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Water Heaters Global Market Report 2025
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Global Water Heaters Market Report 2025

Report Price : $4490.00

Pages : 175

Format : PDF

Published : January 2025

Delivery Time : 2-3 Business Days

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Water Heaters Global Market Report 2025

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) – Impact of Tariff and Trade War on Market Size, Growth, Trends, and Forecast 2025–2034

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Water Heaters Market Overview

• Water Heaters market size has reached to $63.14 billion in 2024

• Expected to grow to $90.22 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%

• Growth Driver: Urbanization-Driven Expansion Driving The Water Heaters Market

• Market Trend: Introduction Of Energy-Efficient Products

• Asia-Pacific was the largest region in 2024 and Western Europe is the fastest growing region.

What Is Covered Under Water Heaters Market?

Water heaters are appliances designed to heat and typically store hot water for various domestic uses, operating on different energy sources like gas, electricity, oil, or solar energy, and are essential for daily activities such as bathing and cooking while also benefiting from advancements in technology that promote energy efficiency and reduce environmental impact.

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.

Water Heaters Market 2025 - 2034

What Is The Water Heaters Market Size 2025 And Growth Rate?

The water heaters market size has grown strongly in recent years. It will grow from $63.14 billion in 2024 to $67.29 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. 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.

What Is The Water Heaters Market Growth Forecast?

The water heaters market size is expected to see strong growth in the next few years. It will grow to $90.22 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. 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.

The forecast of 7.6% growth over the next five years reflects a modest reduction of 0.4% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through limited availability of heat pump compressors and corrosion-resistant tanks, largely imported from China and Mexico, delaying residential and commercial water heater installations. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

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What’s The Trade War Impact On Electrical and Electronics Industry?

The rapid rise in U.S. tariffs and the subsequent trade frictions in spring 2025 are having a major impact on the electrical and electronics sector, with semiconductors, display panels, and rare-earth metals (essential for batteries and motors) subject to steep duties. Consumer electronics brands face profit erosion, as competitive markets limit their ability to pass costs to buyers. Industrial electronics manufacturers, meanwhile, grapple with delayed projects due to shortages of tariff-impacted components like printed circuit boards. Companies are responding by relocating assembly to tariff-exempt countries, increasing inventory buffers, and redesigning products to reduce dependency on restricted materials.

How Is The Water Heaters Market Segmented?

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

Subsegments:

1) By Solar Heaters: Active Solar Water Heating Systems, Passive Solar Water Heating Systems, Solar Pool Heaters

2) By Electric Heaters: Tank Electric Water Heaters, Tankless Electric Water Heaters, Heat Pump Water Heaters

3) By Gas And Propane Heaters: Tank Gas Water Heaters, Tankless Gas Water Heaters, Condensing Gas Water Heaters

4) By Geothermal Heaters: Ground Source Heat Pumps, Water Source Heat Pumps, Direct Exchange Systems

What Is Driving The Water Heaters Market? 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. For instance, in January 2024, according to the Independent Commission for Aid Impact (ICAI), a UK-based information and services platform, by 2050, over two-thirds (approximately 67%) of the global population is projected to live in urban areas. Additionally, in April 2023, according to data published by the World Bank, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries, 56% of the world’s population or 4.4 billion inhabitants lived in urban areas in 2023, and this number is expected to more than double its current size by 2050. 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. Therefore, rapid urbanization is driving the water heaters market.

What Is Driving The 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.

Who Are The Major Players In The Global Water Heaters Market?

Major companies operating in the water heaters market include 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.

What Are The Key Trends Of The Global 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.

What Are The Key Trends Of The Global Water Heaters Market? 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.

