Water Heater Market 2020 | Industry Key Strategies, Technology, Application, Trends and Opportunities Forecasts to 2026
Category: #energy-and-environment  By Rahul Sankrityayan  Date: 2020-02-10
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Water Heater Market 2020 | Industry Key Strategies, Technology, Application, Trends and Opportunities Forecasts to 2026

The Water Heater Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

The size of Water Heater Market was registered at USD 22 billion in the year 2019 and is anticipated to cross USD 29 billion by 2026. Between the period 2020 - 2026, the Water Heater is expected to register a CAGR of 4.5%.Majorly fostered by the rising adoption of energy efficient components in the residential & commercial space, the global water heater market, crossing a valuation of over USD 25 billion in 2017, has emerged as a lucrative growth ground of the overall energy industry. The advent of renewables, IoT, and other smart environmentally responsible technologies, have further impacted the water heating industry for good in terms of new designs, shapes, energy efficiency standards, and more control over the equipment. Aided by these technological advancements, these products have undergone many changes in the recent years, which in turn have prominently impacted the market valuation.

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Speaking along similar lines, it is prudent to mention that the Asian countries are spearheading the developments in overall water heater market. Accounting for a majority of the regional share, China, India, Malaysia, Thailand, and the Philippines, are rapidly expanding in renewables and solar water heaters, given the phenomenal economic boom in the recent years. These high-power Asian markets are further set to draw the attention of the global water heater industry players to invest in the region as they will not want to lag behind in the race.

The Middle East water heater industry is another prominent region witnessing strong growth and is tendering lucrative returns on investment. The abundance of sunlight & other renewable sources, urbanization trends, and the growing emphasis on producing green energy have positioned this region as the ideal hub for investors to cater to the growing demand for water heaters. Recently for instance, an Italian manufacturer of heating systems, Ariston Thermo, has opened its first manufacturing facility in Bahrain, Middle East. The reports claim that the new facility will have an annual production capacity of more than 250,000 electric water heaters and will be majorly catering to the MEA market. The instance significantly validates the growing popularity of the belt as a valuable investment ground for leading water heater industry companies.


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The MEA region as a whole is serving as a strong regional contender for this business sphere, on account of its effective geographical positioning and abundance of natural resources. The regional government, with its supportive energy efficiency and environmental policies, has also been playing a vital role in the expansion of the regional water heater market. The growing regulatory norms and favorable schemes for the record have improved the product adoption trend. For instance, Cyprus, a country in Middle East, has been estimated by the International Energy Agency to have more than 90% of the overall households equipped with solar water heaters.

As more and more geographies are realizing that they should not pursue economic growth at the expense of the environment, the overall growth of water heater market seems to be quite bright in the years ahead. With widespread promotion of renewable energy and companies introducing advanced heating systems that do not use fossil fuels, the remuneration portfolio of global water heater market is certain to traverse along a profitable roadmap in the ensuing years.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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