Home > Industrial Machinery > HVAC > Water Heater > Storage Water Heater Market

Storage Water Heater Market Trends

Report ID: GMI2941
Published Date: Oct 2023
Report Format: PDF

Download Free Sample

Storage Water Heater Market Trends

Growing emphasis on energy-efficient storage water heaters along with ability to significantly reduce energy consumption and operating costs will complement the industry landscape. Manufacturers adding smart and connected features that allow users to monitor and control their heating equipment remotely through smartphone apps will sway the industry trends. In addition, upsurge in the adoption of these units across airports, malls, and shopping centers will positively influence the product penetration.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of storage water heater was exceeded USD 19.11 billion in 2023 and is anticipated to reach more than USD 31.33 billion by 2032, owing to the rising infrastructural expansion driven by the escalating economic development.

Electric storage water heater market is estimated to record 5.5% CAGR from 2023 to 2032, owing to innovation of energy-efficient and cost-effective units coupled with the rising requirement for large capacity water heaters to ensure an uninterrupted supply of hot water.

Asia Pacific storage water heater market size is likely to witness 5.5% CAGR through 2032, due to rising adoption of advanced water treatment solutions, including anti-scale technology and corrosion prevention to enhance reliability and longevity.

Some of the prominent storage water heater firms are Havells India Ltd., Hubbell Heaters, Saudi Ceramics Company, Linuo Ritter International Co., Ltd., Jaquar India, and Viessmann.