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Water Heaters Global Market Opportunities and Strategies to 2033

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    Report

  • 315 Pages
  • May 2024
  • Region: Global
  • The Business Research Company
  • ID: 5969556
This report describes and explains the water heaters market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global water heaters market reached a value of nearly $59.1 billion in 2023, having grown at a compound annual growth rate (CAGR) of 8.2% since 2018. The market is expected to grow from $59.1 billion in 2023 to $89.2 billion in 2028 at a rate of 8.6%. The market is then expected to grow at a CAGR of 7% from 2028 and reach $125.4 billion in 2033.

Growth in the historic period resulted from rapid urbanization, the growing demand for instant heating units, the high investments in the consumer electronics industry and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period was shortage in electronic components supply and changing regulations.

Going forward, growth in residential and commercial construction activities, the rising disposable incomes per capita, surge in e-commerce and retail sales, fluctuations in energy prices such as electricity and gas will drive the growth. Factor that could hinder the growth of the water heaters market in the future include high initial cost of purchasing and installing energy-efficient water heating systems and limited availability of skilled technicians and contractors.

The water heaters market is segmented by product type into solar heaters, electric heaters, gas and propane heaters, geothermal heaters and other product types. The electric heaters market was the largest segment of the water heaters market segmented by product type, accounting for 52.2% or $30.9 billion of the total in 2023. Going forward, the solar heaters segment is expected to be the fastest growing segment in the water heaters market segmented by product type, at a CAGR of 10.2% during 2023-2028.

The water heaters market is segmented by distribution channel into supermarket/hypermarket, specialty stores, e-commerce and other distribution channels. The specialty stores market was the largest segment of the water heaters market segmented by distribution channel, accounting for 45.4% or $26.8 billion of the total in 2023. Going forward, the e-commerce segment is expected to be the fastest growing segment in the water heaters market segmented by distribution channel, at a CAGR of 10.1% during 2023-2028.

The water heaters market is segmented by end user into residential, commercial and industrial. The residential market was the largest segment of the water heaters market segmented by end user, accounting for 51.7% or $30.5 billion of the total in 2023. Going forward, the commercial segment is expected to be the fastest growing segment in the water heaters market segmented by end user, at a CAGR of 9.2% during 2023-2028.

Asia Pacific was the largest region in the water heaters market, accounting for 34.9% or $20.6 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the water heaters market will be Middle East and Asia Pacific where growth will be at CAGRs of 9.7% and 9.4% respectively. These will be followed by Africa and South America where the markets are expected to grow at CAGRs of 9.4% and 9.2% respectively.

The global water heaters market is fragmented, with a large number of players in the market. The top ten competitors in the market made up to 16% of the total market in 2022. A. O. Smith Corporation was the largest competitor with a 5% share of the market, followed by Rinnai Corporation with 3.6%, Vaillant Group with 2.1%, Rheem Manufacturing Company with 1%, Ariston Thermo Group with 0.9%, Viessmann Group with 0.9%, Haier Smart Home Co., Ltd. with 0.8%, NORITZ Corporation with 0.6%, Bradford White Corporation with 0.6% and Robert Bosch GmbH with 0.4%.

The top opportunities in the water heaters market segmented by product type will arise in the electric heaters segment, which will gain $16.3 billion of global annual sales by 2028. The top opportunities in the water heaters market segmented by distribution channel will arise in the specialty stores segment, which will gain $14 billion of global annual sales by 2028. The top opportunities in the water heaters market segmented by end user will arise in the residential segment, which will gain $15.4 million of global annual sales by 2028. The water heaters market size will gain the most in the USA at $6.6 billion.

Market-trend-based strategies for the water heaters market include new product launches to cater to diverse applications, strategic partnerships and acquisitions to drive market dominance, integration of Wi-Fi control for unprecedented convenience and energy management, launch of solar powered water heaters to transform the home energy landscape and focus on the development of tankless heat pump water heaters.

Player-adopted strategies in the water heaters market include focus on strengthening product portfolio by acquiring companies within the same line of business, focus on enhancing business capabilities through the launch of new products, focus on strengthening market position through product expansions and focus on strengthening market position through strategic partnerships.

To take advantage of the opportunities, the analyst recommends water heaters companies to focus on innovation and product diversification, focus on integrating Wi-Fi control capabilities, focus on sustainable solar-powered solutions, focus on tankless heat pump water heaters, focus on solar heaters, expand in emerging markets, continue to focus on developed markets, focus on e-commerce, focus on competitive pricing, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital marketing channels, focus on customer education and engagement and focus on commercial end-users.