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Water Heaters Market Merger And Acquisition: Carrier Global Corporation Acquired Viessmann Climate Solutions To Enhance Sustainable Energy Solutions Portfolio

In January 2024, Carrier Global Corporation, a US-based company, that designs and manufactures HVAC systems acquired Viessmann Climate Solutions for an undisclosed amount. With this acquisition, Carrier Global Corporation aims to strengthen its portfolio of sustainable climate solutions, addressing the increasing emphasis on renewable energy and energy transition. Viessmann Climate Solutions, a Germany-based manufacturer of heating and refrigeration systems including water heater.

Regional Outlook For The Global Water Heaters Market

Asia-Pacific was the largest region in the water heaters market in 2024. 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

What Defines the Water Heaters Market?

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.

How is Market Value Defined and Measured?

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.

What is the Market Assessment and Strategic Outlook for the Water Heaters Industry?

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 Forecast Analysis

Report AttributeDetails
Market Size Value In 2025 $67.29 billion
Revenue Forecast In 2034 $90.22 billion
Growth Rate CAGR of 7.6% from 2025 to 2034
Base Year For Estimation 2024
Actual Estimates/Historical Data 2019-2024
Forecast Period 2025 - 2029 - 2034
Market Representation Revenue in USD Billion and CAGR from 2025 to 2034
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 Subsegments: 1) By Solar Heaters: Active Solar Water Heating Systems, Passive Solar Water Heating Systems, Solar Pool Heaters
2) By Electric Heaters: Tank Electric Water Heaters, Tankless Electric Water Heaters, Heat Pump Water Heaters
3) By Gas And Propane Heaters: Tank Gas Water Heaters, Tankless Gas Water Heaters, Condensing Gas Water Heaters
4) By Geothermal Heaters: Ground Source Heat Pumps, Water Source Heat Pumps, Direct Exchange Systems
Regional Scope Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Country Scope The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report are Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, 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 Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market

4.1. Supply Chain Impact from Tariff War & Trade Protectionism

5. Global Water Heaters Growth Analysis And Strategic Analysis Framework

5.1. Global Water Heaters PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)

5.2. Analysis Of End Use Industries

5.3. Global Water Heaters Market Growth Rate Analysis

5.4. Global Water Heaters Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)

5.5. Global Water Heaters Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)

5.6. Global Water Heaters Total Addressable Market (TAM)

6. Water Heaters Market Segmentation

6.1. Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Solar Heaters

Electric Heaters

Gas and Propane Heaters

Geothermal Heaters

6.2. Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Supermarket/Hypermarket

Specialty Stores

E-Commerce

Other Distribution Channels

6.3. Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Residential

Commercial

Industrial

6.4. Global Water Heaters Market, Sub-Segmentation Of Solar Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Active Solar Water Heating Systems

Passive Solar Water Heating Systems

Solar Pool Heaters

6.5. Global Water Heaters Market, Sub-Segmentation Of Electric Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Tank Electric Water Heaters

Tankless Electric Water Heaters

Heat Pump Water Heaters

6.6. Global Water Heaters Market, Sub-Segmentation Of Gas And Propane Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Tank Gas Water Heaters

Tankless Gas Water Heaters

Condensing Gas Water Heaters

6.7. Global Water Heaters Market, Sub-Segmentation Of Geothermal Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Ground Source Heat Pumps

Water Source Heat Pumps

Direct Exchange Systems

7. Water Heaters Market Regional And Country Analysis

7.1. Global Water Heaters Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

7.2. Global Water Heaters Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8. Asia-Pacific Water Heaters Market

8.1. Asia-Pacific Water Heaters Market Overview

Region Information, 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, 2019-2024, 2024-2029F, 2034F, $ Billion

8.3. Asia-Pacific Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8.4. Asia-Pacific Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F,$ Billion

9.3. China Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

9.4. China Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

10. India Water Heaters Market

10.1. India Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

10.2. India Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

10.3. India Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

11.3. Japan Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11.4. Japan Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12. Australia Water Heaters Market

12.1. Australia Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12.2. Australia Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12.3. Australia Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13. Indonesia Water Heaters Market

