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Asia Pacific Water Heater Market Trends

Report ID: GMI3139
Published Date: Jul 2024
Report Format: PDF

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Asia Pacific Water Heater Market Trends

Increase in disposable income and living standards, driving the demand for home appliances, including water heaters will stimulate the industry trend. China, India, Japan, South Korea, and Australia are some of the key markets with high growth rates in water heater adoption. Additionally, rapid urbanization leads to the construction of new residential buildings and commercial establishments, which will boost the business scenario. Major urban centers such as Beijing, Mumbai, Tokyo, and Sydney see higher adoption rates due to increased infrastructure development, which will enhance the industry growth.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Asia Pacific water heater industry size was valued at USD 11.25 billion in 2023 and is anticipated to register 6.6% CAGR between 2024 to 2032, owing to government mandates pertaining to greenhouse gas emissions and increasing demand for water heating systems.

Asia Pacific water heater market from the instant segment will record USD 5.81 billion by 2032, due to their low power consumption, longer lifespan, energy efficiency, and widespread use in multifamily apartments.

China water heater industry size reached USD 10.56 billion in 2023 and may reach USD 23.44 billion by 2032, owing to economic growth, urbanization, technological advancements, and supportive government policies.

AQUAMAX AUSTRALIA PTY., A. O. Smith, Ariston Holding N.V., Bajaj Electricals Ltd, Bosch Industriekessel GmbH, Bradford White Corporation, FERROLI p.A, GE Appliances, Haier Inc, Havells India Ltd., and Jaquar India, among others.