Australia Water Heater Market Size & Outlook, 2023-2030
Australia water heater market, 2018-2030 (US$M)
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Australia water heater market highlights
- The Australia water heater market generated a revenue of USD 765.1 million in 2023 and is expected to reach USD 1,051.8 million by 2030.
- The Australia market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, gas was the largest revenue generating product in 2023.
- Solar is the most lucrative product segment registering the fastest growth during the forecast period.
Water heater market data book summary
| Market revenue in 2023 | USD 765.1 million |
| Market revenue in 2030 | USD 1,051.8 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Gas |
| Fastest growing segment | Solar |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric, Solar, Gas |
| Key market players worldwide | A.O. Smith Corp, Robert Bosch Engineering & Business Solutions, Rinnai Corp, Noritz Corp, Whirlpool Corp, WESCO International Inc, Haier, Lennox International Inc |
Other key industry trends
- In terms of revenue, Australia accounted for 2.6% of the global water heater market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China water heater market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,661.8 million by 2030.
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Water Heater Market Scope
Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia 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.
Gas was the largest segment with a revenue share of 45.59% in 2023. Horizon Databook has segmented the Australia water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2018 to 2030.
Australia is showing signs of recovery with rising commodity prices and low interest rates, the demand for heating equipment is expected to increase, in turn, benefitting the water heaters market over the forecast period.
The Solar PV market in Australia is thriving owing to the collaboration of Chinese solar panel manufacturers and Australian expertise. According to Clean Energy Regulator, Australia, the uptake of rooftop solar PV increased from 2.32 million in 2018 to 2.68 million in 2019, thereby, augmenting the adoption of solar water heaters in the country.
According to E3 (Equipment Energy Efficiency), a joint initiative of the Australian, State & Territory, and New Zealand Governments, the policy framework surrounding hot water systems in Australia and New Zealand needs to be revamped.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia water heater market , including forecasts for subscribers. This country databook contains high-level insights into Australia water heater market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia water heater market size, by product, 2018-2030 (US$M)
Australia Water Heater Market Outlook Share, 2023 & 2030 (US$M)
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