Saudi Arabia Water Heater Market worth over $1.2 Bn by 2030

Saudi Arabia Water Heater Market size is set to surpass USD 1.2 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The industry growth is credited to the rapid urbanization pertaining to significant economic transformations. Favorable government mandates and laws toward the development of efficient & sustainable energy systems along with continuous technological advancements in efficient water heating systems will boost the industry expansion. In addition, the rising demand for space heating coupled with the ongoing replacement of traditional heating systems with modern facilities will fuel the business dynamics.
 

The COVID- 19 outbreak has significantly affected the Saudi Arabia water heater market owing to reduced operations and a decline in product deployment. However, with decreasing number of infected cases, the industry is expected to recover its strength with continuous product developments along with the increasing shift toward modern heating appliances among end-users. Additionally, growing focus to reduce carbon footprints coupled with rising adoption of sustainable technologies will drive the industry demand.
 

Growing demand for highly efficient water heaters along with the increasing utilization of cost-effective heating solutions

Storage segment in the Saudi Arabia water heater market is estimated to register significant growth during the forecast period due to increasing requirements for energy-saving solutions across residential & commercial establishments in line with the rising inclination toward smart water storage facilities. Cost-effectiveness, high energy savings, easy installation, minimum flow rate supply, and uninterrupted hot water facility in case of power outages are features, which will complement the product demand. Furthermore, increasing applications across large and multi-building apartments along with continuous technological advancements in terms of remote-control features and smart technologies will propel the business scenario.
 

Browse key industry insights spread across 100 pages with 59 market data tables & 30 figures & charts from the report, “Saudi Arabia 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, Application Potential, Competitive Market Share, and Forecast, 2022 - 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/saudi-arabia-water-heater-market
 

Rising usage of reliable & efficient heating systems in line with a growing expansion of green building infrastructures

30 - 100 liters segment in the Saudi Arabia water heater market is poised to witness substantial growth during the forecast timeframe. This growth is attributed to the extensive adoption of accurate & quick hot water supply systems by end-users. Stringent government norms and substantial programs for the development of green infrastructure coupled with ongoing replacements of traditional heating systems will accelerate the market growth.  Moreover, favorable research & development activities toward high capacity and effective designs for heating systems in line with continuous product innovations will thrust the business demand.
 

Shifting trends toward energy-saving heating solutions along with the rising demand for on-demand hot water supply across the residential applications

The Saudi Arabia water heater market for residential application is projected to showcase a substantial gains on account of surging demand for low-emission water heating units along with robust investments toward smart city construction projects. Rapid deployment of enhanced efficiency products across single and multi-family apartments will sway the product trend. Additionally, the significant introduction of smart & engineered technological solution for water heating coupled with introduction of incentives on installation of efficient heating devices will augment the industry landscape.
 

Rising disposable incomes coupled with rapid expansion in the service sector

LPG segment is anticipated to reach USD 65 million by 2030. Ongoing construction activities pertaining to an increase in legislative spending along with an increasing focus toward the adoption of energy-efficient devices will boost the Saudi Arabia water heater market demand. On-demand and uninterrupted water supply along with low-carbon emissions and high energy savings are some of the parameters, which will positively affect the demand for these products. In addition, a shifting focus to fulfill energy standards in line with the extensive applicability of these units across residential and small commercial establishments will foster the market progression.
 

Strategic partnerships and collaborations among leading players

Leading participants across the Saudi Arabia water heater market include A. O. Smith, Bradford White Corporation, Orbital Horizon, Saudi Ceramics Company, Rheem Manufacturing Company, Jaquar KSA, and State Water Heaters amongst others. These leaders are focusing on mergers and acquisitions along with continuous product developments, which will enhance the industry scenario.