Asia Pacific Water Heater Market Size By Product (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), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030

Industry Trends

Asia Pacific Water Heater Market size exceeded USD 9 billion in 2021 and is projected to expand at a CAGR of over 5% from 2022 to 2030. Rising demand for hot water across single & multi-family apartments along with the continuous development of innovative & modern facilities equipped with remote monitoring & Wi-Fi connectivity features will spur the industry expansion. Additionally, growing carbon emission concerns in line with strict government norms & policies for the development of energy-efficient units will propel the business scenario.
 

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The COVID- 19 outbreak has slightly impacted the industry owing to a scarcity in workforce management together with strict restrictions across various areas. The resumption of various manufacturing facilities coupled with relaxations in government restrictions is set to recover the industry growth. In addition, consumer shift toward the adoption of sustainable solutions in line with continuous product developments will positively influence the market demand.
 

Ongoing development of high-performance & advanced solutions

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Instant water heater segment in the Asia Pacific is estimated to witness substantial gains between 2022 and 2030. Continuous refurbishment & replacement of existing units with on-demand water heating solutions coupled with stringent government mandates for the adoption of energy-efficient systems is propelling the segment growth. Quick functioning, compact size, reduced power consumption, and the ability to offer high efficiency are some of the key features positively impacting the product penetration. Favorable investments across the private & public sectors for developing green building infrastructure in line with the shifting trends toward the adoption of innovative & smart appliances will fuel the industry dynamics.
 

250 - 400 Liters capacity segment is poised to register prominent growth through 2030 due to the consumer inclination toward the adoption of modern facilities together with increasing emphasis on new product developments. Strict government mandates toward the development of high capacity & advanced equipment along with the enforcement of the stringent norms & policies associated with hot water solutions for new building infrastructures will impact the industry scenario. Furthermore, rising demand of space heating systems across end users in line with increasing focus on smart product developments will boost the market growth.
 

Growing demand for point-of-use and low power consumption appliances

The Asia Pacific water heater market from residential application is slated to witness robust growth during the forecast period on account of the rising requirement for modern heating equipment pertaining to the substantial advantages of these systems to offer efficient hot water supply. Continuous improvements in living standards coupled with increasing consumer spending on luxury appliances will sway the product demand. Moreover, the ongoing development of residential establishments in line with rising installation of smart & innovative systems across various single & multi-family buildings will drive the industry demand.
 

Growing investments in the advancement of water heating systems

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Water heater market in India is predicted to surge by a rate of over 5% through 2030. The rising shift toward the acceptance of renewable heating solutions in line with increasing fundings across private and public sectors for infrastructural development will proliferate the market dynamics. Ongoing efforts pertaining to reduce the use of low-efficiency appliances with sustainable solutions for heating coupled with robust installations of high-performance & zero-emission hot water systems across end users will stimulate the business potential. Additionally, the continuous development of manufacturing facilities across the country together with growing requirement for on-demand hot water supply across residential & commercial establishments will augment the industry landscape.
 

Strategic mergers and acquisitions in line with new product innovations by leading players

Leading participants across the Asia Pacific water heater market include Rinnai Corporation, Bradford White Corporation, Ariston Holding N.V., Haier, Whirlpool Corporation, State Industries, Racold, FERROLI S.p.A, Hubbell Heaters, LINUO RITTER INTERNATIONAL CO. LTD., Jaquar India, GE Appliances, Viessmann, Vaillant Group, STIEBEL ELTRON GmbH & Co. KG, Havells India Ltd., Bajaj Electricals Limited, AQUAMAX AUSTRALIA PTY. LIMITED, Deka Fan Malaysia, Joven Electric Corporation, Alpha Electric, A.O. Smith, Bosch Thermotechnology Corp., and Rheem Manufacturing Company, amongst others.
 

These companies are focusing on the advancement of economic & advanced solutions with continuous product innovations, thereby positively impacting the market expansion. Furthermore, inorganic growth ventures along with agreements & contracts among major industry leaders will influence the industry scenario.
 

The Asia Pacific water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units’ & ‘USD Million’ from 2018 to 2030, for the following segments:

Market, By Product

• 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

Market, By Capacity

• < 30 Liters
• 30 - 100 Liters
• 100 - 250 Liters
• 250 - 400 Liters
• > 400 Liters

Market, By Application

• Residential
• Commercial

The above information has been provided for the following countries:

Asia Pacific

• China
• Australia
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Singapore
• Thailand
• New Zealand
• Philippines