The global water heater market size was valued at USD 17,772 million in 2018 and expected to grow at a CAGR of 5.7% during the forecast period. A water heater is an apparatus used for heating and usually storing the water for domestic and commercial application. Generally, a water heater has a water source unit, a heating device & power source, and a water supply system. The heating device consists of heating coils with which heat is exchanged from coil to water. Factors augmenting the water heater device market is increasing the disposable income of the people along with improving the standard of living.

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Government subsidiaries regarding the energy efficient water heater for the domestic and industrial purpose are also augmenting the market. Increasing commercialization globally especially in emerging economies is also one of the major factors for increasing market. Commercial places such as hotels, hospitals, Spa have a huge application of water heater. Significant commercialization has been observed globally. As per WHO, about 54% population were living in the urban area in 2014 which was only 34% in 1960. The percentage is expected to further go up in upcoming years. It is expected that the global urban population will grow with 1.84% per year from 2015 to 2020 and 1.63% per year from 2020 to 2025.

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Water Heater Market Segmentation

By Energy Source

Gas

Electricity

Hybrid

Solar



By Mode of Water Supply

On-Demand or Tank-Less Water Heater

Storage or Tank Water Heater



By End-User

Residential

Commercial

Industrial



Competitive Landscape

Key Strategy Analysis

Key Company Analysis



Regional Analysis

North American

United States

Canada

Europe

UK

Germany

Italy

Spain

France

RoE

Asia-Pacific

India

China

Japan

Rest of Asia-Pacific

Rest of the World



Company Profiles

A. O. Smith Corp.

Ariston Thermo SpA

Atc Electrical and Mechanical Ltd.

Bajaj Electricals Ltd.

Bandini Scaldabagni S.P.A.

Bradford White Corp.

Crompton Greaves Ltd.

General Electric Company

Haier Electronics Group Co., Ltd.

Himin Solar Group Co., Ltd

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