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Electric Water Heater Market Share

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

Electric Water Heater Market Share

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.

Electric Water Heater Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 26
  • Tables & Figures: 20
  • Countries covered: 23
  • Pages: 80
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