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Water Heater Market Share

Report ID: GMI2831
Published Date: Dec 2024
Report Format: PDF

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Water Heater Market Share

The market is made up of a mix of large multinational corporations, regional players, and smaller niche companies, each targeting different segments and consumer needs. These firms are adopting strategies like business expansions to broaden their customer base in the industry. Companies that can offer products that save consumers money on utility bills are becoming more competitive. Further, manufacturers that offer such sustainable solutions are gaining a competitive edge, especially in markets with stringent environmental regulations.

Water Heater Market Companies

Eminent players operating in the water heater industry are:

AERCO
A. O. Smith
Ariston Holding N.V.
Bosch Thermotechnology
Bradford White Corporation
GE Appliances
Groupe Atlantic
Heatrae Sadia
Haier Inc.
Havells India Ltd
Jaquar India
JOVEN Electric Co. Sdn.
ORBITAL HORIZON
Panasonic Philippines
Racold
Rheem Manufacturing Company
Rinnai Corporation
STIEBEL ELTRON
State Industries
Thermex Corporation
Thermann
Toshiba Lifestyle Products and Services Corporation
Vaillant Group International
Viessmann

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market size for water heater was valued at USD 33.7 billion in 2024 and is projected to reach USD 57.8 billion by 2034, driven by a CAGR of 5.6% from 2025 to 2034.

The water heater industry from residential water heater segment is expected to grow to more than USD 43.5 billion by 2034, driven by increasing adoption in new residential constructions prioritizing space efficiency and energy savings.

The U.S. market is anticipated to exceed USD 5 billion by 2034, driven by increased adoption of green certifications and federal and state incentives for energy-efficient water heaters.

Major players in the industry include AERCO, A. O. Smith, Ariston Holding N.V., Bosch Thermotechnology, Bradford White Corporation, GE Appliances, Groupe Atlantic, Heatrae Sadia, Haier Inc., Havells India Ltd, and Jaquar India.