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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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Storage Water Heater Market Size in 2023: | USD 6.97 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 11.63 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 528 |
| Segments covered: | Capacity, Application, Energy Source |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Asia Pacific Storage Water Heater Market Scope
