Global Water Heaters Market Report 2024

Water Heaters Global Market Report 2024 – By Product Type (Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters), By Distribution channel (Supermarket/Hypermarket, Specialty Stores, E-Commerce, Other Distribution Channels), By End User (Residential, Commercial, Industrial) – Market Size, Trends, And Global Forecast 2024-2033

Water Heaters Global Market Report 2024

Starting Price : $4000.00 | Pages : 175 | Published : January 2024 | Delivery Time: 2-3 business days | Format : pdf

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Description Table Of Contents Tables & Figures Market Insights Related Reports

Water Heaters Market Definition And Segments

A water heater is a device used for heating water above its ambient temperature, used generally for domestic purposes.

The main product types of water heaters are into solar heaters, electric heaters, gas and propane heaters and geothermal heaters. A geothermal water heater is a component of a larger geothermal heat pump system that provides heated and cooled air to a home. A geothermal heat pump works by circulating a water and antifreeze mixture through a series of loops buried in the ground. The water heaters are distributed through supermarket/hypermarket, specialty stores, E-commerce and other distribution channels and are used by into residential, commercial and industrial end-users.

The water heaters market covered in this report is segmented –

1) By Product Type: Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters

2) By Distribution channel: Supermarket/Hypermarket, Specialty Stores, E-Commerce, Other Distribution Channels

3) By End User: Residential, Commercial, Industrial

The water heaters market size has grown strongly in recent years. It will grow from $37.29 billion in 2023 to $40.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to rise in disposable income, high investments, adaption of the internet of things (IoT) and new product launches along with advanced features.

The water heaters market size is expected to see strong growth in the next few years. It will grow to $58.09 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increased internet penetration, a rise in merger and acquisition activity and growing demand for instant heating units. Major trends in the forecast period include offering smart water heaters to protect the energy and increase the efficiency of the water heater, focus on bringing more advancements in hybrid water heaters or systems, to meet the rising demand and to increase their revenue, companies should consider helping in the development of technologies for improving performance, to switch the power load on the grid, by detecting the temperature, invest in the introduction of energy efficient technologies in water heaters to reduce the overall consumption of energy during the water treatment heating process, consider government associations to maintain their renewable energy and for decarbonization purposes and players in the market should consider appealing to technology investments and associations to develop the market presence.

Urbanization-Driven Expansion Driving The Water Heaters Market

Rapid Urbanization is expected to contribute to the growth of the water heaters market in the forecast period. According to the world economic forum (WEF) (2020), urban populations made up the highest share in Northern American countries with 83.6 percent of residents lived in cities and 56.2 percent of the world population was urban. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for water heaters market.

Energy Efficiency Driving Growth In The Water Heaters Market

Increasing need of reducing energy consumption is expected to drive the growth of the water heaters market going forward. Reducing energy consumption is imperative to combat climate change, conserve natural resources, lower energy costs, enhance energy security, and minimize environmental pollution, promoting a sustainable and resilient future. Energy-efficient water heaters reduce energy consumption, lower utility bills, and decrease greenhouse gas emissions, promoting cost savings and environmental sustainability while providing hot water for various needs. For instance, in May 2023, according to US Energy Information Administration, a US-based independent statistics analysis organization, the US residential electricity bills increased 5% in 2022, rising from $121 a month to $137 a month. The rise can be attributed to a dual impact: heightened U.S. electricity usage due to extreme temperature fluctuations, encompassing both heating and cooling, and increased fuel expenses for power generation, consequently raising retail electricity rates. Therefore, rise in need of reducing energy consumption will continue to propel the growth of the water heaters market in the forecast period.

