Water Heater Market - Global Outlook & Forecast 2024-2029

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THE GLOBAL WATER HEATER MARKET SIZE IS EXPECTED TO REACH USD 33.37 BILLION BY 2029 FROM USD 20.93 BILLION IN 2023, GROWING AT A CAGR OF 8.08% DURING THE FORECAST PERIOD.

The Water Heater Market Size, Share, & Trends Analysis Report By

  • Product: Electric, Gas & Oil, Heat Pumps, and Solar
  • Category: Storage and Instant
  • End-user: Residential and Commercial
  • Distribution Channel: Offline and Online
  • Geography: North America, Europe, APAC, Latin America, and Middle East & Africa

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024–2029.

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GLOBAL WATER HEATER MARKET REPORT SCOPE

REPORT ATTRIBUTEDETAILS
Market Size (2029)USD 33.37 Billion
Market Size (2023)USD 20.93 Billion
CAGR (2023-2029)8.08%
HISTORIC YEAR2020-2022
BASE YEAR2023
FORECAST YEAR2024-2029
SEGMENTS BYProduct, Category, End-user, Distribution Channel, and Geography
GEOGRAPHIC ANALYSIS North America, Europe, APAC, Latin America, and Middle East & Africa
KEY PLAYERSA.O. Smith, Haier, and Midea
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MARKET OVERVIEW

The global water heater market was valued at USD 20.93 billion in 2023 and is expected to reach USD 33.37 billion by 2029, growing at a CAGR of 8.08% during the forecast period. The market is experiencing growth driven by several key factors, including climate considerations, such as colder regions requiring reliable hot water supply, significantly stimulating demand. The surge in housing construction projects worldwide also increases demand for water heaters in new residential units. Rising living standards, particularly in emerging economies, lead to greater adoption of modern amenities like water heaters. Furthermore, government initiatives promoting energy efficiency and renewable energy sources further bolster the market by incentivizing the adoption of eco-friendly water heating solutions. Moreover, the water heater market encompasses producing, selling, and distributing devices designed to heat water for domestic and industrial use. This includes diverse products, from traditional storage tanks powered by electricity, gas, or solar energy to point-of-use instant heaters and tankless water heaters. The market involves manufacturers, suppliers, and retailers providing efficient and reliable water heating solutions to residential and commercial customers. Various factors affecting the market include technological advancements, urbanization, energy efficiency, regulatory standards, and consumer preferences for sustainable and cost-effective water heating products.

MARKET TRENDS & OPPORTUNITIES

Rise of Grid-Interactive Water Heater
Grid-interactive water heaters (GIWHs) are revolutionizing the water heater industry by offering more than just hot water. Equipped with two-way grid communication abilities, GIWHs enable load shifting, making demand for hot water follow renewable energy supply. This flexibility ensures efficient use of zero-carbon electricity and supports grid stability by smoothing out demand peaks and valleys. The water heater market transforms as virtual power plants (VPPs) incorporate GIWHs into their portfolios. These aggregated GIWHs act as a fleet of batteries, absorbing excess energy from the grid to power end uses later in the day.

Rising Demand for the Replacement of Conventional Water Heaters With Advanced Systems
The market for advanced water heating systems is experiencing a significant surge in demand as consumers increasingly seek more efficient and environmentally friendly alternatives to conventional water heaters. This shift is driven by several factors, including growing awareness of energy conservation, stricter regulations on energy efficiency, and the desire for long-term cost savings. Advanced water heating technologies such as heat pump water heaters, solar water heaters, and tankless water heaters offer compelling benefits over traditional systems.

INDUSTRY RESTRAINTS

An Alternative of Water Heater
The water heater industry is vast and diverse, with various options available to consumers depending on their needs and preferences. While traditional electric or gas water heaters are widely used in residential and commercial settings, alternative options such as wood-fired water heaters, immersion rods, and boilers in industries like food and beverage offer different advantages and cater to specific requirements. Wood-fired water heaters have been utilized for centuries, particularly in rural areas where access to electricity or gas may be limited or expensive. These heaters operate by burning wood to heat water, providing a cost-effective and environmentally friendly solution.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT
The global water heater market by product is segmented into electric, gas & oil, heat pumps, and solar. In 2023, the electric segment emerged as the leading revenue generator in the product segment. This dominance is projected to continue, with a forecasted CAGR of over 8.38%. The key drivers fueling demand within this segment include fluctuating energy prices, stringent government regulations, and the regular replacement cycle for electric equipment. These factors collectively highlight the sustained growth trajectory of the electric segment, reflecting its pivotal role in the market landscape.

Furthermore, the solar water heater segment exhibited the fastest growth in the water heater market during the forecast period. The demand for solar water heaters increases due to Environmental Awareness, government subsidies, energy efficiency regulations, and urbanization. The heightened environmental awareness has led consumers and businesses to seek sustainable alternatives to traditional energy sources. Solar water heaters are a clean and renewable energy solution that perfectly aligns with this trend, driving their adoption. Secondly, government subsidies and incentives aimed at promoting renewable energy adoption have played a pivotal role in bolstering the market for solar water heaters.

INSIGHTS BY CATEGORY
The global water heater market by category is segmented into storage and instant. In 2023, the storage segment accounted for the highest share and exhibited a CAGR of more than 7.70% during the forecast period. The demand for storage water heaters is driven by several factors, such as population growth and urbanization, which play a significant role. As urban areas expand and populations increase, the demand for residential and commercial water heating solutions rises accordingly. With their ability to provide hot water on demand, storage water heaters meet the needs of households, businesses, and institutions in densely populated areas. Moreover, lifestyle preferences and comfort standards influence the demand for storage water heaters.

INSIGHTS BY END-USER
The global water heater market by end-user is segmented into residential and commercial. The residential segment has the highest share of the market. Several factors, including changes in housing trends, economic development, and housing permits, drive the demand for water heaters within the residential segment. With rising incomes, more households can afford modern amenities like water heaters, driving demand. Trends such as increased preference for larger homes, multiple bathrooms, or spa-like amenities in bathrooms can lead to greater demand for water heaters capable of meeting higher hot water demands. In colder regions, water heaters may have a higher demand as residents require more hot water for space heating or for maintaining comfortable living conditions during cold weather.

INSIGHTS BY DISTRIBUTION CHANNEL
The offline distribution channel segment held the highest global water heater market share in 2023. This growth is attributed to several demand-driving factors. Local marketing initiatives like targeted advertising campaigns and community engagement have raised awareness and captured consumers' attention. Additionally, robust after-sales support services have contributed to customer satisfaction and loyalty, further bolstering offline sales. Moreover, potential buyers can physically inspect the product, assess its quality, and receive personalized assistance from sales representatives. This hands-on experience often instills consumer confidence, leading to higher conversion rates.

