Water Heaters Market 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), And By Region, Opportunities And Strategies – Global Forecast To 2031

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Water Heaters Market Definition

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. Uses of hot water include cooking, cleaning, bathing, and space heating.

Water heaters are used to transform thermal energy from a fuel source to a stream or reservoir of water. Water heaters can be described by their fuel source, and they can be configured to operate in-line, to heat re-circulated streams of water, for direct immersion in an open tank or vessel, or to operate as a booster heater to increase the fluid stream temperature at or near its point of use.

Water Heaters Market Size

The global water heaters market size reached a value of nearly $29,474.4 million in 2021, having increased at a compound annual growth rate (CAGR) of 7.8% since 2016. The market is expected to grow from $$29,474.4 million in 2021 to $46,953.6 million in 2026 at a rate of 9.8%. The market is then expected to grow at a CAGR of 7.5% from 2026 and reach $67,513.8 million in 2031.  

Growth in the historic period resulted from a rise in disposable income, high investments, adaption of the internet of things (IOT) and new product launches along with advanced features. Factors that negatively affected growth in the historic period were coronavirus pandemic and shortage in electronic components supply.

Going forward, increased internet penetration, a rise in merger and acquisition activity and growing demand for instant heating units will drive the market growth. Factors that could hinder the growth of the water heaters market in the future include rising interest rates and changing regulations.

Water Heaters Market Drivers

The key drivers of the water heaters market include:

Growing Demand For Instant Heating Units

Increasing adoption of instant heating technologies on account of the key advantages offered, including limited standby losses and high supply output, in comparison with conventional storage units, will help the market to grow in future. An Instant water heater is the prime solution to reduce wastage of water and time. An Instant water heater is installed near the hot water tap. When the user turns ON the tap, if the incoming water from the pipeline is cold, the system senses it and turns ON a heater thereby providing hot water. Once the hot water from the main solar heater starts flowing, this instant heating system turns OFF automatically and, in this way, the instant heating concept can save water, time, and energy.  Rising demand across commercial applications on account of advanced monitoring features comprising the saving of time, water, energy, among others will positively enhance the global water heater market size.

Water Heaters Market Restraints

The key restraints on the water heaters market include:

Rising Interest Rates

Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period. This is expected to limit new investments in the water heaters market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. These factors are expected to have a negative impact on the water heaters sector as borrowing money becomes expensive, thus limiting the growth of the water heaters market.

Water Heaters Market Trends

Major trends shaping the water heaters market include:

Emergence of Smart Water Heaters

The emergence of smart water heaters is a growing trend in the global water heater market. Water heaters consume a high level of energy in households, hence the emergence of smart water heaters, such as the Aquanta Smart Water Heater Controller, provides added benefits to preserve energy and increase the efficiency of the water heater. Integrated cell phone communication with users and hot water usage schedule, benefits the customer to regulate water heater through cell phones. This integrated smart system is designed to report energy consumption and other usage data. For instance, in 2022, Rheem Manufacturing Company produced a Wi-Fi device that works with electric and gas water heaters. The gadget can identify defections, track service diagnostics, and transfer structure status, in this way saving money on water and power utilization.

Growing Use of Hybrid Water System

The rising demand for hybrid water systems is a key trend in the global water heater market. Hybrid Water systems are also represented as heat pump water heaters, which are usually considered the most energy efficient water heaters on the market. Hybrid water heaters are a mixture of solar water heaters and normal water heaters, which are manufactured to overwhelm the disadvantages of normal water heaters. They are inexpensive to manage and have a much lower carbon footprint. Lots of proprietors can save $200 to $600 per year by switching to a hybrid water heater . The advantages of a hybrid water system are improving energy efficiency, being environmentally friendly, and providing reimbursements and incentives.

Opportunities And Recommendations In The Water Heaters Market

Opportunities –The top opportunities in the water heaters market by product type will arise in the electric heaters market, which will gain $9,859.4 million of global annual sales by 2026. The top opportunities in the water heaters market by end user will arise in the residential market, which will gain $10,305.0 million of global annual sales by 2026. The top opportunities in the water heaters market by distribution channel will arise in the specialty stores market, which will gain $9,369.9 million of global annual sales by 2026. The water heaters market size will gain the most in the USA at $3,602.6 million.

