Water Heater: Global Markets

Report Code: MFG091A

Publish Date: Oct 2024

Publisher: BCC Publishing

Category: Manufacturing

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Report Highlights

The global market for water heaters is estimated to increase from $23.7 billion in 2023 to reach $32.1 billion by 2029, at a compound annual growth rate (CAGR) of 5.2% from 2024 through 2029.

Report Includes

  • 49 data tables and 44 additional tables
  • Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecasts for 2025, and projected CAGRs through 2029
  • Estimates of the current market size and revenue prospects, along with a market share analysis by product type, storage capacity, energy type, application and region
  • Discussion of the market dynamics, technological advances, regulations, and the macroeconomic factors influencing the industry
  • A Porter’s Five Forces model, and global supply chain and PESTLE analyses
  • Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies
  • A review of recent patents
  • Analysis of the industry structure, including company market shares, strategic alliances, M&A activity and a venture funding outlook
  • Company profiles of major players within the industry, including A.O. Smith, Rheem Manufacturing Co., and Rinnai Corp.

Report Scope

A water heater is a device that heats water for domestic and commercial uses. It operates by converting energy from a source such as electricity, gas or solar power into thermal energy, which heats the water. This heated water is then stored in a tank or heated on demand in instant heaters and made available for use. Water heaters find extensive applications in both residential and commercial settings. In homes, they provide hot water for bathing, cleaning dishes, laundry and other household chores. Additionally, they are essential for cooking, especially in areas where gas stoves are not prevalent. Commercial applications such as hospitals, hotels, restaurants and laundries rely on water heaters for various processes, including cleaning equipment, sterilizing tools, and heating materials.

This report gives an overview of the global market for water heaters and examines market trends. It includes 2023 as the base year and forecast data from 2024 to the end of 2029. The report analyzes the global market revenue ($ million) in terms of segments (product type, storage capacity, energy source and applications) and regions (North America, Europe, Asia-Pacific and the Rest of the World).

The report also examines key trends and challenges affecting the market and the companies operating within it. It analyzes environmental, social and corporate governance (ESG) developments, patents and emerging technologies in the water heater market. It also surveys the competition among major players and provides profiles of the market’s leading companies.

Report Synopsis

Report Metrics Details
Base year considered 2023
Forecast period considered 2024-2029
Base year market size $23.7 billion
Market size forecast $32.1 billion
Growth rate CAGR of 5.2% for the forecast period of 2024-2029
Units considered $ Millions
Segments covered Product Type, Storage Capacity, Energy Source, Applications
Regions covered North America, Europe, Asia-Pacific, Rest of the World
Countries covered U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Russia, Japan, China, India, South Korea, Australia, Indonesia, South America, Middle East, Africa
Key Market Drivers
  • Growing Demand for Energy-Efficient Water Heaters
  • Rapid Urbanization and Migration of People Towards Cities
Companies studied
A.O. SMITHARISTON HOLDING N.V.
BRADFORD WHITE Corp.FERROLI S.P.A
GUANGDONG MACRO GAS CO. LTD.HAIER.COM
HAVELLS INDIA LTD.KYUNGDONG NAVIEN
NORITZ CORP.RHEEM MANUFACTURING CO.
RINNAI CORP.ROBERT BOSCH GMBH
STATE INDUSTRIESVAILLANT GROUP
Need a custom data table, graph, region, segment, companies or complete report? CUSTOMIZE NOW

Frequently Asked Questions (FAQs)

The global market for water heaters was valued at $23.7 billion in 2023 and will reach $32.1 billion by 2029, growing at a CAGR of 5.2% from 2024 to 2029.
The key factors driving the global water heater market growth include growing demand for energy-efficient water heaters, rapid urbanization and rigorous government mandates.
By the end of 2029, the residential application segment will continue to dominate the global water heaters market.
The North American region has the highest market share in the global water heaters market.
The key companies/players in the market include A. O. Smith Corporation, Rheem Manufacturing Company, Rinnai Corporation, Bradford White Corporation and Haier Smart Home Co., Ltd. among others.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Let us assist you! Our analysts are ready to tailor this report to your specific need. Talk to Our Analyst

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Water Heater: Global Markets125Free
Chapter- 1: Executive Summary5Free
Chapter- 2: Market Overview16Free
Chapter- 3: Market Dynamics6Free
Chapter- 4: Emerging Technologies and Developments6Free
Chapter- 5: Market Segmentation Analysis37Free
Chapter- 6: Competitive Intelligence3Free
Chapter- 7: Sustainability in the Water Heaters Industry: An ESG Perspective11Free
Chapter- 8: Appendix41Free

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Water Heater: Global Markets
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