Table of Contents

1 Executive Summary
1.1 Water Heaters - Market Attractiveness and Macro Economic Landscape
2 Table of Contents3 List of Tables4 List of Figures5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Water Heaters Market Definition and Segmentations
6.4 Market Segmentation by Product Type
6.4.1 Solar Heaters
6.4.2 Electric Heaters
6.4.3 Gas and Propane Heaters
6.4.4 Geothermal Heaters
6.4.5 Other Product Types
6.5 Market Segmentation by Distribution Channel
6.5.1 Supermarket/Hypermarket
6.5.2 Specialty Stores
6.5.3 E-Commerce
6.5.4 Other Distribution Channels
6.6 Market Segmentation by End User
6.6.1 Residential
6.6.2 Commercial
6.6.3 Industrial
7 Major Market Trends
7.1 New Product Launches to Cater to Diverse Applications
7.2 Strategic Partnerships and Acquisitions to Drive Market Dominance
7.3 Integration of Wi-Fi Control for Unprecedented Convenience and Energy Management
7.4 Launch of Solar Powered Water Heaters to Transform the Home Energy Landscape
7.5 Focus on the Development of Tankless Heat Pump Water Heaters
8 Water Heaters Market - Macro Economic Scenario
8.1 COVID-19 Impact on the Water Heaters Market
8.2 Impact of the War in Ukraine on the Water Heaters Market
8.3 Impact of High Inflation on the Water Heaters Market
9 Global Market Size and Growth
9.1 Market Size
9.2 Historic Market Growth, 2018-2023, Value ($ Million)
9.2.1 Market Drivers 2018-2023
9.2.2 Market Restraints 2018-2023
9.3 Forecast Market Growth, 2023-2028, 2033F Value ($ Million)
9.3.1 Market Drivers 2023-2028
9.3.2 Market Restraints 2023-2028
10 Global Water Heaters Market Segmentation
10.1 Global Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
10.2 Global Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
10.3 Global Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
11 Water Heaters Market, Regional and Country Analysis
11.1 Global Water Heaters Market, by Region, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
11.2 Global Water Heaters Market, by Country, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12 Asia-Pacific Market
12.1 Summary
12.1.1 Market Overview
12.1.2 Region Information
12.1.3 Market Information
12.1.4 Background Information
12.1.5 Government Initiatives
12.1.6 Regulations
12.1.7 Regulatory Bodies
12.1.8 Major Associations
12.1.9 Taxes Levied
12.1.10 Corporate Tax Structure
12.1.11 Investments
12.1.12 Major Companies
12.2 Asia-Pacific Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.3 Asia-Pacific Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.4 Asia-Pacific Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.5 Asia-Pacific Water Heaters Market: Country Analysis
12.6 China Market
12.7 Summary
12.7.1 Market Overview
12.7.2 Country Information
12.7.3 Market Information
12.7.4 Background Information
12.7.5 Government Initiatives
12.7.6 Regulations
12.7.7 Regulatory Bodies
12.7.8 Major Associations
12.7.9 Taxes Levied
12.7.10 Corporate Tax Structure
12.7.11 Investments
12.7.12 Major Companies
12.8 China Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.9 China Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.1 China Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.11 India Market
12.12 India Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.13 India Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.14 India Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.15 Japan Market
12.16 Japan Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.17 Japan Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.18 Japan Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.19 Australia Market
12.2 Australia Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.21 Australia Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.22 Australia Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.23 Indonesia Market
12.24 Indonesia Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.25 Indonesia Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.26 Indonesia Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.27 South Korea Market
12.28 South Korea Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.29 South Korea Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
12.3 South Korea Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13 Western Europe Market
13.1 Summary
13.1.1 Market Overview
13.1.2 Region Information
13.1.3 Market Information
13.1.4 Background Information
13.1.5 Government Initiatives
13.1.6 Regulations
13.1.7 Regulatory Bodies
13.1.8 Major Associations
13.1.9 Taxes Levied
13.1.10 Corporate Tax Structure
13.1.11 Investments
13.1.12 Major Companies
13.2 Western Europe Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.3 Western Europe Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.4 Western Europe Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.5 Western Europe Water Heaters Market: Country Analysis
13.6 UK Market
13.7 UK Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.8 UK Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.9 UK Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.1 Germany Market
13.11 Germany Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.12 Germany Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.13 Germany Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.14 France Market
13.15 France Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.16 France Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.17 France Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.18 Italy Market
13.19 Italy Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.2 Italy Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.21 Italy Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.22 Spain Market
13.23 Spain Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.24 Spain Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
13.25 Spain Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
14 Eastern Europe Market
14.1 Summary
14.1.1 Market Overview
14.1.2 Region Information
14.1.3 Market Information
14.1.4 Background Information
14.1.5 Government Initiatives
14.1.6 Regulations
14.1.7 Regulatory Bodies
14.1.8 Major Associations
14.1.9 Taxes Levied
14.1.10 Corporate Tax Structure
14.1.11 Investments
14.1.12 Major Companies
14.2 Eastern Europe Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
14.3 Eastern Europe Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
14.4 Eastern Europe Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
14.5 Eastern Europe Water Heaters Market: Country Analysis
14.6 Russia Market
14.7 Russia Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
14.8 Russia Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
14.9 Russia Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15 North America Market
15.1 Summary
