibit 7 Impact of Increased Demand for Hybrid Water Heaters
Exhibit 8 Impact of Rise of Grid Interactive Water Heater
Exhibit 9 Impact of Technological Advances Products
Exhibit 10 Impact of Increasing Construction Activities
Exhibit 11 UK Number of Dwellings Completed January to March (2023)
Exhibit 12 Hotel Construction in Europe and APAC
Exhibit 13 Impact of Government Subsidies on Water Heater
Exhibit 14 Impact of Rising Demand for Replacement of Conventional Water Heaters with Advanced Systems
Exhibit 15 Impact of Variation of Gas and Other Fuel Prices
Exhibit 16 US Fluctuation of Gasoline Price 2022 ($ Per Gallon)
Exhibit 17 Impact of High Installation Cost
Exhibit 18 Impact of Alternative Water Heater
Exhibit 19 Factors Driving Demand for Water Heater
Exhibit 20 Global Water Heater Market CAGR 2023-2029 (%)
Exhibit 21 Global Water Heater Market 2023-2029 ($Billion)
Exhibit 22 Five Forces Analysis (2023)
Exhibit 23 Incremental Growth by Product (2023 & 2029)
Exhibit 24 Global Water Heater Market by Product 2023 and 2029 (Market Share %)
Exhibit 25 Key Insights of Electric Water Heater
Exhibit 26 Global Electric Water Heater Market 2020-2029 ($ Billion)
Exhibit 27 Global Gas and Oil Water Heater Market 2020-2029 ($ Billion)
Exhibit 28 Key Manufactures of Heat Pump Water Heater
Exhibit 29 Global Heat Pump Water Heater Market 2020-2029 ($ Billion)
Exhibit 30 Global Solar Water Heater Market 2020-2029 ($ Billion)
Exhibit 31 Incremental Growth by Category (2023 & 2029)
Exhibit 32 Global Water Heater Market by Category 2023 and 2029 (Market Share %)
Exhibit 33 Global Storage Water Heater Market 2020-2029 ($ Billion)
Exhibit 34 Global Instant Water Heater Market 2020-2029 ($ Billion)
Exhibit 35 Incremental Growth by End-user (2023 & 2029)
Exhibit 36 Global Water Heater Market by End-user 2023 and 2029 (Market Share %)
Exhibit 37 Global Population in 2030 2050 and 2100 (Billion)
Exhibit 38 US and France Residential Buildings and Dwellings Permits (Million)
Exhibit 39 Global Residential Water Heater Market 2020-2029 ($ Billion)
Exhibit 40 Global Commercial Water Heater Market 2020-2029 ($ Billion)
Exhibit 41 Key Insights of Tourism Industry
Exhibit 42 Incremental Growth by Distribution Channel (2023 & 2029)
Exhibit 43 Global Water Heater Market by Distribution Channel 2023 and 2029 (Market Share %)
Exhibit 44 Global Water Heater by Offline Stores Distribution
Exhibit 45 Global Offline Water Heater Market 2020-2029 ($ Billion)
Exhibit 46 Wholesaler Distribution Channel of Water Heater
Exhibit 47 Global Online Water Heaters Market 2020-2029 ($ Billion)
Exhibit 48 Incremental Growth by Geography (2023 & 2029)
Exhibit 49 Water Heater Market in APAC 2020-2029 ($ Billion)
Exhibit 50 Incremental Growth in APAC (2023 & 2029)
Exhibit 51 Building Permit in Taiwan February to December 2023 (Thousands of Units)
Exhibit 52 Water Heater Market in China 2020-2029 ($ Billion)
Exhibit 53 Export of Water Heaters to Various Countries in 2021(Thousands of Units)
Exhibit 54 Key Facts: Economic Development India
Exhibit 55 Water Heater Market in India 2020-2029 ($ Billion)
Exhibit 56 Water Heater Market in Japan 2020-2029 ($ Billion)
Exhibit 57 Construction of Approved Building Permits by Regions in 2022 (Thousands of Units)
Exhibit 58 Water Heater Market in Philippines 2020-2029 ($ Billion)
Exhibit 59 Permits Issued for Dwellings and Residential Constructions in Korea from 2018-2022 (Billion Units)
Exhibit 60 Water Heater Market in South Korea 2020-2029 ($ Billion)
Exhibit 61 Australia Dwelling Permits February to December 2023 (Thousands of Units)
Exhibit 62 Water Heater Market in Australia 2020-2029 ($ Billion)
Exhibit 63 Construction Projects in Russia: (2022)
Exhibit 64 Water Heater Market in Europe 2020-2029 ($ Billion)
Exhibit 65 Incremental Growth in Europe (2023 & 2029)
Exhibit 66 Water Heater Market in Germany 2020-2029 ($ Billion)
