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Water Heaters Global Market Report 2024

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    Report

  • 175 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5939139

Quick Summary:

In the rapidly expanding realm of modern conveniences and technological advancements, the water heaters market stands as a foundation of household and industrial utilities. Navigating this complex and dynamic market requires keen insight, which our comprehensive market research report readily provides.

Senior executives seeking to bolster their company's market position or diversify into the water heaters sector will find this report indispensable. It goes beyond the statistics to paint a vivid picture of the industry landscape. This document not only serves as a beacon of knowledge essential for strategic planning but also offers a competitive edge through a thorough understanding of market drivers, such as the widespread adoption of IoT and cutting-edge efficiency-enhancing innovations.

By delving into our detailed analysis, you will gain the foresight needed to make informed decisions and capitalize on growth opportunities. This report encapsulates crucial data, industry best practices, and forecasting that empowers decision-makers to lead with confidence in the ever-evolving water heaters marketplace.

The water heaters market size has grown strongly in recent years. It will grow from $37.29 billion in 2023 to $40.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion observed in the historical period can be attributed to factors such as a rise in disposable income, substantial investments, the adoption of the Internet of Things (IoT), and the introduction of new products with advanced features.

The water heaters market size is expected to see strong growth in the next few years. It will grow to $58.09 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period can be attributed to increased internet penetration, a rise in merger and acquisition activity, and a growing demand for instant heating units. Major trends in the forecast period include the offering of smart water heaters to enhance energy efficiency, a focus on advancing hybrid water heaters or systems to meet increasing demand and boost revenue, companies contributing to the development of technologies for improved performance and grid power load management by temperature detection, investments in energy-efficient technologies for water heaters to reduce overall energy consumption in the heating process, collaboration with government associations for renewable energy and decarbonization purposes, and players in the market appealing to technology investments and associations to bolster their market presence.

The water heaters market is anticipated to experience growth due to the impact of rapid urbanization during the forecast period. According to the World Economic Forum (WEF), urban populations in Northern American countries accounted for the highest share, with 83.6 percent of residents living in cities, and globally, 56.2 percent of the population was urban. The increase in urbanization, combined with rising disposable incomes and affordability among city residents, is expected to drive the demand for the water heaters market.

The growing need to reduce energy consumption is set to drive the water heaters market in the foreseeable future. Energy conservation is crucial for addressing climate change, preserving natural resources, reducing energy costs, enhancing energy security, and minimizing environmental pollution to foster a sustainable future. Energy-efficient water heaters play a pivotal role in achieving these objectives by reducing energy consumption, cutting utility bills, lowering greenhouse gas emissions, and promoting cost savings and environmental sustainability. For example, in May 2023, the US Energy Information Administration reported a 5% increase in US residential electricity bills in 2022, reaching $137 a month. This increase was influenced by elevated electricity usage due to extreme temperature fluctuations and higher fuel expenses for power generation. Therefore, the increasing emphasis on reducing energy consumption is expected to drive the growth of the water heaters market.

Water heater manufacturers are responding to the demand for energy-efficient products to reduce carbon footprints and enable energy savings for consumers. The push for energy-efficient appliances is driven by stringent government regulations on electric home appliances and technological advancements. Currently, more than 80 countries have established standards and labels for energy-efficient appliances. In the USA, an Energy Star certified water heater is estimated to save $3500 over its lifetime.

Major companies in the water heater market are introducing advanced technologies, exemplified by products such as the Otto and Orizzonte range of storage water heaters, to gain a competitive edge. These products, such as those launched by Havells in December 2022, offer unique designs, space-saving features, and precise water control. For instance, the Otto water heater features an exclusive circular design with a customizable temperature setting knob and a color-shifting LED indicator, while the Orizzonte model is a compact AC-type digital water heater designed for limited ceiling heights, incorporating a digital temperature display, energy-saving mode, touch control panel, wireless remote controller, and timer mode for precise heating duration settings.

In October 2021, A.O. Smith Corporation, a US-based manufacturer of residential and commercial water heaters and boilers, acquired Giant Factories, Inc. for $192 million in cash. This strategic acquisition aimed to strengthen A.O. Smith's leadership position as a global supplier of residential and commercial water heaters. Giant Factories, Inc., based in Canada, is a manufacturer of residential and commercial water heaters.

