100+ datasets found
  1. Residential water heater market share in the United States 2018-2021, by...

    • statista.com
    Updated Aug 3, 2023
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    Statista (2023). Residential water heater market share in the United States 2018-2021, by company [Dataset]. https://www.statista.com/statistics/700257/us-residential-water-heater-market-share/
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    Dataset updated
    Aug 3, 2023
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    This residential water heater market in the United States is dominated by three major players in AO Smith, Rheem, and Bradford White. In 2021, AO Smith and Rheem together accounted for more than 70 percent of residential water heater shipments in the United States.

  2. North America Residential Water Heater Market - Size, Share & Industry...

    • mordorintelligence.com
    pdf,excel,csv,ppt
    Updated Jun 15, 2022
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    Mordor Intelligence (2022). North America Residential Water Heater Market - Size, Share & Industry Analysis [Dataset]. https://www.mordorintelligence.com/industry-reports/north-america-residential-water-heaters-market
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    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Jun 15, 2022
    Dataset authored and provided by
    Mordor Intelligence
    License

    https://www.mordorintelligence.com/privacy-policyhttps://www.mordorintelligence.com/privacy-policy

    Time period covered
    2020 - 2030
    Area covered
    North America
    Description

    The North America Residential Water Heater Market report segments the industry into By Product Type (Storage Water Heaters, Non-Storage Water Heaters, Hybrid Water Heaters), By Energy Source (Electric, Gas, Solar, Others), By Capacity (Small Water Heater, Medium Water Heater, Large Water Heater), By Distribution Channel (Multi-Branded Stores, Exclusive Stores, and more), and By Geography (United States, Canada, and more).

  3. U.S. Water Heater Market Size, Share, & Trends Analysis Report By Product...

    • arizton.com
    pdf,excel,csv,ppt
    Updated Feb 29, 2024
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    Arizton Advisory & Intelligence (2024). U.S. Water Heater Market Size, Share, & Trends Analysis Report By Product (Gas and Oil, Electric, Heat Pumps, and Solar), By Category, By End-User, By Distribution Channel, By Region - Competitive Analysis, Historic Data [Dataset]. https://www.arizton.com
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    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Feb 29, 2024
    Dataset authored and provided by
    Arizton Advisory & Intelligence
    License

    https://www.arizton.com/privacyandpolicyhttps://www.arizton.com/privacyandpolicy

    Time period covered
    2024 - 2029
    Area covered
    North America
    Description

    The U.S. water heater market was valued at USD 3.45 billion in 2023 and is expected to reach USD 5.08 billion by 2029, growing at a CAGR of 6.67%.

  4. Water Heater Manufacturing in the US - Market Research Report (2015-2030)

    • ibisworld.com
    Updated Apr 18, 2025
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    IBISWorld (2025). Water Heater Manufacturing in the US - Market Research Report (2015-2030) [Dataset]. https://www.ibisworld.com/united-states/market-research-reports/water-heater-manufacturing-industry/
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    Dataset updated
    Apr 18, 2025
    Dataset authored and provided by
    IBISWorld
    License

    https://www.ibisworld.com/about/termsofuse/https://www.ibisworld.com/about/termsofuse/

    Time period covered
    2015 - 2030
    Area covered
    United States
    Description

    The Water Heater Manufacturing industry is relatively small in terms of participation. Most of these companies have at least some manufacturing capacity outside the United States. The industry is heavily affected by these few companies' off- and on-shoring decisions. Low interest rates early in the period boosted home improvement investments and surged housing starts, greatly benefiting the industry. Water Heater Manufacturing industry revenue has been expanding at a CAGR of 1.6% over the past five years and is expected to total $3.1 billion in 2024 when revenue will jump by an estimated 0.2%. The majority of water heaters are purchased for residential customers. Rising per capita disposable income enables homeowners to better afford home improvements. Hot water is considered necessary and heaters require replacement once every 10 years; water heaters are a largely non-discretionary expense. Industry profit has also increased over the past five years with greater demand from residential and commercial markets. The industry will continue growing over the next five years. A steady increase in residential construction activity and strong recovery in nonresidential construction will boost demand for new water heaters. Still, the small footprint of the industry and the large average size of its facilities give it the potential for large unexpected swings related to factory openings or relocations. This will be particularly true as the United States moves toward greater trade protectionism and manufacturers strive to locate their operations around tariff barriers. Water Heater Manufacturing industry revenue is expected to expand at a CAGR of 1.3% to $3.3 billion over the five years to 2029.

