Home > Industrial Machinery > HVAC > Water Heater > Electric Water Heater Market

Electric Water Heater Market Share

Report ID: GMI680
Published Date: Dec 2024
Report Format: PDF

Download Free Sample

Electric Water Heater Market Share

Electric Water Heater Company Market Share, 2024

The electric water heater industry is highly competitive, with a diverse range of players offering various product types. It is increasingly shaped by technological advancements, consumer preferences for energy efficiency, and rising environmental concerns. The market is characterized by both established industry giants and smaller, specialized players, offering a broad range of electric water heating solutions for residential, commercial, and industrial applications. Companies are continuously investing in R&D to improve efficiency, reduce environmental impact, and enhance consumer convenience.

Electric Water Heater Market Companies

Eminent players operating in the electric water heater industry are:

A. O. Smith
Ariston Holding N.V.
American Standard Water Heaters
Bosch Thermotechnology Corp.
Bradford White Corporation
FERROLI
GE Appliances
Groupe Atlantic
Haier
Havells India
Hubbell Heaters
LINUO RITTER INTERNATIONAL
Nihon Itomic Co., Ltd.
Noritz Corporation
Parker Boiler Company
Racold
Rheem Manufacturing Company
Rinnai Corporation
State Industries
STIEBEL ELTRON
Vaillant
Viessmann
Westinghouse Electric Corporation
Whirlpool Corporation
Watts
Zenith Water Heaters

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of electric water heater reached USD 23.8 billion in 2024 and is set to grow at a 4.2% CAGR from 2025 to 2034, driven by rapid urbanization and advancing product customization.

The residential segment is set to expand at a CAGR of over 4% through 2034, as many residential customers opt for Energy Star-certified electric water heaters to save on energy costs and qualify for rebates and incentives.

The U.S. market is anticipated to reach USD 2 billion by 2034, led by energy efficiency, environmental concerns, technological advancements, and regulatory changes.

The key players in the industry include A. O. Smith, Ariston Holding N.V., American Standard Water Heaters, Bosch Thermotechnology Corp., Bradford White Corporation, FERROLI, GE Appliances, Groupe Atlantic, Haier, Havells India, Hubbell Heaters, LINUO RITTER INTERNATIONAL, Nihon Itomic Co., Ltd., Noritz Corporation, Parker Boiler Company, Racold.