United Kingdom (UK) Water Heater Market Overview, 2028

United Kingdom (UK) Water Heater Market Overview, 2028

In the United Kingdom, where the weather is notoriously unpredictable, every family must have a consistent source of hot water. Water heaters have become a vital part of daily lives, and the UK water heater market has grown and innovated significantly over the years. The water heater market in the United Kingdom is a dynamic and competitive business, fueled by factors such as increased energy efficiency concerns, technology improvements, and shifting consumer tastes. The market includes a variety of water heaters, such as tankless, storage, and heat pump water heaters, to meet the varying needs of consumers. Energy-efficient water heaters have gained major popularity in the UK market as environmental concerns grow. Because of their lower energy usage and fewer greenhouse gas emissions, tankless water heaters and heat pump water heaters are becoming increasingly popular. The Internet of Things (IoT) has accelerated the development of smart water heaters. These appliances may be remotely controlled via smartphone apps, allowing users to alter temperature settings and monitor energy consumption, resulting in increased convenience and cost savings. Hybrid water heaters are gaining popularity because they mix traditional heating methods with heat pump technology. They are well-known for their high energy efficiency, making them an enticing alternative for environmentally conscious consumers. As energy prices continue to rise, consumers are looking for more energy-efficient water heaters to help them save money. Tankless and heat pump water heaters have grown in popularity due to their potential to reduce operating expenses. The urbanization trend, as well as the creation of smaller living spaces such as apartments and townhouses, has created a demand for compact and space-saving water heaters. Tankless and wall-mounted water heaters are popular in these applications, propelling market expansion.

According to the research report ""United Kingdom Water Heater Market Overview, 2028,"" published by Bonafide Research, the United Kingdom Water Heater market projected to reach market size of more than USD 1 Billion by 2028. The UK's commitment to renewable energy sources, such as solar panels and heat pumps, is promoting the incorporation of this technology into water heaters. This not only saves money on electricity but also aligns with the government's green energy policies. As older water heaters reach the end of their useful lives, consumers look for more modern and energy-efficient replacements. This replacement demand drives the water heater market, notably among homeowners and property managers. Water heaters are in high demand in commercial establishments such as hotels, restaurants, and healthcare institutions, in addition to residential homes. The demand for dependable and energy-efficient water heating systems in business settings drives market expansion. Water heaters are frequently intended to be compact and space-saving because of the relatively smaller living spaces in many UK homes. Wall-mounted and under-sink water heaters are popular options because they allow homeowners to make the best use of limited space. Immersion heaters are widely used in the United Kingdom to heat water in storage tanks. These electric heaters use a heating element that is immersed in water to provide a cost-effective and dependable method of heating water.

In terms of product type market is divided into electric, solar and gas. Solar type is expected to grow at the fastest rate in United Kingdom water heater market. As part of its commitment to lowering greenhouse gas emissions, the United Kingdom has set challenging goals for renewable energy. Solar water heaters support these objectives by using the sun's clean, renewable energy to warm water, making them a desirable option for customers who care about the environment. The UK government provides a number of incentive schemes and financial aids to encourage the use of renewable energy technologies, such as solar water heaters. These incentives lower the initial expenses and encourage private individuals and commercial establishments to purchase solar thermal systems. By 2050, the UK wants to have net-zero emissions of greenhouse gases. By lowering reliance on fossil fuels for water heating, which is a substantial energy-consuming activity in homes and companies, solar water heaters help achieve these aims. The technology of the market includes, tankless, storage and hybrid. Hybrid technology is growing at significant rate in United Kingdom. High energy efficiency is a well-known feature of hybrid water heaters. To capture heat from the surrounding air and utilize it to heat water, they integrate heat pump technology with conventional heating elements. The UK's cost-conscious consumers will find this particularly enticing because it greatly cuts energy consumption and utility costs. The size of hybrid water heaters is frequently smaller than that of conventional storage water heaters. The compact design of hybrid heaters is advantageous in a nation where space might be scarce, particularly in metropolitan areas. Many hybrid water heaters come with cutting-edge technological capabilities that let users monitor and operate their hot water systems from a distance. Consumers who are digitally savvy find this degree of control and convenience intriguing.

Based on capacity market is bifurcated into below 30 litres, 30-100 litres, 100-250 litres, 250-400 litres, above 400 litres. In the UK, the typical household size has grown in recent years. As a result, there is a higher need for water heaters that have more capacity. Energy has become more expensive recently. This has increased customer interest in energy-efficient water heaters. Incentives are provided by the UK government to householders that install energy-efficient water heaters. The cost of buying and installing a new water heater may decrease as a result of these incentives. Based on application market is divided into residential and commercial. The rise of commercial businesses, including hotels, restaurants, office buildings, and manufacturing facilities, is a result of the UK's ongoing economic prosperity. The requirement for commercial-grade water heaters to supply these enterprises with hot water increases as they expand. For the comfort of their guests, the hospitality sector, which includes hotels and resorts, primarily relies on hot water. The need for commercial water heaters has been fuelled by the expansion of tourism and the building of new hospitality facilities. Large amounts of hot water are needed in commercial kitchens, restaurants, and cafés for cleaning, dishwashing, and cooking. The UK's burgeoning food service industry has boosted demand for commercial water heating systems.

Considered in this report:
• Geography: United Kingdom
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• United Kingdom Water Heater market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• Electric
• Solar
• Gas

By Technology:
• Tankless
• Storage
• Hybrid

By Capacity:
• Below 30 Litres
• 30-100 Litres
• 100-250 Litres
• 250-400 Litres
• Above 400 Litres

By Application:
• Residential
• Commercial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Water Heater industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.