Water Heater Market, by Product Type (Solar Heaters, Electric Heaters, Gas & Propane Heaters and Geothermal Heaters), by Storage Type (Storage Heater (tank type), Tankless Heater and Hybrids (Heat Pump) Heater), by End Use (Residential and Commercial) and

Water Heater Market, by Product Type (Solar Heaters, Electric Heaters, Gas & Propane Heaters and Geothermal Heaters), by Storage Type (Storage Heater (tank type), Tankless Heater and Hybrids (Heat Pump) Heater), by End Use (Residential and Commercial) and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Market Dynamics
A water heater or storage water heater is a domestic water heating appliance that uses hot water storage tank to optimize heating capacity provide prompt hot water whenever needed. Different type of fuel is used for water heating including natural gas, fuel gas, electricity, and solar energy. The solar water heater is one of the fastest growing segment in the global water heater market. Consumers are increasingly shifting towards renewable energy, owing to growing awareness regarding benefits of renewable energy, cost-efficiency, and better results. Solar heaters are widely installed in residential as well as commercial building, in order to reduce electricity bills. Moreover, governments of various countries offer low interest loans and subsidies for solar heater installation, which in turn, is expected to increase adoption of solar water heaters in the near future.
Increasing development of construction industry in emerging economies such as India and China is expected to boost the demand for water heaters during the forecast period. Furthermore, longer product life, easy reimbursement and replacement, and efficient aftermarket service are expected to drive the global water heater market growth during the forecast period.
Market Taxonomy
This report segments the global Water Heater Market on the basis of product type, storage type, end use and region. On the basis of product type, the market is segmented into solar heaters, electric heaters, Gas and Propane Heaters, and geothermal heaters. On the basis of storage type, the market is segmented into storage heater (tank type), tankless heater, and hybrid (heat pump) heaters. On the basis of end use, the market is segmented into residential and commercial. For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Each of these regions is analyzed on the basis of market findings across major countries in these regions, for a macro-level understanding of the market.

Key features of the study:
This report provides an in-depth analysis of the global Water Heater Market with market size (Thousand Units & US$ Million) and CAGR (%) over the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
It profiles leading players in the global Water Heater Market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
Key companies covered as part of this study include A. O. Smith Corporation, Zhongshan Inse Group Co, Ltd., Haier Electronics Group Co., Ltd., Himin Solar Co., Ltd., Ariston Thermo Group, Genrui, Bajaj Electricals Ltd., Rheem Manufacturing Company, Jiaxing Jinyi Solar Energy Technology Co, Ltd., Noritz Corporation, SIEMENS AG, Bradford White Corp., and Venus Home Appliances (P) Ltd. among others.
Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to future product launches, technology upgrades, market expansion, and marketing tactics
Various strategy matrices used in analyzing the global Water Heater Market would provide stakeholders vital inputs to make strategic decisions accordingly

Detailed Segmentation:
Global Water Heater Market, By Product Type:
Direct TPMS
Indirect TPMS
Global Water Heater Market, By Vehicle Type:
Passenger Car
LCV
HCV
Global Water Heater Market, By Sales Channel:
OEM
Aftermarket
Global Water Heater Market, By Region:
North America
By Country
U.S.
Canada
By Segmentation
By Product Type:
Direct TPMS
Indirect TPMS
By Vehicle Type:
Passenger Car
LCV
HCV
By Sales Channel:
OEM
Aftermarket
Europe
By Country
Germany
Italy
U.K.
France
Spain
Russia
Rest of Europe
By Product Type:
Direct TPMS
Indirect TPMS
By Vehicle Type:
Passenger Car
LCV
HCV
By Sales Channel:
OEM
Aftermarket

Asia Pacific
By Country
China
Japan
Australia
India
ASEAN
South Korea
Rest of Asia Pacific
By Segmentation
By Product Type:
Direct TPMS
Indirect TPMS
By Vehicle Type:
Passenger Car
LCV
HCV
By Sales Channel:
OEM
Aftermarket
Latin America
By Country
Brazil
Mexico
Argentina
Rest of Latin America
By Segmentation
By Product Type:
Direct TPMS
Indirect TPMS
By Vehicle Type:
Passenger Car
LCV
HCV
By Sales Channel:
OEM
Aftermarket
Middle East and Africa
By Country
GCC Countries
Israel
South Africa
Rest of Middle East and Africa
By Segmentation
By Product Type:
Direct TPMS
Indirect TPMS
By Vehicle Type:
Passenger Car
LCV
HCV
By Sales Channel:
OEM
Aftermarket
Company Profiles
A. O. Smith Corporation
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Zhongshan Inse Group Co, Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Haier Electronics Group Co., Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Himin Solar Co., Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Ariston Thermo Group
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Genrui
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Bajaj Electricals Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Rheem Manufacturing Company
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Jiaxing Jinyi Solar Energy Technology Co, Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Noritz Corporation
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
SIEMENS AG
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Bradford White Corp.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Venus Home Appliances (P) Ltd.
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
*Browse all the market data tables and figures on “Global Water Heater Market - forecast to 2027”.