Global Residential Water Heaters Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Residential Water Heaters Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Residential water heaters primarily provide hot water for direct use (e.g., in showers and faucets) and for appliances such as dishwashers and clothes washers. There are several types of residential water heaters described below. The most common water heaters in single-family homes are storage tank type water heaters or tankless water heaters.

Storage water heaters use gas (natural gas or propane), electricity or oil to heat and store water at a thermostatically controlled temperature (less than 180⁰ F) for delivery on demand. Federal appliance efficiency standards differentiate storage water heaters based on whether the rated storage volume is greater than 55 gallons or less than or equal to 55 gallons.

Tankless heat water using natural gas, electricity, or propane. These units do not have a tank for storing heated water but instead use a sensor that detects the flow of water over the heat exchanger that initiates the heating element (typical volumes around 0.5 gallons). Instantaneous units are capable of delivering water at a controlled temperature of less than 180⁰F.

According to our (Global Info Research) latest study, the global Residential Water Heaters market size was valued at US$ 1037 million in 2023 and is forecast to a readjusted size of USD 1376 million by 2030 with a CAGR of 4.2% during review period.

In Latin America market, key players of Residential Water Heaters include AO Smith, Rinnai, Midea, Rheem, Calorex (Ariston Thermo), etc. Top five players hold a share approximately 45%. In terms of product, the Storage Tank Type holds a share of over 50%. And in terms of application, the largest application is Gas Water Heater, with a share of over 50%.

This report is a detailed and comprehensive analysis for global Residential Water Heaters market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided.

Key Features:

Global Residential Water Heaters market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2019-2030

Global Residential Water Heaters market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2019-2030

Global Residential Water Heaters market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2019-2030

Global Residential Water Heaters market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2019-2024

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Residential Water Heaters

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Residential Water Heaters market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include AO Smith, Rinnai, Midea, Rheem, Calorex (Ariston Thermo), Whirlpool, Stiebel Eltron, Noritz, Zhejiang Jiadele Technology Co, Bosch, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Residential Water Heaters market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Storage Tank Type
Tankless Type

Market segment by Application
Gas Water Heater
Electric Water Heater
Others

Major players covered
AO Smith
Rinnai
Midea
Rheem
Calorex (Ariston Thermo)
Whirlpool
Stiebel Eltron
Noritz
Zhejiang Jiadele Technology Co
Bosch
GREE
Bradford White
EcoSmart
Vanward
Haier

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Residential Water Heaters product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Residential Water Heaters, with price, sales quantity, revenue, and global market share of Residential Water Heaters from 2019 to 2024.

Chapter 3, the Residential Water Heaters competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Residential Water Heaters breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2019 to 2024.and Residential Water Heaters market forecast, by regions, by Type, and by Application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Residential Water Heaters.

Chapter 14 and 15, to describe Residential Water Heaters sales channel, distributors, customers, research findings and conclusion.