Global Water Heater Market Size & Outlook, 2023-2030
Global water heater market, 2018-2030 (US$M)
Related Markets
Global water heater market highlights
- The global water heater market generated a revenue of USD 29,257.2 million in 2023 and is expected to reach USD 40,086.8 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.6% by 2030.
- In terms of segment, electric accounted for a revenue of USD 14,954.3 million in 2023.
- Solar is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 29,257.2 million |
| Market revenue in 2030 | USD 40,086.8 million |
| Growth rate | 4.6% (CAGR from 2023 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Solar |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric, Solar, Gas |
Other key industry trends
- In terms of revenue, the North America accounted for 21.1% of the global water heater market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Saudi Arabia is the fastest growing regional market and is projected to reach USD 713.5 million by 2030.
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Water Heater Market Scope
Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global water heater market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to water heater market will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 51.11% in 2023. Horizon Databook has segmented the Global water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Water Heater Product Outlook (Revenue, USD Million, 2018-2030)
- Electric
- Solar
- Gas
- Global Water Heater Technology Outlook (Revenue, USD Million, 2018-2030)
- Tankless
- Storage Tank
- Hybrid
- Global Water Heater Application Outlook (Revenue, USD Million, 2018-2030)
- Residential
- Commercial
- Industrial
- Global Water Heater Capacity Outlook (Revenue, USD Million, 2018-2030)
- Below 30 Liters
- 30 - 100 Liters
- 100 - 250 Liters
- 250 - 400 Liters
- Above 400 Liters
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Target buyers of Global water heater market databook
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Our clientele includes a mix of water heater market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global water heater market , including forecasts for subscribers. This global databook contains high-level insights into Global water heater market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global water heater market size, by regions, 2018-2030 (US$M)
Top 10 countries: Water heater market size, 2023 (US$M)
Global water heater market share, by product, 2023 & 2030 (%, US$M)
Water heater market: Opportunity assessment by country
Global water heater market, by region, 2023 (US$M)
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