Asia Pacific Water Heater Market Size - By Product (Instant, Storage), By Application (Residential [Shower, Dishwashing, Washing Machine], Commercial), By Capacity (<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), & Forecast, 2023

Asia Pacific Water Heater Market Size - By Product (Instant, Storage), By Application (Residential [Shower, Dishwashing, Washing Machine], Commercial), By Capacity (<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), & Forecast, 2023 - 2032

Asia Pacific Water Heater Market size is estimated to expand at 6% CAGR from 2023-2032 driven by the growing shift towards energy-efficient water heating technologies in the region.

With a strong focus on sustainability and resource conservation, water heaters are integrated with heat recovery systems to capture and reuse waste heat for improving the overall energy efficiency. The growing efforts placed by regional water heater manufacturers on innovations to offer improved designs, user-friendly interfaces, and innovative features for customer satisfaction will also contribute to the market growth. For instance, in December 2022, A. O. Smith launched Elegance Prime, its latest BEE five-star-rated water heater in India to render enhanced hot water output and saving on energy costs.

The APAC water heater industry is segmented into product, capacity, application, and region.

Based on capacity, the market share from the 100 - 250 liters segment gained notable traction in 2022 and is estimated to foresee notable expansion through 2032. This can be attributed to rising adoption of 100 - 250 liters water heaters to cater to commercial and industrial applications. With higher awareness of energy efficiency and the surging environmental concerns, the regional consumers are upgrading to newer models of water heaters with larger capacities to efficiently meet the hot water demands. Increasing deployment in businesses, hotels, and industries for various purposes, such as cleaning, cooking, and industrial processes will contribute to the segment growth.

In terms of application, the Asia Pacific water heater market from the commercial segment is anticipated to attain substantial growth between 2023 and 2032 owing to the surging need to provide consistent and reliable supply of hot water. Multiple commercial buildings in the region are employing water heaters for space heating systems to deliver warmth in various zones or rooms. The growing requirement for hot water for space heating and maintaining specific temperatures in manufacturing environments in industrial processes will also complement the segment expansion.

Regionally, the Australia water heater industry size is expected to exhibit robust CAGR from 2023-2032 due to the rising number of government regulations and changes in energy efficiency standards. With the surging emphasis on sustainable and green building practices, the water heater industry in the country is witnessing increased interest in eco-friendly solutions to match the green building certifications and standards. The growing emphasis on energy efficiency is another major trend driving the regional market growth.