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Water Heater Market in Asia Pacific worth over $14.5 Bn by 2030

  • Published Date: August 4, 2022

Water Heater Market size in Asia Pacific is set to surpass USD 14.5 billion by 2030, according to a new research report by Global Market Insights Inc.

The industry growth is attributed to the rising demand for energy-efficient heating systems along with the continuous development of smart & reliable units. The surging requirement for space heating in line with ongoing replacements of traditional heating systems with modern solutions will fuel the market dynamics. Furthermore, favorable government mandates & laws focusing on the development of sustainable energy systems together with substantial growth of green building infrastructures will foster the business scenario.

Increasing utilization of cost-effective heating solutions along with significant product development

The storage segment in the Asia Pacific water heater market is poised to register prominent growth during the forecast period, credited to the growing demand for energy-saving heating units across commercial & residential facilities in line with the increasing shift toward enhanced water storage facilities. High energy savings, cost-effectiveness, simple installation, reduced flow rate supply, and uninterrupted supply of hot water during power outages are some of the key parameters, which will complement product penetration. Moreover, continuous advancements in technologies including voice control, Wi-Fi connectivity, and remote monitoring features along with substantial fundings pertaining to the expansion of heating technologies will drive the industry trend.

Browse key industry insights spread across 450 pages with 730 market data tables & 42 figures & charts from the report, Asia Pacific 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), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share, and Forecast, 2022 - 2030”, in detail along with the table of contents:

Growing requirement for sustainable heating solutions coupled with the increasing deployment of highly efficient systems

The 30 - 100 liters capacity segment is slated to witness significant gains through 2030 on account of the extensive adoption of highly accurate and cost-effective systems by end-users together with continuous introduction of advanced products. In addition, government efforts in the development of green infrastructures along with the continuous refurbishment of existing water heating systems will boost the market growth.

Extensive focus toward high energy savings in line with the rising deployment of efficient heating units across the commercial establishments

Asia Pacific water heater market from commercial application is projected to rise owing to an increasing requirement for low emission water heating units coupled with robust investments in infrastructural development. Growing deployment of enhanced efficiency solutions for hot water supply across shopping centers, universities, government buildings, hotels, schools, and other commercial facilities will sway the product adoption. Furthermore, the continuous introduction of engineered and smart water heating solutions along with favorable government investments in the development of modern technologies will accelerate the business landscape.

Rising disposable incomes in line with continuous upgradation of infrastructure

Japan market is estimated to attain substantial gains during the forecast timeframe due to the increasing consumer shift toward reliable and cost-effective heating appliances together with robust investments by private and public sectors in the development of efficient heating units. Continuous development of modern facilities pertaining to the growth of green building infrastructures will propel the industry demand. Additionally, the ongoing integration of smart technologies with advanced product customization, enabling leakage detection facilities, coupled with rapid urbanization will positively influence the industry scenario.

Strategic collaborations, acquisitions, and partnerships among prominent industry players

Major participants operating in the Asia Pacific water heater market are A.O. Smith, FERROLI S.p.A, State Industries, Racold, Whirlpool Corporation, Ariston Holding N.V, Bradford White Corporation, Rinnai Corporation, Rheem Manufacturing Company, Jaquar India, Vaillant Group, Viessmann, STIEBEL ELTRON GmbH & Co. KG, Bosch Thermotechnology Corp, Havells India Ltd, AQUAMAX AUSTRALIA PTY. LIMITED, Joven Electric Corporation, Bajaj Electricals Limited, Deka Fan Malaysia, Haier, and GE Appliances, and Hubbell Heaters among others. These leaders are focusing on business expansion with continuous product developments and the introduction of new technologies, which will lead to industry dynamics.

Authors: Ankit Gupta, Srishti Agarwal

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