  5. Commercial water heater market share in the United States 2017-2020, by...

    • statista.com
    Updated Aug 3, 2023
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    Statista (2023). Commercial water heater market share in the United States 2017-2020, by company [Dataset]. https://www.statista.com/statistics/700299/us-commercial-gas-water-heater-market-share/
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    Dataset updated
    Aug 3, 2023
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    The commercial water heater market in the United States has been quite stable over the years in terms of market share. AO Smith has taken up around 50 percent of the market, with Rheem and Bradford White as the second and third leading companies. Rheem accounted for a quarter of the market share in 2020, while Bradford White was responsible for 16 percent of commercial water heater shipments in the same year.

  6. Tankless Smart Water Heater Market Research Report 2033

    • growthmarketreports.com
    csv, pdf, pptx
    Updated Jun 30, 2025
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    Growth Market Reports (2025). Tankless Smart Water Heater Market Research Report 2033 [Dataset]. https://growthmarketreports.com/report/tankless-smart-water-heater-market-north-america-industry-analysis
    Explore at:
    pptx, csv, pdfAvailable download formats
    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Growth Market Reports
    Time period covered
    2024 - 2032
    Area covered
    Global
    Description

    Tankless Smart Water Heater Market Outlook



    According to our latest research, the global tankless smart water heater market size in 2024 stands at USD 5.2 billion, reflecting robust demand driven by energy efficiency and smart home integration trends. The market has demonstrated a steady expansion, and as per our analysis, it is set to grow at a CAGR of 8.7% from 2025 to 2033. By the end of 2033, the tankless smart water heater market is expected to reach USD 11.1 billion. This remarkable growth is primarily attributed to the rising adoption of smart home technologies, increasing consumer awareness about energy conservation, and supportive government policies promoting efficient water heating solutions.




    One of the primary growth factors fueling the tankless smart water heater market is the increasing consumer focus on energy efficiency and sustainability. Traditional water heaters are known for their high energy consumption and standby heat loss, which has led consumers to seek alternatives that are both cost-effective and environmentally friendly. Tankless smart water heaters, by heating water only when needed, offer significant energy savings—often up to 30% more efficient compared to conventional tank-based systems. Additionally, the integration of smart features such as remote monitoring, scheduling, and real-time energy usage analytics further enhances their appeal to tech-savvy homeowners. These features not only provide convenience but also empower users to optimize their energy consumption, aligning with the broader global shift towards sustainable living.




    Another significant driver for the tankless smart water heater market is the rapid advancement in IoT and connectivity technologies. The proliferation of Wi-Fi and Bluetooth-enabled appliances has revolutionized the home automation landscape, with smart water heaters seamlessly fitting into this ecosystem. Consumers can now control and monitor their water heaters via smartphones or voice assistants, offering unmatched flexibility and control. This trend is especially prominent in urban areas where smart home adoption rates are high. Moreover, manufacturers are increasingly focusing on enhancing user experience by introducing advanced diagnostics, predictive maintenance, and integration with other smart home devices, further propelling market growth.




    Government initiatives and regulatory frameworks promoting energy efficiency are also playing a crucial role in the expansion of the tankless smart water heater market. Many countries have implemented stringent energy standards and incentive programs to encourage the adoption of energy-efficient appliances. Rebates, tax credits, and certification programs such as ENERGY STAR have made it financially attractive for both residential and commercial users to upgrade to smart tankless systems. Additionally, the growing emphasis on reducing carbon emissions and achieving sustainability targets has prompted businesses and institutions to invest in advanced water heating solutions, thereby boosting market demand across various application segments.




    From a regional perspective, Asia Pacific is emerging as the fastest-growing market for tankless smart water heaters, driven by rapid urbanization, rising disposable incomes, and increasing awareness about smart home technologies. North America and Europe continue to maintain significant market shares, owing to early adoption of smart home solutions and favorable regulatory environments. Meanwhile, Latin America and the Middle East & Africa are witnessing gradual adoption, supported by infrastructural development and growing consumer interest in energy-efficient appliances. The regional dynamics are expected to evolve further as manufacturers expand their distribution networks and tailor their offerings to meet local consumer preferences and regulatory requirements.





