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Europe Residential Water Heater Market Trends

Report ID: GMI9833
Published Date: Jun 2024
Report Format: PDF

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Europe Residential Water Heater Market Trends

European Union's directives, such as the Ecodesign Directive and the Energy Labelling Directive, have been pivotal in driving the adoption of energy-efficient water heaters. These regulations set minimum energy performance standards and mandate clear labeling to inform consumers about the energy efficiency of products. Rising integration of Internet of Things (IoT) technology in water heaters providing usage data, and integrate with home automation systems, offering greater convenience and energy savings will boost the product penetration.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

European market for residential water heater was exceeded USD 3.92 billion in 2023 and is anticipated to grow at 5.7% CAGR through 2032, owing to the rising demand for energy efficient water heating systems.

The instant segment in the Europe residential water heater market is anticipated to exceed USD 2.21 billion by 2032, driven by their space efficiency, energy savings, convenience, and alignment with modern living trends.

U.K. residential water heater market will cross USD 896 million by 2032, attributed to the high solar potential, increasing focus on energy efficiency and renewable energy integration.

A.O. Smith Water Products Company B.V, Ariston Holding N.V., Bosch Industriekessel GmbH 2024, Bradford White Corporation, USA, Ferroli S.p.A, Haier Inc., Lennox International Inc., NORITZ Corporation, Rheem Manufacturing Company, and Rinnai Corporation.