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Asia Pacific Storage Water Heater Market Size

  • Report ID: GMI5772
  • Published Date: May 2023
  • Report Format: PDF

Asia Pacific Storage Water Heater Market Size

Asia Pacific Storage Water Heater Market size was valued at USD 6.97 billion in 2023 and is anticipated to witness 6% CAGR from 2024 to 2032. A storage water heater consists of a tank equipped with immersion heating units & controllers for temperature regulation. The systems can either be powered by gas or electricity. Easy installation, fuel flexibility, low-cost, and minimum flow rate requirements are some of the features which will complement the product demand. Global market for storage water heater is likely to hit USD 28 billion by 2030.


Additionally, ongoing technological advancements such as smart control technology and remote-control features will boost business potential. Ongoing transition towards sustainable infrastructures, coupled with the point-of-use implementation of upgraded heating systems throughout educational institutions and other commercial infrastructures, will boost industrial potential. Additionally, a paradigm shift towards zero-emission solutions in response to the demand for low-cost hot water solutions will stimulate industry dynamics.


Authors: Ankit Gupta, Abhishek chopra

Frequently Asked Questions (FAQ) :

The market size for storage water heater in APAC surpassed USD 6.97 billion in 2023 and could surpass USD 11.63 billion by 2032, with product benefits such as easy installations, low-cost, fuel flexibility and minimum flow rate requirements.

The residential application segment dominated over USD 4.2 billion during 2022, owing to factors such as affordable prices, suitable range of capacities, and flexible installation.

Electric storage water heater market value in Asia Pacific could surpass USD 6.2 billion by 2032, with continuous development of grid networks, surge in the number of points of connection, and benefits such as lower standby losses & ease of installation.

Japan storage water heater market accounted for 12% revenue share in 2022, and will grow further due to increased demand for energy-efficient products to support the continuous infrastructure development in the region.

Asia Pacific Storage Water Heater Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 528
  • Countries covered: 11
  • Pages: 400
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