Asia Pacific Water Heater Market Size
A water heater is an appliance designed to heat water for various uses, including domestic, commercial, and industrial purposes. The heated water is typically used for activities such as bathing, cooking, cleaning, and space heating. It is an essential appliance that provides hot water for a variety of uses in homes, businesses, and industries.
To get key market trends
Download Free Sample
Growing popularity of smart water heaters with features like remote control, energy monitoring, and predictive maintenance will enhance the industry demand. Wi-Fi-enabled water heaters that allow users to control and monitor their heaters via smartphone apps will stimulate the industry dynamics. Increased adoption of tankless water heaters that provide hot water on demand, offering space and energy savings. Moreover, rapid urbanization in emerging markets will lead to increased demand for modern water heating solutions.
Asia Pacific Water Heater Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| Asia Pacific Water Heater Market Size in 2023 |
USD 11.25 Billion |
| Forecast Period |
2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR |
6.6% |
| 2032 Value Projection |
USD 19.67 Billion |
| Historical Data for |
2021 - 2023 |
| No. of Pages |
400 |
| Tables, Charts & Figures |
100 |
| Segments covered |
Product, Capacity, Application and Country |
| Growth Drivers |
- Government mandates pertaining to greenhouse gas emissions
- Increasing demand for water heating systems
- Rapid urbanization & advancing product customization
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Download Free Sample
Growing demand for energy-efficient water heaters, driven by rising energy costs and increased awareness of environmental issues will positively impact the industry statistics. Governments are implementing regulations and offering incentives to promote the use of energy-efficient appliances which will complement the product penetration. Additionally, Water heaters integrated with smart grids to optimize energy usage and reduced costs will boost the industry statistics.
Asia Pacific Water Heater Market Trends
Increase in disposable income and living standards, driving the demand for home appliances, including water heaters will stimulate the industry trend. China, India, Japan, South Korea, and Australia are some of the key markets with high growth rates in water heater adoption. Additionally, rapid urbanization leads to the construction of new residential buildings and commercial establishments, which will boost the business scenario. Major urban centers such as Beijing, Mumbai, Tokyo, and Sydney see higher adoption rates due to increased infrastructure development, which will enhance the industry growth.
Asia Pacific Water Heater Market Analysis
Learn more about the key segments shaping this market
Download Free Sample
The market for heating systems comes in two main typesthose that heat water instantly and those that store it. Instant heating systems are projected to see significant growth in the coming years, with the market expected to increase by over $5.81 billion by 2032. One reason for this growth is that instant heating systems are becoming increasingly affordable in the long run. They consume less energy and have a longer lifespan compared to traditional heaters. These systems also don't need a water storage tank, meaning they use less energy to heat cold water in the winter. They're also popular in multi-family apartments because they provide a constant supply of hot water and can heat water quickly. Finally, instant heating systems are more energy-efficient than older models because they only heat water when it's needed, which reduces wasted energy.
Learn more about the key segments shaping this market
Download Free Sample
Imagine looking for a water heater for your home. You'll find a wide range to choose from based on how much water you need to heat. The most popular size in Asia and the Pacific region is between 100 and 250 liters. This size is predicted to keep growing in demand, over 6.5% by 2032. Governments are pushing for stricter rules on how buildings handle water heating and energy efficiency. This is boosting the use of 100-250 liter water heaters. Plus, more and more schools, offices, and government buildings are needing these water heaters, which is also driving growth. People are also getting more interested in water heaters that are more advanced and easier to use. New models come with Wi-Fi, monitoring software, and even voice activation. These features make them more convenient and efficient than ever before.
Based on application, the Asia Pacific Water Heater market is segmented into residential and commercial. Introduction of advanced heating technologies coupled with accelerating consumer spending owing to better living standards & rising disposable incomes has stimulated the demand across the residential establishments. Growing requirement of hot water across households for varying domestic applications including cooking, cleaning, bathing & personal hygiene along with the considerable cost savings with the use of energy efficient models will drive the industry growth.
Looking for region specific data?
Download Free Sample
China Water Heater Market is set to grow more than USD 10.56 billion by 2032 driven by economic growth, urbanization, technological advancements, and supportive government policies. Cultural practices and preferences influence the type of water heaters adopted. Innovations in water heater technology, such as smart features, improved energy efficiency, and enhanced safety, drive consumer interest which will positively impact the industry growth. In addition, Subsidies, rebates, and regulations promoting energy efficiency and renewable energy sources boost the adoption of certain types of water heaters will stimulate the industry statistics.
In the U.S. companies are focusing on product innovation, strategic partnerships, and expanding distribution networks to capture market share, driving the market growth. Colder areas with distinct winter seasons have higher adoption rates of water heaters, contributing to the business scenario. Further, areas with access to natural gas, offering a cost-effective and energy-efficient solution.
Asia Pacific Water Heater Market Share
Industry collaborations in the water heater industry across the Asia-Pacific region have been instrumental in driving innovation, expanding market reach, and improving product offerings. Development and marketing of tankless water heaters, ongoing expansion into emerging markets in Southeast Asia and development of energy-efficient water heating solutions will drive the business scenario. Further, integration of renewable energy sources with water heating systems along with research on advanced water heating technologies and smart systems is set to augment the business landscape.
Asia Pacific Water Heater Market Companies
Eminent players operating in the Asia Pacific Water Heater industry are
- AQUAMAX AUSTRALIA PTY.
- A. O. Smith
- Ariston Holding N.V.
- Bajaj Electricals Ltd
- Bosch Industriekessel GmbH
- Bradford White Corporation
- FERROLI p.A
- GE Appliances
- Haier Inc
- Havells India Ltd.
- Hubbell Heaters
- Jaquar India
- LINUO RITTER INTERNATIONAL CO. LTD.
- Racold
- Rheem Manufacturing Company
- Rinnai Corporation
- State Industries
- STIEBEL ELTRON GmbH & Co. KG (DE)
- Viessmann Climate Solutions SE
- Vaillant
Asia Pacific Water Heater Industry News
- In June 2023, Rheem Manufacturing Company unveiled Triton Super and Light Duty water heaters. These commercial units feature up to 98% thermal efficiency and eliminate downtime by detecting & preventing water heater problems. The product also offers robust, flexible, and smarter solutions that are ideal for both construction & replacement applications. The innovation will thus fuel the company’s market presence.
- In September 2022, Midea introduced its energy-efficient VD series of water heaters in India. The range was built with advanced technology and its features include a square-shaped compact design that complements bathroom/kitchen décor & easily fits into an existing space. With this launch, the company penetrated the Indian market and created a strong base in the market.
Asia Pacific Water Heater market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Million & ‘000 Units” from 2021 to 2032, for the following segments
Click here to Buy Section of this Report
Market, By Product, 2021 – 2032 (USD Million & ‘000 Units)
Market, By Capacity, 2021 – 2032 (USD Million & ‘000 Units)
- < 30 liters
- 30 – 100 liters
- 100 – 250 liters
- 250 – 400 liters
- >400 liters
Market, By Application, 2021 – 2032 (USD Million & ‘000 Units)
- Residential
- Shower
- Dishwashing
- Washing Machine
- Others
- Commercial
The above information has been provided for the following countries
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Malaysia
- Singapore
- Thailand
- New Zealand
- Philippines
- Vietnam