    Product Type Analysis



    The tankless smart water heater market is segmented by product type into electric, gas, and hybrid systems. Electric tankless smart water heaters dominate the market,

  7. Water Heater Market Study by Storage Water Heaters, Tankless Water Heaters,...

    • factmr.com
    csv, pdf
    Updated Feb 12, 2024
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    Fact.MR (2024). Water Heater Market Study by Storage Water Heaters, Tankless Water Heaters, and Hybrid Water Heaters from 2024 to 2024 [Dataset]. https://www.factmr.com/report/water-heater-market
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    csv, pdfAvailable download formats
    Dataset updated
    Feb 12, 2024
    Dataset provided by
    Fact.MR
    License

    https://www.factmr.com/privacy-policyhttps://www.factmr.com/privacy-policy

    Time period covered
    2024 - 2034
    Area covered
    Worldwide
    Description

    The global water heater market is estimated to be valued at US$ 36.1 billion in 2024 and is forecasted to reach US$ 92 billion by the end of 2034, expanding at a CAGR of 9.8% between 2024 and 2034.

    Report AttributesDetails
    Water Heater Market Size (2024E)US$ 36.1 Billion
    Forecasted Market Value (2034F)US$ 92 Billion
    Global Market Growth Rate (2024 to 2034)9.8% CAGR
    North America Market Growth Rate (2024 to 2034)10% CAGR
    East Asia Market Value (2024E)US$ 8 Billion
    Solar Water Heater Sales (2034F)US$ 9.8 Billion
    Key Companies Profiled
    • A.O. Smith
    • Bosch
    • Haier
    • American Water Heaters
    • Ariston
    • GE Appliances
    • Whirlpool Corporation
    • Rinnai Corporation

    Country-wise Insights

    AttributeUnited States
    Market Value (2024E)US$ 7.2 Billion
    Growth Rate (2024 to 2034)10% CAGR
    Projected Value (2034F)US$ 18.8 Billion
    AttributeChina
    Market Value (2024E)US$ 3.6 Billion
    Growth Rate (2024 to 2034)10.3% CAGR
    Projected Value (2034F)US$ 9.5 Billion

    Category-wise Insights

    AttributeElectric Water Heaters
    Market Value (2024E)US$ 25 Billion
    Growth Rate (2024 to 2034)9.9% CAGR
    Projected Value (2034F)US$ 64.5 Billion
    AttributeStorage Water Heaters
    Market Value (2024E)US$ 17.8 Billion
    Growth Rate (2024 to 2034)10% CAGR
    Projected Value (2034F)US$ 46.3 Billion
  8. Water Heater Market Analysis APAC, North America, Europe, South America,...

    • technavio.com
    Updated Aug 23, 2024
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    Technavio (2024). Water Heater Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, Germany, India - Size and Forecast 2024-2028 [Dataset]. https://www.technavio.com/report/water-heater-market-industry-analysis
    Explore at:
    Dataset updated
    Aug 23, 2024
    Dataset provided by
    TechNavio
    Authors
    Technavio
    Time period covered
    2021 - 2025
    Area covered
    Germany, United States, Global
    Description

    Snapshot img

    Water Heater Market Size 2024-2028

    The water heater market size is forecast to increase by USD 8.05 billion at a CAGR of 5.97% between 2023 and 2028. The market is experiencing significant growth, driven by several key trends and factors. One major trend is the increasing preference for tankless water heaters, which offer energy efficiency and continuous hot water supply. Another trend is the integration of water heaters into smart and connected kitchens, enabling remote control and monitoring capabilities. However, high installation and maintenance costs remain challenges for the market, particularly for larger commercial applications. Additionally, stringent regulations regarding energy efficiency and safety standards continue to shape the market landscape. Overall, the market is expected to grow steadily, driven by these trends and factors, as well as increasing demand for reliable and efficient hot water solutions.

    What will be the Size of the Market During the Forecast Period?

    To learn more about this report, View Report Sample

    Market Dynamics and Customer Landscape

    The market encompasses a range of innovative products and high-performance products, including electric product and solar water heating systems, tankless and storage water heater, and smart technology applications. These solutions are increasingly being adopted in residential establishments and smart city projects to reduce environmental impact and improve energy efficiency. Electric water and tankless water heaters are popular choices for their high energy savings and carbon footprint reduction. Solar products, such as solar water heating systems, further enhance the environmental benefits of these systems. In the context of residential applications, water heating systems play a crucial role in daily life, from cleaning and washing to cooking and patient hygiene. Hospitals also rely on water heating systems for essential services.

