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Residential Water Heater Market Share
Industry collaborations in the residential water heater industry have been instrumental in driving innovation, expanding market reach, and improving product offerings. Development and marketing of tankless water heaters and development of energy efficient water heating solutions will drive the business scenario. Further, integration of renewable energy sources with water heating systems along with research on advanced water heating technologies and smart systems is set to augment the business landscape.
Residential Water Heater Market Companies
Eminent players operating in the residential water heater industry are:
- A. O. Smith India Water Products Pvt. Ltd.
- Ariston Holding N.V.
- American Standard Water Heaters
- Bosch Thermotechnology Corp.
- Bradford White Corporation, USA
- Ferroli S.p.A
- GE Appliances
- Haier Inc.
- Havells India Ltd.
- Lennox International Inc.
- NORITZ Corporation
- Racold
- Rheem Manufacturing Company
- Rinnai America Corporation
- State Industries
- Vaillant
- Westinghouse Electric Corporation
Why is the demand for storage residential water heater rising?
The storage segment in the residential water heater market is anticipated to reach USD 24.5 billion by 2032, due to minimized cost, high-energy savings, easy installation, quick & simple maintenance and water storage for longer duration.
What is the size of the residential water heater market?
The market size of residential water heater was worth about USD 26.9 billion in 2023 and is anticipated to register 5.5% CAGR between 2024 and 2032, due to the rapid urbanization and government mandates pertaining to GHG emissions.
How big is the Asia Pacific residential water heater industry?
Asia Pacific residential water heater market is set to cross USD 13.5 billion by 2032, driven by presence of a robust regulatory framework and continuous introduction of several building codes and standards.
Who are the leading residential water heater market players?
A. O. Smith India Water Products Pvt. Ltd., Ariston Holding N.V., American Standard Water Heaters, Bosch Thermotechnology Corp., Bradford White Corporation, USA, Ferroli S.p.A, GE Appliances, and Haier Inc., among others.