GEOGRAPHICAL ANALYSIS

The demand for water heaters in North America is increasing, primarily driven by a growing emphasis on energy efficiency and the need for replacements. Canada is one of the fastest-growing regions during the forecast period, while the U.S. dominates in revenue share, fueled by technological advancements and the presence of numerous manufacturers. Furthermore, APAC held the largest global water heater market share, accounting for a global revenue share of over 34% in 2023. Across the APAC, increasing disposable incomes and a shift towards sustainability are key drivers. China and India emerged as major contributors to water heater revenue, spurred by rapid urbanization and government subsidies. Population growth, economic expansion, and regulatory factors in Europe propel the water heater industry growth. Latin America is experiencing a surge in demand, particularly due to tourism and hotel construction, with Argentina emerging as the fastest-growing nation thanks to robust economic growth. Lastly, residential construction and infrastructure development are significant drivers of water heater demand in the Middle East and Africa. 

COMPETITIVE LANDSCAPE

The global water heater market is characterized by several key factors that influence the dynamics within the industry. Moreover, various types of water heaters are available in the market, including tankless, storage tanks, heat pumps, and solar water heaters, each catering to different consumer needs and preferences. Further, there has been a growing emphasis on energy efficiency and sustainability, leading to increased demand for eco-friendly water heating solutions. This trend has propelled companies to innovate and develop more energy-efficient models, incorporating heat pumps and solar panels to reduce carbon footprint and energy consumption.

Recent Vendor Activities in the Global Water Heater Market

  • In 2023, Eccotemp introduced the SH22 Smart Home Tankless Water Heater Series, pioneering voice command functionality via Alexa & Google, revolutionizing water heating. With the Eccotemp Smart App, users can customize settings, monitor energy usage, and receive maintenance alerts, optimizing efficiency and convenience. The series offers versatile performance, with on-demand hot water for up to three bathrooms, flexible fuel options, and indoor/outdoor installation capabilities. Safety is ensured with CSA certification and a robust warranty feature. Through this, the company increases its product portfolio, driving business growth in the water heater industry.
  • In 2021, A.O. Smith acquired Giant, a Canadian water heater manufacturer, to expand their international presence and increase their profitability in the market.

Frequently Asked Questions

How big is the water heater market?

The global water heater market was valued at USD 20.93 billion in 2023 and is expected to reach USD 33.37 billion by 2029.

What is the growth rate of the global water heater market?

The global water heater market is expected to grow at a CAGR of 8.08% from 2023 to 2029.

What are the significant trends in the water heater industry?

The rising popularity of tankless water heaters, growing demand for smart water heaters, increased demand for hybrid water heaters, and rise of grid-interactive water heaters are significant trends in the water heater industry.

Who are the key players in the global water heater market?

A.O. Smith, Haier, and Midea are the key players in the global water heater market.

The global water heater market size is expected to grow at a CAGR of approximately 8.08% from 2023 to 2029.

The following factors are likely to contribute to the growth of the global water heater market during the forecast period:

  • Technological Advancements Products
  • Increasing Construction Activities
  • Government Subsidies on Water Heaters
  • The Rising Demand for Replacement of Conventional Water Heaters with Advanced Systems

Base Year: 2023

Forecast Year: 2024-2029

The report considers the present scenario of the global water heater market and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Key Company Profiles

  • A.O. Smith
    • Business Overview
    • Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • Haier
  • Midea

Strong Competitors

  • Ariston Thermo
    • Business Overview
    • Product Offerings
  • Key Strengths
  • Key Strategies
  • Key Opportunities
  • Bradford White Corporation
  • Rheem Manufacturing Company 
  • Rinnai Corporation

Other Prominent Vendors

  • Apricus Solar
    • Business Overview
    • Product Offerings
  • Alternate Energy Technologies
  • Bock Water Heaters
  • Bromic Plumbing & Gas
  • Bajaj Electricals
  • BSH Home Appliances
  • Crompton Greaves Consumer Electricals Limited
  • Eccotemp
  • Efficient Technology Sales
  • Electrolux
  • FERROLI S.p.A
  • GROUPE ATLANTIC
  • Guangdong Vanward New Electric
  • Heliodyne
  • Hubbell Water Heaters
  • Havells India
  • Himin Solar
  • Intellihot
  • Jaquar India
  • Jiaxing Jinyi Solar Energy Technology
  • Kingspan
  • Kenmore
  • Lennox International
  • MACRO
  • Navien Inc.
  • Noritz America Corporation
  • Linuo Ritter International
  • Lorenzetti S.A.
  • Orient Electric
  • Robert Bosh
  • RECO
  • Sioux Corporation
  • SunMaxx Solar
  • SunEarth
  • SANDEN International
  • Sakura
  • Stiebel Eltron
  • TekSupply
  • Viessmann Manufacturing Company
  • VENUS HOME APPLIANCES
  • V-GUARD INDUSTRIES
  • Watts Water Technologies
  • Westinghouse Electric Company
  • Whirlpool
  • Wagner Solar
  • Zytech Solar

Segmentation by Product

  • Electric
  • Gas & Oil
  • Heat Pumps
  • Solar

Segmentation by Category

  • Storage
  • Instant

Segmentation by End-User

  • Residential
  • Commercial

Segmentation by Distribution Channel

  • Offline
  • Online

Segmentation by Geography

  • APAC
    • China
    • India
    • Japan
    • Philippines
    • South Korea
    • Australia
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
  • North America
    • The U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • South Africa
    • Egypt

