Saudi Arabia Water Heater Market Size - By Product (Instant, Storage, Gas), By Application (Residential, Commercial [College/University, Offices, Government/Military, Others]), By Fuel (Natural Gas, LPG), Capacity & Forecast, 2024 – 2032

Saudi Arabia Water Heater Market Size - By Product (Instant, Storage, Gas), By Application (Residential, Commercial [College/University, Offices, Government/Military, Others]), By Fuel (Natural Gas, LPG), Capacity & Forecast, 2024 – 2032

Saudi Arabia Water Heater Market Size

Saudi Arabia Water Heater Market was valued at more than USD 542.7 million in 2023 and projected to exhibit 5% CAGR from 2024 to 2032. Surging requirement for savings in electricity bills in line with rising inclination to address the hot water supply demand will foster the business trends.

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Implementation of stringent efficiency standards along with rise of advanced technologies will encourage the development and adoption of energy-efficient water heaters. For instance, in September 2022, Rheem Manufacturing Company launched the Rheem Professional Prestige Smart electric water heater featuring a demand response and LeakGuard. The water heater offers advanced electric solutions complying with new energy regulations and seamless connection to the electric grid.
 

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COVID- 19 Impact

The COVID- 19 pandemic impacted the overall demand for the HVAC equipment owing to lockdown restrictions, supply chain disruptions and low labor availability. Ongoing product development coupled with increasing shift toward modern heating appliances among the end-users is set to augment the product adoption. In addition, increasing focus to reduce carbon footprint coupled with rising adoption of sustainable technologies will boost the industry dynamics.

Saudi Arabia Water Heater Market Trends

Upgradation by various homeowners for their older, less efficient water heaters with new, and more energy-efficient models to save on operating costs and reduce their carbon footprint will drive the industry outlook. Shifting focus toward sustainable buildings and continuous infrastructural developments will fuel the business trend. Rapid expansion in the service sector coupled with rising disposable incomes will sway the industry dynamics.

Robust investments toward smart city construction projects along with surging demand for low-emission water heating units will propel the business outlook. Ongoing incentives on installation of efficient heating devices coupled with significant launch of smart & engineered technological solutions for water heating will augment the product demand.

Saudi Arabia Water Heater Market Analysis

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Based on product, the instant water heater market revenue to cross USD 137.5 million by 2032 owing to their energy-saving benefits and space efficiency coupled with consumer’s preference for efficient systems for their homes. Key features comprising the ability to adjust settings to optimal efficiency along with enhanced energy savings will complement the product penetration in the industry. Moreover, continuous replacement & refurbishment of traditional heating systems in line with the increasing adoption of space heating units across residential & commercial establishments will foster the industry growth.

30-100 liters market across the Saudi Arabia held a market share of over 47.9% in 2022. Shifting consumer trends for the deployment of these units to fulfill the strict energy norms along with favorable research & development activities toward high capacity and effective designs for heating systems will boost the business potential. Furthermore, growing focus toward the expansion of energy-saving technologies and substantial programs for the development of green infrastructure will stimulate the Saudi Arabia water heater market outlook.

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Based on application, the commercial water heater market is set to account for USD 42.5 million by 2032. Shifting consumer focus toward the setting up of on-demand water supply across various commercial institutions including government buildings, institutes, restaurants, and other facilities coupled with ongoing replacements of traditional heating systems will foster the business dynamics. In addition, positive outlook toward clean technologies in line with growing efforts toward the installation of high-performance systems will sway the industry trends.

Based on fuel, the LPG market will dominate the market share on the account of on-demand and uninterrupted water supply along with low-carbon emissions and high energy savings. Cost-effectiveness, reliability, continuous supply, and high efficiency are some of the major features positively affecting the product adoption. Furthermore, extensive applicability of these units across residential and small commercial establishments along with favorable government policies on green energy alternatives will complement the business landscape.

Saudi Arabia water heater market is projected to expand at a CAGR of over 4.9% up to 2032 owing to stringent government norms and policies for the adoption of renewable units coupled with shifting consumer focus toward energy conservation. Growing utilization across residential applications in line with considerable improvement in the living standards will enhance the product demand. Moreover, introduction of technologically advanced modern heating technologies will further boost the industry dynamics.

Saudi Arabia Water Heater Market Share

Eminent players operating in the Saudi Arabia water heater industry include

• A.O. Smith
• Bradford White Corporation
• Robert Bosch Middle East FZE
• Rheem Manufacturing Company
• State Water Heaters
• Saudi Ceramics Company
• Ariston Holding N.V.
• Jaquar KSA
• Ecotherm Austria GmbH
• Viessmann Group, Orbital Horizon
• Reem Water heater company
• GE Appliances
• Watts
• Richmond Water Heaters

Saudi Arabia Water Heater Industry News

• In October 2022, Bradford White Corporation announced its new Infiniti GS and GR tankless water heaters. Both the versions feature several venting options, optional commercial rack mounts, and stainless-steel heat exchangers. introduction of the efficient & reliable models enabled to meet the demands of both commercial & residential applications to accommodate several installations will strengthen the company’s portfolio across the water heater industry.
• In January 2022, GE Appliances launched RealMAX, its first comprehensive atmospheric gas water heater series including atmospheric gas, electric, tankless, and point of use water heaters in different capacities. These technologically advanced products offer a capacity of 113 to 190 liters easy installation, feature an LED indicator, and are durable & applicable for residential & light commercial uses. The launch of the advanced products strengthened the company’s portfolio and footprint across the industry.

This Saudi Arabia water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘ ‘000 Units & USD Million ’ from 2023 to 2032 for the following segments

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By Product

• Instant
  • Electric
  • Gas
• Storage
  • Electric
    • < 30 Liters
    • 30 - 100 Liters
    • 100 - 250 Liters
    • 250 - 400 Liters
    • > 400 Liters
  • Gas
    • < 30 Liters
    • 30 - 100 Liters
    • 100 - 250 Liters
    • 250 - 400 Liters
    • > 400 Liters

By Capacity

• < 30 Liters
• 30 - 100 Liters
• 100 - 250 Liters
• 250 - 400 Liters
• > 400 Liters

By Application

• Residential
• Commercial
  • College/university
  • Offices
  • Government/military
  • Others

By Fuel

• Natural gas
• LPG