Exhibit 67 UK Water Heater Market 2020-2029 ($ Billion)
Exhibit 68 Housing Permit in France February to December 2023 (Thousand Units)
Exhibit 69 Water Heater Market in France 2020-2029 ($ Billion)
Exhibit 70 Key Insights of Hospitality Industry in Italy
Exhibit 71 Water Heater Market in Italy 2020-2029 ($ Billion)
Exhibit 72 Number of Dwellings and Residential Buildings in Spain 2018-2022 (Units)
Exhibit 73 Water Heater Market in Spain 2020-2029 ($ Billion)
Exhibit 74 Overall Hotel Industry in Poland
Exhibit 75 Total Dwellings and Residential Building Construction in Poland 2018-2022 (Million Units)
Exhibit 76 Water Heater Market in Poland 2020-2029 ($ Billion)
Exhibit 77 Water Heater Market in North America 2020-2029 ($ Billion)
Exhibit 78 Incremental Growth in North America (2023 & 2029)
Exhibit 79 US Residential Housing Permits January to November 2023 (Thousands of Units)
Exhibit 80 US Commercial Gas and Electric Storage Water Heater Shipments July 2021, 2022, & 2023
Exhibit 81 Average Hot Water Usage by Americans in Hotels by Number of Rooms 2023 (GPM)
Exhibit 82 US Water Heater Market 2020-2029 ($ Billion)
Exhibit 83 Number of Dwellings and Residential Buildings Construction 2017-2022 (Thousands of Units)
Exhibit 84 Water Heater Market in Canada 2020-2029 ($ Billion)
Exhibit 85 Water Heater Market in Latin America 2020-2029 ($ Billion)
Exhibit 86 Incremental Growth in Latin America (2023 & 2029)
Exhibit 87 Water Heater Market in Brazil 2020-2029 ($ Billion)
Exhibit 88 Water Heater Market in Mexico 2020-2029 ($ Billion)
Exhibit 89 Overall Construction Industry in Argentina
Exhibit 90 Water Heater Market in Argentina 2020-2029 ($ Billion)
Exhibit 91 Housing Permits in Chile 2023 (Thousands of Units)
Exhibit 92 Water Heater Market in Chile 2020-2029 ($ Billion)
Exhibit 93 Key Insights: Overall Middle East & Africa
Exhibit 94 Water Heater Market in Middle East and Africa 2020-2029 ($ Billion)
Exhibit 95 Incremental Growth in Middle East & Africa (2023 & 2029)
Exhibit 96 Turkey Dwellings Permits January to March 2023 (Thousands of Units)
Exhibit 97 Water Heater Market in Turkey 2020-2029 ($ Billion)
Exhibit 98 Water Heater Market in Saudi Arabia 2020-2029 ($ Billion)
Exhibit 99 Application Areas of Total Installed Collector (2021)
Exhibit 100 Water Heater Market in South Africa 2020-2029 ($ Billion)
Exhibit 101 Water Heater Market in Egypt 2020-2029 ($ Billion)
Exhibit 102 Key Vendors Analysis
Exhibit 103 Key Caveats
List of Tables
Table 1 Key Manufacturers of Tankless Water Heater with Innovative Features
Table 2 Comparison of Tank and Tankless Water Heater Technologies
Table 3 Key Vendors of Smart Water Heater
Table 4 Key Manufacturers of Hybrid Water Heater
Table 5 Key Manufacturer of Grid Enabled Water Heater
Table 6 Companies Launching New Products with Innovative Features
Table 7 Installation Cost of Water Heater by Type
Table 8 Average Cost of Water Heater by Tank Size
Table 9 Key Manufacturers of Electric Water Heaters
Table 10 Global Electric Water Heater Market by Geography 2023-2029 ($ Billion)
Table 11 Key Manufacturers of Gas and Oil Water Heater
Table 12 Global Gas and Oil Water Heater Market by Geography 2023-2029 ($ Billion)
Table 13 Global Heat Pump Water Heater Market by Geography 2023-2029 ($ Billion)
Table 14 Key Manufactures of Solar Water Heater
Table 15 Global Solar Water Heater Market by Geography 2023-2029 ($ Billion)
Table 16 Key Manufacturers of Storage Water Heaters
Table 17 Global Storage Water Heater Market by Geography 2023-2029 ($ Billion)
Table 18 Key Manufacturers of Instant Water Heaters
Table 19 Global Instant Water Heater Market by Geography 2023-2029 ($ Billion)
Table 20 Global Residential Water Heater Market by Geography 2023-2029 ($ Billion)
Table 21 Key Manufacturers of Commercial Water Heaters
Table 22 Global Commercial Water Heater Market by Geography 2023-2029 ($ Billion)
Table 23 Number of Hospitals by Countries