15.1.1 Market Overview
15.1.2 Region Information
15.1.3 Market Information
15.1.4 Background Information
15.1.5 Government Initiatives
15.1.6 Regulations
15.1.7 Regulatory Bodies
15.1.8 Major Associations
15.1.9 Taxes Levied
15.1.10 Corporate Tax Structure
15.1.11 Investments
15.1.12 Major Companies
15.2 North America Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.3 North America Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.4 North America Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.5 North America Water Heaters Market: Country Analysis
15.6 USA Market
15.7 Summary
15.7.1 Market Overview
15.7.2 Country Information
15.7.3 Market Information
15.7.4 Background Information
15.7.5 Government Initiatives
15.7.6 Regulations
15.7.7 Regulatory Bodies
15.7.8 Major Associations
15.7.9 Taxes Levied
15.7.10 Corporate Tax Structure
15.7.11 Investments
15.7.12 Major Companies
15.8 USA Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.9 USA Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.1 USA Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.11 Canada Market
15.12 Canada Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.13 Canada Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
15.14 Canada Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
16 South America Market
16.1 Summary
16.1.1 Market Overview
16.1.2 Region Information
16.1.3 Market Information
16.1.4 Background Information
16.1.5 Government Initiatives
16.1.6 Regulations
16.1.7 Regulatory Bodies
16.1.8 Major Associations
16.1.9 Taxes Levied
16.1.10 Corporate Tax Structure
16.1.11 Investments
16.1.12 Major Companies
16.2 South America Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
16.3 South America Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
16.4 South America Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
16.5 South America Water Heaters Market: Country Analysis
16.6 Brazil Market
16.7 Brazil Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
16.8 Brazil Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
16.9 Brazil Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
17 Middle East Market
17.1 Summary
17.1.1 Market Overview
17.1.2 Region Information
17.1.3 Market Information
17.1.4 Background Information
17.1.5 Government Initiatives
17.1.6 Regulations
17.1.7 Regulatory Bodies
17.1.8 Major Associations
17.1.9 Taxes Levied
17.1.10 Corporate Tax Structure
17.1.11 Investments
17.1.12 Major Companies
17.2 Middle East Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
17.3 Middle East Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
17.4 Middle East Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
18 Africa Market
18.1 Summary
18.1.1 Market Overview
18.1.2 Region Information
18.1.3 Market Information
18.1.4 Background Information
18.1.5 Government Initiatives
18.1.6 Regulations
18.1.7 Regulatory Bodies
18.1.8 Major Associations
18.1.9 Taxes Levied
18.1.10 Corporate Tax Structure
18.1.11 Investments
18.1.12 Major Companies
18.2 Africa Water Heaters Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
18.3 Africa Water Heaters Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
18.4 Africa Water Heaters Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Million)
19 Competitive Landscape and Company Profiles
19.1 Company Profiles
19.2 a. O. Smith Corporation
19.2.1 Company Overview
19.2.2 Products and Services
19.2.3 Business Strategy
19.2.4 Financial Overview
19.3 Rinnai Corporation
19.3.1 Company Overview
19.3.2 Products and Services
19.3.3 Business Strategy
19.3.4 Financial Overview
19.4 Vaillant Group
19.4.1 Company Overview
19.4.2 Products and Services
19.4.3 Business Strategy
19.4.4 Financial Overview
19.5 Rheem Manufacturing Company
19.5.1 Company Overview
19.5.2 Products and Services
19.5.3 Business Strategy
19.5.4 Financial Overview
19.6 Ariston Thermo Group
19.6.1 Company Overview
19.6.2 Products and Services
19.6.3 Business Strategy
19.6.4 Financial Overview
20 Other Major and Innovative Companies
20.1 Viessmann Group
20.1.1 Company Overview
20.1.2 Products and Services
20.2 Haier Smart Home Co., Ltd.
20.2.1 Company Overview
20.2.2 Products and Services
20.3 NORITZ Corporation
20.3.1 Company Overview
20.3.2 Products and Services
20.4 Bradford White Corporation
20.4.1 Company Overview
20.4.2 Products and Services
20.5 Robert Bosch GmbH
20.5.1 Company Overview
20.5.2 Products and Services
20.6 Westinghouse Electric Corporation
20.6.1 Company Overview
20.6.2 Products and Services
20.7 Havells India Ltd
20.7.1 Company Overview
20.7.2 Products and Services
20.8 American Water Heaters
20.8.1 Company Overview
20.8.2 Products and Services
20.9 Lennox International Inc.
20.9.1 Company Overview
20.9.2 Products and Services
20.1 Daikin
20.10.1 Company Overview
20.10.2 Products and Services
20.11 Navien, Inc.
20.11.1 Company Overview
20.11.2 Products and Services
20.12 Andrewes Water Heaters (Baxi Heating)
20.12.1 Company Overview
20.12.2 Products and Services
20.13 Bajaj Electricals Ltd
20.13.1 Company Overview
20.13.2 Products and Services
20.14 Kenmore
20.14.1 Company Overview
20.14.2 Products and Services
20.15 FERROLI S.p.A
20.15.1 Company Overview
20.15.2 Products and Services
21 Competitive Benchmarking22 Competitive Dashboard
23 Key Mergers and Acquisitions
23.1 Watts Water Technologies Acquired Josam Company
23.2 Laars Heating Systems Acquired Electro Industries Inc
23.3 Watts Water Technologies Acquired Bradley Corp
23.4 AqueoUS Vets Acquired Dixie Tank Company
23.5 Nudyne Group LLC Acquired Warren Electric Corporation
23.6 Welspun Acquired Sintex
23.7 Enercare Acquired HydroSolution
23.8 a. O. Smith Corporation Acquired Atlantic Filter Corporation Acquired
23.9 Rheem Manufacturing Co Acquired Dejong from Nordian Capital
23.1 Viessmann Group Acquired Pacifica Home Services Ltd. (PHS)
23.11 HEH Holdings LLC Acquired Richmond Engineering Company
23.12 Ariston Group Acquired Chromagen
23.13 a.O. Smith Acquired Giant Factories, Inc.
23.14 Rinnai America Corporation Acquired Industrias MASS
23.15 Bradford White Purchased Keltech, Inc. From Bradley Corporation.
24 Opportunities and Strategies
24.1 Global Water Heaters Market in 2028 - Countries Offering Most New Opportunities
24.2 Global Water Heaters Market in 2028 - Segments Offering Most New Opportunities
24.3 Global Water Heaters Market in 2028 - Growth Strategies
24.3.1 Market Trend Based Strategies
24.3.2 Competitor Strategies
25 Water Heaters Market, Conclusions and Recommendations
25.1 Conclusions
25.2 Recommendations
25.2.1 Product
25.2.2 Place
25.2.3 Price
25.2.4 Promotion
25.2.5 People
26 Appendix
26.1 Geographies Covered
26.2 Market Data Sources
26.3 Research Methodology
26.4 Currencies
26.5 About the Analyst
26.6 Copyright and Disclaimer