Recommendations-To take advantage of the opportunities, The Business Research Company recommends the water heaters companies to offer smart water heaters, offer hybrid water systems-based heaters, invest in energy efficient technologies, expand in emerging markets, continue to focus on colder regions, offer competitive pricing, continue to participate in trade shows and events, focus more on direct-to-consumer (DTC) advertising and increase focus on online customers.

Water Heaters Market Segmentation

The water heaters market is segmented by product type, by end-user, and by distribution channel.
By Product Type –
The water heaters market is segmented by product type into
    • a) Solar Heaters
    • b) Electric Heaters
    • c) Gas And Propane Heaters
    • d) Geothermal Heaters
The electric heater was the largest segment of the water heaters market by product type, accounting for $17,301.5 million or 58.7% of the total market in 2021. Solar heater is expected to be the fastest-growing segment going forward at a CAGR of 11.5%.
By End-User –
The water heaters market is segmented by end-user into
    • a) Residential
    • b) Commercial
    • c) Industrial
The residential market was the largest segment of the water heaters market by end user, accounting for $16,363.3 million or 55.5% of the total market in 2021. Residential is expected to be the fastest-growing segment going forward at a CAGR of 10.3%.
By Distribution Channel –
The water heaters market is segmented by distribution channel into
    • a) Supermarket/Hypermarket
    • b) Specialty Stores
    • c) E-Commerce
    • d) Others
The specialty stores was the largest segment of the water heaters market by distribution channel, accounting for $16,450.2 million or 55.8% of the total market in 2021. E-Commerce is expected to be the fastest-growing segment going forward at a CAGR of 13.3%.
By Geography - The water heaters market is segment by geography into
      o Asia Pacific
      • • China
      • • India
      • • Japan
      • • Australia
      • • Indonesia
      • • South Korea
      o North America
      • • USA
      o South America
      • • Brazil
      o Western Europe
      • • France
      • • Germany
      • • UK
      o Eastern Europe
      • • Russia
      o Middle East
      o Africa
Asia Pacific was the largest region in the global water heaters market, accounting for 34.1% of the global market in 2021. It was followed by North America, Western Europe and the other regions. Going forward, the fastest growing regions in the global water heaters market will be Asia Pacific and Middle East, where growth will be at CAGRs of 10.9% and 10.8% respectively from 2021-2026.

Water Heaters Market Competitive Landscape

Major Competitors are:

  • A. O. Smith Corporation
  • Rinnai Corporation
  • Vaillant Group
  • Ariston Thermo Group
  • Rheem Manufacturing Company
  • Other Competitors Include:

  • Viessmann Group
  • Haier Smart Home Co., Ltd.
  • Bradford White Corporation
  • Robert Bosch GmbH
  • Bajaj Electricals Ltd
  • Crompton Greaves Consumer Electricals Ltd.
  • Havells India Ltd.
  • Taian Haoli Solar Energy Technology Co., Ltd.
  • AquaWorld Group Co., Ltd.
  • Changzhou XNE Technology Co., Ltd.
  • Guangdong PHNIX Eco-Energy Solution Ltd.
  • Siemens AG
  • 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
  • Noritz Corporation
  • General Electric (GE)
  • ATMOR
  • Kyungdong Navien Co.,Ltd.
  • Viesmann Group
  • Whirlpool Corporation
  • Alfa Laval
  • Carrier Corporation
  • Apen Group
  • State Industries
  • 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.
    1. Table Of Contents

      1. Water Heaters Market Executive Summary

      2. Table of Contents

      3. List of Figures

      4. List of Tables

      5. Report Structure

      6. Introduction

      6.1. Segmentation By Geography

      6.2. Segmentation By Product Type

      6.3. Segmentation By End-User

      6.4. Segmentation By Distribution Channel

      7. Water Heaters Market Characteristics

      7.1. Market Definition

      7.2. Segmentation By Product Type

      7.2.1. Solar Heaters

      7.2.2. Electric Heaters

      7.2.3. Gas and Propane Heaters

      7.2.4. Geothermal Heaters

      7.3. Segmentation By End-User

      7.3.1. Residential

      7.3.2. Commercial

      7.3.3. Industrial

      7.4. Segmentation By Distribution Channel

      7.4.1. Supermarket/Hypermarket

      7.4.2. Specialty Stores

      7.4.3. E-Commerce

      7.4.4. Others

      8. Water Heaters Market Trends And Strategies

      8.1. Emergence of Smart Water Heaters

      8.2. Growing Use of Hybrid Water System

      8.3. Technological Advancements

      8.4. Energy Efficient Technologies

      8.5. Government Involvement

      8.6. Investments by Public Institutions in Water Heaters

      9. Impact Of COVID-19 On Water Heaters

      9.1. Introduction

      9.2. Impact on Labor Shortages

      9.3. Impact On Supply Chain

      9.4. Future Outlook

      10. Global Water Heaters Market Size And Growth

      10.1. Market Size

      10.2. Historic Market Growth, 2016 – 2021, Value ($ Million)

      10.2.1. Drivers Of The Market 2016 – 2021

      10.2.2. Restraints On The Market 2016 – 2021

      10.3. Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      10.3.1. Drivers Of The Market 2021 – 2026

      10.3.2. Restraints On The Market 2021 – 2026

      11. Global Water Heaters Market Segmentation

      11.1. Global Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      11.2. Global Water Heaters Market, Segmentation By End-Users, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      11.3. Global Water Heaters Market, Segmentation By Distribution Channel, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      12. Water Heaters Market, Regional And Country Analysis

      12.1. Global Water Heaters Market, By Region, Historic and Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      12.2. Global Water Heaters Market, By Country, Historic and Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13. Asia-Pacific Water Heaters Market

      13.1. Asia-Pacific Water Heaters Market Overview

      13.1.1. Region information

      13.1.2. Market Information

      13.1.3. Background Information

      13.1.4. Government Initiatives

      13.1.5. Regulations

      13.1.6. Regulatory Bodies

      13.1.7. Major Associations

      13.1.8. Taxes levied

      13.1.9. Corporate Tax Structure

      13.1.10. Investments

      13.1.11. Major Companies

      13.2. Asia-Pacific Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.3. Asia-Pacific Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.4. Asia-Pacific Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13.5. Asia-Pacific Water Heaters Market: Country Analysis

      13.6. China Water Heaters Market

      13.7. China Water Heaters Market Overview

      13.7.1. Country Information

      13.7.2. Market Information

      13.7.3. Background Information

      13.7.4. Government Initiatives

      13.7.5. Regulations

      13.7.6. Regulatory Bodies

      13.7.7. Major Associations

      13.7.8. Taxes Levied

      13.7.9. Corporate Tax Structure

      13.7.10. Investments

      13.7.11. Major Companies

      13.8. China Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.9. China Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.10. China Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13.11. India Water Heaters Market

      13.12. India Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.13. India Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.14. India Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13.15. Japan Water Heaters Market

      13.16. Japan Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.17. Japan Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.18. Japan Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13.19. Australia Water Heaters Market

      13.20. Australia Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.21. Australia Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.22. Australia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13.23. Indonesia Water Heaters Market

      13.24. Indonesia Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.25. Indonesia Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.26. Indonesia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      13.27. South Korea Water Heaters Market

      13.28. South Korea Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      13.29. South Korea Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      13.30. South Korea Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      14. Western Europe Water Heaters Market

      14.1. Western Europe Water Heaters Market Overview

      14.1.1. Region Information

      14.1.2. Market Information

      14.1.3. Background Information

      14.1.4. Government Initiatives

      14.1.5. Regulations

      14.1.6. Regulatory Bodies

      14.1.7. Major Associations

      14.1.8. Taxes Levied

      14.1.9. Corporate Tax Structure

      14.1.10. Investments

      14.1.11. Major Companies

      14.2. Western Europe Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      14.3. Western Europe Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      14.4. Western Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      14.5. Western Europe Water Heaters Market: Country Analysis

      14.6. UK Water Heaters Market

      14.7. UK Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      14.8. UK Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      14.9. UK Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      14.10. Germany Water Heaters Market

      14.11. Germany Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      14.12. Germany Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      14.13. Germany Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      14.14. France Water Heaters Market