13.1. Indonesia Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13.2. Indonesia Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13.3. Indonesia Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

14.3. South Korea Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14.4. South Korea Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

15.3. Western Europe Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15.4. Western Europe Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16. UK Water Heaters Market

16.1. UK Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16.2. UK Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16.3. UK Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17. Germany Water Heaters Market

17.1. Germany Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17.2. Germany Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17.3. Germany Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18. France Water Heaters Market

18.1. France Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18.2. France Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18.3. France Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19. Italy Water Heaters Market

19.1. Italy Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19.2. Italy Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19.3. Italy Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20. Spain Water Heaters Market

20.1. Spain Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20.2. Spain Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20.3. Spain Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

21.3. Eastern Europe Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21.4. Eastern Europe Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22. Russia Water Heaters Market

22.1. Russia Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22.2. Russia Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22.3. Russia Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

23.3. North America Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23.4. North America Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

24.3. USA Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24.4. USA Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

25.3. Canada Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25.4. Canada Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

26.3. South America Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26.4. South America Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27. Brazil Water Heaters Market

27.1. Brazil Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27.2. Brazil Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27.3. Brazil Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

28.3. Middle East Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28.4. Middle East Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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, 2019-2024, 2024-2029F, 2034F, $ Billion

29.3. Africa Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29.4. Africa Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ 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 Overview, Products and Services, Strategy and Financial Analysis

30.2.2. Rinnai Corporation Overview, Products and Services, Strategy and Financial Analysis

30.2.3. Vaillant Group Overview, Products and Services, Strategy and Financial Analysis

30.2.4. Ariston Thermo Group Overview, Products and Services, Strategy and Financial Analysis

30.2.5. Rheem Manufacturing Company Overview, Products and Services, Strategy and Financial Analysis

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 And Dashboard

33. Key Mergers And Acquisitions In The Water Heaters Market

34. Recent Developments In The Water Heaters Market

35. Water Heaters Market High Potential Countries, Segments and Strategies

35.1 Water Heaters Market In 2029 - Countries Offering Most New Opportunities

35.2 Water Heaters Market In 2029 - Segments Offering Most New Opportunities

35.3 Water Heaters Market In 2029 - 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

Need tailored insights? Customise this report to fit your business goals.

