Saudi Arabia Water Heater Market Size - By Product, By Application, By Capacity, By Fuel, Forecast, 2024 – 2032

Saudi Arabia Water Heater Market Size

Saudi Arabia Water Heater Market size was valued at USD 542.7 million in 2023 and is anticipated to grow at a CAGR of 5% between 2024 and 2032. A water heater is an appliance designed to heat water for various residential and commercial purposes, such as bathing, cooking, cleaning, and space heating. Water heaters are used in various settings, including homes, offices, restaurants, and industrial facilities, providing essential hot water for daily activities and processes.
 

Organizations including the Saudi Standards, Metrology and Quality Organization (SASO) oversee the implementation of standards and regulations. Ongoing support for funding and support for research and development initiatives aimed at advancing energy-efficient technologies will drive the business scenario. Government-backed pilot projects demonstrate the effectiveness of new technologies and encourage private sector adoption.
 

Growing implementation of strict energy efficiency standards for appliances, including water heaters. These regulations mandate minimum efficiency levels, pushing manufacturers to innovate and produce more energy-efficient models. Energy efficiency labeling programs help consumers identify products that meet specific efficiency criteria.
 

The Saudi Arabia’s Vision 2030 outlines ambitious goals for energy diversification and sustainability. The National Energy Efficiency Program (NEEP) aims to improve the efficiency of energy use across various sectors, including residential heating. In addition, new building codes in Saudi Arabia increasingly require energy-efficient appliances, including water heaters, in residential and commercial properties.
 

Saudi Arabia Water Heater Market Trends

Smart water heaters equipped with IoT features allow users to monitor and control settings remotely, enhancing convenience and energy savings. Further, many water heaters come with dedicated mobile apps that provide an intuitive interface for users to manage their systems. They can often integrate seamlessly with other smart home devices, such as thermostats and home assistants, allowing for coordinated management of home energy use, enhancing the overall efficiency.
 

Saudi Arabia Water Heater Market Analysis

Based on product, the market is segmented into instant and storage. Storage segment is set to reach USD 695 million by 2032 driven by consumer preferences, technological advancements, and regulatory influences. Consumers are increasingly opting for storage water heaters that offer higher energy efficiency ratings. Growing interest in hybrid storage water heaters that combine traditional heating elements with heat pump technology will augment the product demand. Consumers are prioritizing durability and reliability in storage water heaters, thereby seeking models that can withstand the region's extreme temperatures and provide consistent performance over time, strengthening the industry landscape.
 

Based on application, the Saudi Arabia water heater market is segmented into residential and commercial. Residential segment is set to grow over CAGR of 5% through 2032 owing to technological advancements, changing consumer preferences, economic conditions, and regulatory initiatives. Increasing awareness of energy consumption and costs along with various benefits catering to various consumer needs and preferences will drive the industry scenario.
 

Incorporation of smart technology equipped with features including remote monitoring, mobile app control, and adaptive heating systems are appealing to tech-savvy consumers who value convenience and efficiency. Furthermore, incentives for energy-efficient products and compliance with energy standards will support encourage consumers to choose modern water heating solutions, augmenting the business landscape.
 

Based on fuel, the Saudi Arabia water heater market is segmented into natural gas and LPG. Natural Gas segment is anticipated to surpass USD 40 million by 2032 shaped by including economic conditions, energy policies, consumer preferences, and technological advancements. Natural gas is less expensive than electricity in Saudi Arabia, making natural gas water heaters an appealing option for households thereby reducing their energy bills. They heat water more quickly and efficiently in comparison to electric models, thereby being beneficial for households with high hot water demand.
 

Moreover, policies aimed at enhancing energy efficiency may favor the adoption of gas appliances, including water heaters. Ongoing investments in natural gas infrastructure support wider access and adoption, particularly across urban areas, continuing to the business momentum.
 

Saudi Arabia Water Heater Market Share

The competitive landscape of the water heater industry in Saudi Arabia is shaped by various factors, including consumer preferences, technological advancements, and economic conditions. Major global brands like Rheem, A. O. Smith, and Bosch have a significant presence, offering advanced technologies and energy-efficient models. The Saudi government has been promoting energy efficiency and sustainability, influencing the market dynamics and encouraging manufacturers to innovate. Home improvement stores and specialized retailers play a crucial role in product availability. Online sales channels are growing, providing consumers with more options and convenience.
 

Saudi Arabia Water Heater Market Companies

Eminent players operating in the Saudi Arabia water heater industry are:

• A.O. Smith
• Ariston Holding
• Bradford White Corporation
• Ecotherm Austria
• GE Appliances
• Jaquar KSA
• Orbital Horizon
• Reem Water Heater Company
• Rheem Manufacturing Company
• Richmond Water Heaters
• Robert Bosch Middle East FZE
• Saudi Ceramics Company
• State Water Heaters
• Viessmann Group
• Watts
   

Saudi Arabia Water Heater Industry News

• In January 2022, GE Appliances unveiled RealMAX, marking its debut in the comprehensive atmospheric gas water heater series. This series encompasses atmospheric gas, electric, tankless, and point-of-use water heaters, catering to various capacities. These state-of-the-art products, boasting capacities ranging from 113 to 190 liters, are designed for easy installation, come equipped with an LED indicator, and are built for durability, making them suitable for both residential and light commercial applications. This strategic launch bolstered the company's portfolio and expanded its presence in the industry.
   
• In October 2022, Bradford White Corporation unveiled its latest offerings: the Infiniti GS and GR tankless water heaters. These new models come equipped with multiple venting options, optional commercial rack mounts, and durable stainless-steel heat exchangers. By introducing these efficient and reliable models, Bradford White aims to cater to the diverse needs of both commercial and residential sectors, bolstering its position in the water heater industry.
   

The Saudi Arabia water heater market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “’000 Units & USD Million” from 2021 to 2032, for the following segments:

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Market, By Product

• Instant
  • Electric
  • Gas
• Storage
  • Electric
  • Gas

Market, By Application

• Residential
• Commercial
  • College/University
  • Offices
  • Government/Military
  • Others

Market, By Capacity

• <30 Liters
• 30 – 100 Liters
• 100 – 250 Liters
• 250 – 400 Liters
• > 400 Liters

Market, By Fuel

• Natural Gas
• LPG