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Asia Pacific Water Heater Market Trends

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

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Asia Pacific Water Heater Market Trends

Key features comprising the ability to eliminate the standby heat loss in comparison to the traditional heaters, space-saving and enhanced energy-efficiency will augment the product penetration. Ongoing infrastructural developments in line with increasing consumer spending owing to improved living standards will drive the business outlook. Shifting consumer preference to efficient designs that provide hot water while minimizing energy consumption and reduce utility bills will propel the product demand. Mandatory requirements of manufacturers to meet with specific efficiency criteria will drive the product innovation and development, thereby augmenting the business landscape.

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.