Major companies operating in the water heaters market report are A. O. Smith Corporation, Rinnai Corporation, Vaillant Group, Ariston Thermo Group, Rheem Manufacturing Company, Viessmann Group, Haier Smart Home Co., Ltd., Bradford White Corporation, Robert Bosch GmbH, Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Havells India Ltd., Taian Haoli Solar Energy Technology Co., Ltd., AquaWorld Group Co., Ltd., Changzhou XNE Technology Co., Ltd., Guangdong PHNIX Eco-Energy Solution Ltd., Siemens AG, Stiebel Eltron International GmbH, Telford Copper & Stainless Cylinders, Hamworthy Heating, Sun Ray, PBS Power Equipment, s.r.o., Enerstena Group, Petrojet Trade s.r.o., Druzstevni zavody Drazice company, Noritz Corporation, General Electric (GE), ATMOR, Kyungdong Navien Co.,Ltd., Viesmann Group, Whirlpool Corporation, Alfa Laval, Carrier Corporation, Apen Group, State Industries, American Water Heaters, EcoSmart US, Goodman, ABRAVA- DASOL, Aquecedor Solar Transsen Ltda., Br Solar, IEM – Intercambio Eletro Mecanico Ltda., Dana Water Heaters and Coolers Factory LLC, Al Khatib Electrical Water Heater Factory, Pure Blue International LLC, Solar Ray, Genersys South Africa, GoSolar CC, ITS Solar, Kwikot (Pty) Ltd.

Rising Electricity Prices Posing Challenge For The Growth Of The Water Heater Market

Rising electricity prices are expected to limit the growth of the water heater market in the forecast period. Globally, electricity prices are rising due to increasing transmission costs. For instance, in March 2022, according to U.S. Energy Information Administration, a US-based government agency, the average nominal retail electricity price paid by residential electric consumers in the United States increased at the highest rate since 2008 in 2021, rising 4.3% from 2020 to 13.72 cents per kilowatt-hour (kWh). Rising electricity prices coupled with the rising power outages, and high installation costs of solar water heaters will limit the growth of the water heaters market.

Introduction Of Energy-Efficient Products

Water heater manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, an energy star certified water heater saves $3500 over its lifetime.

Innovative Offerings For Market Competitiveness

Major companies operating in the water heater market are introducing advanced technologies such as Otto and Orizzonte range of storage water heaters to gain a competitive edge in the market. The Otto and Orizzonte offers unique design, space saving, and water control features. For instance, in December 2022, Havells, an India-based manufacturer of several fast-moving consumer goods, launched Otto and Orizzonte storage waters. The Otto water heater features an exclusive circular design with a customizable temperature setting knob and a color-shifting LED indicator transitioning from blue to amber during heating. In contrast, the Orizzonte model is a compact AC type digital water heater designed for limited ceiling heights. It includes a digital temperature display, energy-saving mode, a user-friendly touch control panel, and a wireless remote controller, along with a timer mode for precise heating duration settings.

A.O Smith Corporation Acquired Giant Factories, Inc.

In October 2021, A.O Smith Corporation, a US-based manufacturer of both residential and commercial water heaters and boilers, acquired Giant Factories, Inc. for $192 million in cash. With this acquisition of Giant Factories Inc., A.O Smith would strengthen their leadership position as a global supplier of residential and commercial water heaters. Giant Factories, Inc. is a Canada-based manufacturer of residential and commercial water heaters.

Asia-Pacific was the largest region in the water heaters market in 2023. Western Europe was the second-largest region in the global water heaters market share. The regions covered in the water heaters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the water heaters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain

The water heaters market consists of sales of solar water heaters, electric water heaters, geothermal water heaters, and other water heaters. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The water heaters market research report is one of a series of new reports from The Business Research Company that provides water heaters market statistics, including water heaters industry global market size, regional shares, competitors with a water heaters market share, detailed water heaters market segments, market trends and opportunities, and any further data you may need to thrive in the water heaters industry. This water heaters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Water Heaters Market Report Scope
Report AttributeDetails
Market Size Value In 2024 $40.94 billion
Revenue Forecast In 2033 $58.09 billion
Growth Rate CAGR of 9.1% from 2024 to 2033
Base Year For Estimation 2023
Actual Estimates/Historical Data 2018-2023
Forecast Period 2024 - 2028 - 2033
Market Representation Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered 1) By Product Type: Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters
2) By Distribution channel: Supermarket/Hypermarket, Specialty Stores, E-Commerce, Other Distribution Channels
3) By End User: Residential, Commercial, Industrial
Regional Scope Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Key Companies Profiled A. O. Smith Corporation; Rinnai Corporation; Vaillant Group; Ariston Thermo Group; Rheem Manufacturing Company; Viessmann Group; Haier Smart Home Co., Ltd.; Bradford White Corporation; Robert Bosch GmbH; Bajaj Electricals Ltd; Crompton Greaves Consumer Electricals Ltd.; Havells India Ltd.; Taian Haoli Solar Energy Technology Co., Ltd.; AquaWorld Group Co., Ltd.; Changzhou XNE Technology Co., Ltd.; Guangdong PHNIX Eco-Energy Solution Ltd.; Siemens AG; Stiebel Eltron International GmbH; Telford Copper & Stainless Cylinders; Hamworthy Heating; Sun Ray; PBS Power Equipment, s.r.o.; Enerstena Group; Petrojet Trade s.r.o.; Druzstevni zavody Drazice company; Noritz Corporation; General Electric (GE); ATMOR; Kyungdong Navien Co.,Ltd.; Viesmann Group; Whirlpool Corporation; Alfa Laval; Carrier Corporation; Apen Group; State Industries; American Water Heaters; EcoSmart US; Goodman; ABRAVA- DASOL; Aquecedor Solar Transsen Ltda.; Br Solar; IEM – Intercambio Eletro Mecanico Ltda.; Dana Water Heaters and Coolers Factory LLC; Al Khatib Electrical Water Heater Factory; Pure Blue International LLC; Solar Ray; Genersys South Africa; GoSolar CC; ITS Solar; Kwikot (Pty) Ltd.
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    Table Of Contents

    1. Executive Summary

    2. Water Heaters Market Characteristics

    3. Water Heaters Market Trends And Strategies

    4. Water Heaters Market - Macro Economic Scenario

    4.1. Impact Of High Inflation On The Market

    4.2. Ukraine-Russia War Impact On The Market

    4.3. COVID-19 Impact On The Market

    5. Global Water Heaters Market Size and Growth

    5.1. Global Water Heaters Market Drivers and Restraints

    5.1.1. Drivers Of The Market

    5.1.2. Restraints Of The Market

    5.2. Global Water Heaters Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

    5.3. Global Water Heaters Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

    6. Water Heaters Market Segmentation

    6.1. Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Solar Heaters

    Electric Heaters

    Gas and Propane Heaters

    Geothermal Heaters

    6.2. Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Supermarket/Hypermarket

    Specialty Stores

    E-Commerce

    Other Distribution Channels

    6.3. Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    Residential

    Commercial

    Industrial

    7. Water Heaters Market Regional And Country Analysis

    7.1. Global Water Heaters Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    7.2. Global Water Heaters Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8. Asia-Pacific Water Heaters Market

    8.1. Asia-Pacific Water Heaters Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.3. Asia-Pacific Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    8.4. Asia-Pacific Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    9. China Water Heaters Market

    9.1. China Water Heaters Market Overview

    9.2. China Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.3. China Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    9.4. China Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

    10. India Water Heaters Market

    10.1. India Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.2. India Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    10.3. India Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11. Japan Water Heaters Market

    11.1. Japan Water Heaters Market Overview

    11.2. Japan Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.3. Japan Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    11.4. Japan Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12. Australia Water Heaters Market

    12.1. Australia Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.2. Australia Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    12.3. Australia Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13. Indonesia Water Heaters Market

    13.1. Indonesia Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.2. Indonesia Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    13.3. Indonesia Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14. South Korea Water Heaters Market

    14.1. South Korea Water Heaters Market Overview

    14.2. South Korea Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.3. South Korea Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    14.4. South Korea Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15. Western Europe Water Heaters Market

    15.1. Western Europe Water Heaters Market Overview

    15.2. Western Europe Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.3. Western Europe Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    15.4. Western Europe Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16. UK Water Heaters Market

