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Asia-Pacific water Heater Market, By Type (Electric, Solar, Gas); By Technology (Tankless, Storage, Hybrid); By Capacity (Below 30 Liters, 30–100 Liters, 100–250 Liters, 250–400 Liters, Above 400 Liters); By Application (Residential, Commercial); By Count

Publisher BlueWeave Consulting
Published Jan 19, 2023
Length 119 Pages
SKU # BLWC18215402

Description

Asia-Pacific water Heater Market, By Type (Electric, Solar, Gas); By Technology (Tankless, Storage, Hybrid); By Capacity (Below 30 Liters, 30–100 Liters, 100–250 Liters, 250–400 Liters, Above 400 Liters); By Application (Residential, Commercial); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of APAC); Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Asia-Pacific Water Heater Market Size Expands to Cross USD 13.8 Billion During 2023–2029

Asia-Pacific water heater market is gaining traction because of the improved water heater technology and rising disposable income among consumers in the middle class along with the increasing number of product releases.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific water heater market size at USD 9.6 billion in 2022. During the forecast period between 2023 and 2029, the Asia-Pacific water heater market size is projected to grow at a CAGR of 5.5% reaching a value of USD 13.8 billion by 2029. Major growth factors for Asia-Pacific water heater market include improved water heater technology and rising disposable income among consumers in the middle class. These days, water heaters come with Internet of Things (IoT) sensors that allow for remote smartphone operation. An increasing number of product releases are also providing the entire market with growth opportunities. However, high upfront cost may act as a restraining factor for the market growth.

Asia-Pacific water Heater Market – Overview

Water heaters are devices that heat water and maintain it at a higher temperature for a prolonged period. They serve the crucial goal of providing a consistent and ongoing supply of water. They can be powered by electricity or gas, with gas water heaters offering quicker heating and electric variants often costing less. Hot water heaters used in homes that warm potable water for uses other than space heating are referred to as domestic hot water heaters (DHW). Tankless water heaters are one of the more recent technologies. As they are electric, no water storage system is needed.

Asia-Pacific water Heater Market – By Application

Based on application, the Asia-Pacific water Heater market is segmented into residential and commercial. The residential segment accounts for a higher market share owing to the increasing disposable income of the consumers along with substantial growth in the demand for heating appliances in single and multifamily apartments. Increasing utility costs especially in urban regions are also propelling the demand for energy-efficient appliances, propelling the overall Asia-Pacific water heater market growth. The commercial segment is also expected to register substantial growth during the forecast period.

Impact of COVID-19 on the Asia-Pacific water Heater Market

The Asia-Pacific water heater market registered significant losses during the COVID-19 pandemic in 2020. The production and supply chain for water heaters were completely halted, due to which manufacturers had to endure huge losses during this period. The reduced purchasing power of the consumers along with low demand for water heaters from commercial facilities, such as hotels. However, the demand for water heaters spiked from the healthcare facilities to mitigate the risk of healthcare-associated infections during the virus spread. The market is anticipated to get back on its track as the companies are launching affordable and low-priced water heaters.

Competitive Landscape

Major players operating in the Asia-Pacific water heater market include Rinnai Corporation, Bradford White Corporation, Ariston Holding N.V., Haier, Whirlpool Corporation, State Industries, Racold, FERROLI S.p.A, Hubbell Heaters, LINUO RITTER INTERNATIONAL CO. LTD., Jaquar India, GE Appliances, Viessmann, STIEBEL ELTRON GmbH & Co. KG, Havells India Ltd., Bajaj Electricals Limited, AQUA MAX AUSTRALIA PTY. LIMITED, Deka Fan Malaysia, and Joven Electric Corporation.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific Water Heater Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific Water Heater Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

