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Water Heating Market Trends

Report ID: GMI9758
Published Date: Jun 2024
Report Format: PDF

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Water Heating Market Trends

Rising energy costs and growing environmental concerns are pushing businesses to invest in equipment that minimizes fuel consumption and lowers emissions, stimulating the business scenario. Ongoing technological advancements along with supportive government regulations, codes, and standards promoting safety & adoption across diverse applications is influencing the growth trajectory of the water heating industry. The increasing demand for clean energy solutions coupled with imperatives to mitigate carbon emissions will positively impact the industry landscape.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Global water heating industry was valued at USD 121.4 billion in 2023 and is anticipated to register 7.5% CAGR between 2024 and 2032 due to the increasing demand for water heating systems and stringent policy frameworks for the development of green buildings.

The water heater segment in the water heating industry is set to reach USD 60 billion by 2032 with rising construction expenditures and growing consumer awareness and environmental considerations.

Europe water heating market size is expected to reach USD 100 billion by 2032 due to favorable regulatory policies promoting the deployment of efficient electrical equipment and the strategic partnerships among major players.

A.O. Smith, ALFA LAVAL, Ariston Holding N.V., Bajaj Electricals, BDR Thermea Group, Bradford White Corporation, Crompton, DAIKIN INDUSTRIES, Ltd., Danfoss, and Emerson Electric Co., among others.