Home > Energy, Mining, Oil & Gas > Water Heater Market

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, Offices, Government/Military, Others]), By Energy Source (Electric, Gas [Natural gas, LPG]), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

  • Report ID: GMI2831
  • Published Date: Nov 2020
  • Report Format: PDF

Industry Trends

Water Heater Market’s annual installation is anticipated to surpass 145 million units by 2026. Increasing investments toward research & development activities coupled with rising customer focus toward product innovation and integration of smart water heating equipment will strengthen the business landscape.
 

Increasing requirement for energy efficient heating appliances owing to high energy consumption along with rising electricity bills will augment the business outlook. Increasing consumer spending toward advanced technologies along with rapid industrialization will influence the product adoption.
 

Get more details on this report - Request Free Sample PDF
 

The outbreak of COVID-19 has impacted various component manufacturing facilities owing to scarcity of workers and travel restrictions across the world. Lockdowns in economies have further led to project delays, thereby impacting the business trends. However, the industry is anticipated to regain its momentum from the second quarter of 2021.
 

Growing demand for instant heating units will drive the global water heater industry share

Increasing adoption of instant heating technologies on account of the key advantages offered including limited standby losses & high supply output in comparison with conventional storage units is set to favor the market share. Surging demand across the commercial applications on account of advanced monitoring features comprising Wi-fi among others will positively enhance the global water heater market size.
 

Increasing demand for electric water heaters will drive the global market statistics

The electric water heater market is set to grow on account of ongoing expansion of grid infrastructure and increasing point of contact for the consumers. Significant improvement in grid efficiency along with availability of continuous electricity supply will complement the industry landscape. In addition, key benefits when compared with the gas fired units, consisting of limited maintenance requirement, low standby loss, along with easy installation will favor the global water heater industry trends.
 

Ongoing investments toward infrastructure will stimulate the commercial water heater demand

The commercial water heater market is set to register over 6% CAGR through 2026 owing to robust growth across the service sector along with ongoing expansion of high-rise buildings to new cities. Development of new shopping complexes and commercial buildings including hotels, offices and universities will complement the business landscape. Strict building efficiency standards and codes combined with rising number of smart city development projects will augment the market statistics.
 

30-100 liters capacity units accounted for over 30% of revenue share in 2020

Get more details on this report - Request Free Sample PDF
 

Rising deployment of low-capacity units specifically across the residential establishments including both single and multi-family apartments coupled with increasing adoption of storage units is set to strengthen the adoption of 30-100 liters water heaters. Rising urbanization & industrialization combined with improving standard of living & growing dispensable incomes will drive the global water heater market trends.
 

Low installation and repair cost, easy maintenance combined with availability of range of models appropriate for multiple application purposes will facilitate the adoption of below 30 liters capacity units. Higher suitability in various commercial developments comprising healthcare, hotels, government institutions and shopping complexes will augment the global water heater industry forecasts.
 

Technological advancement will drive business growth across the Latin America

Get more details on this report - Request Free Sample PDF
 

Asia Pacific, Latin America, and Europe will dominate the global water heater market accounting for over 75% share in 2019. Growing disposable income along with strong GDP growth across emerging nations will drive the market statistics over the forecast timeframe.
 

For Latin America, Brazil will lead the business growth with over 70% of the regional share in 2019. Robust adoption of tankless units owing to reduction in water wastage, low energy consumption and long product life will propel the industry outlook. High spending in product development along with replacement of existing heaters with new designs will further enhance the business scenario.
 

Strategic mergers and acquisitions will influence the global water heater market forecast

Ongoing strategic partnerships and mergers & acquisitions by the companies will escalate the business demand. The companies are forming technical strategic partnerships to innovate their existing product line and improve on their consumer base.
 

Key participants operating across the global water heater market include Viessmann, Rinnai, A.O Smith, Rheem Manufacturing, Bosch, Bradford White, Racold, Vaillant Group, State Industries, Ariston Thermo, Haier Electronics, Whirlpool Corporation, and Hubbell, among others.
 

Global water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:

By Product

  • Instant
    • Electric
    • Gas
  • Storage
    • Electric
      • Below 30 Liter
      • 30-100 Liter
      • 100-250 Liter
      • 250-400 Liter
      • Above 400 Liter
    • Gas
      • Below 30 Liter
      • 30-100 Liter
      • 100-250 Liter
      • 250-400 Liter
      • Above 400 Liter

By Application

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

By Capacity

  • Below 30 Liter
  • 30-100 Liter
  • 100-250 Liter
  • 250-400 Liter
  • Above 400 Liter

By Fuel

  • Electric
  • Gas
    • Natural Gas
    • LPG

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Austria
    • Spain
    • Netherland
    • Denmark
    • Finland
    • Sweden
    • Norway
  • Eurasia
    • Russia
    • Belarus
    • Armenia
    • Kazakhstan
    • Kyrgyzstan
  • CIS
    • Azerbaijan
    • Moldova
    • Tajikistan
    • Turkmenistan
    • Ukraine
    • Uzbekistan
  • Asia Pacific
    • China
    • Australia
    • India
    • Myanmar
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
    • New Zealand
    • Philippines
    • Vietnam
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Bahrain
    • Oman
    • Turkey
    • South Africa
    • Nigeria
    • Algeria
    • Egypt
    • Israel
    • Cyprus
    • Lebanon
    • Iraq
  • Latin America
    • Brazil
    • Argentina
    • Chile
    • Mexico

 

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The global water heater industry revenue surpassed USD 28 billion in 2019 and is projected to cross 145 million units by 2026.
The commercial water heater industry size is likely to expand at over 6% rate due to the strong growth in the service sector coupled with the constant expansion of high-rise buildings in new cities.
In 2019 the 30-100 liters capacity units registered 30% of the global water heaters market share and is anticipated to grow substantially due to the rising installation of low capacity units specifically across the residential establishments.
The electric water heater industry share is anticipated to witness notable growth driven by the ongoing expansion of grid infrastructure and increasing point of contact for the consumers coupled with benefits like low maintenance, low standby loss, and easy installation.

Buy Now


Premium Report Details

  • Base Year: 2019
  • Companies covered: 45
  • Tables & Figures: 2922
  • Countries covered: 56
  • Pages: 1300
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount