Water Heaters Global Market Report 2022 – By Product Type (Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters), By End User (Residential, Commercial, Industrial), By Distribution channel (Supermarket/Hypermarket, Specialty Stores, E-Commerce) – Market Size, Trends, And Global Forecast 2022-2026

Starting Price : $4000.00 | Pages : 175 | Published : February 2022 | SKU CODE : 7318 | Delivery Time: 2-3 business days | Format :


The water heaters market consists of sales of water heaters. A water heater is a device used for heating water above its ambient temperature, used generally for domestic purposes.

The main product types of water heaters are into solar heaters, electric heaters, gas and propane heaters and geothermal heaters. A geothermal water heater is a component of a larger geothermal heat pump system that provides heated and cooled air to a home. A geothermal heat pump works by circulating a water and antifreeze mixture through a series of loops buried in the ground. The water heaters are distributed through supermarket/hypermarket, specialty stores, E-commerce and other distribution channels and are used by into residential, commercial and industrial end-users.

The global water heaters market size is expected to grow from $29.47 billion in 2021 to $34.34 billion in 2022 at a compound annual growth rate (CAGR) of 16.5%.The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The water heater market is expected to reach $53.58 billion in 2026 at a CAGR of 11.8%.

Rapid urbanization is expected to contribute to the growth of the water heaters market in the forecast period. According to the world economic forum (WEF) (2020), urban populations made up the highest share in Northern American countries with 83.6 percent of residents lived in cities and 56.2 percent of the world population was urban. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for water heaters.

Rising electricity prices are expected to limit the growth of the water heater market in the forecast period. Globally, electricity prices are rising due to increasing transmission costs. In 2019, Australian government announced a price hike of AUD50 ($35) for all households in Victoria, starting from 2020. Rising electricity prices coupled with the rising power outages, and high installation costs of solar water heaters will limit the growth of the water heaters market.

Water heater manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, an energy star certified water heater saves $3500 over its lifetime.

In 2019, Rheem Manufacturing, a USA based heating and cooling products manufacturer, through its group entity Paloma Rheem Global, acquired Intergas for an undisclosed amount. This acquisition allows Rheem to increase product offering and also provide it with competitive solutions to increase presence in the European market. Intergas is a Netherlands based manufacturer of heating equipment.

Major players in the water heaters market are Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc, and Bradford White Corp.

Asia Pacific was the largest region in the water heaters market in 2021. Western Europe was the second-largest region in the water heaters market. The regions covered in the water heaters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the water heaters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The global water heaters market is segmented -

1) By Product Type: Solar Heaters, Electric Heaters, Gas and Propane Heaters, Geothermal Heaters

2) By End-User: Residential, Commercial, Industrial

3) By Distribution Channel: Supermarket/Hypermarket, Specialty Stores, E-Commerce, Others

    Table Of Contents

    1. Executive Summary

    2. Water Heaters Market Characteristics

    3. Water Heaters Market Trends And Strategies

    4. Impact Of COVID-19 On Water Heaters

    5. Water Heaters Market Size And Growth

    5.1. Global Water Heaters Historic Market, 2016-2021, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Water Heaters Forecast Market, 2021-2026F, 2031F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Water Heaters Market Segmentation

    6.1. Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Solar Heaters

    Electric Heaters

    Gas and Propane Heaters

    Geothermal Heaters

    6.2. Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Residential

    Commercial

    Industrial

    6.3. Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Supermarket/Hypermarket

    Specialty Stores

    E-Commerce

    Others (Wholesalers, distributors)

    7. Water Heaters Market Regional And Country Analysis

    7.1. Global Water Heaters Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    7.2. Global Water Heaters Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ 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 Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    9. China Water Heaters Market

    9.1. China Water Heaters Market Overview

    9.2. China Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    10. India Water Heaters Market

    10.1. India Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11. Japan Water Heaters Market

    11.1. Japan Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12. Australia Water Heaters Market

    12.1. Australia Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13. Indonesia Water Heaters Market

    13.1. Indonesia Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14. South Korea Water Heaters Market

    14.1. South Korea Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15. Western Europe Water Heaters Market

    15.1. Western Europe Water Heaters Market Overview

    15.2. Western Europe Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16. UK Water Heaters Market

    16.1. UK Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17. Germany Water Heaters Market

    17.1. Germany Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18. France Water Heaters Market

    18.3. France Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19. Eastern Europe Water Heaters Market

    19.1. Eastern Europe Water Heaters Market Overview

    19.2. Eastern Europe Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20. Russia Water Heaters Market

    20.1. Russia Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21. North America Water Heaters Market

    21.1. North America Water Heaters Market Overview

    21.2. North America Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22. USA Water Heaters Market

    22.1. USA Water Heaters Market Overview

    22.2. USA Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23. South America Water Heaters Market

    23.1. South America Water Heaters Market Overview

    23.2. South America Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24. Brazil Water Heaters Market

    24.1. Brazil Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25. The Middle East Water Heaters Market

    25.1. The Middle East Water Heaters Market Overview

    25.2. The Middle East Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26. Africa Water Heaters Market

    26.1. Africa Water Heaters Market Overview

    26.2. Africa Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    27. Water Heaters Market Competitive Landscape And Company Profiles

    27.1. Water Heaters Market Competitive Landscape

    27.2. Water Heaters Market Company Profiles

    27.2.1. Siemens AG

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Bajaj Electricals Ltd

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Bradford White

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Rinnai

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. HTP

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Water Heaters Market

    29. Water Heaters Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Table 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Table 3: Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 4: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 5: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 6: Global Water Heaters Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 7: Global Water Heaters Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 8: Asia-Pacific, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 9: China, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 10: India, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 11: Japan, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 12: Australia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 13: Indonesia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 14: South Korea, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 15: Western Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 16: UK, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 17: Germany, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 18: France, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 19: Eastern Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 20: Russia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 21: North America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 22: USA, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 23: South America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 24: Brazil, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 25: Middle East, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 26: Africa, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 27: Siemens AG Financial Performance
  • Table 28: Bajaj Electricals Ltd Financial Performance
  • Table 29: Bradford White Financial Performance
  • Table 30: Rinnai Financial Performance
  • Table 31: HTP Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Figure 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Figure 3: Global Water Heaters Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 4: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 5: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 6: Global Water Heaters Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 7: Global Water Heaters Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 8: Asia-Pacific, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 9: China, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 10: India, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 11: Japan, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 12: Australia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 13: Indonesia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 14: South Korea, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 15: Western Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 16: UK, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 17: Germany, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 18: France, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 19: Eastern Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 20: Russia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 21: North America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 22: USA, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 23: South America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 24: Brazil, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 25: Middle East, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 26: Africa, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 27: Siemens AG Financial Performance
  • Figure 28: Bajaj Electricals Ltd Financial Performance
  • Figure 29: Bradford White Financial Performance
  • Figure 30: Rinnai Financial Performance
  • Figure 31: HTP Financial Performance
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