      14.15. France Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      14.16. France Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      14.17. France Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      15. Eastern Europe Water Heaters Market

      15.1. Eastern Europe Water Heaters Market Overview

      15.1.1. Region Information

      15.1.2. Market Information

      15.1.3. Background Information

      15.1.4. Government Initiatives

      15.1.5. Regulations

      15.1.6. Regulatory Bodies

      15.1.7. Major Associations

      15.1.8. Taxes Levied

      15.1.9. Corporate Tax Structure

      15.1.10. Investments

      15.1.11. Major Companies

      15.2. Eastern Europe Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      15.3. Eastern Europe Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      15.4. Eastern Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      15.5. Eastern Europe Water Heaters Market: Country Analysis

      15.6. Russia Water Heaters Market

      15.7. Russia Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      15.8. Russia Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      15.9. Russia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      16. North America Water Heaters Market

      16.1. North America Water Heaters Market Overview

      16.1.1. Region Information

      16.1.2. Market Information

      16.1.3. Background Information

      16.1.4. Government Initiatives

      16.1.5. Regulations

      16.1.6. Regulatory Bodies

      16.1.7. Major Association

      16.1.8. Taxes Levied

      16.1.9. Corporate Tax Structure

      16.1.10. Investments

      16.1.11. Major Companies

      16.2. North America Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      16.3. North America Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      16.4. North America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      16.5. North America Water Heaters Market: Country Analysis

      16.6. USA Water Heaters Market

      16.7. USA Water Heaters Market Overview

      16.7.1. Country Information

      16.7.2. Market Information

      16.7.3. Background Information

      16.7.4. Government Initiatives

      16.7.5. Regulations

      16.7.6. Regulatory Bodies

      16.7.7. Major Associations

      16.7.8. Taxes Levied

      16.7.9. Corporate Tax Structure

      16.7.10. Investments

      16.7.11. Major Companies

      16.8. USA Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      16.9. USA Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      16.10. USA Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      17. South America Water Heaters Market

      17.1. South America Water Heaters Market Overview

      17.1.1. Region Information

      17.1.2. Market Information

      17.1.3. Background Information

      17.1.4. Government Initiatives

      17.1.5. Regulations

      17.1.6. Regulatory Bodies

      17.1.7. Major Associations

      17.1.8. Taxes Levied

      17.1.9. Corporate Tax Structure

      17.1.10. Investments

      17.1.11. Major Companies

      17.2. South America Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      17.3. South America Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      17.4. South America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      17.5. South America Water Heaters Market: Country Analysis

      17.6. Brazil Water Heaters Market

      17.7. Brazil Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      17.8. Brazil Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      17.9. Brazil Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      18. Middle East Water Heaters Market

      18.1. Middle East Water Heaters Market Overview

      18.1.1. Region Information

      18.1.2. Market Information

      18.1.3. Background Information

      18.1.4. Government Initiatives

      18.1.5. Regulations

      18.1.6. Regulatory Bodies

      18.1.7. Major Associations

      18.1.8. Taxes Levied

      18.1.9. Corporate Tax Structure

      18.1.10. Investments

      18.1.11. Major Companies

      18.2. Middle East Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      18.3. Middle East Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      18.4. Middle East Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      19. Africa Water Heaters Market

