UAE Water Heater Market Size & Outlook, 2023-2030
UAE water heater market, 2018-2030 (US$M)
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UAE water heater market highlights
- The UAE water heater market generated a revenue of USD 387.3 million in 2023 and is expected to reach USD 501.1 million by 2030.
- The UAE market is expected to grow at a CAGR of 3.7% 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 387.3 million |
| Market revenue in 2030 | USD 501.1 million |
| Growth rate | 3.7% (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, UAE accounted for 1.3% 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 Middle East & Africa, Saudi Arabia water heater market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 501.1 million by 2030.
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Water Heater Market Scope
Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UAE 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 60.65% in 2023. Horizon Databook has segmented the UAE water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2018 to 2030.
According to the Ministry of Economy, UAE, the overall GDP of the country contracted by 6.1% in 2020. Major factors that led to the economic slowdown are reduced oil output, low oil prices, decreased global oil demand, and disruption in global supply chains.
Favorable government measures such as the government stimulus of USD 76.7 billion are likely to attract new investments, as FDIs increased by 44.2% in 2020 to reach USD 19.88 billion, according to the government. As FDIs increase especially in real estate, investor confidence will rise which is likely to benefit the water heater market in the UAE.
Under the country’s Estidama Green Building Code, new buildings must use solar power for at least 75% of water heating requirements. This has boosted the solar water heater market growth. Moreover, the UAE has relaxed its long-term visa and citizenship rules, which is expected to create demand for residential housing, thereby, boosting the demand for water heaters.
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Target buyers of UAE 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UAE water heater market , including forecasts for subscribers. This country databook contains high-level insights into UAE water heater market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE water heater market size, by product, 2018-2030 (US$M)
UAE Water Heater Market Outlook Share, 2023 & 2030 (US$M)
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