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Latin America Electric Water Heater Market Size

Report ID: GMI7257
Published Date: Nov 2024
Report Format: PDF

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Latin America Electric Water Heater Market Size

Latin America Electric Water Heater Market was valued at USD 7.88 billion in 2024 and is estimated to grow at a CAGR of 3.8% from 2025 to 2034. An electric water heater heats and stores water for domestic purposes, including bathing, cleaning, cooking, and space heating. The appliance uses electric resistance heating elements to warm the water in a tank, which is subsequently supplied to faucets and fixtures as required. There are various types of water heaters based on factors including hot water demand, efficiency, and initial cost.

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Growing focus on developing models that exceed energy efficiency standards will boost the business statistics. These models help the consumers save on electricity costs and reduce their carbon footprint. Continuous introduction of energy-efficient devices that offer convenient solutions to end users will drive the industry scenario. Additionally, ongoing development of advanced products by major players will increase product demand.

Latin America Electric Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2024
Latin America Electric Water Heater Market Size in 2024:	USD 7.88 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	3.8%
2034 Value Projection:	USD 11.27 Billion
Historical Data for:	2021 to 2023
No. of Pages:	70
Tables, Charts & Figures:	20
Segments covered:	Product, Capacity, Application, and Country
Growth Drivers:	Rigorous standards for energy efficiency Accelerating urbanization and growing advancement of products Increasing demand for water heaters with low energy consumption
Pitfalls & Challenges:	High installation cost

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Government strategies and regulations worldwide are increasingly emphasizing the utilization of enhanced energy efficiency in buildings and infrastructure. Surging demand for hot water across various establishments is set to reshape the industry landscape. Additionally, the booming e-commerce sector, with major players expanding their online distribution networks, is poised to further boost product demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The Latin American market for electric water heater was reached USD 7.88 billion in 2024 and is estimated to grow at a 3.8% CAGR from 2025 to 2034, driven by stringent energy efficiency standards.

The storage segment is anticipated to exceed USD 2.1 billion by 2034, due to the development of smart cities and low-emission buildings.

The residential segment is projected to grow at over a 3% CAGR by 2034, supported by low maintenance and installation costs.

The Brazil electric water heater market is expected to reach over USD 7.9 Billion by 2034, driven by heightened consumer awareness of energy-efficient units and rising disposable incomes.

Key players in the industry include A. O. Smith, American Standard Water Heaters, Ariston Holding, Bosch Thermotechnology, Bradford White Corporation, GE Appliances, Groupe Atlantic, Linuo Ritter International, Midea, Parker Boiler Company, Rinnai Corporation, Rheem Manufacturing, Stiebel Eltron, Viessmann, Watts, Whirlpool Corporation, and Westinghouse Electric Corporation.