      19.1. Africa Water Heaters Market Overview

      19.1.1. Region Information

      19.1.2. Market Information

      19.1.3. Background Information

      19.1.4. Government Initiatives

      19.1.5. Regulations

      19.1.6. Regulatory Bodies

      19.1.7. Major Associations

      19.1.8. Taxes Levied

      19.1.9. Corporate Tax Structure

      19.1.10. Investments

      19.1.11. Major Companies

      19.2. Africa Water Heaters Market, Historic Market Growth, 2016 – 2021, Value ($ Million)

      19.3. Africa Water Heaters Market, Forecast Market Growth, 2021 – 2026, 2031F Value ($ Million)

      19.4. Africa Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)

      20. Water Heaters Market Competitive Landscape And Company Profiles

      20.1. Company Profiles

      20.2. A. O. Smith Corporation

      20.2.1. Company Overview

      20.2.2. Products And Services

      20.2.3. Business Strategy

      20.2.4. Financial Overview

      20.3. Rinnai Corporation

      20.3.1. Company Overview

      20.3.2. Products And Services

      20.3.3. Business Strategy

      20.3.4. Financial Overview

      20.4. Vaillant Group

      20.4.1. Company Overview

      20.4.2. Products And Services

      20.4.3. Business Strategy

      20.4.4. Financial Overview

      20.5. Ariston Thermo Group

      20.5.1. Company Overview

      20.5.2. Products And Services

      20.5.3. Business Strategy

      20.5.4. Financial Overview

      20.6. Rheem Manufacturing Company

      20.6.1. Company Overview

      20.6.2. Products And Services

      20.6.3. Business Strategy

      20.6.4. Financial Overview

      21. Key Mergers And Acquisitions In The Water Heaters Market

      21.1. Rheem Manufacturing Co Acquired Dejong from Nordian Capital

      21.2. Viessmann Group Acquired Pacifica Home Services Ltd. (PHS)

      21.3. Ariston Group acquired Chromagen

      21.4. A.O. Smith Acquired Giant Factories, Inc.

      21.5. Rinnai America Corporation Acquired Industrias MASS

      21.6. Bradford White Purchased Keltech, Inc. from Bradley Corporation.

      21.7. Rheem Acquired Intergas Verwarming BV

      21.8. Ariston Thermo Acquired Calorex

      21.9. Stiebel Eltron Acquires Danfoss Värmepumpar AB (Thermia)

      21.10. Ariston Thermo Acquired The Majority Of Atmor

      22. Global Water Heaters Market Opportunities And Strategies

      22.1. Global Water Heaters Market In 2026 – Countries Offering Most New Opportunities

      22.2. Global Water Heaters Market In 2026 – Segments Offering Most New Opportunities

      22.3. Global Water Heaters Market In 2026 – Growth Strategies

      22.3.1. Market Trend Based Strategies

      22.3.2. Competitor Strategies

      23. Water Heaters Market, Conclusions And Recommendations

      23.1. Conclusions

      23.2. Recommendations

      23.2.1. Product

      23.2.2. Place

      23.2.3. Price

      23.2.4. Promotion

      23.2.5. People

      24. Appendix

      24.1. Market Data Sources

      24.2. Research Methodology

      24.3. Currencies

      24.4. Research Inquiries

      24.5. The Business Research Company

      25. Copyright and Disclaimer

    List Of Tables

      Table 1: Global Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 2: Global Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 3: Global Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 4: Global Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 5: Global Water Heaters Market, Segmentation By End-Users, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 6: Global Water Heaters Market, Segmentation By End-Users, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 7: Global Water Heaters Market, Segmentation By Distribution Channel, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 8: Global Water Heaters Market, Segmentation By Distribution Channel, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 9: Global Water Heaters Market, By Region, Historic and Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 10: Global Water Heaters Market, By Region, Historic and Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 11: Global Water Heaters Market, By Country, Historic and Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 12: Global Water Heaters Market, By Country, Historic and Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 13: Asia-Pacific GDP Per Capita, By Country, 2016-2021, $
    • Table 14: Asia-Pacific Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 15: Asia-Pacific Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 16: Asia-Pacific Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 17: Asia-Pacific Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 18: China GDP Per Capita, 2016-2021, $
    • Table 19: China Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 20: China Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 21: China Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 22: China Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 23: India Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 24: India Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 25: India Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 26: India Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 27: Japan Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 28: Japan Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 29: Japan Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 30: Japan Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 31: Australia Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 32: Australia Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 33: Australia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 34: Australia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 35: Indonesia Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 36: Indonesia Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 37: Indonesia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 38: Indonesia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 39: South Korea Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 40: South Korea Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 41: South Korea Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 42: South Korea Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 43: Western Europe GDP Per Capita, By Country, 2016-2021, $
    • Table 44: Western Europe Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 45: Western Europe Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 46: Western Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 47: Western Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 48: UK Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 49: UK Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 50: UK Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 51: UK Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 52: Germany Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 53: Germany Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 54: Germany Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 55: Germany Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 56: France Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 57: France Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 58: France Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 59: France Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 60: Eastern Europe GDP Per Capita, By Country, 2016-2021, $
    • Table 61: Eastern Europe Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 62: Eastern Europe Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 63: Eastern Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 64: Eastern Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 65: Russia Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 66: Russia Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 67: Russia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 68: Russia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 69: North America GDP Per Capita, By Country, 2016-2021, $
