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Saudi Arabia Water Heater Market Size

Report ID: GMI2669
Published Date: Nov 2024
Report Format: PDF

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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.

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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.

Saudi Arabia Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2023
Saudi Arabia Water Heater Market Size in 2023:	USD 542.7 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5%
2032 Value Projection:	USD 832.7 Million
Historical Data for:	2021 - 2023
No. of Pages:	60
Tables, Charts & Figures:	15
Segments covered:	Product, Application, Capacity, and Fuel
Growth Drivers:	Growing demand for energy efficient products Shifting focus on emission reduction Rapid urbanization and rising demand for product customization
Pitfalls & Challenges:	High installation cost

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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.

Authors: Ankit Gupta, Sristhi Agrawal

Frequently Asked Questions (FAQ) :

The market size for water heater in Saudi Arabia reached USD 542.7 million in 2023 and is set to grow at a 5% CAGR from 2024 to 2032, driven by rising demand for energy-efficient products.

The storage water heater segment is set to reach USD 695 million by 2032, led by consumer preferences for higher energy efficiency ratings and technological advancements.

The residential segment is projected to grow at a 5% CAGR through 2032 due to technological advancements, changing consumer preferences, and regulatory initiatives.

Key players in the market include A.O. Smith, Ariston Holding, Bradford White Corporation, Ecotherm Austria, GE Appliances, Jaquar KSA, Orbital Horizon, Reem Water Heater Company, Rheem Manufacturing Company.