    16.1. UK Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.2. UK Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    16.3. UK Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17. Germany Water Heaters Market

    17.1. Germany Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.2. Germany Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    17.3. Germany Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18. France Water Heaters Market

    18.1. France Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.2. France Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    18.3. France Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19. Italy Water Heaters Market

    19.1. Italy Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.2. Italy Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    19.3. Italy Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20. Spain Water Heaters Market

    20.1. Spain Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.2. Spain Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    20.3. Spain Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21. Eastern Europe Water Heaters Market

    21.1. Eastern Europe Water Heaters Market Overview

    21.2. Eastern Europe Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.3. Eastern Europe Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    21.4. Eastern Europe Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22. Russia Water Heaters Market

    22.1. Russia Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.2. Russia Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    22.3. Russia Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23. North America Water Heaters Market

    23.1. North America Water Heaters Market Overview

    23.2. North America Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.3. North America Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    23.4. North America Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24. USA Water Heaters Market

    24.1. USA Water Heaters Market Overview

    24.2. USA Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.3. USA Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    24.4. USA Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25. Canada Water Heaters Market

    25.1. Canada Water Heaters Market Overview

    25.2. Canada Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.3. Canada Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    25.4. Canada Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26. South America Water Heaters Market

    26.1. South America Water Heaters Market Overview

    26.2. South America Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.3. South America Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    26.4. South America Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27. Brazil Water Heaters Market

    27.1. Brazil Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.2. Brazil Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    27.3. Brazil Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28. Middle East Water Heaters Market

    28.1. Middle East Water Heaters Market Overview

    28.2. Middle East Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.3. Middle East Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    28.4. Middle East Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29. Africa Water Heaters Market

    29.1. Africa Water Heaters Market Overview

    29.2. Africa Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.3. Africa Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    29.4. Africa Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

