Water Heaters Global Market Report 2020
February 2020
200
About the Report
About the Report
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 global water heaters market was worth USD 18.04 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 0.15% and reach USD 31.12 billion by 2023.
The water heaters market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific accounts for around 53% of the market.
The water heaters market covered in this report is segmented by type into solar heaters, electric heaters, gas and propane heaters, geothermal heaters. It is also segmented By End User into residential, commercial , industrial. It is also segmented by distribution channel into supermarket/hypermarket, specialty stores, E-commerce, others (wholesalers, distributors)
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 and reach 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. Globally, electricity prices are rising due to increasing transmission costs. In 2019, Australian government announced a price hike of AUD50 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 USD 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 market are Siemens AG, Bajaj Electricals Ltd, Bradford White, Rinnai, HTP, Bradford White, Rheem Manufacturing Co, Heat Transfer Products Inc, Bradford White Corp, Noritz Corp
Products
Products
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 (Wholesalers, distributors)
Companies
Siemens AG
Bajaj Electricals Ltd
Bradford White
Rinnai
HTP
Bradford White
Rheem Manufacturing Co
Heat Transfer Products Inc
Bradford White Corp
Noritz Corp
Crompton Greaves Ltd
Haier Water Heater Co. Ltd
Ariston Thermo SPA
Sun Tank
Alternate Energy Technologies
A.O Smith
Viessmann
Rheem manufacturing
Wagner Solar
Linuo Ritter
Bosch
Racold
V Guard Industries
Himin Solar Energy
Chromagen
Venus Home Appliances
AO Smith
Rheem Manufacturing
Siemens
Ariston Thermo
Bajaj Electricals
Table of Contents
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, USD 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, USD 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, USD Billion
Solar Heaters
Electric Heaters
Gas and Propane Heaters
Geothermal Heaters
4.2. Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Residential
Commercial
Industrial
4.3. Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Supermarket/Hypermarket
Specialty Stores
E-Commerce
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, USD Billion
5.2. Global Water Heaters Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
6. Asia-Pacific Water Heaters Market
6.1. Asia-Pacific Water Heaters Market Overview
6.2. Asia-Pacific Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
7. China Water Heaters Market
7.1. China Water Heaters Market Overview
7.2. China Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion
8. India Water Heaters Market
8.1. India Water Heaters Market Overview
8.2. India Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
9. Japan Water Heaters Market
9.1. Japan Water Heaters Market Overview
9.2. Japan Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
10. Australia Water Heaters Market
10.1. Australia Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
11. Indonesia Water Heaters Market
11.1. Indonesia Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
12. South Korea Water Heaters Market
12.1. South Korea Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
13. Western Europe Water Heaters Market
13.1. Western Europe Water Heaters Market Overview
13.2. Western Europe Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
14. UK Water Heaters Market
14.1. UK Water Heaters Market Overview
14.2. UK Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
15. Germany Water Heaters Market
15.1. Germany Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
16. France Water Heaters Market
16.3. France Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
17. Eastern Europe Water Heaters Market
17.1. Eastern Europe Water Heaters Market Overview
17.2. Eastern Europe Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
18. Russia Water Heaters Market
18.1. Russia Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
19. North America Water Heaters Market
19.1. North America Water Heaters Market Overview
19.2. North America Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
20. USA Water Heaters Market
20.1. USA Water Heaters Market Overview
20.2. USA Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
21. South America Water Heaters Market
21.1. South America Water Heaters Market Overview
21.2. South America Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
22. Brazil Water Heaters Market
22.1. Brazil Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
23. Middle East Water Heaters Market
23.1. Middle East Water Heaters Market Overview
23.2. Middle East Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
24. Africa Water Heaters Market
24.1. Africa Water Heaters Market Overview
24.2. Africa Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
25. Water Heaters Market Competitive Landscape And Company Profiles
25.1. Water Heaters Market Competitive Landscape
25.2. Water Heaters Market Company Profiles
25.2.1. Siemens AG
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. Bajaj Electricals Ltd
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. Bradford White
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. Rinnai
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. HTP
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers And Acquisitions In The Water Heaters Market
27. Water Heaters Market Trends And Strategies
28. Water Heaters Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. The Business Research Company
29.5. Copyright And Disclaimer
List of Figure
Figure 1: Global Historic Market Growth, 2015-2019, USD Billion
Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 3: Global Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 4: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 5: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 6: Global Water Heaters Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 7: Global Water Heaters Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 8: Asia-Pacific, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 9: China, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 10: India, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 11: Japan, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 12: Australia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 13: Indonesia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 14: South Korea, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 15: Western Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 16: UK, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 17: Germany, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 18: France, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 19: Eastern Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 20: Russia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 21: North America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 22: USA, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 23: South America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 24: Brazil, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 25: Middle East, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 26: Africa, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD 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
List of Table
Table 1: Global Historic Market Growth, 2015-2019, USD Billion
Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 3: Global Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 4: Global Water Heaters Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 5: Global Water Heaters Market, Segmentation By Distribution channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 6: Global Water Heaters Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 7: Global Water Heaters Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 8: Asia-Pacific, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 9: China, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 10: India, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 11: Japan, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 12: Australia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 13: Indonesia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 14: South Korea, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 15: Western Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 16: UK, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 17: Germany, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 18: France, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 19: Eastern Europe, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 20: Russia, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 21: North America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 22: USA, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 23: South America, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 24: Brazil, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 25: Middle East, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 26: Africa, Water Heaters Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD 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
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