Home > Energy, Mining, Oil & Gas > Middle East Water Heater Market
Middle East Water Heater Market size exceeded USD 1.7 billion by 2021 and is projected to expand at over 7% CAGR from 2022 to 2030. The rising demand for enhanced efficiency systems in line with continuous product advancements will drive the industry potential. Additionally, shifting customer focus on the adoption of renewable devices among various end-users will augment the industry outlook.
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The COVID-19 pandemic had majorly impacted the Middle East water heater market with shutdown in operations and lockdown imposed leading to reduced workforce across several economies. However, the declining infected cases, ongoing vaccination drives, reopening of the manufacturing facilities to deal with the latent product demand will contribute to the industry growth. Moreover, strict policies pertaining to the development of sustainable solutions will foster the product penetration.
Report Coverage | Details |
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Base Year: | 2021 |
Market Size in 2021: | USD 1,764.8 Million |
Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 7.3% |
2030 Value Projection: | 12.7 Million Units |
Historical Data for: | 2018 to 2021 |
No. of Pages: | 300 |
Tables, Charts & Figures: | 531 |
Segments covered: | Product, Capacity, Application, Fuel |
Growth Drivers: |
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Pitfalls & Challenges: |
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Middle East water heater market is predicted to witness a significant growth during the forecast period. This growth is attributed to favorable government norms, mandates, and policies for the development of smart heating technologies along with significant economic transformations across the region. Robust growth on account of ongoing business expansions and continuous product developments will spur the market dynamics. In addition, the increasing replacement and refurbishment of the conventional heating systems with advanced solutions across different applications will accelerate the industry landscape.
Instant water heater market is estimated to attain 7% growth rate till 2030. Paradigm shift toward the acceptance of environmental-friendly heating systems along with on-demand water supply requirements will sway the Middle East water heater market statistics. Limited maintenance, fuel flexibility, maximum service life, efficient water conservation, and low operating costs coupled with energy-saving technology are the factors which will enhance the product adoption. Furthermore, quick heating, compact size, and multipoint usage along with increasing penetration across the residential & commercial sectors will propel the market growth.
The Middle East water heater market size for > 400 Liters capacity segment was over USD 140 Million in 2021. Continuous product advancements to meet the energy standards along with extensive business expansion opportunities will positively influence the business growth. Growing disposable incomes in line with increasing requirement of warm water across the service sector will stimulate the industry expansion. Moreover, spending on the advancement of sustainable infrastructure, ongoing infrastructure development along with significant increase in the per capita incomes owing to growing population will stimulate the product adoption.
Commercial application in the Middle East water heater market is slated to register a substantial gain during the forecast timeframe, due to the multiple investments in the refurbishment of the existing conventional infrastructure along with continuous development of smart heating technologies. Rapid industrialization, growing population and urban migration will escalate the market demand. In addition, introduction of standards for energy consumption and growing stringency to comply with the standards will strengthen the product adoption.
Natural gas segment is anticipated to showcase robust growth in the coming years on account of the rising concerns to curb the carbon emissions along with expansion of the exiting gas pipeline network. Low energy costs, quick operations compared to other energy sources, simple installation, and quick heating are some of the key advantages that will stimulate the usage of this product. Additionally, favorable norms by respective government authorities to implement the adoption of smart heating systems specifically across the domestic applications will proliferate the Middle East water heater market dynamics.
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UAE water heater market is poised to witness substantial growth through 2030, impelled by positive outlook toward the adoption of renewable technologies coupled with ongoing advancement of smart heating systems. Extensive urbanization and robust infrastructural development in line with an extensive demand for hot water supply among consumers will thrust the demand for water heaters. Furthermore, continuous replacement and refurbishment of the existing systems with energy-efficient solutions will boost the industry dynamics.
Top companies operating in the Middle East water heater market are A.O. Smith, Jaquar Middle East, Ariston Holding N.V., Valliant, Bosch Thermotechnology Corp., Bradford White Corporation, GE Appliances, Saudi Ceramics Company, Rinnai Corporation, Rheem Manufacturing Company, State Industries, Whirlpool Corporation and Hubbell. These leaders are focusing on new product innovations, mergers & acquisitions and the development of advanced technologies.
Market, By Product
Market, By Capacity
Market, By Application
Market, By Fuel
The above information has been provided for the following countries: