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Increasing adoption of instant heating technologies on account of the key advantages offered, including limited standby losses and high supply output, in comparison with conventional storage units, will help the market to grow in future, as per The Business Research Company’s water heaters market opportunities and strategies report.

The water heaters market is expected to grow from $29.47 billion in 2021 to $46.95 billion in 2026 at a rate of 9.8%. The market is then expected to grow at a CAGR of 7.5% from 2026 and reach $67.51 billion in 2031.

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Major players in the water heaters market include A. O. Smith Corporation, Rinnai Corporation, Vaillant Group, Ariston Thermo Group, Rheem Manufacturing Company.

The emergence of smart water heaters is a growing trend in the global water heater market. Water heaters consume a high level of energy in households, hence the emergence of smart water heaters, such as the Aquanta Smart Water Heater Controller, provides added benefits to preserve energy and increase the efficiency of the water heater. Integrated cell phone communication with users and hot water usage schedule, benefits the customer to regulate water heater through cell phones. This integrated smart system is designed to report energy consumption and other usage data.

The Global Water Heaters Market Is Segmented:
By Product Type – Solar Heaters, Electric Heaters, Gas And Propane Heaters, Geothermal Heaters

By End-User – Residential, Commercial, Industrial

By Distribution Channel – Supermarket/Hypermarket, Specialty Stores, E-Commerce, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global water heaters market.

TBRC’s Water Heaters Market Report Covers:

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Water Heaters Market Report 2022 – Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides thorough water heaters market research, analyzes and forecasts water heaters market size, water heaters market share, water heaters market players, water heaters market trends, water heaters market segmentation and geographies, leading competitor revenues, profiles and market shares.

TBRC’s water heaters market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

The water heaters market consists of sales of water heaters. A water heater is a device used for heating water above its ambient temperature, used generally for domestic purposes. Uses of hot water include cooking, cleaning, bathing, and space heating.

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