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Saudi Arabia Water Heater Market Size, By Product (Instant [Electric, Gas], Storage [Electric {<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters}, Gas{<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters}]), By Capacity (<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military, Others]), By Fuel (Natural Gas, LPG), COVID-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

  • Report ID: GMI2669
  • Published Date: Jun 2022
  • Report Format: PDF

Industry Trends

Saudi Arabia Water Heater Market size exceeded USD 719 million in 2021 and is projected to expand at a CAGR of over 6 % from 2022 to 2030. Rising concern for carbon emission along with stringent norms and policies will spur the market expansion.
 

Increasing requirements for highly efficient systems coupled with continuous product innovations will foster the industry scenario. In addition, growing inclination to address the hot water supply demand in line with surging requirement for savings in electricity bills will drive the business dynamics. Moreover, ongoing infrastructural developments along with a shifting focus toward the growth of green buildings will boost the market trend.
 

Saudi Arabia Water Heater Market Overview

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The water heater market growth in Saudi Arabia is further attributed to the ongoing government policies & regulations on the expansion of green technologies along with the continuous replacement and refurbishment of traditional heating systems. Significant economic transformations in line with rapid urbanization pertaining to rising disposable incomes will escalate the industry growth. Robust investments across private & public sectors in the expansion of modern technologies will thrust the demand for water heaters. Moreover, the growing adoption of space heating units across residential & commercial establishments in line with a growing demand for instant hot water supply among end-users will sway the business landscape.
 

The COVID- 19 crisis has significantly impacted the market owing to reduced industry operations along with declining product deployments. However, continuous product innovations coupled with the resumption of industrial and manufacturing facilities are set to recover the lost strength. Furthermore, strict government policies in line with ongoing private and public sector investments will propel the industry demand.
 

Rising usage of advanced and modern units in line with surging requirements for on-demand hot water supply

Saudi Arabia Water Heater Market Size

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Instant water heater segment in the Saudi Arabia water heater market is expected to reach USD 190 million by 2030. Shift consumer preferences toward the installation of sustainable heating systems along with requirements for on-demand hot water supply across buildings, hospitals, educational institutes, and other commercial infrastructures will stimulate the industry dynamics.
 

Reduced operational costs, low maintenance, fuel flexibility, increased service life, compact size, multipoint usage, and quick heating are a few parameters, which will accelerate the product demand. Additionally, rising concerns toward carbon emissions along with a shifting consumer focus toward high energy savings will positively influence the market demand.
 

Growing awareness toward the installation of high-performance units

Saudi Arabia water heater market for > 400 Liters capacity segment accounted for USD 59 million in 2021. Stringent laws and mandates toward the adoption of highly efficient solutions along with an increasing focus toward the expansion of energy-saving technologies will augment the market revenue. Continuous introduction of modern solutions equipped with innovative designs in line with extensive business opportunities across the country will strengthen the industry potential.
 

Rising deployment of these units across large commercial establishments pertaining to its operational feasibility will drive the market growth. Furthermore, growing concern to cur carbon emissions in line with the rising shift for the adoption of these units to fulfill the strict energy norms will enhance the industry expansion.
 

Increasing focus toward high energy savings will strengthen the Saudi Arabia water heater market outlook among end users

The commercial application is estimated to record substantial gains during the forecast timeframe, on account of ongoing investments toward the development of smart heating technologies in line with continuous product innovations. Favorable norms and regulations toward green building infrastructures along with rising population & urban migration will spur the usage of water heaters.
 

Additionally, shifting focus on the installation of on-demand water supply across government buildings, institutes, restaurants, and other facilities will foster the industry outlook. Moreover, growing awareness to comply with stringent norms and policies will propel the market progression.
 

Continuous urbanization and the expansion of green building infrastructures

Natural gas segment in the Saudi Arabia water heater market is poised to witness considerable growth rate in the coming years. This growth is credited to the rising concerns to reduce carbon emissions along with the increasing potential of natural gas across the country. Minimum energy costs, enhanced operations compared to other sources, high energy savings, and quick heating are some of the major features complementing product adoption.
 

In addition, stringent government policies on the implementation of modern devices coupled with ongoing replacements of traditional heating systems will boost the demand for these water heaters. Furthermore, consumer focus on reducing bills due to substantial energy conservation will augment the business potential.
 

Strategic partnerships and collaborations among major players

Top companies operating in the Saudi Arabia water heater market are A.O. Smith, Jaquar KSA, Bradford White Corporation, State Water Heaters, Orbital Horizon, Saudi Ceramics Company, and Rheem Manufacturing Company among others. These leaders are focusing on the development of modern technological solutions with new product innovations, mergers, and acquisitions along with the development of advanced technologies.
 

Saudi Arabia water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units’ & ‘USD’ from 2018 to 2030 for the following segments:

Market, By Product

  • Instant
    • Electric
    • Gas
  • Storage
    • Electric
      • <30 Liters
      • 30 - 100 Liters
      • 100 - 250 Liters
      • 250 - 400 Liters
      • >400 Liters
    • Gas
      • <30 Liters
      • 30 - 100 Liters
      • 100 - 250 Liters
      • 250 - 400 Liters
      • >400 Liters

Market, By Capacity

  • <30 Liters
  • 30 - 100 Liters
  • 100 - 250 Liters
  • 250 - 400 Liters
  • >400 Liters

Market, By Application

  • Residential
  • Commercial
    • College/University
    • Office
    • Government/Military
    • Others

Market, By Fuel

  • Natural Gas
  • LPG

 

Authors: Ankit Gupta, Sristhi Agrawal

Frequently Asked Questions (FAQ) :

The market size of Saudi Arabia water heater was valued at USD 719 million in 2021 and is expected to record more than 6% CAGR between 2022 and 2030.

The market share is predicted to cross USD 190 million in valuation by 2030 because the requirement for on-demand hot water supply is increasing among customers.

The natural gas segment is anticipated to increase at a notable rate in the future due to the various benefits offered by the energy source, such as high energy savings, minimum energy costs, and greater operational efficiency as compared to its counterparts.

Jaquar KSA, A.O. Smith, Bradford White Corporation, Orbital Horizon, State Water Heaters, and Saudi Ceramics Company, among others, are the top industry players.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 15
  • Tables & Figures: 89
  • Countries covered: 1
  • Pages: 100

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