U.S. Water Heater Market Research Report

U.S. Water Heater Market - Industry Outlook & Forecast 2021-2026

PUBLISHED DATE : Oct 2021 | Pages : 191

Up to $525 off Until Oct 2021

THE U.S. WATER HEATER MARKET SIZE WAS VALUED AT USD 3,129.54 MILLION IN 2020 AND IS EXPECTED TO REACH USD 4,167.68 MILLION BY GROWING AT A CAGR OF 4.89% DURING THE FORECAST PERIOD.

The U.S. Water Heater Market Share, Size & Trends Analysis by Product Type (Gas & Oil, Electric, Heat Pump, and Solar), by Category (Storage and Instant), By Distribution Channel (Offline and Online), By End User (Residential and Commercial), and by Geography (Midwest, Northeast, South, and West) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026.

GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Download Free Sample

Most Exhaustive Report

191 Pages

75 Tables

69 Charts

4 Regions

1 Countries

17 Companies

5 Market Segment

U.S. WATER HEATER MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 4,167.68 MILLION (2026)
CAGR 4.89% (2026)
BASE YEAR 2020
FORECAST YEAR 2021-2026
MARKET SEGMENTS By Product Type (Gas & Oil, Electric, Heat Pump, and Solar), By Category (Storage and Instant), By Distribution Channel (Offline and Online), By End User (Residential and Commercial)
GEOGRAPHIC ANALYSIS Midwest, Northeast, South, West
COUNTRIES COVERED US

US WATER HEATER MARKET OVERVIEW

The U.S. water heater market size was valued at USD 3,129.54 million in 2020 and is expected to reach USD 4,167.68 million by 2026 growing at a CAGR of 4.89% during the forecast period. The US water heater market is growing significantly due to the increasing demand for hot water for various chores such as laundry, cleaning, shower, cooking, and others. Multiple factors such as the growing inclination of the country’s population towards energy-efficient applications products and continuous innovation by various vendors to launch heaters with advanced features in the industry are likely to further add to the revenue of water heater vendors operating in the US market.

KEY HIGHLIGHTS

  • In 2020, the gas & oil water heaters generated the highest revenue of USD 1,305.29 million and are expected to grow at a CAGR of 4.08%.
  • Heat pump water heaters are increasingly gaining momentum as these are highly efficient as compared to electric and conventional gas water heaters. 
  • Several commercial spaces such as hotels, hospitals, resorts, and restaurants have tremendously contributed to the growth of the commercial water heater market in the US. 
  • The residential sector holds a share of 66.35% and is leading the end-user segment due to several single-family and multi-family housing units. 
  • Midwest and Northeast regions are generating the highest revenue for the heater market in the United States due to the huge population in the Midwestern states and cold climate in these areas.
  • In July 2021, Bradford white, a water heater manufacturing company, launched a tankless water heater that includes integrated flush ports, digital controls, technology that helps maintain constant water temperature, field gas conversion, Venting and modulation, and others.
      

US WATER HEATER MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Product Type
  • Category
  • Distribution Channel
  • End-User

US WATER HEATER MARKET SEGMENTS

  • Electric water heaters held the second-highest share of 39.24% in 2020. The low cost of purchase and easy installation is driving the demand for these water heaters. 
  • Storage water heaters held a share of 74.91% in 2020 and dominated the water heater market in the US. The high penetration of these water heaters is attributed to their low purchase and installation cost.  
  • The online distribution channel holds a relatively lower share in the market but is expected to grow at the highest CAGR of 5.61% during the forecast period. The proliferation of e-commerce and raising awareness of the benefits of online purchases, such as heavy discounts, occasional offers, and rising demand for convenience, is driving the growth of the online segment.
  • In 2020, the residential water heater emerged as one of the significant contributors and accounted for a revenue share of 66.35%. The rising demand for single-family housing units leads to the rapid growth in new family homes in the US. 

GEOGRAPHICAL ANALYSIS

  • Midwest: Technological advancement and growing inclination towards smart appliances that restricts carbon emissions are likely to support the growth of the water heater industry in the region. 
  • Northeast: New York, Pennsylvania, New Jersey, and Massachusetts are expected to generate the highest demand for water heaters. This is due to the huge population base supported by high median disposable income. Around 80% of the population in New York City have access to smartphones, and more than 70% have access to high-speed Internet at home. These factors are likely to propel the demand for smart water heaters in the region. 
  • South: In 2020, more than 3,92,000 homes were sold in Texas, which led to a rise in demand for these products in the industry.

VENDOR ANALYSIS

  • The key players in the US water heater industry are O. Smith, Bradford White, and Rheem Manufacturing.
  • The scope for product differentiation is low in the market. Quality, price, and after-sales services are decisive variables affecting the sales of water heaters in the US.
  • Vendors can tap into the tremendous growth opportunities by targeting the rental home market.

The U.S. water heater market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Product Type

  • Gas & Oil
  • Electric
  • Heat Pump
  • Solar

Category

  • Storage
  • Instant

Distribution Channel

  • Offline
  • Online

End-User

  • Residential
  • Commercial

Geography

  • Midwest
  • Northeast
  • South
  • West

Frequently Asked Questions

The US water heater market was valued at USD 3,129.54 million in 2020 and is expected to reach USD 4,167.68 million by 2026.
The continuous innovation & development of water heaters with digital controls is expected to be a big opportunity for vendors in the US water heater industry.
The factors affecting the growth of the water heater manufacturing industry in the US are growing traction for smart water heaters, the emergence of hybrid water heaters, and growth in the commercial sector, etc.
Storage water heater due to the cost advantage that it carries over instant water heaters in terms of upfront cost, installation cost, and repair and maintenance cost is contributing to its highest share in the market.
The key players in the US water heater industry are A.O. Smith, Bradford White, and Rheem Manufacturing.
Download Free Sample
Read More

Select a license type that suits your business needs

Single User Licence
$3375.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5 User Licence
$3825.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Corporate Licence
$4725.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Datasheet Licence
$1350.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

Select a license type that suits your business needs

Best Value Tag
Coming Soon
  • Stay tuned with us.

YOU CAN GET A FREE SAMPLE OF THIS REPORT!

Fill out your details & get your free sample

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Our Clients

10%

Off

FLASH SALE

DAYS

HOURS

MINUTES

SECONDS

Licence Types What are these?

Our Clients Speak

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date