Europe Residential Water Heater Market Size
Europe Residential Water Heater Market was valued at USD 3.92 billion in 2023 and is anticipated to grow at a CAGR of 5.7% from 2024 to 2032. A water heater is a device that heats water for various domestic and commercial uses, such as bathing, cooking, cleaning, and space heating. There are several types of water heaters, each utilizing different technologies and energy sources to provide hot water.
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Rising awareness among consumers about the benefits of energy-efficient and renewable energy-based water heaters is set to augment the industry growth. Educational campaigns and information dissemination by governments and environmental organizations have played a significant role in product adoption. Manufacturers are expanding their product lines to include a variety of water heating solutions that cater to different needs and preferences, from compact units for small households to large systems for bigger homes, which will propel the product demand.
Europe Residential Water Heater Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| Europe Residential Water Heater Market Size in 2023 |
USD 3.92 Billion |
| Forecast Period |
2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR |
5.7% |
| 2032 Value Projection |
USD 6.41 Billion |
| Historical Data for |
2019 - 2022 |
| No. of Pages |
100 |
| Tables, Charts & Figures |
20 |
| Segments covered |
Product, Capacity, Fuel and Country |
| Growth Drivers |
- Rising demand for energy efficient water heating systems
- Technological advancements coupled with rising emission standards
|
| Pitfalls & Challenges |
|
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Growing demand for low carbon and zero emission water heating solutions coupled with rising focus toward environmental sustainability will lead to a higher adoption rate of systems that reduce carbon footprints. Further, Various European countries offer incentives and subsidies to encourage the adoption of energy-efficient and renewable energy-based water heating systems, which support offset the initial costs and make the technologies more accessible, thereby driving the business landscape.
Europe Residential Water Heater Market Trends
European Union's directives, such as the Ecodesign Directive and the Energy Labelling Directive, have been pivotal in driving the adoption of energy-efficient water heaters. These regulations set minimum energy performance standards and mandate clear labeling to inform consumers about the energy efficiency of products. Rising integration of Internet of Things (IoT) technology in water heaters providing usage data, and integrate with home automation systems, offering greater convenience and energy savings will boost the product penetration.
Europe Residential Water Heater Market Analysis
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Based on Product, the instant water heater market is likely to exceed USD 2.21 billion by 2032 driven by their space efficiency, energy savings, convenience, and alignment with modern living trends. Higher adoption rates across the UK, Germany, and the Netherlands with high energy costs and smaller living spaces coupled with stringent efficient regulations will drive the product penetration. In addition, builders and developers are increasingly opting for instant water heaters due to their efficiency, space-saving design, and appeal to prospective tenants, thereby augmenting the industry landscape.
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Smaller water heaters, those under 30 liters in size, are expected to become increasingly popular over the next decade. That's because they're perfect for fitting into tight spaces, like under sinks or in small closets. These smaller units are often used to provide hot water right where it's needed, like in kitchens or bathrooms. And because they can heat water quickly, they're energy-efficient for specific tasks, like washing dishes or taking a shower. They also use less energy when they're not in use, which helps save money on your utility bills. All of these factors are making smaller water heaters a more attractive option for homeowners.
Based on fuel, the LPG water heater market is set to grow more than USD 837 million by 2032 owing to their efficiency, cost-effectiveness, and suitability for areas with limited access to natural gas or electricity. Growing adoption in remote and rural areas as well as in countries with strong off-grid communities like Spain and Italy will contribute to the business momentum. Moreover, for temporary housing, vacation homes, and mobile homes, LPG water heaters are a practical choice due to their portability and ease of installation, which will complement the industry landscape.
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Imagine your home's water heater getting a major upgrade! The UK market for these essential appliances is set to boom, hitting a whopping $896 million by 2032. Why the surge? Well, homeowners in sunny areas are jumping on the solar energy bandwagon, and many are opting for water heaters that harness this renewable power. Plus, government programs and a push for energy efficiency are making these heaters even more attractive. Companies aren't sitting idle either. They're constantly coming up with better water heaters that are more efficient, easier to use, and come in all shapes and sizes. So, whether you have a cozy flat or a spacious house, there's a water heater out there to keep your showers hot and your energy bills low.
Europe Residential Water Heater Market Share
Companies are forming strategic alliances to expand their market reach. Firms are also collaborating to enter new geographic markets, especially in regions with growing demand for residential water heating solutions. Collaborations with regulatory bodies help ensure that new products meet local, national, and international regulations. Furthermore, partnerships with consumer groups and feedback platforms help manufacturers understand user needs and preferences, leading to the development of products that better meet the market demands.
Europe Residential Water Heater Market Companies
Eminent players operating in the Europe residential water heater industry are
- A.O. Smith Water Products Company B.V
- Ariston Holding N.V.
- Bosch Industriekessel GmbH 2024
- Bradford White Corporation, USA
- Ferroli S.p.A
- Haier Inc.
- Lennox International Inc.
- NORITZ Corporation
- Rheem Manufacturing Company
- Rinnai Corporation
- STIEBEL ELTRON GmbH & Co. KG
- Westinghouse Electric Corporation
- Vaillant Group International GmbH
Europe Residential Water Heater Industry News
- In December 2023, Bradford white released the Brute volume water heaters in six sizes. These systems range from 399 to 1500 MBH, equipped with a thermal efficiency of 96%. It will further support the company provide high performing and long lasting products suiting the customer requirement.
- In September 2023, Ferroli introduced its Kona gas water heater in the UK. It’s Eco credentials and efficiency levels, comes with sealed chamber, modulating thermal power along with electronic combustion control. Equipped with low NOx emission, the products will support the company enhance its product landscape.
This Europe residential 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
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Market, By Product
Market, By Capacity
- < 30 Liter
- 30 - 100 Liter
- 100 – 250 Liter
- 250 – 400 Liter
- > 400 Liter
Market, By Fuel
The above information has been provided for the following countries
- UK
- France
- Germany
- Italy
- Austria
- Spain
- Netherland
- Denmark
- Finland
- Sweden
- Norway
