The Global Water Heater Market was valued at $32,603 million in 2017 and is projected to reach at $48,519 million by 2025, growing at a CAGR of 5.1% from 2018 to 2025. A water heater is a heating device that uses energy from various external sources and transfers it to heat the water. It is mostly used for purposes such as bathing, cleaning, cooking, and space heating.
Water heater comes in various type such as gas-based water heater, instant water heaters, storage water heaters, and solar water heater. The selection of a proper water heater depends upon several important factors such as the type of building that it is to be installed into availability of fuel types requirements of the householder, storage and distribution temperature, fuel cost and efficiency of the system, installation and maintenance cost, and safety of the user.
Moreover, consumer inclination towards the adoption of energy efficient systems, favorable government subsidies encouraging the use of solar water heaters have boosted the growth of the water heater market. Furthermore, rise in number of hospitals and hotels, and increase in population and improved infrastructure in rural areas is anticipated to fuel the growth of the global water heater market. However, frequent outages and electricity shortage (in developing countries), technical issues, and rising electricity prices and high operating costs of electric water heaters may restrain the market growth.
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The report segments the global water heater market based on type, application, and distribution channel. By type, the market is divided into gas, instant, storage, and solar. Based on application, it is classified into commercial, residential, and industrial. By distribution, it is categorized into supermarket/hypermarket, specialty stores, e-commerce, and others.
The key players of the global water heater industry profiled in the report include: A. O. Smith Corporation, Ariston Thermo SPA, Bajaj Electricals Limited, Bradford White Corporation, Haier Electronics Group Co., Ltd, Noritz Corp, Rheem Manufacturing Company, Rinnai Corporation, Robert Bosch GmbH, and Venus Home Appliances (P) Ltd.
Water Heater Key Market Segments:
By Distribution channel
Others (Wholesalers, distributors)
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