    • Table 70: North America Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 71: North America Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 72: North America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 73: North America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 74: USA GDP Per Capita, 2016-2021, $
    • Table 75: USA Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 76: USA Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 77: USA Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 78: USA Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 79: South America GDP Per Capita, By Country, 2016-2021, $
    • Table 80: South America Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 81: South America Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 82: South America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 83: South America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 84: Brazil Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 85: Brazil Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 86: Brazil Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 87: Brazil Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 88: Middle East GDP Per Capita, By Country, 2016-2021, $
    • Table 89: Middle East Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 90: Middle East Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 91: Middle East Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 92: Middle East Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 93: Africa GDP Per Capita, By Country, 2016-2021, $
    • Table 94: Africa Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Table 95: Africa Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Table 96: Africa Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Table 97: Africa Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, $ Million
    • Table 98: Global Water Heaters Market, Key Competitor Estimated Market Shares, 2021, Percentage (%)
    • Table 99: A. O. Smith Corporation – Financial Overview, 2017 - 2021, $ Billion
    • Table 100: Rinnai Corporation – Financial Overview, 2016 - 2020, $ Billion
    • Table 101: Ariston Thermo Group – Financial Overview, 2017 - 2021, $ Billion
    • Table 102: Global Water Heaters Market Size Gain ($ Million), 2021 – 2026, By Country
    • Table 103: Global Water Heaters Market Size Gain ($ Million), Segmentation By Product Type, 2021 – 2026
    • Table 104: Global Water Heaters Market Size Gain ($ Million), Segmentation By End-Users, 2021 – 2026
    • Table 105: Global Water Heaters Market Size Gain ($ Million), Segmentation By Distribution Channel, 2021 – 2026
    • Table 106: Water Heaters - Market Data Sources

    List Of Figures

      Figure 1: Global Water Heaters Market Segmentation By Product Type
    • Figure 2: Global Water Heaters Market Segmentation By End-User
    • Figure 3: Global Water Heaters Market Segmentation By Distribution Channel
    • Figure 4: Global Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 5: Global Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 6: Global Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 7: Global Water Heaters Market, Segmentation By End-Users, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 8: Global Water Heaters Market, Segmentation By Distribution Channel, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 9: Global Water Heaters Market, By Region, Historic and Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 10: Global Water Heaters Market, By Country, Historic and Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 11: Asia-Pacific Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 12: Asia-Pacific Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 13: Asia-Pacific Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 14: China Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 15: China Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 16: China Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 17: India Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 18: India Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 19: India Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 20: Japan Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 21: Japan Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 22: Japan Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 23: Australia Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 24: Australia Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 25: Australia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 26: Indonesia Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 27: Indonesia Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 28: Indonesia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 29: South Korea Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 30: South Korea Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 31: South Korea Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 32: Western Europe Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 33: Western Europe Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 34: Western Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 35: UK Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 36: UK Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 37: UK Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 38: Germany Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 39: Germany Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 40: Germany Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 41: France Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 42: France Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 43: France Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 44: Eastern Europe Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 45: Eastern Europe Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 46: Eastern Europe Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 47: Russia Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 48: Russia Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 49: Russia Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 50: North America Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 51: North America Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 52: North America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 53: USA Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 54: USA Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 55: USA Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 56: South America Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 57: South America Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 58: South America Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 59: Brazil Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 60: Brazil Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 61: Brazil Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 62: Middle East Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 63: Middle East Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 64: Middle East Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 65: Africa Water Heaters Market, Historic, 2016 – 2021, $ Million
    • Figure 66: Africa Water Heaters Market, Forecast, 2021 – 2026, 2031F, $ Million
    • Figure 67: Africa Water Heaters Market, Segmentation By Product Type, Historic And Forecast, 2016 – 2021, 2026F, 2031F, %
    • Figure 68: Global Water Heaters Market, Key Competitor Estimated Market Shares, 2021, Percentage (%)
    • Figure 69: A. O. Smith Corporation – Financial Overview, 2017 – 2021, $ Billion
    • Figure 70: Rinnai Corporation – Financial Overview, 2016 – 2020, $ Billion
    • Figure 71: Ariston Thermo Group – Financial Overview, 2017 – 2021, $ Billion
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