119 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Asia-Pacific Water Heater Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Increasing Product Customization and Rapid Urbanization
3.2.1.2. Rising Demand for Water Heating Systems
3.2.1.3. Government Requirements for Reducing Emissions of Greenhouse Gases
3.2.2. Restraints
3.2.2.1. Costly Products
3.2.3. Opportunities
3.2.3.1. Technology Advancements
3.2.3.2. Rise in Energy Efficiency Concerns
3.2.4. Challenges
3.2.4.1. Growing Fire Accidents
3.3. Technology Advancement/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Asia-Pacific Water Heater Market
4.1. Market Size & Forecast, 2019–2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Type
4.2.1.1. Electric
4.2.1.2. Solar
4.2.1.3. Gas
4.2.2. By Technology
4.2.2.1. Tankless
4.2.2.2. Storage
4.2.2.3. Hybrid
4.2.3. By Capacity
4.2.3.1. Below 30 Liters
4.2.3.2. 30–100 Liters
4.2.3.3. 100–250 Liters
4.2.3.4. 250–400 Liters
4.2.3.5. Above 400 Liters
4.2.4. By Application
4.2.4.1. Residential
4.2.4.2. Commercial
4.2.4.3. Industrial
4.2.5. By Country
4.2.5.1. China
4.2.5.1.1. By Type
4.2.5.1.2. By Technology
4.2.5.1.3. By Capacity
4.2.5.1.4. By Application
4.2.5.2. India
4.2.5.2.1. By Type
4.2.5.2.2. By Technology
4.2.5.2.3. By Capacity
4.2.5.2.4. By Application
4.2.5.3. Japan
4.2.5.3.1. By Type
4.2.5.3.2. By Technology
4.2.5.3.3. By Capacity
4.2.5.3.4. By Application
4.2.5.4. South Korea
4.2.5.4.1. By Type
4.2.5.4.2. By Technology
4.2.5.4.3. By Capacity
4.2.5.4.4. By Application
4.2.5.5. Australia & New Zealand
4.2.5.5.1. By Type
4.2.5.5.2. By Technology
4.2.5.5.3. By Capacity
4.2.5.5.4. By Application
4.2.5.6. Indonesia
4.2.5.6.1. By Type
4.2.5.6.2. By Technology
4.2.5.6.3. By Capacity
4.2.5.6.4. By Application
4.2.5.7. Malaysia
4.2.5.7.1. By Type
4.2.5.7.2. By Technology
4.2.5.7.3. By Capacity
4.2.5.7.4. By Application
4.2.5.8. Singapore
4.2.5.8.1. By Type
4.2.5.8.2. By Technology
4.2.5.8.3. By Capacity
4.2.5.8.4. By Application
4.2.5.9. Philippines
4.2.5.9.1. By Type
4.2.5.9.2. By Technology
4.2.5.9.3. By Capacity
4.2.5.9.4. By Application
4.2.5.10. Vietnam
4.2.5.10.1. By Type
4.2.5.10.2. By Technology
4.2.5.10.3. By Capacity
4.2.5.10.4. By Application
4.2.5.11. Rest of APAC
4.2.5.11.1. By Type
4.2.5.11.2. By Technology
4.2.5.11.3. By Capacity
4.2.5.11.4. By Application
5. Competitive Landscape
5.1. List of Key Players and Their Offerings
5.2. Asia-Pacific Water Heater Company Market Share Analysis, 2022
5.3. Competitive Benchmarking, By Operating Parameters
5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Asia-Pacific Water Heater Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
7.1. Rinnai Corporation
7.2. Bradford White Corporation
7.3. Ariston Holding N.V.
7.4. Haier
7.5. Whirlpool Corporation
7.6. State Industries
7.7. Racold
7.8. FERROLI S.p.A
7.9. Hubbell Heaters
7.10. LINUO RITTER INTERNATIONAL CO. LTD.
7.11. Jaquar India
7.12. GE Appliances
7.13. Viessmann
7.14. STIEBEL ELTRON GmbH & Co. KG,
7.15. Havells India Ltd.
7.16. Bajaj Electricals Limited
7.17. AQUAMAX AUSTRALIA PTY. LIMITED
7.18. Deka Fan Malaysia
7.19. Joven Electric Corporation
7.20. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
9.1. Qualitative Research
9.1.1. Primary & Secondary Research
9.2. Quantitative Research
9.3. Market Breakdown & Data Triangulation
9.3.1. Secondary Research
9.3.2. Primary Research
9.4. Breakdown of Primary Research Respondents, By Region
9.5. Assumptions & Limitations
*Financial information of case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Asia-Pacific Water Heater Segmentation
Figure 2 Asia-Pacific Water Heater Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Asia-Pacific Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 5 Asia-Pacific Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 6 Asia-Pacific Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 7 Asia-Pacific Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 8 Asia-Pacific Water Heater Market Share, By Application, By Value, 2019–2029
Figure 9 Asia-Pacific Water Heater Market Share, By Country, By Value, 2019–2029
Figure 10 China Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 11 China Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 12 China Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 13 China Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 14 China Water Heater Market Share, By Application, By Value, 2019–2029
Figure 15 India Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 16 India Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 17 India Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 18 India Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 19 India Water Heater Market Share, By Application, By Value, 2019–2029
