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Water Heater Market Size, Share & Trends Analysis Report By Product (Electric, Gas, Solar), By Application (Residential, Commercial, Industrial), By Technology (Tankless, Hybrid), By Capacity (Below 30 Liters), By Region, And Segment Forecasts, 2025 - 203

Published Aug 18, 2025
Length 100 Pages
SKU # GV20400212

Description

Water Heater Market Summary

The global water heater market size was estimated at USD 30,485.9 million in 2024 and is projected to reach USD 46,338.2 million by 2033, growing at a CAGR of 4.8% from 2025 to 2033. The growing focus on reducing energy consumption is pushing consumers toward high-efficiency water heaters. Governments worldwide are offering incentives for energy-saving home appliances.

Advanced technologies like heat pumps and solar water heaters are gaining popularity. This shift is significantly driving market expansion. Rapid urbanization and infrastructure development, especially in the Asia Pacific and Africa, are fueling the demand for water heaters.

Increasing residential and commercial construction projects require reliable hot water solutions. Rising disposable incomes are also boosting consumer spending on modern appliances. These trends are accelerating the growth of the global water heater industry.

Global Water Heater Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global water heater market report based on capacity, product, technology, application, and region:
  • Capacity Outlook (Revenue, USD Million, 2021 - 2033)
  • Below 30 Liters
  • 30 - 100 Liters
  • 100 - 250 Liters
  • 250 - 400 Liters
  • Above 400 Liters
  • Product Outlook (Revenue, USD Million, 2021 - 2033)
  • Electric
  • Solar
  • Gas
  • Technology Outlook (Revenue, USD Million, 2021 - 2033)
  • Tankless
  • Storage
  • Hybrid
  • Application Outlook (Revenue, USD Million, 2021 - 2033)
  • Residential
  • Commercial
  • Industrial
  • Regional Outlook (Revenue, USD Million, 2021 - 2033)
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • UK
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Latin America
  • Brazil
  • Argentina
  • Middle East and Africa
  • Saudi Arabia
  • UAE
Please note The report will be delivered in 4-8 business days upon order notification.

