Market Overview:
The global water heater market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for hot water in various applications, such as colleges and universities, office buildings, government and military establishments, and others. In addition, the growing awareness about energy-efficient water heating solutions is also contributing to the growth of this market. Solar water heaters are witnessing high demand due to their environment-friendly nature and low installation costs as compared to other types of water heaters. Instantaneous or on-demand water heaters are gaining popularity due their fast heating times and ability to meet peak demands for hot water without any storage capacity requirement.
Product Definition:
A water heater is a household appliance used to heat water. The hot water is usually used for bathing, washing dishes, and laundry.
Solar Water Heater:
Solar water heater is a device used to heat water for domestic purposes and it's also used in some commercial applications like swimming pools, spas, saunas, etc. It works by absorbing solar energy and then transferring it to the water for safe use. The product has gained popularity owing to its eco-friendly nature which helps in saving fuelwood or gas connections.
Instant Water Heater:
Instant water heater is a small portable container filled with tap water and it gets heated by plugging in the appliance. It can be used for heating water for tea, making coffee or doing dishes. The product is available in different sizes and capacities to suit individual needs ranging from 1L to 8L.
Application Insights:
The office segment led the global water heater market in 2017 and is projected to expand at a steady CAGR from 2018 to 2030. Government initiatives, such as the U.S. Department of Energy¢â‚¬â„¢s National Water Heating Program, are expected to increase product demand for heating water in offices across the globe.
The government & military application segment accounted for a significant share of 21% in 2017 owing to growing awareness about efficient use of energy resources and an increasing number of installations across various countries including China, India, Brazil and South Africa among others. Furthermore, rapid growth in military spending is anticipated to boost product demand over the forecast period globally as most military installations lack electricity grids; this makes them reliant on local sources such as power plants that use coal or wood fuel which results in high consumption rates of GWTH products leading to increased market penetration over the coming years.
Regional Analysis:
Asia Pacific was the leading regional market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% of global water heater demand in 2017 owing to increasing awareness regarding energy conservation and sustainable development. Moreover, growing population coupled with rising living standards are expected to drive product demand further.
The growth can also be attributed to rapid urbanization across emerging economies such as India, which has led to an increase in construction activities along with increased spending on household appliances including storage water heaters. Furthermore, government initiatives promoting energy conservation are anticipated to propel industry growth over the coming years. For instance, Government of India launched “Ujjwal Yojana†scheme for irrigation through wastewater by providing financial assistance worth USD X per tankful (of wastewater) treated using solar hot water systems or ground source heat pumps (GHPs).
Growth Factors:
- Increasing demand from the commercial sector for hot water is expected to drive the growth of the water heater market during the forecast period.
- The rising popularity of tankless water heaters is another key factor that is expected to fuel the growth of this market in the near future.
- Growing awareness about energy-efficient water heating solutions among consumers is also anticipated to boost demand for these products in the coming years.
- Rapid urbanization and growing population are other major factors that are likely to contribute significantly towards market growth over next few years .
Scope Of The Report
Report Attributes
Report Details
Report Title
Water Heater Market Research Report
By Type
Solar Water Heater, Instant Water Heater, Storage Water Heater, Others
By Application
College & University, Office, Government & Military, Others
By Companies
A. O. Smith Corporation, Bradford White Corporation (BWC), Ferroli, Bosch Thermotechnology, Rheem Manufacturing Company, State Industries, Rinnai Corporation, Hubbell Incorporated, Saudi Ceramics, Ariston Thermo Group, A. O. Smith Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Water Heater Market Report Segments:
The global Water Heater market is segmented on the basis of:
Types
Solar Water Heater, Instant Water Heater, Storage Water Heater, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
College & University, Office, Government & Military, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- A. O. Smith Corporation
- Bradford White Corporation (BWC)
- Ferroli
- Bosch Thermotechnology
- Rheem Manufacturing Company
- State Industries
- Rinnai Corporation
- Hubbell Incorporated
- Saudi Ceramics
- Ariston Thermo Group
- A. O. Smith Corporation
Highlights of The Water Heater Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Solar Water Heater
- Instant Water Heater
- Storage Water Heater
- Others
- By Application:
- College & University
- Office
- Government & Military
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Water Heater Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A water heater is a device used to heat water.
Some of the key players operating in the water heater market are A. O. Smith Corporation, Bradford White Corporation (BWC), Ferroli, Bosch Thermotechnology, Rheem Manufacturing Company, State Industries, Rinnai Corporation, Hubbell Incorporated, Saudi Ceramics, Ariston Thermo Group, A. O. Smith Corporation.
The water heater market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Water Heater Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Water Heater Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Water Heater Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Water Heater Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Water Heater Market Size & Forecast, 2018-2028
4.5.1 Water Heater Market Size and Y-o-Y Growth
4.5.2 Water Heater Market Absolute $ Opportunity
Chapter 5 Global Water Heater Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Water Heater Market Size Forecast by Type
5.2.1 Solar Water Heater
5.2.2 Instant Water Heater
5.2.3 Storage Water Heater
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Water Heater Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Water Heater Market Size Forecast by Applications
6.2.1 College & University
6.2.2 Office
6.2.3 Government & Military
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Water Heater Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Water Heater Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Water Heater Analysis and Forecast
9.1 Introduction
9.2 North America Water Heater Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Water Heater Market Size Forecast by Type
9.6.1 Solar Water Heater
9.6.2 Instant Water Heater
9.6.3 Storage Water Heater
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Water Heater Market Size Forecast by Applications
9.10.1 College & University
9.10.2 Office
9.10.3 Government & Military
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Water Heater Analysis and Forecast
10.1 Introduction
10.2 Europe Water Heater Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Water Heater Market Size Forecast by Type
10.6.1 Solar Water Heater
10.6.2 Instant Water Heater
10.6.3 Storage Water Heater
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Water Heater Market Size Forecast by Applications
10.10.1 College & University
10.10.2 Office
10.10.3 Government & Military
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Water Heater Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Water Heater Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Water Heater Market Size Forecast by Type
11.6.1 Solar Water Heater
11.6.2 Instant Water Heater
11.6.3 Storage Water Heater
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Water Heater Market Size Forecast by Applications
11.10.1 College & University
11.10.2 Office
11.10.3 Government & Military
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Water Heater Analysis and Forecast
12.1 Introduction
12.2 Latin America Water Heater Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Water Heater Market Size Forecast by Type
12.6.1 Solar Water Heater
12.6.2 Instant Water Heater
12.6.3 Storage Water Heater
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Water Heater Market Size Forecast by Applications
12.10.1 College & University
12.10.2 Office
12.10.3 Government & Military
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Water Heater Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Water Heater Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Water Heater Market Size Forecast by Type
13.6.1 Solar Water Heater
13.6.2 Instant Water Heater
13.6.3 Storage Water Heater
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Water Heater Market Size Forecast by Applications
13.10.1 College & University
13.10.2 Office
13.10.3 Government & Military
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Water Heater Market: Competitive Dashboard
14.2 Global Water Heater Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 A. O. Smith Corporation
14.3.2 Bradford White Corporation (BWC)
14.3.3 Ferroli
14.3.4 Bosch Thermotechnology
14.3.5 Rheem Manufacturing Company
14.3.6 State Industries
14.3.7 Rinnai Corporation
14.3.8 Hubbell Incorporated
14.3.9 Saudi Ceramics
14.3.10 Ariston Thermo Group
14.3.11 A. O. Smith Corporation