Major companies operating in the water heaters market report are A. O. Smith Corporation, Rinnai Corporation, Vaillant Group, Ariston Thermo Group, Rheem Manufacturing Company, Viessmann Group, Haier Smart Home Co., Ltd., Bradford White Corporation, Robert Bosch GmbH, Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Havells India Ltd., Taian Haoli Solar Energy Technology Co., Ltd., AquaWorld Group Co., Ltd., Changzhou XNE Technology Co., Ltd., Guangdong PHNIX Eco-Energy Solution Ltd., Siemens AG, Stiebel Eltron International GmbH, Telford Copper & Stainless Cylinders, Hamworthy Heating, Sun Ray, PBS Power Equipment, s.r.o., Enerstena Group, Petrojet Trade s.r.o., Druzstevni zavody Drazice company, Noritz Corporation, General Electric (GE), ATMOR, Kyungdong Navien Co.,Ltd., Viesmann Group, Whirlpool Corporation, Alfa Laval, Carrier Corporation, Apen Group, State Industries, American Water Heaters, EcoSmart US, Goodman, ABRAVA- DASOL, Aquecedor Solar Transsen Ltda., Br Solar, IEM – Intercambio Eletro Mecanico Ltda., Dana Water Heaters and Coolers Factory LLC, Al Khatib Electrical Water Heater Factory, Pure Blue International LLC, Solar Ray, Genersys South Africa, GoSolar CC, ITS Solar, Kwikot (Pty) Ltd.

Asia-Pacific was the largest region in the water heaters market in 2023. Western Europe was the second-largest region in the global water heaters market share. The regions covered in the water heaters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the water heaters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary product types of water heaters include solar heaters, electric heaters, gas and propane heaters, and geothermal heaters. A geothermal water heater is a component within a larger geothermal heat pump system that contributes to providing heated and cooled air for residential spaces. In a geothermal heat pump system, a water and antifreeze mixture circulates through loops buried in the ground to facilitate heating and cooling. Water heaters are distributed through various channels such as supermarkets/hypermarkets, specialty stores, e-commerce, and other distribution channels. These water heaters are utilized by residential, commercial, and industrial end-users.

The water heaters market research report is one of a series of new reports that provides water heaters market statistics, including water heaters industry global market size, regional shares, competitors with a water heaters market share, detailed water heaters market segments, market trends and opportunities, and any further data you may need to thrive in the water heaters industry. This water heaters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The water heaters market consists of sales of solar water heaters, electric water heaters, geothermal water heaters, and other water heaters. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Frequently Asked Questions about the Global Water Heaters Market

What is the estimated value of the Global Water Heaters Market?

The Global Water Heaters Market was estimated to be valued at $40.94 Billion in 2024.

What is the growth rate of the Global Water Heaters Market?

The growth rate of the Global Water Heaters Market is 9.1%, with an estimated value of $58.09 Billion by 2028.

What is the forecasted size of the Global Water Heaters Market?

The Global Water Heaters Market is estimated to be worth $58.09 Billion by 2028.

Who are the key companies in the Global Water Heaters Market?

Key companies in the Global Water Heaters Market include A. O. Smith Corporation, Rinnai Corporation, Vaillant Group, Ariston Thermo Group, Rheem Manufacturing Company, Viessmann Group, Haier Smart Home Co., Ltd., Bradford White Corporation, Robert Bosch GmbH and Bajaj Electricals Ltd.