Table of Contents

100 Pages
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Water Heater Market Variables, Trends & Scope
3.1. Market Concentration & Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.2.1. Raw Material/Component Outlook
3.2.2. Manufacturer Outlook
3.2.3. Distribution Outlook
3.2.4. Application Outlook
3.3. Regulatory Framework
3.4. Technology Overview
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Challenges Analysis
3.5.4. Market Opportunity Analysis
3.6. Economic Mega-Trend Analysis
3.7. Industry Analysis Tools
3.7.1. Porter’s Five Forces Analysis
3.7.2. Macro-environmental Analysis
Chapter 4. Water Heater Market: Capacity Estimates & Trend Analysis
4.1. Capacity Movement Analysis & Market Share, 2024 & 2033
4.2. Water Heater Market Estimates & Forecast, By Capacity, 2021 to 2033 (USD Million)
4.3. Below 30 Liters
4.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4. 30 - 100 Liters
4.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5. 100 - 250 Liters
4.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.6. 250 - 400 Liters
4.6.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.7. Above 400 Liters
4.7.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. Water Heater Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2024 & 2033
5.2. Water Heater Market Estimates & Forecast, By Product, 2021 to 2033 (USD Million)
5.3. Electric
5.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4. Solar
5.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5. Gas
5.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. Water Heater Market: Technology Estimates & Trend Analysis
6.1. Technology Movement Analysis & Market Share, 2024 & 2033
6.2. Water Heater Market Estimates & Forecast, By Technology, 2021 to 2033 (USD Million)
6.3. Tankless
6.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.4. Storage
6.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.5. Hybrid
6.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Water Heater Market: Application Estimates & Trend Analysis
7.1. Application Movement Analysis & Market Share, 2024 & 2033
7.2. Water Heater Market Estimates & Forecast, By Application, 2021 to 2033 (USD Million)
7.3. Residential
7.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4. Commercial
7.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
7.5. Industrial
7.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 8. Water Heater Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2024 & 2033
8.2. North America
8.2.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.2.2. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.2.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.2.4. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.2.5. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.2.6. U.S.
8.2.6.1. Key country dynamics
8.2.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.2.6.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.2.6.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.2.6.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.2.6.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.2.7. Canada
8.2.7.1. Key country dynamics
8.2.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.2.7.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.2.7.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.2.7.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.2.7.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.2.8. Mexico
8.2.8.1. Key country dynamics
8.2.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.2.8.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.2.8.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.2.8.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.2.8.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.3. Europe
8.3.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.3.2. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.3.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.3.4. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.3.5. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.3.6. Germany
8.3.6.1. Key country dynamics
8.3.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.3.6.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.3.6.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.3.6.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.3.6.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.3.7. France
8.3.7.1. Key country dynamics
8.3.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.3.7.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.3.7.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.3.7.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.3.7.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.3.8. UK
8.3.8.1. Key country dynamics
8.3.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.3.8.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.3.8.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.3.8.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.3.8.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.3.9. Italy
8.3.9.1. Key country dynamics
8.3.9.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.3.9.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.3.9.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.3.9.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.3.9.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.4. Asia Pacific
8.4.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.4.2. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.4.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.4.4. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.4.5. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.4.6. China
8.4.6.1. Key country dynamics
8.4.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.4.6.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.4.6.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.4.6.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.4.6.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.4.7. India
8.4.7.1. Key country dynamics
8.4.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.4.7.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.4.7.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.4.7.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.4.7.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.4.8. Japan
8.4.8.1. Key country dynamics
8.4.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.4.8.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.4.8.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.4.8.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.4.8.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.4.9. Australia
8.4.9.1. Key country dynamics
8.4.9.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.4.9.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.4.9.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.4.9.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.4.9.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.5. Latin America
8.5.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.5.2. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.5.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.5.4. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.5.5. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.5.6. Brazil
8.5.6.1. Key country dynamics
8.5.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.5.6.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.5.6.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.5.6.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.5.6.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.5.7. Argentina
8.5.7.1. Key country dynamics
8.5.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.5.7.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.5.7.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.5.7.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.5.7.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.6. Middle East & Africa
8.6.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.6.2. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.6.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.6.4. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.6.5. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.6.6. Saudi Arabia
8.6.6.1. Key country dynamics
8.6.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.6.6.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.6.6.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.6.6.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.6.6.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
8.6.7. UAE
8.6.7.1. Key country dynamics
8.6.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
8.6.7.3. Market estimates & forecast, by capacity, 2021 - 2033 (USD Million)
8.6.7.4. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
8.6.7.5. Market estimates & forecast, by technology, 2021 - 2033 (USD Million)
8.6.7.6. Market estimates & forecast, by application, 2021 - 2033 (USD Million)
Chapter 9. Water Heater Market - Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Company Categorization
9.3. Company Dashboard Analysis
9.4. Vendor Landscape
9.4.1. List of Key Raw Material/Component Providers
9.4.2. List of Key Manufacturers
9.4.3. List of Key Distributors
9.5. Company Market Share Analysis, 2024
9.6. Company Positioning Analysis, 2024
9.7. Company Heat Map Analysis, 2024
9.8. Strategy Mapping
9.9. Company Profiles
9.9.1. A.O. Smith
9.9.1.1. Participant’s overview
9.9.1.2. Financial performance
9.9.1.3. Product benchmarking
9.9.1.4. Recent developments
9.9.2. Bosch Thermotechnology Corp.
9.9.2.1. Participant’s overview
9.9.2.2. Financial performance
9.9.2.3. Product benchmarking
9.9.2.4. Recent developments
9.9.3. Ariston Holding N.V.
9.9.3.1. Participant’s overview
9.9.3.2. Financial performance
9.9.3.3. Product benchmarking
9.9.3.4. Recent developments
9.9.4. Rheem Manufacturing Company.
9.9.4.1. Participant’s overview
9.9.4.2. Financial performance
9.9.4.3. Product benchmarking
9.9.4.4. Recent developments
9.9.5. Rinnai America Corporation.
9.9.5.1. Participant’s overview
9.9.5.2. Financial performance
9.9.5.3. Product benchmarking
9.9.5.4. Recent developments
9.9.6. Bradford White Corporation, USA.
9.9.6.1. Participant’s overview
9.9.6.2. Financial performance
9.9.6.3. Product benchmarking
9.9.6.4. Recent developments
9.9.7. Noritz America Corp
9.9.7.1. Participant’s overview
9.9.7.2. Financial performance
9.9.7.3. Product benchmarking
9.9.7.4. Recent developments
9.9.8. Whirlpool.
9.9.8.1. Participant’s overview
9.9.8.2. Financial performance
9.9.8.3. Product benchmarking
9.9.8.4. Recent developments
9.9.9. Westinghouse Electric Corporation.
9.9.9.1. Participant’s overview
9.9.9.2. Financial performance
9.9.9.3. Product benchmarking
9.9.9.4. Recent developments
9.9.10. Bajaj Electricals India.
9.9.10.1. Participant’s overview
9.9.10.2. Financial performance
9.9.10.3. Product benchmarking
9.9.10.4. Recent developments
9.9.11. Haier Inc.
9.9.11.1. Participant’s overview
9.9.11.2. Financial performance
9.9.11.3. Product benchmarking
9.9.11.4. Recent developments
9.9.12. Havells India Ltd.
9.9.12.1. Participant’s overview
9.9.12.2. Financial performance
9.9.12.3. Product benchmarking
9.9.12.4. Recent developments
9.9.13. Lennox International Inc.
9.9.13.1. Participant’s overview
9.9.13.2. Financial performance
9.9.13.3. Product benchmarking
9.9.13.4. Recent developments
9.9.14. FERROLI S.p.A
9.9.14.1. Participant’s overview
9.9.14.2. Financial performance
9.9.14.3. Product benchmarking
9.9.14.4. Recent developments
9.9.15. Transform SR Brands LLC.
9.9.15.1. Participant’s overview
9.9.15.2. Financial performance
9.9.15.3. Product benchmarking
9.9.15.4. Recent developments
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