October 24, 2024
Boston: “According to the latest BCC Research study on “Water Heater: Global Markets” is estimated to reach $32.1 billion by 2029, at a compound annual growth rate (CAGR) of 5.2% from 2024 through 2029.”
The global water heater market is driven by the growing demand for hot water in residential and commercial settings, including homes, hospitals, hotels, restaurants, and laundries. Water heaters, which convert energy from sources like electricity, gas, or solar power into thermal energy, are used for bathing, cleaning, laundry, and cooking. This report provides a comprehensive analysis of the water heater market, using 2023 as the base year and offering projections through 2029. It covers market revenue in terms of product type, storage capacity, energy source, and applications, along with regional analysis across North America, Europe, Asia-Pacific, and the Rest of the World. Key market trends, challenges, ESG developments, patents, emerging technologies, and competitive dynamics are examined, with profiles of leading companies in the industry.
This report is highly relevant to industry stakeholders today due to the rapidly evolving water heater sector, driven by increasing demand for energy-efficient solutions and growing urbanization worldwide. With governments implementing stricter regulations on energy consumption and emissions, the market is experiencing a significant shift towards more sustainable and innovative technologies. Understanding these trends is crucial for businesses to stay competitive and compliant, making this report an essential resource for navigating current challenges and opportunities in the global water heater market.
The following factors drive the global market for water heaters:
Growing Demand for Energy-Efficient Water Heaters: As sustainability and energy costs gain attention, both consumers and businesses are shifting towards energy-efficient water heaters. These systems reduce electricity or gas usage, lowering utility costs and environmental impact. Technologies like heat pumps and solar water heaters are particularly popular for their significant energy savings. Government incentives and regulations further boost the adoption of these appliances.
Rapid Urbanization and Migration of People Towards Cities: Urbanization is accelerating worldwide, with more people moving to cities for better opportunities. This trend drives the construction of new residential and commercial spaces, increasing demand for water heating solutions. Urban areas, with modern infrastructure, are well-equipped to adopt efficient water heating systems, fueling market growth.
Request a sample copy of the global market for water heaters reports.
Report Synopsis
|
Report Metrics |
Details |
|
Base year considered |
2023 |
|
Forecast Period considered |
2024-2029 |
|
Base year market size |
$23.7 billion |
|
Market size forecast |
$32.1 billion |
|
Growth rate |
CAGR of 5.2% for the forecast period of 2024-2029 |
|
Segment Covered |
Product Type, Storage Capacity, Energy Source, Applications |
|
Regions covered |
North America, Europe, Asia-Pacific, Rest of the World |
|
Countries covered |
U.S., Canada, Mexico, U.K., Germany, France, Rest of Europe (Spain, Italy, Russia, and other countries), China, Japan, India, South Korea, Rest of Asia-Pacific (Australia, Indonesia, and other countries), South America, Middle East, Africa |
|
Key Market Drivers |
|
Key Interesting Facts about the global market for water heaters:
The global market for water heaters includes in-depth data and analysis addressing the following important queries:
1. What is the projected market size and growth rate of the global water heaters market?
2. What are the key factors driving the growth of the global water heaters market?
3. By application, which segment will dominate the market by the end of 2029?
4. Which region has the highest market share in the global water heaters market?
Some of the Key Market Players Are:
Browse More Related Reports
Heating, Ventilation, and Air Conditioning: Global Markets: This report provides an in-depth analysis of the HVAC market, segmented by product type (heating, ventilation, and cooling equipment), installation type, and application, with regional development across North America, Europe, Asia-Pacific, and Rest of the World (RoW). It includes insights into leading companies' business footprints, product offerings, and revenue, as well as a patent analysis for the HVAC industry. Additionally, the study explores ESG factors, emerging technologies, and the competitive landscape, while assessing the impact of the Russia-Ukraine war on global and regional markets. The analysis uses 2022 as the base year, with market estimates for 2023 and projections through 2028, including compound annual growth rates (CAGRs) from 2023 to 2028, with all values in millions of dollars.
Water Filtration: Global Markets: This report provides an analysis of the global water filtration market, segmented by filter type (depth filters and surface filters), technology (membrane-based and non-membrane-based), and application (water purification and desalination systems). The market is further broken down into four regions: North America, Europe, Asia-Pacific, and the Rest of the World. The scope of the report focuses solely on market values measured at the manufacturer level for water filtration membranes and non-membrane filters, excluding revenues from services, equipment, or systems. The base year for the study is 2023, with market estimates and forecasts from 2024 to 2029, provided in millions of U.S. dollars.
Directly purchase a copy of the report with BCC Research.
For further information or to make a purchase, please get in touch with info@bccresearch.com.
Water Heater: Global Markets( MFG091A )
Publish Date: Oct 2024
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.