Table of Contents

1. Executive Summary2. Water Heaters Market Characteristics3. Water Heaters Market Trends and Strategies
4. Water Heaters Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Water Heaters Market Size and Growth
5.1. Global Water Heaters Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Water Heaters Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Water Heaters Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Water Heaters Market Segmentation
6.1. Global Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Solar Heaters
  • Electric Heaters
  • Gas and Propane Heaters
  • Geothermal Heaters
6.2. Global Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Supermarket/Hypermarket
  • Specialty Stores
  • E-Commerce
  • Other Distribution Channels
6.3. Global Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Residential
  • Commercial
  • Industrial
7. Water Heaters Market Regional and Country Analysis
7.1. Global Water Heaters Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Water Heaters Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Water Heaters Market
8.1. Asia-Pacific Water Heaters Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Water Heaters Market
9.1. China Water Heaters Market Overview
9.2. China Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Water Heaters Market
10.1. India Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Water Heaters Market
11.1. Japan Water Heaters Market Overview
11.2. Japan Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Water Heaters Market
12.1. Australia Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Water Heaters Market
13.1. Indonesia Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Water Heaters Market
14.1. South Korea Water Heaters Market Overview
14.2. South Korea Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Water Heaters Market
15.1. Western Europe Water Heaters Market Overview
15.2. Western Europe Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Water Heaters Market
16.1. UK Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Water Heaters Market
17.1. Germany Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Water Heaters Market
18.1. France Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Water Heaters Market
19.1. Italy Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Water Heaters Market
20.1. Spain Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Water Heaters Market
21.1. Eastern Europe Water Heaters Market Overview
21.2. Eastern Europe Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Water Heaters Market
22.1. Russia Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Water Heaters Market
23.1. North America Water Heaters Market Overview
23.2. North America Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Water Heaters Market
24.1. USA Water Heaters Market Overview
24.2. USA Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Water Heaters Market
25.1. Canada Water Heaters Market Overview
25.2. Canada Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Water Heaters Market
26.1. South America Water Heaters Market Overview
26.2. South America Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Water Heaters Market
27.1. Brazil Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Water Heaters Market
28.1. Middle East Water Heaters Market Overview
28.2. Middle East Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Water Heaters Market
29.1. Africa Water Heaters Market Overview
29.2. Africa Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Water Heaters Market, Segmentation by Distribution channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Water Heaters Market Competitive Landscape and Company Profiles
30.1. Water Heaters Market Competitive Landscape
30.2. Water Heaters Market Company Profiles
30.2.1. A. O. Smith Corporation
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Rinnai Corporation
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Vaillant Group
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Ariston Thermo Group
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. Rheem Manufacturing Company
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Water Heaters Market Other Major and Innovative Companies
31.1. Viessmann Group
31.2. Haier Smart Home Co., Ltd.
31.3. Bradford White Corporation
31.4. Robert Bosch GmbH
31.5. Bajaj Electricals Ltd
31.6. Crompton Greaves Consumer Electricals Ltd.
31.7. Havells India Ltd.
31.8. Taian Haoli Solar Energy Technology Co., Ltd.
31.9. AquaWorld Group Co., Ltd.
31.10. Changzhou XNE Technology Co., Ltd.
31.11. Guangdong PHNIX Eco-Energy Solution Ltd.
31.12. Siemens AG
31.13. Stiebel Eltron International GmbH
31.14. Telford Copper & Stainless Cylinders
31.15. Hamworthy Heating
32. Global Water Heaters Market Competitive Benchmarking33. Global Water Heaters Market Competitive Dashboard34. Key Mergers and Acquisitions in the Water Heaters Market
35. Water Heaters Market Future Outlook and Potential Analysis
35.1 Water Heaters Market in 2028 - Countries Offering Most New Opportunities
35.2 Water Heaters Market in 2028 - Segments Offering Most New Opportunities
35.3 Water Heaters Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Water Heaters Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on water heaters market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for water heaters? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Product Type: Solar Heaters; Electric Heaters; Gas and Propane Heaters; Geothermal Heaters
2) By Distribution channel: Supermarket/Hypermarket; Specialty Stores; E-Commerce; Other Distribution Channels
3) By End-user: Residential; Commercial; Industrial

Key Companies Mentioned: A. O. Smith Corporation; Rinnai Corporation; Vaillant Group; Ariston Thermo Group; Rheem Manufacturing Company

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

A selection of companies mentioned in this report includes:

  • A. O. Smith Corporation
  • Rinnai Corporation
  • Vaillant Group
  • Ariston Thermo Group
  • Rheem Manufacturing Company
  • Viessmann Group
  • Haier Smart Home Co., Ltd.
  • Bradford White Corporation
  • Robert Bosch GmbH
  • Bajaj Electricals Ltd
  • Crompton Greaves Consumer Electricals Ltd.
  • Havells India Ltd.
  • Taian Haoli Solar Energy Technology Co., Ltd.
  • AquaWorld Group Co., Ltd.
  • Changzhou XNE Technology Co., Ltd.
  • Guangdong PHNIX Eco-Energy Solution Ltd.
  • Siemens AG
  • Stiebel Eltron International GmbH
  • Telford Copper & Stainless Cylinders
  • Hamworthy Heating
  • Sun Ray
  • PBS Power Equipment, s.r.o.
  • Enerstena Group
  • Petrojet Trade s.r.o.
  • Druzstevni zavody Drazice company
  • Noritz Corporation
  • General Electric (GE)
  • ATMOR
  • Kyungdong Navien Co.,Ltd.
  • Viesmann Group
  • Whirlpool Corporation
  • Alfa Laval
  • Carrier Corporation
  • Apen Group
  • State Industries
  • American Water Heaters
  • EcoSmart US
  • Goodman
  • ABRAVA- DASOL
  • Aquecedor Solar Transsen Ltda.
  • Br Solar
  • IEM – Intercambio Eletro Mecanico Ltda.
  • Dana Water Heaters and Coolers Factory LLC
  • Al Khatib Electrical Water Heater Factory
  • Pure Blue International LLC
  • Solar Ray
  • Genersys South Africa
  • GoSolar CC
  • ITS Solar
  • Kwikot (Pty) Ltd.

Methodology

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