The global water heater market size is calculated at USD 32.12 billion in 2025 and is forecasted to reach around USD 48.68 billion by 2034, accelerating at a CAGR of 4.73% from 2025 to 2034. The Asia Pacific water heater market size surpassed USD 11.43 billion in 2024 and is expanding at a CAGR of 4.74% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Water Heater Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Water Heater Market, by Product
8.1.1. Electric
8.1.1.1. Market Revenue and Forecast
8.1.2. Solar
8.1.2.1. Market Revenue and Forecast
8.1.3. Gas
8.1.3.1. Market Revenue and Forecast
9.1. Water Heater Market, by Technology
9.1.1. Tankless
9.1.1.1. Market Revenue and Forecast
9.1.2. Storage
9.1.2.1. Market Revenue and Forecast
9.1.3. Hybrid
9.1.3.1. Market Revenue and Forecast
10.1. Water Heater Market, by Capacity
10.1.1. Below 30 Liters
10.1.1.1. Market Revenue and Forecast
10.1.2. 30 - 100 Liters
10.1.2.1. Market Revenue and Forecast
10.1.3. 100 - 250 Liters
10.1.3.1. Market Revenue and Forecast
10.1.4. 250 - 400 Liters
10.1.4.1. Market Revenue and Forecast
10.1.5. Above 400 Liters
10.1.5.1. Market Revenue and Forecast
11.1. Water Heater Market, by Application
11.1.1. Residential
11.1.1.1. Market Revenue and Forecast
11.1.2. Commercial
11.1.2.1. Market Revenue and Forecast
11.1.3. Industrial
11.1.3.1. Market Revenue and Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product
12.1.2. Market Revenue and Forecast, by Technology
12.1.3. Market Revenue and Forecast, by Capacity
12.1.4. Market Revenue and Forecast, by Application
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product
12.1.5.2. Market Revenue and Forecast, by Technology
12.1.5.3. Market Revenue and Forecast, by Capacity
12.1.5.4. Market Revenue and Forecast, by Application
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product
12.1.6.2. Market Revenue and Forecast, by Technology
12.1.6.3. Market Revenue and Forecast, by Capacity
12.1.6.4. Market Revenue and Forecast, by Application
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product
12.2.2. Market Revenue and Forecast, by Technology
12.2.3. Market Revenue and Forecast, by Capacity
12.2.4. Market Revenue and Forecast, by Application
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product
12.2.5.2. Market Revenue and Forecast, by Technology
12.2.5.3. Market Revenue and Forecast, by Capacity
12.2.5.4. Market Revenue and Forecast, by Application
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product
12.2.6.2. Market Revenue and Forecast, by Technology
12.2.6.3. Market Revenue and Forecast, by Capacity
12.2.6.4. Market Revenue and Forecast, by Application
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product
12.2.7.2. Market Revenue and Forecast, by Technology
12.2.7.3. Market Revenue and Forecast, by Capacity
12.2.7.4. Market Revenue and Forecast, by Application
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product
12.2.8.2. Market Revenue and Forecast, by Technology
12.2.8.3. Market Revenue and Forecast, by Capacity
12.2.8.4. Market Revenue and Forecast, by Application
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product
12.3.2. Market Revenue and Forecast, by Technology
12.3.3. Market Revenue and Forecast, by Capacity
12.3.4. Market Revenue and Forecast, by Application
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product
12.3.5.2. Market Revenue and Forecast, by Technology
12.3.5.3. Market Revenue and Forecast, by Capacity
12.3.5.4. Market Revenue and Forecast, by Application
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product
12.3.6.2. Market Revenue and Forecast, by Technology
12.3.6.3. Market Revenue and Forecast, by Capacity
12.3.6.4. Market Revenue and Forecast, by Application
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product
12.3.7.2. Market Revenue and Forecast, by Technology
12.3.7.3. Market Revenue and Forecast, by Capacity
12.3.7.4. Market Revenue and Forecast, by Application
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product
12.3.8.2. Market Revenue and Forecast, by Technology
12.3.8.3. Market Revenue and Forecast, by Capacity
12.3.8.4. Market Revenue and Forecast, by Application
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product
12.4.2. Market Revenue and Forecast, by Technology
12.4.3. Market Revenue and Forecast, by Capacity
12.4.4. Market Revenue and Forecast, by Application
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product
12.4.5.2. Market Revenue and Forecast, by Technology
12.4.5.3. Market Revenue and Forecast, by Capacity
12.4.5.4. Market Revenue and Forecast, by Application
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product
12.4.6.2. Market Revenue and Forecast, by Technology
12.4.6.3. Market Revenue and Forecast, by Capacity
12.4.6.4. Market Revenue and Forecast, by Application
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product
12.4.7.2. Market Revenue and Forecast, by Technology
12.4.7.3. Market Revenue and Forecast, by Capacity
12.4.7.4. Market Revenue and Forecast, by Application
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product
12.4.8.2. Market Revenue and Forecast, by Technology
12.4.8.3. Market Revenue and Forecast, by Capacity
12.4.8.4. Market Revenue and Forecast, by Application
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product
12.5.2. Market Revenue and Forecast, by Technology
12.5.3. Market Revenue and Forecast, by Capacity
12.5.4. Market Revenue and Forecast, by Application
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product
12.5.5.2. Market Revenue and Forecast, by Technology
12.5.5.3. Market Revenue and Forecast, by Capacity
12.5.5.4. Market Revenue and Forecast, by Application
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product
12.5.6.2. Market Revenue and Forecast, by Technology
12.5.6.3. Market Revenue and Forecast, by Capacity
12.5.6.4. Market Revenue and Forecast, by Application
13.1. A.O. Smith
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Robert Bosch LLC
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Ariston Thermo SpA
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Rheem Manufacturing Company
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Rinnai Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Bradford White Corporation
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. NORITZ Corporation
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Whirlpool Corporation
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Westinghouse Electric Corporation
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Bajaj Electricals Ltd.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
15.1. About Us
15.2. Glossary of Terms
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