Table 24 Number of Schools by Countries
Table 25 Global Offline Water Heater Market by Geography 2023-2029 ($ Billion)
Table 26 Global Online Water Heaters Market by Geography 2023-2029 ($ Billion)
Table 27 APAC Water Heater Market by Product 2023-2029 ($ Billion)
Table 28 APAC Water Heater Market by Category 2023-2029 ($ Billion)
Table 29 APAC Water Heater Market by End-user 2023-2029 ($ Billion)
Table 30 APAC Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 31 Europe Water Heater Market by Product 2023-2029 ($ Billion)
Table 32 Europe Water Heater Market by Category 2023-2029 ($ Billion)
Table 33 Europe Water Heater Market by End-user 2023-2029 ($ Billion)
Table 34 Europe Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 35 Projected Hotel Openings Per City (2024)
Table 36 UK Number of Hospitals by Region
Table 37 Government Heat Pump Grants
Table 38 North America Water Heater Market by Product 2023-2029 ($ Billion)
Table 39 North America Water Heater Market by Category 2023-2029 ($ Billion)
Table 40 North America Water Heater Market by End-user 2023-2029 ($ Billion)
Table 41 North America Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 42 Latin America Water Heater Market by Product 2023-2029 ($ Billion)
Table 43 Latin America Water Heater Market by Category 2023-2029 ($ Billion)
Table 44 Latin America Water Heater Market by End-user 2023-2029 ($ Billion)
Table 45 Latin America Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 46 Middle East & Africa Water Heater Market by Product 2023-2029 ($ Billion)
Table 47 Middle East & Africa Water Heater Market by Category 2023-2029 ($ Billion)
Table 48 Middle East & Africa Water Heater Market by End-user 2023-2029 ($ Billion)
Table 49 Middle East & Africa Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 50 A.O. Smith: Major Product/Service Offerings
Table 51 Haier: Major Product Offerings
Table 52 Midea: Major Product Offerings
Table 53 Ariston Thermo: Major Product Offerings
Table 54 Bradford White Corporation: Major Product/Service Offerings
Table 55 Rheem Manufacturing Company: Major Product/Service Offerings
Table 56 Rinnai Corporation: Major Product Offerings
Table 57 Apricus Solar: Major Product Offerings
Table 58 Alternate Energy Technologies: Major Product Offerings
Table 59 Bock Water Heaters: Major Product Offerings
Table 60 Bromic Plumbing & Gas: Major Product Offerings
Table 61 Bajaj Electricals: Major Product Offerings
Table 62 Crompton Greaves Consumer Electricals Limited: Major Product Offerings
Table 63 Eccotemp: Major Product Offerings
Table 64 Efficient Technology Sales: Major Product Offerings
Table 65 Electrolux Professional: Major Product Offerings
Table 66 Ferroli S.P.A: Major Product Offerings
Table 67 Groupe Atlantic: Major Product Offerings
Table 68 Guangdong Vanward New Electric: Major Product Offerings
Table 69 General Electric: Major Product Offerings
Table 70 Heliodyne: Major Product Offerings
Table 71 Hubbell Water Heaters: Major Product Offerings
Table 72 Havells India: Major Product Offerings
Table 73 Himin Solar.: Major Product Offerings
Table 74 Intellihot: Major Product Offerings
Table 75 Jaquar India: Major Product Offerings
Table 76 Jiaxing Jinyi Solar Energy Technology: Major Product Offerings
Table 77 Kingspan: Major Product Offerings
Table 78 Kenmore: Major Product Offerings
Table 79 Lennox International: Major Product Offerings
Table 80 Macro: Major Product/Service Offerings
Table 81 Navien: Major Product Offerings
Table 82 Noritz America Corporation: Major Product Offerings
Table 83 Linuo Ritter International: Major Product Offerings
Table 84 Lorenzetti SA: Major Product Offerings
Table 85 Orient Electric: Major Product Offerings
Table 86 Robert Bosh: Major Product Offerings
Table 87 Reco: Major Product Offerings
Table 88 Sioux Corporation: Major Product Offerings
Table 89 Sunmaxx Solar: Major Product Offerings
