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Residential Water Heater Market Size
- Report ID: GMI4667
- Published Date: Jun 2023
- Report Format: PDF
Residential Water Heater Market Size
Residential Water Heater Market size surpassed USD 24.35 billion in 2023 and is anticipated to grow at 4.8% CAGR from 2024 to 2032. Surge in installation of energy-efficient heating appliances governed by severe industry laws and standards, in conjunction with increased use of smart home equipment, will fuel the industry growth. The global market for water heater will cross a valuation of USD 50 billion by 2032
COVID-19 Impact
The COVID- 19 coronavirus outbreak made an adverse impact on the worldwide economy. The virus was first identified in December 2019 in China's Hubei province, resulting in public health concern worldwide. The virus has affected over 200 countries and has caused lockdowns in many, limiting residential water heater market growth. However, major industry players continue their operations in significant and innovative ways to meet their production needs.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Residential Water Heater Market Size in 2023: | USD 24.35 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.8% |
| 2032 Value Projection: | USD 36.54 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 940 |
| Tables, Charts & Figures: | 1,522 |
| Segments covered: | Product, Capacity, Fuel, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Residential Water Heater Market Scope