    30. Water Heaters Market Competitive Landscape And Company Profiles

    30.1. Water Heaters Market Competitive Landscape

    30.2. Water Heaters Market Company Profiles

    30.2.1. A. O. Smith Corporation

    30.2.1.1. Overview

    30.2.1.2. Products and Services

    30.2.1.3. Strategy

    30.2.1.4. Financial Performance

    30.2.2. Rinnai Corporation

    30.2.2.1. Overview

    30.2.2.2. Products and Services

    30.2.2.3. Strategy

    30.2.2.4. Financial Performance

    30.2.3. Vaillant Group

    30.2.3.1. Overview

    30.2.3.2. Products and Services

    30.2.3.3. Strategy

    30.2.3.4. Financial Performance

    30.2.4. Ariston Thermo Group

    30.2.4.1. Overview

    30.2.4.2. Products and Services

    30.2.4.3. Strategy

    30.2.4.4. Financial Performance

    30.2.5. Rheem Manufacturing Company

    30.2.5.1. Overview

    30.2.5.2. Products and Services

    30.2.5.3. Strategy

    30.2.5.4. Financial Performance

    31. Water Heaters Market Other Major And Innovative Companies

    31.1. Viessmann Group

    31.2. Haier Smart Home Co., Ltd.

    31.3. Bradford White Corporation

    31.4. Robert Bosch GmbH

    31.5. Bajaj Electricals Ltd

    31.6. Crompton Greaves Consumer Electricals Ltd.

    31.7. Havells India Ltd.

    31.8. Taian Haoli Solar Energy Technology Co., Ltd.

    31.9. AquaWorld Group Co., Ltd.

    31.10. Changzhou XNE Technology Co., Ltd.

    31.11. Guangdong PHNIX Eco-Energy Solution Ltd.

    31.12. Siemens AG

    31.13. Stiebel Eltron International GmbH

    31.14. Telford Copper & Stainless Cylinders

    31.15. Hamworthy Heating

    32. Global Water Heaters Market Competitive Benchmarking

    33. Global Water Heaters Market Competitive Dashboard

    34. Key Mergers And Acquisitions In The Water Heaters Market

    35. Water Heaters Market Future Outlook and Potential Analysis

    35.1 Water Heaters Market In 2028 - Countries Offering Most New Opportunities

    35.2 Water Heaters Market In 2028 - Segments Offering Most New Opportunities

    35.3 Water Heaters Market In 2028 - Growth Strategies

    35.3.1 Market Trend Based Strategies

    35.3.2 Competitor Strategies

    36. Appendix

    36.1. Abbreviations

    36.2. Currencies

    36.3. Historic And Forecast Inflation Rates

    36.4. Research Inquiries

    36.5. The Business Research Company

    36.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Table 3: Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 4: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 5: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 6: Global Water Heaters Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 7: Global Water Heaters Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 8: Asia-Pacific, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 9: Asia-Pacific, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 10: Asia-Pacific, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 11: China, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 12: China, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 13: China, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 14: India, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 15: India, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 16: India, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 17: Japan, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 18: Japan, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 19: Japan, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 20: Australia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 21: Australia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 22: Australia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 23: Indonesia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 24: Indonesia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 25: Indonesia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 26: South Korea, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 27: South Korea, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 28: South Korea, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 29: Western Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 30: Western Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 31: Western Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 32: UK, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 33: UK, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 34: UK, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 35: Germany, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 36: Germany, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 37: Germany, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 38: France, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 39: France, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 40: France, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 41: Italy, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 42: Italy, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 43: Italy, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 44: Spain, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 45: Spain, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 46: Spain, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 47: Eastern Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 48: Eastern Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 49: Eastern Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 50: Russia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 51: Russia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 52: Russia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 53: North America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 54: North America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 55: North America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 56: USA, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 57: USA, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 58: USA, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 59: Canada, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 60: Canada, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 61: Canada, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 62: South America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 63: South America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 64: South America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 65: Brazil, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 66: Brazil, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 67: Brazil, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 68: Middle East, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 69: Middle East, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 70: Middle East, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 71: Africa, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 72: Africa, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 73: Africa, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Table 74: A. O. Smith Corporation Financial Performance
  • Table 75: Rinnai Corporation Financial Performance
  • Table 76: Vaillant Group Financial Performance
  • Table 77: Ariston Thermo Group Financial Performance
  • Table 78: Rheem Manufacturing Company Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2018-2023, $ Billion
  • Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
  • Figure 3: Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 4: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 5: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 6: Global Water Heaters Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 7: Global Water Heaters Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 8: Asia-Pacific, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 9: Asia-Pacific, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 10: Asia-Pacific, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 11: China, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 12: China, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 13: China, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 14: India, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 15: India, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 16: India, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 17: Japan, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 18: Japan, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 19: Japan, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 20: Australia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 21: Australia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 22: Australia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 23: Indonesia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 24: Indonesia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 25: Indonesia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 26: South Korea, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 27: South Korea, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 28: South Korea, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 29: Western Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 30: Western Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 31: Western Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 32: UK, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 33: UK, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 34: UK, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 35: Germany, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 36: Germany, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 37: Germany, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 38: France, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 39: France, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 40: France, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 41: Italy, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 42: Italy, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 43: Italy, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 44: Spain, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 45: Spain, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 46: Spain, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 47: Eastern Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 48: Eastern Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 49: Eastern Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 50: Russia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 51: Russia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 52: Russia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 53: North America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 54: North America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 55: North America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 56: USA, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 57: USA, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 58: USA, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 59: Canada, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 60: Canada, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 61: Canada, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 62: South America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 63: South America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 64: South America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 65: Brazil, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 66: Brazil, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 67: Brazil, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 68: Middle East, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 69: Middle East, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 70: Middle East, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 71: Africa, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 72: Africa, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 73: Africa, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Figure 74: A. O. Smith Corporation Financial Performance
  • Figure 75: Rinnai Corporation Financial Performance
  • Figure 76: Vaillant Group Financial Performance
  • Figure 77: Ariston Thermo Group Financial Performance
  • Figure 78: Rheem Manufacturing Company Financial Performance
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Frequently Asked Questions

What is the definition of the water heaters market?

