Germany Water Heater Market Size & Outlook, 2023-2030
Germany water heater market, 2018-2030 (US$M)
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Germany water heater market highlights
- The Germany water heater market generated a revenue of USD 1,602.2 million in 2023 and is expected to reach USD 2,055.6 million by 2030.
- The Germany market is expected to grow at a CAGR of 3.6% 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 1,602.2 million |
| Market revenue in 2030 | USD 2,055.6 million |
| Growth rate | 3.6% (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, Germany accounted for 5.5% 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 Europe, Germany water heater market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 1,435.1 million by 2030.
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Water Heater Market Scope
Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 49.38% in 2023. Horizon Databook has segmented the Germany water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for water heaters, especially in commercial and industrial applications, is likely to rise as the country is returning to normal. According to the Federal Ministry for Economic Affairs and Energy, around two-thirds of the buildings in the country need renovation to meet the energy efficiency targets set for a sustainable energy system.
Under the CO2 building renovation program, newly sanctioned construction projects for buildings with high energy efficiency increased significantly from 44,000 in 2019 to 93,000 in 2020. To meet the energy efficiency targets, the government is encouraging the use of energy-efficient water heaters, thereby, augmenting the market growth.
The use of fossil fuel energy for space and water heating is excessive in Germany. According to the Federal Environment Agency, around 9.4% of the country’s total CO2 emissions were attributed to keeping 83 million people's homes warm with a hot water supply in 2018.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany water heater market , including forecasts for subscribers. This country databook contains high-level insights into Germany water heater market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany water heater market size, by product, 2018-2030 (US$M)
Germany Water Heater Market Outlook Share, 2023 & 2030 (US$M)
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