Middle East Water Heater Market worth over $3 Bn by 2030

Middle East Water Heater Market size is set to surpass USD 3 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The industry growth is credited to the rising demand for energy-efficient water heating systems along with significant investments toward the usage of modern technologies. Shifting customer inclination toward ecofriendly, safe & reliable solutions for hot water supply across residential and commercial establishments will boost the industry dynamics. Continuous refurbishment and replacement of the conventional heating units will increase the product penetration.
 

The COVID- 19 outbreak has put the HVAC industry on halt in terms of strict government imposed lockdowns coupled with reduced number of industrial operations. However, the reopening of various component manufacturing facilities along with ongoing vaccination drives will fuel the industry expansion. Furthermore, government norms and policies to reduce the carbon footprint and growth in the ecommerce sector is anticipated to enhance the business trends.
 

Browse key industry insights spread across 300 pages with 501 market data tables & 30 figures & charts from the report, Middle East Water Heater Market Size, By Product (Instant [Electric, Gas], Storage [Electric {<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters}, Gas{<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters}]), By Capacity (<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military, Others]), By Fuel (Natural Gas, LPG), COVID-19 Impact Analysis, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-water-heater-market
 

Rapid urbanization and industrialization along with continuous product advancements owing to adoption of effective heating solutions will sway the product demand

Storage water heater market is projected to showcase substantial gains during the forecast period. This growth is attributed to the growing construction activities. Continuous improvement in the grid infrastructure coupled with significant investments in private & public sectors will augment the industry landscape. For instance, in November 2021, Azizi Developments partnered with Sadara General Trading to supply energy-efficient & renewable electric water heaters. Additionally, efficient energy use, cost-effectiveness, safe operation, easy installation, and low maintenance are some of the features which will complement the industry outlook.
 

Increasing requirement for multi capacity HVAC systems

30 - 100 liters water heater market is predicted to witness significant growth on account of modern product developments, surging industrialization along with significant economic transformations. For instance, according to World Bank, in 2021, the urban population for Saudi Arabia and UAE combined was more than 80%. Ongoing green infrastructure development to cater to the increasing carbon emissions along with the introduction of various standards & building codes including the Saudi Arabia’s green building rating system for efficient energy conservation will proliferate the market trends.
 

Continuous development of the water heating appliances coupled with extensive research & development activities

The Middle East water heater market for residential application is estimated to attain a more than 7% growth rate till 2030. Rising hot water demand across the domestic establishments including single and multi-family apartments in line with continuous investments for infrastructure development will contribute to the business scenario. Reduced energy consumption, on-demand water supply in line with significant space savings across the domestic facilities will propel the market growth. Growing consumer inclination toward the acceptance of renewable technologies along with continuous replacement of the traditional units to prevent water damage will stimulate the business landscape.
 

Consumer shift toward the adoption of higher efficiency systems along with rising focus to reduce the carbon footprint

LPG segment in the Middle East water heater market is poised to register a 7.5% CAGR through 2030. Shifting consumer preferences toward the acceptance of energy efficient heating systems along with the continuous development of the advanced heating technologies will raise the market expansion. Low operating costs, flexible designs, simple installation, higher efficiency, and low maintenance are some of the key attributes complementing the product adoption. Moreover, the growing requirement for energy conservation along with the robust expansion of high-end technologies will drive the market dynamics.
 

Ongoing initiatives toward the development of green infrastructure along with rising disposable incomes and robust urbanization

Qatar Water Heater market will witness substantial growth in the forecast timeline due to the ongoing incentives and programs toward the development of modern heating facilities and robust research & development activities. For instance, in May 2022, Iberdrola and the Qatar Investment Promotion Agency (IPA Qatar) signed an agreement to expand the digitalization of Qatar’s electricity sector. The collaboration will contribute to the expansion of the grid network along with the development of innovative solutions for a net-zero environment. In addition, growing concern toward the carbon emissions in line with the adoption of renewable heating solutions will fuel the product demand.
 

Continuous product innovations along with strategic inorganic ventures by major industry players

Key companies operating in the Middle East water heater market are Hubbell, State Industries, Rheem Manufacturing Company, Rinnai Corporation., Saudi Ceramics Company, GE Appliances, Bradford White Corporation, Vaillant, Bosch Thermotechnology Corp., Ariston Holding N.V., Jaquar Middle East, and A.O. Smith among others. Strategic collaborations, acquisitions, joint ventures, and mergers in line with the development of advanced solutions will foster the market progression.