List Of Tables

    Table 1: Global Historic Market Growth, 2019-2024, $ Billion
  • Table 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion
  • Table 3: Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 4: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 5: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 6: Global Water Heaters Market, Sub-Segmentation Of Solar Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 7: Global Water Heaters Market, Sub-Segmentation Of Electric Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 8: Global Water Heaters Market, Sub-Segmentation Of Gas And Propane Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 9: Global Water Heaters Market, Sub-Segmentation Of Geothermal Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 10: Global Water Heaters Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 11: Global Water Heaters Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 12: Asia-Pacific, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 13: Asia-Pacific, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 14: Asia-Pacific, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 15: China, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 16: China, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 17: China, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 18: India, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 19: India, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 20: India, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 21: Japan, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 22: Japan, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 23: Japan, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 24: Australia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 25: Australia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 26: Australia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 27: Indonesia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 28: Indonesia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 29: Indonesia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 30: South Korea, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 31: South Korea, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 32: South Korea, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 33: Western Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 34: Western Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 35: Western Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 36: UK, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 37: UK, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 38: UK, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 39: Germany, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 40: Germany, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 41: Germany, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 42: France, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 43: France, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 44: France, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 45: Italy, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 46: Italy, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 47: Italy, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 48: Spain, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 49: Spain, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 50: Spain, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 51: Eastern Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 52: Eastern Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 53: Eastern Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 54: Russia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 55: Russia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 56: Russia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 57: North America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 58: North America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 59: North America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 60: USA, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 61: USA, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 62: USA, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 63: Canada, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 64: Canada, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 65: Canada, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 66: South America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 67: South America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 68: South America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 69: Brazil, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 70: Brazil, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 71: Brazil, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 72: Middle East, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 73: Middle East, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 74: Middle East, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 75: Africa, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 76: Africa, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 77: Africa, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 78: A. O. Smith Corporation Financial Performance
  • Table 79: Rinnai Corporation Financial Performance
  • Table 80: Vaillant Group Financial Performance
  • Table 81: Ariston Thermo Group Financial Performance
  • Table 82: Rheem Manufacturing Company Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2019-2024, $ Billion
  • Figure 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion
  • Figure 3: Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 4: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 5: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 6: Global Water Heaters Market, Sub-Segmentation Of Solar Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 7: Global Water Heaters Market, Sub-Segmentation Of Electric Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 8: Global Water Heaters Market, Sub-Segmentation Of Gas And Propane Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 9: Global Water Heaters Market, Sub-Segmentation Of Geothermal Heaters, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 10: Global Water Heaters Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 11: Global Water Heaters Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 12: Asia-Pacific, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 13: Asia-Pacific, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 14: Asia-Pacific, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 15: China, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 16: China, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 17: China, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 18: India, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 19: India, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 20: India, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 21: Japan, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 22: Japan, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 23: Japan, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 24: Australia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 25: Australia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 26: Australia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 27: Indonesia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 28: Indonesia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 29: Indonesia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 30: South Korea, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 31: South Korea, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 32: South Korea, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 33: Western Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 34: Western Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 35: Western Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 36: UK, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 37: UK, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 38: UK, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 39: Germany, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 40: Germany, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 41: Germany, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 42: France, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 43: France, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 44: France, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 45: Italy, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 46: Italy, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 47: Italy, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 48: Spain, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 49: Spain, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 50: Spain, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 51: Eastern Europe, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 52: Eastern Europe, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 53: Eastern Europe, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 54: Russia, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 55: Russia, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 56: Russia, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 57: North America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 58: North America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 59: North America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 60: USA, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 61: USA, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 62: USA, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 63: Canada, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 64: Canada, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 65: Canada, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 66: South America, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 67: South America, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 68: South America, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 69: Brazil, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 70: Brazil, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 71: Brazil, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 72: Middle East, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 73: Middle East, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 74: Middle East, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 75: Africa, Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 76: Africa, Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 77: Africa, Water Heaters Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 78: A. O. Smith Corporation Financial Performance
  • Figure 79: Rinnai Corporation Financial Performance
  • Figure 80: Vaillant Group Financial Performance
  • Figure 81: Ariston Thermo Group Financial Performance
  • Figure 82: Rheem Manufacturing Company Financial Performance

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Frequently Asked Questions

Water heaters are appliances designed to heat and typically store hot water for various domestic uses, operating on different energy sources like gas, electricity, oil, or solar energy, and are essential for daily activities such as bathing and cooking while also benefiting from advancements in technology that promote energy efficiency and reduce environmental impact. For further insights on this market, request a sample here

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

The water heaters market size has grown strongly in recent years. It will grow from $63.14 billion in 2024 to $67.29 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. 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 $90.22 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. 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 this market, request a sample here

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 Subsegments:
1) By Solar Heaters: Active Solar Water Heating Systems, Passive Solar Water Heating Systems, Solar Pool Heaters
2) By Electric Heaters: Tank Electric Water Heaters, Tankless Electric Water Heaters, Heat Pump Water Heaters
3) By Gas And Propane Heaters: Tank Gas Water Heaters, Tankless Gas Water Heaters, Condensing Gas Water Heaters
4) By Geothermal Heaters: Ground Source Heat Pumps, Water Source Heat Pumps, Direct Exchange Systems For further insights on this market, request a sample here

Asia-Pacific was the largest region in the water heaters market in 2024. 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 this market, request a sample here.

Major companies operating in the water heaters market include 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 this market, request a sample here.

Major trends in this market include Introduction Of Energy-Efficient Products. For further insights on this market, request a sample here.

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Global Water Heaters Market Report 2025

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