The global water heater market is influenced by factors such as economic conditions, consumer preferences, energy policies, technological advancements, and regulatory environment. The market is expected to continue to grow owing to increasing demand for hot water in the residential, commercial, and industrial sectors and growing demand for energy-efficient and sustainable solutions. The global water heater market is highly competitive, with multiple major players and numerous regional and local manufacturers. The market is characterized by a wide range of products such as storage water heaters, non-water heaters, solar water heaters, and heat pump water heaters.
Market Dynamics:
Increased demand for hot water technological advancements, increasing adoption of renewable energy sources, fluctuating energy prices, government regulations and policies, infrastructure development, competitive landscape, These dynamic factors collectively shape the global water heater market, presenting both opportunities and challenges for manufacturers, consumers, and other industry players.
Key features of the study:
- This report provides in-depth analysis of the global water heater market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global water heater market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include A. O. Smith Corporation, Zhongshan Inse Group Co, Ltd., Haier Electronics Group Co., Ltd.Himin Solar Co., Ltd., Ariston Thermo Group, Genrui, Bajaj Electricals Ltd., Rheem Manufacturing Company, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Noritz Corporation, SIEMENS AG, Bradford White Corp., Venus Home Appliances (P) Ltd., Havells, and Others
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global water heater market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global water heater market
- Global Water Heater Market, By Product Type:
- Storage Water Heaters
- Tankless Water Heaters
- Hybrid Water Heaters
- Others
- Global Water Heater Market, By Type:
- Electric Water Heater
- Solar Water Heater
- Gas Water Heater
- Global Water Heater Market, By Application:
- Residential
- Industrial
- Commercial
- Global Water Heater Market, By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
- Company Profiles:
- O. Smith Corporation
- Zhongshan Inse Group Co, Ltd.
- Haier Electronics Group Co., Ltd.
- Himin Solar Co., Ltd.
- Ariston Thermo Group
- Genrui
- Bajaj Electricals Ltd.,
- Rheem Manufacturing Company,
- Jiaxing Jinyi Solar Energy Technology Co, Ltd.
- Noritz Corporation
- SIEMENS AG
- Bradford White Corp.,
- Venus Home Appliances (P) Ltd
- Havells
- 1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- 2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product Type
- Market Snapshot, By Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
- 3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- High growth construction and manufacturing industry is expected to drive the growth of the global water heater market during the forecast period
- Growing urbanization across the world is expected to propel the global water heater market growth over the forecast period
- Restraints
- Constant struggle to meet quality and energy efficiency standards is expected to restrain growth of the global water heater market during the forecast period
- Limited availability of specific fuels, low awareness among the populace, installation challenges, and cost limitations
- Opportunities
- Use of renewable energy instead of conventional fuel source is expected to pose lucrative growth opportunities
- Advancement in existing technologies is expected to offer significant opportunity for market players
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- 4. Global Water Heater Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- 5. Global Water Heater Market, By Product Type, 2020-2032, (US$ Billion)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Storage Water Heaters
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Tankless Water Heater
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Hybrid Water Heaters
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- 6. Global Water Heater Market, By Type, 2020-2032, (US$ Billion)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Electric Water Heater
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Solar Water Heater
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Gas Water Heater
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- 7. Global Water Heater Market, By Application, 2020-2032, (US$ Billion)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
- 8. Global Water Heater Market, By Region, 2020-2032, (US$ Billion)
- Introduction
- Market Share Analysis, By Country, 2023and 2032 (%)
- Y-o-Y Growth Analysis, For Country 2021–2032
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Billion)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Billion)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Billion)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Billion)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Billion)
- Market Size and Forecast, and Y-o-Y Growth, By Country 2020-2032,(US$ Billion)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- 9. Competitive Landscape
- O. Smith Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Zhongshan Inse Group Co, Ltd.
- Haier Electronics Group Co, Ltd.
- Himin Solar Co., Ltd.
- Ariston Thermo Group
- Genrui
- Bajaj Electricals Ltd.
- Rheem Manufacturing Company
- Jiaxing Jinyi Solar Energy Technology Co, Ltd
- Noritz Corporation
- SIEMENS AG
- Bradford White Corp.
- Venus Home Appliances (P) Ltd.
- Havells
- 10. Section
- Research Methodology
- About us
- *Browse 24 market data tables and 28 figures on “Global Water Heater Market” - Global forecast 2025 to 2032
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