Executive Summary

Water Heaters Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global water heaters market as it emerges from the COVID-19 shut down.

Reasons to Purchase:

  • Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
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  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
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  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.

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? The water heaters market global 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 history and forecasts market growth by geography. It places the market within the context of the wider water heaters market; and compares it with other markets.

The report covers the following chapters:

  • Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type, by distribution channel and by end user.
  • Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
  • Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the water heaters market.
  • Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
  • Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
  • Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product type, by distribution channel and by end user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
  • Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
  • Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
  • Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
  • Competitive Dashboard - Briefs on competitive dashboard of major players.
  • Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
  • Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
  • Conclusions and Recommendations - This section includes recommendations for water heaters providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
  • Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.

Markets Covered:

1) by Product Type: Solar Heaters; Electric Heaters; Gas and Propane Heaters; Geothermal Heaters; Other Product Types.
2) by Distribution Channel: Supermarket/Hypermarket; Specialty Stores; E-Commerce; Other Distribution Channels.

v3) by End User: Residential; Commercial; Industrial

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

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

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; water heaters indicators comparison.

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.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • A. O. Smith Corporation
  • Rinnai Corporation
  • Vaillant Group
  • Rheem Manufacturing Company
  • Ariston Thermo Group.
  • Viessmann Group.
  • Haier Smart Home Co., Ltd.
  • NORITZ Corporation
  • Bradford White Corporation
  • Robert Bosch GmbH
  • Bajaj Electricals Ltd.
  • Crompton Greaves Consumer Electricals Ltd.
  • Havells India Ltd.
  • Siemens AG
  • Viessmann Werke GmbH & Co. KG
  • 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
  • General Electric
  • Havells
  • ATMOR
  • Stiebel Eltron GmbH & Co. KG.
  • Kyungdong Navien Co.,Ltd.
  • Haier Electronics Group Co, Ltd
  • Viesmann Group
  • Whirlpool Corporation
  • Alfa Laval
  • Whirlpool
  • Carrier Corporation
  • Apen Group
  • State Industries
  • Bradford White
  • 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
  • SunTank Solar Water Heating

Methodology

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Table Information