Tuesday, 02 January 2024 12:17 GMT

Water Heater Market Competitive Landscape Report 2025: Key Company Analysis, Profiles, Strategic Developments, Mergers, Product Innovations, Revenue Insights, And Forecasts To 2033


(MENAFN- GlobeNewsWire - Nasdaq) The global water heater market, valued at USD 32.3 billion in 2025, is projected to grow to USD 48.16 billion by 2033, with a CAGR of 5.12%. This expansion is fueled by increased demand for energy-efficient solutions, urbanization, and rising construction activities. Key players like A.O. Smith, Rinnai, Whirlpool, Bajaj, and Haier offer diverse solutions, from electric to solar heaters. The industry's evolution is marked by advancements in energy-efficient technologies, government incentives, and burgeoning global construction. Sustainability remains a focus, with companies innovating in eco-friendly and smart heating solutions to meet modern demands.

Dublin, Feb. 24, 2026 (GLOBE NEWSWIRE) -- The "Water Heater Market Company Analysis, Company Profiles, Strategic Developments, Mergers, Product Innovations, Revenue Insights, and Future Forecasts" report has been added to ResearchAndMarkets's offering.
Based on estimations, the global water heater market was valued at around USD 32.3 billion in 2025 and is expected to reach approximately USD 48.16 billion by 2033, growing at a CAGR of 5.12% between 2025 and 2033

This can be attributed to various important factors such as greater demand for energy-efficient heating systems, rapid urbanization, and increased residential and commercial construction activities.

The concept of a water heater market typically represents the worldwide industry involved in manufacturing and selling various types of equipment used in heating water for residential, commercial, and industrial applications. Different systems have been used, ranging from electric, gas, solar, tankless, and heat pump to storage water heaters. Technologies involved include those designed for heating hot water for daily activities such as bathing, cleaning, cooking, and industrial functions.
The water heater market has grown significantly over the years with increased urbanization, improvement in lifestyles, and demands for energy-efficient appliances. It has gained popularity globally because hot water is viewed to be essential in modern households and other commercial facilities such as hotels, hospitals, and restaurants.

Growing awareness of sustainability has increased the adoption of smart and energy-saving models, including solar-powered and tankless water heaters. Other factors that keep the industry running include technological advancement, government incentives on energy efficiency, and growing construction activities. With expanding populations and increased modernization, the water heater market remains one of the vital, ever-evolving global sectors.
Top Manufacturers

  • A.O. Smith
  • Rinnai Corporation
  • Whirlpool Corporation
  • Bajaj Electricals Ltd
  • Haier Inc.

Key Attributes:

Report Attribute Details
No. of Pages 200
Forecast Period 2025 - 2033
Estimated Market Value (USD) in 2025 $32.3 Billion
Forecasted Market Value (USD) by 2033 $48.16 Billion
Compound Annual Growth Rate 5.1%
Regions Covered Global


Key Topics Covered:
1. Water Heater Market
1.1 Historical Trends
1.2 Forecast Analysis
2. Companies Share - Water Heater Market
3. A.O. Smith
3.1 Overview
3.1.1 Company History and Mission
3.1.2 Business Model and Operations
3.1.3 Workforce
3.2 Key Persons
3.2.1 Executive Leadership
3.2.2 Operational Management
3.2.3 Division Leaders
3.2.4 Board Composition
3.3 Recent Development & Strategies
3.3.1 Mergers & Acquisitions
3.3.2 Partnerships
3.3.3 Investments
3.4 Sustainability Analysis
3.4.1 Renewable Energy Adoption
3.4.2 Energy-Efficient Infrastructure
3.4.3 Use of Sustainable Packaging Materials
3.4.4 Water Usage and Conservation Strategies
3.4.5 Waste Management and Circular Economy Initiatives
3.5 Product Analysis
3.5.1 Product Profile
3.5.2 Quality Standards
3.5.3 Product Pipeline
3.5.4 Product Benchmarking
3.6 Strategic Assessment: SWOT Analysis
3.6.1 Strengths
3.6.2 Weaknesses
3.6.3 Opportunities
3.6.4 Threats
3.7 Revenue Analysis

Above Information Will Be Provided for All the Following Companies

  • Rinnai Corporation
  • Whirlpool Corporation
  • Bajaj Electricals Ltd
  • Haier Inc.
  • Havells India Ltd
  • Lennox International Inc.
  • Kenmore
  • Thermex Corporation
  • Electrolux AB
  • Panasonic Corporation
  • Rheem Manufacturing Company
  • Vaillant Group
  • Bosch Thermotechnology
  • Glen Dimplex Group
  • Midea Group
  • Arcelik A.S.
  • Ferroli S.p.A.
  • Stiebel Eltron GmbH & Co. KG
  • Sanden Corporation

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Attachment

  • Water Heater Market
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