Asia Pacific Water Heater Market Size By Product (Solar, Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30 - 100 Liters, 100-250 Liters, 250 - 400 Liters, > 400 Liters}, Gas{< 30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, > 400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military]), By Fuel (Natural Gas, LPG) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Feb 2019  |  Report ID: GMI3139  |  Authors: Ankit Gupta, Anshul Hardas

Report Format: PDF   |   Pages: 450   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Asia Pacific Water Heater Market size was valued over USD 7 billion in 2018 and is set to expand over 3.5 % by 2025.

Asia Pacific Water Heater Market

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Significant funding toward infrastructure development along with rising demand for low emission, energy efficient and cost-effective water heating systems will drive the Asia Pacific water heater market growth. Ongoing economic development along with accelerating demand for electrical appliances on account of substantial upliftment in living standards will complement the business outlook. In addition, as per the India Brand Equity Foundation (IBEF), India has witnessed strong growth in deposits and savings over the past few years. In 2018, the bank deposits were estimated over USD 1.8 trillion from USD 1.6 trillion in 2017.

Rapid population growth along with ongoing development of smart cities will foster the Asia Pacific water heater market growth. Respective government authorities have further directed to deploy low carbon emitting systems across educational and commercial establishments. For instance, under the auspices of the Green Building Council (GBC), New Zealand has applied Australia’s Green Star environmental rating system for buildings since 2006. The system considers a range of practices for reducing the environmental impact of buildings.

Asia Pacific Water Heater Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 7 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 3.5% 2025 Value Projection: 9 Billion (USD)
Pages: 450 Tables, Charts & Figures: 692
Geographies covered (12): Australia, China, Japan, South Korea, India, Vietnam, Indonesia, Malaysia, Singapore, Thailand, New Zealand, Philippines
Segments covered: Product, Capacity, Application, Fuel and Region
Companies covered (21): A.O. Smith, Ariston Thermo Spa, Bosch Thermotechnology, Bradford White Corporation, Saudi Ceramics, General Electric Appliances, Haier Electronics, Racold, Rheem Manufacturing Company, Whirlpool Corporation, Rinnai Corporation, State Water Heaters, Ferroli S.p.A, Havells India Limited, Hubbell, Inc., Linuo Ritter International Co. Ltd., Jaquar Group, Viessmann Group, Vaillant Group, Nihon Itomic Co. Ltd., Groupe Atlantic
Growth Drivers:
  • Rapid urbanization and advancing product customization
  • Increasing demand for water heating systems
  • Government mandates pertaining to greenhouse gas emissions
Pitfalls & Challenges:
  • High upfront cost

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Asia Pacific Water Heater Market, By Product

Progressing shift toward clean energy sources along with growing concerns for global climate change will drive solar water heater market growth. Respective government rebates and subsidies along with rapid evolution of renewable technologies will positively enhance the industry outlook. In 2011, the Government of Australia introduced the Renewable Energy Target (RET) scheme with an aim to fulfill 23.5% of the country’s total energy consumption through renewable resources including wind, solar and hydro-electric by 2020.

Simple design & low upfront cost coupled with easy maintenance are some of the key factors stimulating the demand of storage water heater market. Product assortment with availability in wide capacity range make them suitable for various residential applications. Growing development of residential communities along with growing hot water demand across commercial properties will encourage the product adoption.

Asia Pacific Water Heater Market, By Application

Continuous requirement of hot water primarily across kitchen and bathrooms along with increasing deployment of hydronic underfloor heating systems will propel the residential water heater market growth. Rising per capita income coupled with adoption of advanced technologies with Wi-Fi integration, remote control and monitoring along with leakage detection will instigate the product demand.

Growing adoption of on demand heating systems primarily across office premises along with continuous requirement of hot water across hospitals and hotels will foster the commercial water heater market. Rapid expansion of service industry along with ongoing government investments toward strengthening the infrastructure will segment the industry outlook.

Asia Pacific Water Heater Market, By Capacity

Japan Water Heater Market By Capacity

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Prevailing mandates for the installation of energy efficient heating technologies across commercial and federal buildings coupled with expansion of corporate offices will stimulate the 100-250 liters water heater demand. Respective measures by industry players for improving the carbon footprint coupled with deployment of new power saving units will complement the business landscape.

Stringent industry policies toward the replacement of conventional heaters in order to minimize the standby heat losses along with requirement of cost-effective heating systems across large commercial applications will drive the 250-400 liters water heater market growth. Need for effective management and control systems owing to unnecessary water wastage across public facilities including hotels and shopping malls will complement the industry landscape.

Asia Pacific Water Heater Market, By Fuel

Large flow rates along with high heating output in comparison with electrical counterparts will propel the natural gas water heater market growth. Ongoing development of gas pipeline network along with substantial government investment in order to improve the gas accessibility across the region will enhance the industry outlook.

Water heater market by LPG was valued over USD 1 billion in 2018. Growing electricity bills along with frequent power outages will instigate the product demand. Rapid adoption across residential and small business applications will complement the business landscape.

Asia Pacific Water Heater Market, By Region

Australia Water Heater Market By Commercial

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China water heater market was valued over USD 4 billion in 2018. Dense population along with stringent environment polices pertaining to reduction of carbon emission have instigated the need for ecofriendly heating systems. Low cost manufacturing along with rapid technological development will complement the business landscape.

Ongoing government developments strictly inclined toward building energy efficient infrastructure including tall building architecture, museums and others will drive the Singapore water heater market growth. Replacement of conventional units along with substantial growth across the manufacturing sector will enhance the industry outlook.

Extensive focus toward renewable expansion along with growing tourism industry will foster the Malaysia water heater market growth. Tropical climate along with robust solar potential have augmented the industry landscape. In addition, gaining strength across the household spending along with significant reduction in the product cost will positively enhance the industry outlook.

Competitive Market Share

Notable players operating across the Asia Pacific water heater market include Viessmann Group, A.O Smith, Ferroli, Bosch Thermotechnology, State Industries, Rinnai Corporation, Rheem Manufacturing, Linuo Ritter, Saudi Ceramics, Bradford White, Whirlpool, Hubbell, Ariston Thermo, Haier Electronics, Vaillant Group and Jaquar.

Increasing research and development funds along with partnerships with eminent technological leaders are the prime growth strategies adopted across industry. In addition, geographical expansion across developing nations along with prevailing government support through incentives and rebates have provided immense growth opportunities for new entrants.

Asia Pacific Water Heater Industry Background

The water heater operate by using immersion heating elements, controlled by thermostats which regulates the temperature inside the tank. The conventional storage heating systems include a system of tank and vent pipes, fired by either gas or electricity. The products are equipped with a pressure & temperature relief valve which automatically opens if the pressure inside the tank exceeds the critical limit, ensuring safe operations. The instant water heating systems are generally steam home heating systems which supplies hot water directly from the taps. The systems supply hot water on demand when the taps are opened activating the flow sensors in the pipes.

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