Table 90 Sunearth: Major Product Offerings
Table 91 Sanden International: Major Product Offerings
Table 92 Sakura: Major Product/Service Offerings
Table 93 Stiebel Eltron: Major Product Offerings
Table 94 Teksupply: Major Product Offerings
Table 95 Viessmann Manufacturing Company Inc.: Major Product Offerings
Table 96 Venus Home Appliances: Major Product Offerings
Table 97 V-Guard Industries: Major Product Offerings
Table 98 Watts Water Technologies: Major Product Offerings
Table 99 Westinghouse Electric Company: Major Product Offerings
Table 100 Whirlpool: Major Product Offerings
Table 101 Wagner Solar: Major Product Offerings
Table 102 Zytech Solar: Major Product Offerings
Table 103 Global Water Heater Market by Geography 2023-2029 ($ Billion)
Table 104 Global Water Heater Market by Geography 2023-2029 (%)
Table 105 Global Water Heater Market by Product 2023-2029 ($ Billion)
Table 106 Global Water Heater Market by Category 2023-2029 ($ Billion)
Table 107 Global Water Heater Market by End-user 2023-2029 ($ Billion)
Table 108 Global Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 109 APAC Water Heater Market by Product 2023-2029 ($ Billion)
Table 110 APAC Water Heater Market by Category 2023-2029 ($ Billion)
Table 111 APAC Water Heater Market by End-user 2023-2029 ($ Billion)
Table 112 APAC Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 113 Europe Water Heater Market by Product 2023-2029 ($ Billion)
Table 114 Europe Water Heater Market by Category 2023-2029 ($ Billion)
Table 115 Europe Water Heater Market by End-user 2023-2029 ($ Billion)
Table 116 Europe Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 117 North America Water Heater Market by Product 2023-2029 ($ Billion)
Table 118 North America Water Heater Market by Category 2023-2029 ($ Billion)
Table 119 North America Water Heater Market by End-user 2023-2029 ($ Billion)
Table 120 North America Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 121 Latin America Water Heater Market by Product 2023-2029 ($ Billion)
Table 122 Latin America Water Heater Market by Category 2023-2029 ($ Billion)
Table 123 Latin America Water Heater Market by End-user 2023-2029 ($ Billion)
Table 124 Latin America Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 125 Middle East & Africa Water Heater Market by Product 2023-2029 ($ Billion)
Table 126 Middle East & Africa Water Heater Market by Category 2023-2029 ($ Billion)
Table 127 Middle East & Africa Water Heater Market by End-user 2023-2029 ($ Billion)
Table 128 Middle East & Africa Water Heater Market by Distribution Channel 2023-2029 ($ Billion)
Table 129 Currency Conversion (2017-2023)

Companies Mentioned

  • A.O. Smith
  • Haier
  • Midea
  • Ariston Thermo
  • Bradford White Corporation
  • Rheem Manufacturing Company
  • Rinnai Corporation
  • Apricus Solar
  • Alternate Energy Technologies
  • Bock Water Heaters
  • Bromic Plumbing & Gas
  • Bajaj Electricals
  • BSH Home Appliances
  • Crompton Greaves Consumer Electricals Limited
  • Eccotemp
  • Efficient Technology Sales
  • Electrolux
  • FERROLI S.p.A
  • GROUPE ATLANTIC
  • Guangdong Vanward New Electric
  • Heliodyne
  • Hubbell Water Heaters
  • Havells India
  • Himin Solar
  • Intellihot
  • Jaquar India
  • Jiaxing Jinyi Solar Energy Technology
  • Kingspan
  • Kenmore
  • Lennox International
  • MACRO
  • Navien Inc.
  • Noritz America Corporation
  • Linuo Ritter International
  • Lorenzetti S.A.
  • Orient Electric
  • Robert Bosh
  • RECO
  • Sioux Corporation
  • SunMaxx Solar
  • SunEarth
  • SANDEN International
  • Sakura
  • Stiebel Eltron
  • TekSupply
  • Viessmann Manufacturing Company
  • VENUS HOME APPLIANCES
  • V-GUARD INDUSTRIES
  • Watts Water Technologies
  • Westinghouse Electric Company
  • Whirlpool
  • Wagner Solar
  • Zytech Solar

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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