Figure 20 Japan Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 21 Japan Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 22 Japan Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 23 Japan Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 24 Japan Water Heater Market Share, By Application, By Value, 2019–2029
Figure 25 South Korea Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 26 South Korea Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 27 South Korea Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 28 South Korea Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 29 South Korea Water Heater Market Share, By Application, By Value, 2019–2029
Figure 30 Australia & New Zealand Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 31 Australia & New Zealand Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 32 Australia & New Zealand Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 33 Australia & New Zealand Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 34 Australia & New Zealand Water Heater Market Share, By Application, By Value, 2019–2029
Figure 35 Indonesia Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 36 Indonesia Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 37 Indonesia Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 38 Indonesia Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 39 Indonesia Water Heater Market Share, By Application, By Value, 2019–2029
Figure 40 Malaysia Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 41 Malaysia Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 42 Malaysia Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 43 Malaysia Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 44 Malaysia Water Heater Market Share, By Application, By Value, 2019–2029
Figure 45 Singapore Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 46 Singapore Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 47 Singapore Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 48 Singapore Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 49 Singapore Water Heater Market Share, By Application, By Value, 2019–2029
Figure 50 Philippines Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 51 Philippines Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 52 Philippines Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 53 Philippines Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 54 Philippines Water Heater Market Share, By Application, By Value, 2019–2029
Figure 55 Vietnam Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 56 Vietnam Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 57 Vietnam Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 58 Vietnam Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 59 Vietnam Water Heater Market Share, By Application, By Value, 2019–2029
Figure 60 Rest of APAC Water Heater Market Size, By Value (USD Million), 2019–2029
Figure 61 Rest of APAC Water Heater Market Share, By Service Type, By Value, 2019–2029
Figure 62 Rest of APAC Water Heater Market Share, By Technology, By Value, 2019–2029
Figure 63 Rest of APAC Water Heater Market Share, By Capacity, By Value, 2019–2029
Figure 64 Rest of APAC Water Heater Market Share, By Application, By Value, 2019–2029
List of Tables
Table 1 Asia-Pacific Water Heater Market Size, By Value (USD Million), 2019–2029
Table 2 Asia-Pacific Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 3 Asia-Pacific Water Heater Market Share, By Technology, By Value, 2019–2029
Table 4 Asia-Pacific Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 5 Asia-Pacific Water Heater Market Share, By Application, By Value, 2019–2029
Table 6 Asia-Pacific Water Heater Market Share, By Country, By Value, 2019–2029
Table 7 China Water Heater Market Size, By Value (USD Million), 2019–2029
Table 8 China Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 9 China Water Heater Market Share, By Technology, By Value, 2019–2029
Table 10 China Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 11 China Water Heater Market Share, By Application, By Value, 2019–2029
Table 12 India Water Heater Market Size, By Value (USD Million), 2019–2029
Table 13 India Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 14 India Water Heater Market Share, By Technology, By Value, 2019–2029
Table 15 India Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 16 India Water Heater Market Share, By Application, By Value, 2019–2029
Table 17 Japan Water Heater Market Size, By Value (USD Million), 2019–2029
Table 18 Japan Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 19 Japan Water Heater Market Share, By Technology, By Value, 2019–2029
Table 20 Japan Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 21 Japan Water Heater Market Share, By Application, By Value, 2019–2029
Table 22 South Korea Water Heater Market Size, By Value (USD Million), 2019–2029