A water heater is a device used for heating water above its ambient temperature, used generally for domestic purposes. For further insights on the water heaters market, request a sample here

How will the water heaters market drivers and restraints affect the water heaters market dynamics? What forces will shape the water heaters industry going forward?

The water heaters market major growth driver - Urbanization-Driven Expansion Driving The Water Heaters Market. For further insights on the water heaters market, request a sample here

What is the forecast market size or the forecast market value of the water heaters market?

The water heaters market size has grown strongly in recent years. It will grow from $37.29 billion in 2023 to $40.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to rise in disposable income, high investments, adaption of the internet of things (iot) and new product launches along with advanced features. The water heaters market size is expected to see strong growth in the next few years. It will grow to $58.09 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increased internet penetration, a rise in merger and acquisition activity and growing demand for instant heating units. Major trends in the forecast period include offering smart water heaters to protect the energy and increase the efficiency of the water heater, focus on bringing more advancements in hybrid water heaters or systems, to meet the rising demand and to increase their revenue, companies should consider helping in the development of technologies for improving performance, to switch the power load on the grid, by detecting the temperature, invest in the introduction of energy efficient technologies in water heaters to reduce the overall consumption of energy during the water treatment heating process, consider government associations to maintain their renewable energy and for decarbonization purposes and players in the market should consider appealing to technology investments and associations to develop the market presence.. For further insights on the water heaters market, request a sample here

How is the water heaters market segmented?

The water heaters market is segmented
1) By Product Type: Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters
2) By Distribution channel: Supermarket/Hypermarket, Specialty Stores, E-Commerce, Other Distribution Channels
3) By End User: Residential, Commercial, Industrial For further insights on the water heaters market, request a sample here

Which region has the largest share of the water heaters market? What are the other regions covered in the report?

Asia-Pacific was the largest region in the water heaters market in 2023. Western Europe was the second-largest region in the global water heaters market share. The regions covered in the water heaters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa For further insights on the water heaters market, request a sample here.

Who are the major players in the water heaters market?

Major companies operating in the water heaters market report are A. O. Smith Corporation, Rinnai Corporation, Vaillant Group, Ariston Thermo Group, Rheem Manufacturing Company, Viessmann Group, Haier Smart Home Co., Ltd., Bradford White Corporation, Robert Bosch GmbH, Bajaj Electricals Ltd, Crompton Greaves Consumer Electricals Ltd., Havells India Ltd., Taian Haoli Solar Energy Technology Co., Ltd., AquaWorld Group Co., Ltd., Changzhou XNE Technology Co., Ltd., Guangdong PHNIX Eco-Energy Solution Ltd., Siemens AG, Stiebel Eltron International GmbH, Telford Copper & Stainless Cylinders, Hamworthy Heating, Sun Ray, PBS Power Equipment, s.r.o., Enerstena Group, Petrojet Trade s.r.o., Druzstevni zavody Drazice company, Noritz Corporation, General Electric (GE), ATMOR, Kyungdong Navien Co.,Ltd., Viesmann Group, Whirlpool Corporation, Alfa Laval, Carrier Corporation, Apen Group, State Industries, American Water Heaters, EcoSmart US, Goodman, ABRAVA- DASOL, Aquecedor Solar Transsen Ltda., Br Solar, IEM – Intercambio Eletro Mecanico Ltda., Dana Water Heaters and Coolers Factory LLC, Al Khatib Electrical Water Heater Factory, Pure Blue International LLC, Solar Ray, Genersys South Africa, GoSolar CC, ITS Solar, Kwikot (Pty) Ltd. For further insights on the water heaters market, request a sample here.

What are the key trends in the water heaters market?

Major trend in the water heaters market - Introduction Of Energy-Efficient Products. For further insights on the water heaters market, request a sample here.

What are the major opportunities in the water heaters market? What are the strategies for the water heaters market?

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How does the water heaters market relate to the overall economy and other similar markets?

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What are the latest mergers and acquisitions in the water heaters industry?

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What are the key dynamics influencing the water heaters market growth? SWOT analysis of the water heaters market.

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