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Asia Pacific Water Heater Market Size

Report ID: GMI3139
Published Date: Oct 2023
Report Format: PDF

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Asia Pacific Water Heater Market Size

Asia Pacific Water Heater Market was valued at more than USD 11.25 billion in 2023 and is projected to expand at a CAGR of 6.6% from 2024 to 2032.

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Favorable government investments in new product development coupled with integration of smart technology into water heaters will boost the industry growth. For instance, in January 2022, GE Appliances launched RealMAX, its first comprehensive atmospheric gas water heater series. These technologically advanced product offers a variety of features comprising capacity ranges of 30 to 50 liters, easy installation, an LED indicator, durability & applicability for residential & light commercial uses.

Asia Pacific Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2022
Asia Pacific Water Heater Market Size in 2022:	USD 11 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6%
2032 Value Projection:	USD 19.7 Billion
Historical Data for:	2019 to 2021
No. of Pages:	550
Tables, Charts & Figures:	529
Segments covered:	Product, Capacity, Application
Growth Drivers:	Rapid urbanization & 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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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of water heater in Asia Pacific was worth more than USD 11.6 billion in 2023 and is anticipated to surpass USD 19.67 billion by 2032.

The instant water heater segment will be worth USD 5.8 billion by 2032, owing to ongoing investments across public & private sectors for developing green building infrastructure along with growing population and urbanization across the region.

Japan water heater industry will grow at a 6.5% CAGR through 2032, owing to the robust expansion of manufacturing facilities across the country combined with the shift towards the adoption of sustainable heating solutions.

Havells India Ltd., A.O. Smith, Ariston Holding N.V., Bosch Industriekessel GmbH, Bradford White Corporation, GE Appliances, Haier Inc, Racold, Rheem Manufacturing Company, Rinnai Corporation, State Industries, and FERROLI p.A, among others.