Table 23 South Korea Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 24 South Korea Water Heater Market Share, By Technology, By Value, 2019–2029
Table 25 South Korea Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 26 South Korea Water Heater Market Share, By Application, By Value, 2019–2029
Table 27 Australia & New Zealand Water Heater Market Size, By Value (USD Million), 2019–2029
Table 28 Australia & New Zealand Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 29 Australia & New Zealand Water Heater Market Share, By Technology, By Value, 2019–2029
Table 30 Australia & New Zealand Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 31 Australia & New Zealand Water Heater Market Share, By Application, By Value, 2019–2029
Table 32 Indonesia Water Heater Market Size, By Value (USD Million), 2019–2029
Table 33 Indonesia Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 34 Indonesia Water Heater Market Share, By Technology, By Value, 2019–2029
Table 35 Indonesia Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 36 Indonesia Water Heater Market Share, By Application, By Value, 2019–2029
Table 37 Malaysia Water Heater Market Size, By Value (USD Million), 2019–2029
Table 38 Malaysia Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 39 Malaysia Water Heater Market Share, By Technology, By Value, 2019–2029
Table 40 Malaysia Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 41 Malaysia Water Heater Market Share, By Application, By Value, 2019–2029
Table 42 Singapore Water Heater Market Size, By Value (USD Million), 2019–2029
Table 43 Singapore Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 44 Singapore Water Heater Market Share, By Technology, By Value, 2019–2029
Table 45 Singapore Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 46 Singapore Water Heater Market Share, By Application, By Value, 2019–2029
Table 47 Philippines Water Heater Market Size, By Value (USD Million), 2019–2029
Table 48 Philippines Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 49 Philippines Water Heater Market Share, By Technology, By Value, 2019–2029
Table 50 Philippines Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 51 Philippines Water Heater Market Share, By Application, By Value, 2019–2029
Table 52 Vietnam Water Heater Market Size, By Value (USD Million), 2019–2029
Table 53 Vietnam Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 54 Vietnam Water Heater Market Share, By Technology, By Value, 2019–2029
Table 55 Vietnam Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 56 Vietnam Water Heater Market Share, By Application, By Value, 2019–2029
Table 57 Rest of APAC Water Heater Market Size, By Value (USD Million), 2019–2029
Table 58 Rest of APAC Water Heater Market Share, By Service Type, By Value, 2019–2029
Table 59 Rest of APAC Water Heater Market Share, By Technology, By Value, 2019–2029
Table 60 Rest of APAC Water Heater Market Share, By Capacity, By Value, 2019–2029
Table 61 Rest of APAC Water Heater Market Share, By Application, By Value, 2019–2029
Table 62 Rinnai Corporation Company Overview
Table 63 Rinnai Corporation Financial Overview
Table 64 Bradford White Corporation Company Overview
Table 65 Bradford White Corporation Financial Overview
Table 66 Ariston Holding N.V. Company Overview
Table 67 Ariston Holding N.V. Financial Overview
Table 68 Haier, Whirlpool Corporation Company Overview
Table 69 Haier, Whirlpool Corporation Financial Overview
Table 70 State Industries Company Overview
Table 71 State Industries Financial Overview
Table 72 Racold Company Overview
Table 73 Racold Financial Overview
Table 74 FERROLI S.p.A Company Overview
Table 75 FERROLI S.p.A Financial Overview
Table 76 Hubbell Heaters Company Overview
Table 77 Hubbell Heaters Financial Overview
Table 78 LINUO RITTER INTERNATIONAL CO. LTD. Company Overview
Table 79 LINUO RITTER INTERNATIONAL CO. LTD. Financial Overview
Table 80 Jaquar India Company Overview
Table 81 Jaquar India Financial Overview
Table 82 GE Appliances Company Overview
Table 83 GE Appliances Financial Overview
Table 84 Viessmann Company Overview
Table 85 Viessmann Financial Overview
Table 86 STIEBEL ELTRON GmbH & Co. KG, Company Overview
Table 87 STIEBEL ELTRON GmbH & Co. KG, Financial Overview
Table 88 Havells India Ltd. Company Overview
Table 89 Havells India Ltd. Financial Overview
Table 90 Bajaj Electricals Limited Company Overview
Table 91 Bajaj Electricals Limited Financial Overview
Table 92 AQUAMAX AUSTRALIA PTY. LIMITED Company Overview
Table 93 AQUAMAX AUSTRALIA PTY. LIMITED Financial Overview
Table 94 Deka Fan Malaysia Company Overview
Table 95 Deka Fan Malaysia Financial Overview
Table 96 Joven Electric Corporation Company Overview
Table 97 Joven Electric Corporation Financial Overview

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