(Companies: Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc., Bradford White Corp, and Noritz Corp)
The global water heaters market was worth $18.04 billion in 2019. In 2019, Asia Pacific accounted for around 53% of the market.
The water heater 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.
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The global water heaters market is expected to grow at a rate of about 0.15% and reach $31.12 billion by 2023. Rapid urbanization is expected to contribute to the growth of the water heaters market in the forecast period. Globally, the percentage of population living in urban areas is expected to increase from 55% in 2018 to 68% by 2050. 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.
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 as well as 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.
Major players in the market are Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc., Bradford White Corp, and Noritz Corp.
Bradford White is an employee-owned American manufacturer of residential and commercial water heaters headquartered in Ambler, Pennsylvania, with its manufacturing facility located in Middleville, Michigan.
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Points From Table of Contents:
1. Executive Summary
2. Water Heaters Market Characteristics
3. Water Heaters Market Size And Growth
3.1. Global Water Heaters Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Water Heaters Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Water Heaters Market Segmentation
4.1. Global Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Gas and Propane Heaters
4.2. Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Others (Wholesalers, distributors)
5. Water Heaters Market Regional And Country Analysis
5.1. Global Water Heaters Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Water Heaters Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Water Heaters Market
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