Brazil Water Heater Market Size & Outlook, 2023-2030
Brazil water heater market, 2018-2030 (US$M)
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Brazil water heater market highlights
- The Brazil water heater market generated a revenue of USD 890.8 million in 2023 and is expected to reach USD 1,210.6 million by 2030.
- The Brazil market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, electric 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 890.8 million |
| Market revenue in 2030 | USD 1,210.6 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Electric |
| 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, Brazil accounted for 3.0% 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 Latin America, Brazil water heater market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 593.3 million by 2030.
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Water Heater Market Scope
Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil 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 67.85% in 2023. Horizon Databook has segmented the Brazil water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2018 to 2030.
The rising number of COVID-19 cases and the government’s unwillingness to impose lockdown are becoming major hindrances to the economic revival of Brazil. As of May 17, 2021, 67,009 new cases were confirmed as the country struggled with the vaccine rollout program.
The post-pandemic period is expected to be crucial for Brazil as the government plans to increase its solar power capacity in the coming years. According to ABSOLAR, a Brazil-based solar power association, Brazil's installed solar power generation capacity grew by 64%, reaching 7.5 GW in 2020.
As the government is focusing on limiting the subsidies related to new solar installations and wind farms, power utility companies are expected to earn profit by investing around USD 2.3 billion in new solar projects, as per ABSOLAR. This is expected to accelerate the demand for solar water heaters as Brazil focuses on renewable energy sources.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil water heater market , including forecasts for subscribers. This country databook contains high-level insights into Brazil water heater market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil water heater market size, by product, 2018-2030 (US$M)
Brazil Water Heater Market Outlook Share, 2023 & 2030 (US$M)
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