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North America Residential Water Heater Market Size

  • Report ID: GMI5086
  • Published Date: Aug 2021
  • Report Format: PDF
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North America Residential Water Heater Market Size

North America Residential Water Heater Market size exceeded USD 2 billion in 2020, and the annual installation is expected to exceed 14 million units by 2027. Rising consumer focus on availing smart water heating appliances in line with increasing hot water demand among numerous single family & multifamily apartments will fuel product adoption.

 

The introduction of strict government rules & regulations focused on the utilization of energy-efficient gadgets and equipment, increasing consumer investments toward advanced technologies accompanied by substantial drop in electricity bills will drive the North America residential water heater industry statistics.

 

North America Residential Water Heater Market

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North America Residential Water Heater Market Report Attributes
Report Attribute Details
Base Year:2020
North America Residential Water Heater Market Size in 2020:2.7 Billion (USD)
Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:2.2%
2027 Value Projection:3.2 Billion (USD)
Historical Data for:2017
No. of Pages:190
Tables, Charts & Figures:281
Segments covered:Product, Capacity and Energy Source
Growth Drivers:
  • Growing demand for energy efficient water heaters
  • Replacement of conventional water heating systems
Pitfalls & Challenges:
  • High upfront cost
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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The North America market for residential water heater surpassed USD 2 billion in 2020 and could exceed an annual installation of 14 million units through 2027.

In North America, the gas-based residential water heater market will grow on account of numerous factors including the development and expansion of gas pipeline network.

The Canada residential water heater industry will record a CAGR of 3% from 2021 to 2027 due to the rising installation for personal hygiene, cooking, cleaning, and other applications.

Major players in the North America residential water heater market comprise Ariston Thermo, Lennox, Bradford White, Whirlpool Corporation, HTP Comfort Solutions, GE Appliances, American Water Heaters, and others.

North America Residential Water Heater Market Scope

  • North America Residential Water Heater Market Size
  • North America Residential Water Heater Market Trends
  • North America Residential Water Heater Market Analysis
  • North America Residential Water Heater Market Share

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    • Base Year: 2020
    • Companies covered: 17
    • Tables & Figures: 281
    • Countries covered: 2
    • Pages: 190
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