EXHIBIT 1    MARKET SIZE CALCULATION APPROACH (2023)
EXHIBIT 2    KEY REGIONAL INCREMENTAL GROWTH
EXHIBIT 3    GLOBAL TOP EXPORTERS OF INSTANTANEOUS GAS WATER HEATERS2021 (MILLION)
EXHIBIT 4    IMPACT OF RISING POPULARITY OF TANKLESS WATER HEATERS
EXHIBIT 5    IMPACT OF GROWING DEMAND FOR SMART WATER HEATERS
EXHIBIT 6    BENEFITS OF SMART WATER HEATER
EXHIBIT 7    IMPACT OF INCREASED DEMAND FOR HYBRID WATER HEATERS
EXHIBIT 8    IMPACT OF RISE OF GRID INTERACTIVE WATER HEATER
EXHIBIT 9    IMPACT OF TECHNOLOGICAL ADVANCES PRODUCTS
EXHIBIT 10    IMPACT OF INCREASING CONSTRUCTION ACTIVITIES
EXHIBIT 11    UK NUMBER OF DWELLINGS COMPLETED JANUARY TO MARCH (2023)
EXHIBIT 12    HOTEL CONSTRUCTION IN EUROPE AND APAC
EXHIBIT 13    IMPACT OF GOVERNMENT SUBSIDIES ON WATER HEATER
EXHIBIT 14    IMPACT OF RISING DEMAND FOR REPLACEMENT OF CONVENTIONAL WATER HEATERS WITH ADVANCED SYSTEMS
EXHIBIT 15    IMPACT OF VARIATION OF GAS AND OTHER FUEL PRICES
EXHIBIT 16    US FLUCTUATION OF GASOLINE PRICE 2022 ($ PER GALLON)
EXHIBIT 17    IMPACT OF HIGH INSTALLATION COST
EXHIBIT 18    IMPACT OF ALTERNATIVE WATER HEATER
EXHIBIT 19    FACTORS DRIVING DEMAND FOR WATER HEATER
EXHIBIT 20    GLOBAL WATER HEATER MARKET CAGR 2023-2029 (%)
EXHIBIT 21    GLOBAL WATER HEATER MARKET 2023–2029 ($BILLION)
EXHIBIT 22    FIVE FORCES ANALYSIS (2023)
EXHIBIT 23    INCREMENTAL GROWTH BY PRODUCT (2023 & 2029)
EXHIBIT 24    GLOBAL WATER HEATER MARKET BY PRODUCT 2023 AND 2029 (MARKET SHARE %)
EXHIBIT 25    KEY INSIGHTS OF ELECTRIC WATER HEATER
EXHIBIT 26    GLOBAL ELECTRIC WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 27    GLOBAL GAS AND OIL WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 28    KEY MANUFACTURES OF HEAT PUMP WATER HEATER
EXHIBIT 29    GLOBAL HEAT PUMP WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 30    GLOBAL SOLAR WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 31    INCREMENTAL GROWTH BY CATEGORY (2023 & 2029)
EXHIBIT 32    GLOBAL WATER HEATER MARKET BY CATEGORY 2023 AND 2029 (MARKET SHARE %)
EXHIBIT 33    GLOBAL STORAGE WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 34    GLOBAL INSTANT WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 35    INCREMENTAL GROWTH BY END-USER (2023 & 2029)
EXHIBIT 36    GLOBAL WATER HEATER MARKET BY END-USER 2023 AND 2029 (MARKET SHARE %)
EXHIBIT 37    GLOBAL POPULATION IN 2030 2050 AND 2100 (BILLION)
EXHIBIT 38    US AND FRANCE RESIDENTIAL BUILDINGS AND DWELLINGS PERMITS (MILLION)
EXHIBIT 39    GLOBAL RESIDENTIAL WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 40    GLOBAL COMMERCIAL WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 41    KEY INSIGHTS OF TOURISM INDUSTRY
EXHIBIT 42    INCREMENTAL GROWTH BY DISTRIBUTION CHANNEL (2023 & 2029)
EXHIBIT 43    GLOBAL WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023 AND 2029 (MARKET SHARE %)
EXHIBIT 44    GLOBAL WATER HEATER BY OFFLINE STORES DISTRIBUTION
EXHIBIT 45    GLOBAL OFFLINE WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 46    WHOLESALER DISTRIBUTION CHANNEL OF WATER HEATER
EXHIBIT 47    GLOBAL ONLINE WATER HEATERS MARKET 2020–2029 ($ BILLION)
EXHIBIT 48    INCREMENTAL GROWTH BY GEOGRAPHY (2023 & 2029)
EXHIBIT 49    WATER HEATER MARKET IN APAC 2020–2029 ($ BILLION)
EXHIBIT 50    INCREMENTAL GROWTH IN APAC (2023 & 2029)
EXHIBIT 51    BUILDING PERMIT IN TAIWAN FEBRUARY TO DECEMBER 2023 (THOUSANDS OF UNITS)
EXHIBIT 52    WATER HEATER MARKET IN CHINA 2020–2029 ($ BILLION)
EXHIBIT 53    EXPORT OF WATER HEATERS TO VARIOUS COUNTRIES IN 2021(THOUSANDS OF UNITS)
EXHIBIT 54    KEY FACTS: ECONOMIC DEVELOPMENT INDIA
EXHIBIT 55    WATER HEATER MARKET IN INDIA 2020–2029 ($ BILLION)
EXHIBIT 56    WATER HEATER MARKET IN JAPAN 2020–2029 ($ BILLION)
EXHIBIT 57    CONSTRUCTION OF APPROVED BUILDING PERMITS BY REGIONS IN 2022 (THOUSANDS OF UNITS)
EXHIBIT 58    WATER HEATER MARKET IN PHILIPPINES 2020–2029 ($ BILLION)
EXHIBIT 59    PERMITS ISSUED FOR DWELLINGS AND RESIDENTIAL CONSTRUCTIONS IN KOREA FROM 2018−2022 (BILLION UNITS)
EXHIBIT 60    WATER HEATER MARKET IN SOUTH KOREA 2020–2029 ($ BILLION)
EXHIBIT 61    AUSTRALIA DWELLING PERMITS FEBRUARY TO DECEMBER 2023 (THOUSANDS OF UNITS)
EXHIBIT 62    WATER HEATER MARKET IN AUSTRALIA 2020–2029 ($ BILLION)
EXHIBIT 63    CONSTRUCTION PROJECTS IN RUSSIA: (2022)
EXHIBIT 64    WATER HEATER MARKET IN EUROPE 2020–2029 ($ BILLION)
EXHIBIT 65    INCREMENTAL GROWTH IN EUROPE (2023 & 2029)
EXHIBIT 66    WATER HEATER MARKET IN GERMANY 2020–2029 ($ BILLION)
EXHIBIT 67    UK WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 68    HOUSING PERMIT IN FRANCE FEBRUARY TO DECEMBER 2023 (THOUSAND UNITS)
EXHIBIT 69    WATER HEATER MARKET IN FRANCE 2020–2029 ($ BILLION)
EXHIBIT 70    KEY INSIGHTS OF HOSPITALITY INDUSTRY IN ITALY
EXHIBIT 71    WATER HEATER MARKET IN ITALY 2020–2029 ($ BILLION)
EXHIBIT 72    NUMBER OF DWELLINGS AND RESIDENTIAL BUILDINGS IN SPAIN 2018-2022 (UNITS)
EXHIBIT 73    WATER HEATER MARKET IN SPAIN 2020–2029 ($ BILLION)
EXHIBIT 74    OVERALL HOTEL INDUSTRY IN POLAND
EXHIBIT 75    TOTAL DWELLINGS AND RESIDENTIAL BUILDING CONSTRUCTION IN POLAND 2018-2022 (MILLION UNITS)
EXHIBIT 76    WATER HEATER MARKET IN POLAND 2020–2029 ($ BILLION)
EXHIBIT 77    WATER HEATER MARKET IN NORTH AMERICA 2020–2029 ($ BILLION)
EXHIBIT 78    INCREMENTAL GROWTH IN NORTH AMERICA (2023 & 2029)
EXHIBIT 79    US RESIDENTIAL HOUSING PERMITS JANUARY TO NOVEMBER 2023 (THOUSANDS OF UNITS)
EXHIBIT 80    US COMMERCIAL GAS AND ELECTRIC STORAGE WATER HEATER SHIPMENTS JULY 2021, 2022, & 2023
EXHIBIT 81    AVERAGE HOT WATER USAGE BY AMERICANS IN HOTELS BY NUMBER OF ROOMS 2023 (GPM)
EXHIBIT 82    US WATER HEATER MARKET 2020–2029 ($ BILLION)
EXHIBIT 83    NUMBER OF DWELLINGS AND RESIDENTIAL BUILDINGS CONSTRUCTION 2017-2022 (THOUSANDS OF UNITS)
EXHIBIT 84    WATER HEATER MARKET IN CANADA 2020–2029 ($ BILLION)
EXHIBIT 85    WATER HEATER MARKET IN LATIN AMERICA 2020–2029 ($ BILLION)
EXHIBIT 86    INCREMENTAL GROWTH IN LATIN AMERICA (2023 & 2029)
EXHIBIT 87    WATER HEATER MARKET IN BRAZIL 2020–2029 ($ BILLION)
EXHIBIT 88    WATER HEATER MARKET IN MEXICO 2020–2029 ($ BILLION)
EXHIBIT 89    OVERALL CONSTRUCTION INDUSTRY IN ARGENTINA
EXHIBIT 90    WATER HEATER MARKET IN ARGENTINA 2020–2029 ($ BILLION)
EXHIBIT 91    HOUSING PERMITS IN CHILE 2023 (THOUSANDS OF UNITS)
EXHIBIT 92    WATER HEATER MARKET IN CHILE 2020–2029 ($ BILLION)
EXHIBIT 93    KEY INSIGHTS: OVERALL MIDDLE EAST & AFRICA
EXHIBIT 94    WATER HEATER MARKET IN MIDDLE EAST AND AFRICA 2020–2029 ($ BILLION)
EXHIBIT 95    INCREMENTAL GROWTH IN MIDDLE EAST & AFRICA (2023 & 2029)
EXHIBIT 96    TURKEY DWELLINGS PERMITS JANUARY TO MARCH 2023 (THOUSANDS OF UNITS)
EXHIBIT 97    WATER HEATER MARKET IN TURKEY 2020–2029 ($ BILLION)
EXHIBIT 98    WATER HEATER MARKET IN SAUDI ARABIA 2020–2029 ($ BILLION)
EXHIBIT 99    APPLICATION AREAS OF TOTAL INSTALLED COLLECTOR (2021)
EXHIBIT 100    WATER HEATER MARKET IN SOUTH AFRICA 2020–2029 ($ BILLION)
EXHIBIT 101    WATER HEATER MARKET IN EGYPT 2020–2029 ($ BILLION)
EXHIBIT 102    KEY VENDORS ANALYSIS
EXHIBIT 103    KEY CAVEATS

LIST OF TABLES

TABLE 1    KEY MANUFACTURERS OF TANKLESS WATER HEATER WITH INNOVATIVE FEATURES
TABLE 2    COMPARISON OF TANK AND TANKLESS WATER HEATER TECHNOLOGIES
TABLE 3    KEY VENDORS OF SMART WATER HEATER
TABLE 4    KEY MANUFACTURERS OF HYBRID WATER HEATER
TABLE 5    KEY MANUFACTURER OF GRID ENABLED WATER HEATER
TABLE 6    COMPANIES LAUNCHING NEW PRODUCTS WITH INNOVATIVE FEATURES
TABLE 7    INSTALLATION COST OF WATER HEATER BY TYPE
TABLE 8    AVERAGE COST OF WATER HEATER BY TANK SIZE
TABLE 9    KEY MANUFACTURERS OF ELECTRIC WATER HEATERS
TABLE 10    GLOBAL ELECTRIC WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 11    KEY MANUFACTURERS OF GAS AND OIL WATER HEATER
TABLE 12    GLOBAL GAS AND OIL WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 13    GLOBAL HEAT PUMP WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 14    KEY MANUFACTURES OF SOLAR WATER HEATER
TABLE 15    GLOBAL SOLAR WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 16    KEY MANUFACTURERS OF STORAGE WATER HEATERS
TABLE 17    GLOBAL STORAGE WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 18    KEY MANUFACTURERS OF INSTANT WATER HEATERS
TABLE 19    GLOBAL INSTANT WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 20    GLOBAL RESIDENTIAL WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 21    KEY MANUFACTURERS OF COMMERCIAL WATER HEATERS
TABLE 22    GLOBAL COMMERCIAL WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 23    NUMBER OF HOSPITALS BY COUNTRIES
TABLE 24    NUMBER OF SCHOOLS BY COUNTRIES
TABLE 25    GLOBAL OFFLINE WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 26    GLOBAL ONLINE WATER HEATERS MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 27    APAC WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 28    APAC WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 29    APAC WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 30    APAC WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 31    EUROPE WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 32    EUROPE WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 33    EUROPE WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 34    EUROPE WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 35    PROJECTED HOTEL OPENINGS PER CITY (2024)
TABLE 36    UK NUMBER OF HOSPITALS BY REGION
TABLE 37    GOVERNMENT HEAT PUMP GRANTS
TABLE 38    NORTH AMERICA WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 39    NORTH AMERICA WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 40    NORTH AMERICA WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 41    NORTH AMERICA WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 42    LATIN AMERICA WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 43    LATIN AMERICA WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 44    LATIN AMERICA WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 45    LATIN AMERICA WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 46    MIDDLE EAST & AFRICA WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 47    MIDDLE EAST & AFRICA WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 48    MIDDLE EAST & AFRICA WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 49    MIDDLE EAST & AFRICA WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 50    A.O. SMITH: MAJOR PRODUCT/SERVICE OFFERINGS
TABLE 51    HAIER: MAJOR PRODUCT OFFERINGS
TABLE 52    MIDEA: MAJOR PRODUCT OFFERINGS
TABLE 53    ARISTON THERMO: MAJOR PRODUCT OFFERINGS
TABLE 54    BRADFORD WHITE CORPORATION: MAJOR PRODUCT/SERVICE OFFERINGS
TABLE 55    RHEEM MANUFACTURING COMPANY: MAJOR PRODUCT/SERVICE OFFERINGS
TABLE 56    RINNAI CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 57    APRICUS SOLAR: MAJOR PRODUCT OFFERINGS
TABLE 58    ALTERNATE ENERGY TECHNOLOGIES: MAJOR PRODUCT OFFERINGS
TABLE 59    BOCK WATER HEATERS: MAJOR PRODUCT OFFERINGS
TABLE 60    BROMIC PLUMBING & GAS: MAJOR PRODUCT OFFERINGS
TABLE 61    BAJAJ ELECTRICALS: MAJOR PRODUCT OFFERINGS
TABLE 62    CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED: MAJOR PRODUCT OFFERINGS
TABLE 63    ECCOTEMP: MAJOR PRODUCT OFFERINGS
TABLE 64    EFFICIENT TECHNOLOGY SALES: MAJOR PRODUCT OFFERINGS
TABLE 65    ELECTROLUX PROFESSIONAL: MAJOR PRODUCT OFFERINGS
TABLE 66    FERROLI S.P.A: MAJOR PRODUCT OFFERINGS
TABLE 67    GROUPE ATLANTIC: MAJOR PRODUCT OFFERINGS
TABLE 68    GUANGDONG VANWARD NEW ELECTRIC: MAJOR PRODUCT OFFERINGS
TABLE 69    GENERAL ELECTRIC: MAJOR PRODUCT OFFERINGS
TABLE 70    HELIODYNE: MAJOR PRODUCT OFFERINGS
TABLE 71    HUBBELL WATER HEATERS: MAJOR PRODUCT OFFERINGS
TABLE 72    HAVELLS INDIA: MAJOR PRODUCT OFFERINGS
TABLE 73    HIMIN SOLAR.: MAJOR PRODUCT OFFERINGS
TABLE 74    INTELLIHOT: MAJOR PRODUCT OFFERINGS
TABLE 75    JAQUAR INDIA: MAJOR PRODUCT OFFERINGS
TABLE 76    JIAXING JINYI SOLAR ENERGY TECHNOLOGY: MAJOR PRODUCT OFFERINGS
TABLE 77    KINGSPAN: MAJOR PRODUCT OFFERINGS
TABLE 78    KENMORE: MAJOR PRODUCT OFFERINGS
TABLE 79    LENNOX INTERNATIONAL: MAJOR PRODUCT OFFERINGS
TABLE 80    MACRO: MAJOR PRODUCT/SERVICE OFFERINGS
TABLE 81    NAVIEN: MAJOR PRODUCT OFFERINGS
TABLE 82    NORITZ AMERICA CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 83    LINUO RITTER INTERNATIONAL: MAJOR PRODUCT OFFERINGS
TABLE 84    LORENZETTI S.A.: MAJOR PRODUCT OFFERINGS
TABLE 85    ORIENT ELECTRIC: MAJOR PRODUCT OFFERINGS
TABLE 86    ROBERT BOSH: MAJOR PRODUCT OFFERINGS
TABLE 87    RECO: MAJOR PRODUCT OFFERINGS
TABLE 88    SIOUX CORPORATION: MAJOR PRODUCT OFFERINGS
TABLE 89    SUNMAXX SOLAR: MAJOR PRODUCT OFFERINGS
TABLE 90    SUNEARTH: MAJOR PRODUCT OFFERINGS
TABLE 91    SANDEN INTERNATIONAL: MAJOR PRODUCT OFFERINGS
TABLE 92    SAKURA: MAJOR PRODUCT/SERVICE OFFERINGS
TABLE 93    STIEBEL ELTRON: MAJOR PRODUCT OFFERINGS
TABLE 94    TEKSUPPLY: MAJOR PRODUCT OFFERINGS
TABLE 95    VIESSMANN MANUFACTURING COMPANY INC.: MAJOR PRODUCT OFFERINGS
TABLE 96    VENUS HOME APPLIANCES: MAJOR PRODUCT OFFERINGS
TABLE 97    V-GUARD INDUSTRIES: MAJOR PRODUCT OFFERINGS
TABLE 98    WATTS WATER TECHNOLOGIES: MAJOR PRODUCT OFFERINGS
TABLE 99    WESTINGHOUSE ELECTRIC COMPANY: MAJOR PRODUCT OFFERINGS
TABLE 100    WHIRLPOOL: MAJOR PRODUCT OFFERINGS
TABLE 101    WAGNER SOLAR: MAJOR PRODUCT OFFERINGS
TABLE 102    ZYTECH SOLAR: MAJOR PRODUCT OFFERINGS
TABLE 103    GLOBAL WATER HEATER MARKET BY GEOGRAPHY 2023−2029 ($ BILLION)
TABLE 104    GLOBAL WATER HEATER MARKET BY GEOGRAPHY 2023−2029 (%)
TABLE 105    GLOBAL WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 106    GLOBAL WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 107    GLOBAL WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 108    GLOBAL WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 109    APAC WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 110    APAC WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 111    APAC WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 112    APAC WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 113    EUROPE WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 114    EUROPE WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 115    EUROPE WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 116    EUROPE WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 117    NORTH AMERICA WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 118    NORTH AMERICA WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 119    NORTH AMERICA WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 120    NORTH AMERICA WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 121    LATIN AMERICA WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 122    LATIN AMERICA WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 123    LATIN AMERICA WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 124    LATIN AMERICA WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 125    MIDDLE EAST & AFRICA WATER HEATER MARKET BY PRODUCT 2023–2029 ($ BILLION)
TABLE 126    MIDDLE EAST & AFRICA WATER HEATER MARKET BY CATEGORY 2023–2029 ($ BILLION)
TABLE 127    MIDDLE EAST & AFRICA WATER HEATER MARKET BY END-USER 2023–2029 ($ BILLION)
TABLE 128    MIDDLE EAST & AFRICA WATER HEATER MARKET BY DISTRIBUTION CHANNEL 2023–2029 ($ BILLION)
TABLE 129    CURRENCY CONVERSION (2017−2023)

1.    SCOPE & COVERAGE
1.1.    MARKET DEFINITION
1.1.1.    INCLUSIONS
1.1.2.    EXCLUSIONS
1.1.3.    MARKET ESTIMATION CAVEATS
1.2.    SEGMENTS COVERED & DEFINITION
1.1.1    MARKET SEGMENTATION BY CATEGORY
1.1.2    MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
1.1.3    MARKET SEGMENTATION BY END-USER
1.1.4    MARKET SEGMENTATION BY PRODUCT
1.1.5    REGIONS & COUNTRIES COVERED
1.3.    MARKET DERIVATION
1.3.1.    HISTORIC, BASE, & FORECAST YEARS
2.    PREMIUM INSIGHTS
2.1.    OPPORTUNITY POCKETS
2.1.1.    MARKET MATURITY INDICATOR
2.1.2.    REGIONAL INSIGHTS
2.2.    MARKET DEFINITION
2.3.    REPORT OVERVIEW
2.4.    OPPORTUNITIES & CHALLENGES ANALYSIS
2.5.    SEGMENT ANALYSIS
2.6.    REGIONAL ANALYSIS
2.7.    COMPETITIVE LANDSCAPE
3.    MARKET AT A GLANCE
4.    INTRODUCTION
4.1.    OVERVIEW
4.1.1.    BUILDING CODES
4.1.2.    POST-PANDEMIC WATER HEATER MARKET
4.2.    REGULATORY COMPLIANCE
4.2.1.    US DEPARTMENT OF ENERGY
4.2.2.    INTERNATIONAL ELECTROTECHNICAL COMMISSION (IEC)
4.2.3.    AMERICAN NATIONAL STANDARDS INSTITUTE (ANSI)
5.    MARKET OPPORTUNITIES & TRENDS
5.1.    RISING POPULARITY OF TANKLESS WATER HEATERS
5.2.    GROWING DEMAND FOR SMART WATER HEATER
5.3.    INCREASES DEMAND FOR HYBRID WATER HEATER
5.4.    RISE OF GRID-INTERACTIVE WATER HEATERS
6.    MARKET GROWTH ENABLERS
6.1.    TECHNOLOGICAL ADVANCES PRODUCTS
6.2.    INCREASING CONSTRUCTION ACTIVITIES
6.3.    GOVERNMENT SUBSIDIES ON WATER HEATER
6.4.    RISING DEMAND FOR REPLACEMENT OF CONVENTIONAL WATER HEATERS WITH ADVANCED SYSTEMS
7.    MARKET RESTRAINTS
7.1.    VARIATION OF GAS AND OTHER FUEL PRICES
7.2.    HIGH INSTALLATION COST
7.3.    ALTERNATIVE OF WATER HEATER
8.    MARKET LANDSCAPE
8.1.    MARKET OVERVIEW
8.2.    DEMAND INSIGHTS
8.3.    VENDOR ANALYSIS
8.4.    MARKET SIZE & FORECAST
8.5.    FIVE FORCES ANALYSIS
8.5.1.    THREAT OF NEW ENTRANTS
8.5.2.    BARGAINING POWER OF SUPPLIERS
8.5.3.    BARGAINING POWER OF BUYERS
8.5.4.    THREAT OF SUBSTITUTES
8.5.5.    COMPETITIVE RIVALRY
9.    PRODUCT
9.1.    MARKET SNAPSHOT & GROWTH ENGINE
9.2.    MARKET OVERVIEW
9.3.    ELECTRIC
9.3.1.    MARKET OVERVIEW
9.3.2.    MARKET SIZE & FORECAST
9.3.3.    MARKET BY GEOGRAPHY
9.4.    GAS AND OIL
9.4.1.    MARKET OVERVIEW
9.4.2.    MARKET SIZE & FORECAST
9.4.3.    MARKET BY GEOGRAPHY
9.6.    HEAT PUMPS
9.6.1.    MARKET OVERVIEW
9.6.2.    MARKET SIZE & FORECAST
9.6.3.    MARKET BY GEOGRAPHY
9.7.    SOLAR
9.7.1.    MARKET OVERVIEW
9.7.2.    MARKET SIZE & FORECAST
9.7.3.    MARKET BY GEOGRAPHY
10.    CATEGORY
10.1.    MARKET SNAPSHOT & GROWTH ENGINE
10.2.    MARKET OVERVIEW
10.3.    STORAGE
10.3.1.    MARKET OVERVIEW
10.3.2.    MARKET SIZE & FORECAST
10.3.3.    MARKET BY GEOGRAPHY
10.4.    INSTANT
10.4.1.    MARKET OVERVIEW
10.4.2.    MARKET SIZE & FORECAST
10.4.3.    MARKET BY GEOGRAPHY
11.    END-USER
11.1.    MARKET SNAPSHOT & GROWTH ENGINE
11.2.    MARKET OVERVIEW
11.3.    RESIDENTIAL
11.3.1.    MARKET OVERVIEW
11.3.2.    MARKET SIZE & FORECAST
11.3.3.    MARKET BY GEOGRAPHY
11.4.    COMMERCIAL
11.4.1.    MARKET OVERVIEW
11.4.2.    MARKET SIZE & FORECAST
11.4.3.    MARKET BY GEOGRAPHY
11.5.    HEALTHCARE
11.5.1.    MARKET OVERVIEW
11.6    HOSPITALITY
11.5.2.    MARKET OVERVIEW
11.6.    OTHERS
11.6.1.    MARKET OVERVIEW
12.    DISTRIBUTION
12.1.    MARKET SNAPSHOT & GROWTH ENGINE
12.2.    MARKET OVERVIEW
12.3.    OFFLINE
12.3.1.    MARKET OVERVIEW
12.3.2.    MARKET SIZE & FORECAST
12.3.3.    MARKET BY GEOGRAPHY
12.4.    CONSUMER ELECTRONIC RETAIL STORES
12.4.1.    MARKET OVERVIEW
12.5.    DEPARTMENTAL STORES
12.5.1.    MARKET OVERVIEW
12.6.    SPECIALITY STORES
12.6.1.    MARKET OVERVIEW
12.7.    OTHERS
12.7.1.    MARKET OVERVIEW
12.8.    ONLINE
12.8.1.    MARKET OVERVIEW
12.8.2.    MARKET SIZE & FORECAST
12.8.3.    MARKET BY GEOGRAPHY
12.6    DIRECT SALES
12.6.1    MARKET OVERVIEW
12.7    THIRD-PARTY SALES
12.7.1    MARKET OVERVIEW
13    GEOGRAPHY
13.6    MARKET SNAPSHOT & GROWTH ENGINE
12.9.    GEOGRAPHIC OVERVIEW
14    APAC
14.6    MARKET OVERVIEW
14.7    MARKET SIZE & FORECAST
14.8    PRODUCT TYPE
14.8.1    MARKET SIZE & FORECAST
14.9    CATEGORY
14.9.1    MARKET SIZE & FORECAST
14.10    END-USER
14.10.1    MARKET SIZE & FORECAST
14.11    DISTRIBUTION CHANNEL
14.11.1    MARKET SIZE & FORECAST
14.12    KEY COUNTRIES
14.13    CHINA: MARKET SIZE & FORECAST
14.14    INDIA: MARKET SIZE & FORECAST
14.15    JAPAN: MARKET SIZE & FORECAST
14.16    PHILIPPINES: MARKET SIZE & FORECAST
14.17    SOUTH KOREA: MARKET SIZE & FORECAST
14.18    AUSTRALIA: MARKET SIZE & FORECAST
15    EUROPE
15.6    MARKET OVERVIEW
15.7    MARKET SIZE & FORECAST
15.8    PRODUCT TYPE
15.8.1    MARKET SIZE & FORECAST
15.9    CATEGORY
15.9.1    MARKET SIZE & FORECAST
15.10    END-USER
15.10.1    MARKET SIZE & FORECAST
15.11    DISTRIBUTION CHANNEL
15.11.1    MARKET SIZE & FORECAST
15.12    KEY COUNTRIES
15.13    GERMANY: MARKET SIZE & FORECAST
15.14    UK: MARKET SIZE & FORECAST
15.15    FRANCE: MARKET SIZE & FORECAST
15.16    ITALY: MARKET SIZE & FORECAST
15.17    SPAIN: MARKET SIZE & FORECAST
15.18    POLAND: MARKET SIZE & FORECAST
16    NORTH AMERICA
16.6    MARKET OVERVIEW
16.7    MARKET SIZE & FORECAST
16.8    PRODUCT TYPE
16.8.1    MARKET SIZE & FORECAST
16.9    CATEGORY
16.9.1    MARKET SIZE & FORECAST
16.10    END-USER
16.10.1    MARKET SIZE & FORECAST
16.11    DISTRIBUTION CHANNEL
16.11.1    MARKET SIZE & FORECAST
16.12    KEY COUNTRIES
16.13    US: MARKET SIZE & FORECAST
16.14    CANADA: MARKET SIZE & FORECAST
17    LATIN AMERICA
17.6    MARKET OVERVIEW
17.7    MARKET SIZE & FORECAST
17.8    PRODUCT TYPE
17.8.1    MARKET SIZE & FORECAST
17.9    CATEGORY
17.9.1    MARKET SIZE & FORECAST
17.10    END-USER
17.10.1    MARKET SIZE & FORECAST
17.11    DISTRIBUTION CHANNEL
17.11.1    MARKET SIZE & FORECAST
17.12    KEY COUNTRIES
17.13    BRAZIL: MARKET SIZE & FORECAST
17.14    MEXICO: MARKET SIZE & FORECAST
17.15    ARGENTINA: MARKET SIZE & FORECAST
17.16    CHILE: MARKET SIZE & FORECAST
18    MIDDLE EAST AND AFRICA
18.6    MARKET OVERVIEW
18.7    MARKET SIZE & FORECAST
18.8    PRODUCT TYPE
18.8.1    MARKET SIZE & FORECAST
18.9    CATEGORY
18.9.1    MARKET SIZE & FORECAST
18.10    END-USER
18.10.1    MARKET SIZE & FORECAST
18.11    DISTRIBUTION CHANNEL
18.11.1    MARKET SIZE & FORECAST
18.12    KEY COUNTRIES
18.13    TURKEY: MARKET SIZE & FORECAST
18.14    SAUDI ARABIA: MARKET SIZE & FORECAST
18.15    SOUTH AFRICA: MARKET SIZE & FORECAST
18.16    EGYPT: MARKET SIZE & FORECAST
19    COMPETITIVE LANDSCAPE
19.6    COMPETITION OVERVIEW
19.6.1    RECENT VENDOR ACTIVITIES IN THE MARKET:
20    KEY COMPANY PROFILES
20.1    A. O. SMITH
20.1.1    BUSINESS OVERVIEW
20.1.2    PRODUCT/SERVICE OFFERINGS
20.1.3    KEY STRATEGIES
20.1.4    KEY STRENGTHS
20.1.5    KEY OPPORTUNITIES
20.2    HAIER
20.2.1    BUSINESS OVERVIEW
20.2.2    PRODUCT/SERVICE OFFERINGS
20.2.3    KEY STRATEGIES
20.2.4    KEY STRENGTHS
20.2.5    KEY OPPORTUNITIES
20.3    MIDEA
20.3.1    BUSINESS OVERVIEW
20.3.2    PRODUCT/SERVICE OFFERINGS
20.3.3    KEY STRATEGIES
20.3.4    KEY STRENGTHS
20.3.5    KEY OPPORTUNITIES
21    DOMINANT PLAYERS
21.1    ARISTON THERMO
21.1.1    BUSINESS OVERVIEW
21.1.2    PRODUCT/SERVICE OFFERINGS
21.1.3    KEY STRATEGIES
21.1.4    KEY STRENGTHS
21.1.5    KEY OPPORTUNITIES
21.2    BRADFORD WHITE CORPORATION
21.2.1    BUSINESS OVERVIEW
21.2.2    PRODUCT/SERVICE OFFERINGS
21.2.3    KEY STRATEGIES
21.2.4    KEY STRENGTHS
21.2.5    KEY OPPORTUNITIES
21.3    RHEEM MANUFACTURING COMPANY
21.3.1    BUSINESS OVERVIEW
21.3.2    PRODUCT/SERVICE OFFERINGS
21.3.3    KEY STRATEGIES
21.3.4    KEY STRENGTHS
21.3.5    KEY OPPORTUNITIES
12.4     RINNAI CORPORATION
12.9.1.    BUSINESS OVERVIEW
12.9.2.    PRODUCT/SERVICE OFFERINGS
12.9.3.    KEY STRATEGIES
12.9.4.    KEY STRENGTHS
12.9.5.    KEY OPPORTUNITIES
12    OTHER PROMINENT VENDORS
12.4    APRICUS SOLAR
12.4.1    BUSINESS OVERVIEW
12.4.2    PRODUCT/SERVICE OFFERINGS
12.5    ALTERNATE ENERGY TECHNOLOGIES
12.5.1    BUSINESS OVERVIEW
12.5.2    PRODUCT/SERVICE OFFERINGS
12.6    BOCK WATER HEATERS
12.6.1    BUSINESS OVERVIEW
12.6.2    PRODUCT/SERVICE OFFERINGS
12.7    BROMIC PLUMBING & GAS
12.7.1    BUSINESS OVERVIEW
12.7.2    PRODUCT/SERVICE OFFERINGS
12.8    BAJAJ ELECTRICALS
12.8.1    BUSINESS OVERVIEW
12.8.2    PRODUCT/SERVICE OFFERINGS
12.9    CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED
12.9.1    BUSINESS OVERVIEW
12.9.2    PRODUCT/SERVICE OFFERINGS
12.10    ECCOTEMP
12.10.1    BUSINESS OVERVIEW
12.10.2    PRODUCT/SERVICE OFFERINGS
12.11    EFFICIENT TECHNOLOGY SALES
12.11.1    BUSINESS OVERVIEW
12.11.2    PRODUCT/SERVICE OFFERINGS
12.12    ELECTROLUX PROFESSIONAL
12.12.1    BUSINESS OVERVIEW
12.12.2    PRODUCT/SERVICE OFFERINGS
12.13    FERROLI S.P.A
12.13.1    BUSINESS OVERVIEW
12.13.2    PRODUCT/SERVICE OFFERINGS
12.14    GROUPE ATLANTIC
12.14.1    BUSINESS OVERVIEW
12.14.2    PRODUCT/SERVICE OFFERINGS
12.15    GUANGDONG VANWARD NEW ELECTRIC
12.15.1    BUSINESS OVERVIEW
12.15.2    PRODUCT/SERVICE OFFERINGS
12.10.    GENERAL ELECTRIC
12.10.1.    BUSINESS OVERVIEW
12.15.3    PRODUCT/SERVICE OFFERINGS
12.16    HELIODYNE
12.16.1    BUSINESS OVERVIEW
12.16.2    PRODUCT/SERVICE OFFERINGS
12.17    HUBBELL WATER HEATERS
12.17.1    BUSINESS OVERVIEW
12.17.2    PRODUCT/SERVICE OFFERINGS
12.18    HAVELLS INDIA
12.18.1    BUSINESS OVERVIEW
12.18.2    PRODUCT/SERVICE OFFERINGS
12.19    HIMIN SOLAR
12.19.1    BUSINESS OVERVIEW
12.19.2    PRODUCT/SERVICE OFFERINGS
12.20    INTELLIHOT
12.20.1    BUSINESS OVERVIEW
12.20.2    PRODUCT/SERVICE OFFERINGS
12.21    JAQUAR INDIA
12.21.1    BUSINESS OVERVIEW
12.21.2    PRODUCT/SERVICE OFFERINGS
12.22    JIAXING JINYI SOLAR ENERGY TECHNOLOGY
12.22.1    BUSINESS OVERVIEW
12.22.2    PRODUCT/SERVICE OFFERINGS
12.23    KINGSPAN
12.23.1    BUSINESS OVERVIEW
12.23.2    PRODUCT/SERVICE OFFERINGS
12.24    KENMORE
12.24.1    BUSINESS OVERVIEW
12.24.2    PRODUCT/SERVICE OFFERINGS
12.25    LENNOX INTERNATIONAL
12.25.1    BUSINESS OVERVIEW
12.25.2    PRODUCT/SERVICE OFFERINGS
12.26    MACRO
12.26.1    BUSINESS OVERVIEW
12.26.2    PRODUCT/SERVICE OFFERINGS
12.27    NAVIEN, INC
12.27.1    BUSINESS OVERVIEW
12.27.2    PRODUCT/SERVICE OFFERINGS
12.28    NORITZ AMERICA CORPORATION
12.28.1    BUSINESS OVERVIEW
12.28.2    PRODUCT/SERVICE OFFERINGS
12.29    LINUO RITTER INTERNATIONAL
12.29.1    BUSINESS OVERVIEW
12.29.2    PRODUCT/SERVICE OFFERINGS
12.30    LORENZETTI S.A.
12.30.1    BUSINESS OVERVIEW
12.30.2    PRODUCT/SERVICE OFFERINGS
12.31    ORIENT ELECTRIC
12.31.1    BUSINESS OVERVIEW
12.31.2    PRODUCT/SERVICE OFFERINGS
12.32    ROBERT BOSCH
12.32.1    BUSINESS OVERVIEW
12.32.2    PRODUCT/SERVICE OFFERINGS
12.33    RECO
12.33.1    BUSINESS OVERVIEW
12.33.2    PRODUCT/SERVICE OFFERINGS
12.34    SIOUX CORPORATION
12.34.1    BUSINESS OVERVIEW
12.34.2    PRODUCT/SERVICE OFFERINGS
12.35    SUNMAXX SOLAR
12.35.1    BUSINESS OVERVIEW
12.35.2    PRODUCT/SERVICE OFFERINGS
12.36    SUNEARTH
12.36.1    BUSINESS OVERVIEW
12.36.2    PRODUCT/SERVICE OFFERINGS
12.37    SANDEN INTERNATIONAL
12.37.1    BUSINESS OVERVIEW
12.37.2    PRODUCT/SERVICE OFFERINGS
12.38    SAKURA
12.38.1    BUSINESS OVERVIEW
12.38.2    PRODUCT/SERVICE OFFERINGS
12.39    STIEBEL ELTRON
12.39.1    BUSINESS OVERVIEW
12.39.2    PRODUCT/SERVICE OFFERINGS
12.40    TEKSUPPLY
12.40.1    BUSINESS OVERVIEW
12.40.2    PRODUCT/SERVICE OFFERINGS
12.41    VIESSMANN MANUFACTURING COMPANY INC.
12.41.1    BUSINESS OVERVIEW
12.41.2    PRODUCT/SERVICE OFFERINGS
12.42    VENUS HOME APPLIANCES
12.42.1    BUSINESS OVERVIEW
12.42.2    PRODUCT/SERVICE OFFERINGS
12.43    V-GUARD INDUSTRIES
12.43.1    BUSINESS OVERVIEW
12.43.2    PRODUCT/SERVICE OFFERINGS
12.44    WATTS WATER TECHNOLOGIES
12.44.1    BUSINESS OVERVIEW
12.44.2    PRODUCT/SERVICE OFFERINGS
12.45    WESTINGHOUSE ELECTRIC COMPANY
12.45.1    BUSINESS OVERVIEW
12.45.2    PRODUCT/SERVICE OFFERINGS
12.46    WHIRLPOOL
12.46.1    BUSINESS OVERVIEW
12.46.2    PRODUCT/SERVICE OFFERINGS
12.47    WAGNER SOLAR
12.47.1    BUSINESS OVERVIEW
12.47.2    PRODUCT/SERVICE OFFERINGS
12.48    ZYTECH SOLAR
12.48.1    BUSINESS OVERVIEW
12.48.2    PRODUCT/SERVICE OFFERINGS
13    REPORT SUMMARY
13.4    KEY TAKEAWAYS
13.5    STRATEGIC RECOMMENDATIONS
14    QUANTITATIVE SUMMARY
14.4    MARKET BY GEOGRAPHY
14.5    MARKET BY PRODUCT
14.6    MARKET BY CATEGORY
14.7    MARKET BY END-USER
14.8    MARKET BY DISTRIBUTION CHANNEL
14.9    APAC
14.9.1    PRODUCT: MARKET SIZE & FORECAST
14.9.2    CATEGORY: MARKET SIZE & FORECAST
14.9.3    END-USER: MARKET SIZE & FORECAST
14.9.4    DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
14.10    EUROPE
14.10.1    PRODUCT: MARKET SIZE & FORECAST
14.10.2    CATEGORY: MARKET SIZE & FORECAST
14.10.3    END-USER: MARKET SIZE & FORECAST
14.10.4    DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
14.11    NORTH AMERICA
14.11.1    PRODUCT: MARKET SIZE & FORECAST
14.11.2    CATEGORY: MARKET SIZE & FORECAST
14.11.3    END-USER: MARKET SIZE & FORECAST
14.11.4    DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
14.12    LATIN AMERICA
14.12.1    PRODUCT: MARKET SIZE & FORECAST
14.12.2    CATEGORY: MARKET SIZE & FORECAST
14.12.3    END-USER: MARKET SIZE & FORECAST
14.12.4    DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
14.13    MIDDLE EAST AND AFRICA
14.13.1    PRODUCT: MARKET SIZE & FORECAST
14.13.2    CATEGORY: MARKET SIZE & FORECAST
14.13.3    END-USER: MARKET SIZE & FORECAST
14.13.4    DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
15    APPENDIX
15.4    RESEARCH METHODOLOGY
15.5    RESEARCH PROCESS
15.6    REPORT ASSUMPTIONS & CAVEATS
15.6.1    KEY CAVEATS
15.6.2    CURRENCY CONVERSION
15.7    ABBREVIATIONS

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Frequently Asked Questions

How big is the water heater market?

The global water heater market was valued at USD 20.93 billion in 2023 and is expected to reach USD 33.37 billion by 2029.

What is the growth rate of the global water heater market?

The global water heater market is expected to grow at a CAGR of 8.08% from 2023 to 2029.

What are the significant trends in the water heater industry?

The rising popularity of tankless water heaters, growing demand for smart water heaters, increased demand for hybrid water heaters, and rise of grid-interactive water heaters are significant trends in the water heater industry.

Who are the key players in the global water heater market?

A.O. Smith, Haier, and Midea are the key players in the global water heater market.