    Further, green projects and smart city initiatives are driving the demand for water heating solutions that minimize carbon emissions and offer high-performance and innovative features. Aging water heaters, on the other hand, are being replaced with more energy-efficient and eco-friendly alternatives. Storage tanks and cleaning systems are essential components of water heating systems, ensuring consistent water temperature and maintaining system hygiene. Overall, the market is poised for growth as the world transitions towards more sustainable and energy-efficient solutions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

    Key Market Driver

    The increasing demand for tankless water heaters is a key factor driving the growth of the market. In the market, there is a growing trend towards energy-efficient models, particularly in residential establishments and smart city projects. With aging water heaters leading to increased maintenance and utility costs, the shift toward electric water heaters is gaining momentum. These advanced heating solutions offer high energy savings, making them an attractive option for both residential and commercial consumers. The Department of Defense and military facilities, hotels, shopping complexes, and commercial buildings are all exploring environmentally friendly products to reduce their carbon footprint.

    However, tankless water heaters, which use heavy burners to quickly heat water through a heat exchanger, have been found to be 22% more energy-efficient than gas-powered storage water heaters. As consumer spending on heating technologies continues to rise, companies are differentiating their products by launching energy-efficient electric water heaters, providing instant hot water with lower utility costs and reduced environmental impact. Thus, the demand for energy-efficient models is expected to boost the growth of the market during the forecast period.

    Significant Market Trend

    Smart and connected kitchens are the primary trends in the market growth. The market is witnessing a significant trend towards the adoption of smart water heating solutions. In residential establishments and smart city projects, advanced water heaters equipped with monitoring systems are gaining popularity. These systems enable end-users to maintain their water heaters effectively, removing allergens, harmful particles, and contaminants that can cause wear and tear. The integration of smart technologies, such as smart thermostats and sensors, into electric water heaters and storage water heaters results in high energy savings and a reduced carbon footprint.

    Further, institutions like the Department of Defense and military facilities, as well as commercial buildings, hotels, shopping complexes, and other large establishments, are increasingly investing in environ

  9. Heat Pump Water Heater Market Analysis Europe, North America, APAC, Middle...

    • technavio.com
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    Technavio, Heat Pump Water Heater Market Analysis Europe, North America, APAC, Middle East and Africa, South America - US, China, France, Germany, UK - Size and Forecast 2024-2028 [Dataset]. https://www.technavio.com/report/heat-pump-water-heater-market-analysis
    Explore at:
    Dataset provided by
    TechNavio
    Authors
    Technavio
    License

    https://www.technavio.com/content/privacy-noticehttps://www.technavio.com/content/privacy-notice

    Time period covered
    2021 - 2025
    Area covered
    Global, United States
    Description

    Snapshot img

    Heat Pump Water Heater Market Size 2024-2028

    The heat pump water heater market size is forecast to increase by USD 11.58 billion at a CAGR of 29.08% between 2023 and 2028.

    The Heat Pump Water Heater (HPWH) market presents a significant growth opportunity for energy-conscious consumers and businesses seeking to reduce their carbon footprint and lower utility costs. HPWHs utilize renewable energy from the ambient air to heat water, making them an eco-friendly alternative to traditional electric or gas water heaters. Key drivers propelling market expansion include increasing energy efficiency regulations, growing awareness of energy conservation, and the declining cost of renewable energy technologies. However, the market is not without challenges. One of the primary obstacles is the lack of awareness and understanding of HPWH technology among potential customers. Additionally, the upfront cost of HPWHs can be higher than conventional water heaters, which may deter some buyers. To capitalize on market opportunities and navigate these challenges effectively, companies can focus on education and marketing efforts to raise awareness of HPWH benefits, as well as explore financing options or incentives to help offset the initial investment. By addressing these issues, HPWH manufacturers and distributors can tap into the growing demand for energy-efficient and cost-effective water heating solutions.

    What will be the Size of the Heat Pump Water Heater Market during the forecast period?

    Request Free SampleThe market is experiencing significant growth due to the increasing focus on energy efficiency in both the residential and commercial sectors. Air-source heat pumps, a type of heat pump water heater, are gaining popularity for their ability to provide energy-efficient solutions for residential energy consumption and commercial water heating. Geothermal heat pumps are also making strides in the market, offering renewable energy alternatives to traditional fossil fuel-based systems. Energy savings and environmental impact are key drivers for the adoption of heat pump water heaters. The global heating industry is embracing enhanced compressor technologies and heat exchanger designs to improve efficiency and reduce greenhouse gas emissions. Control systems are also becoming increasingly important, with smart technologies enabling better management of heating and cooling systems. Installation costs and climatic conditions are important factors influencing the market dynamics. Regulations, both environmental and energy efficiency, are also playing a significant role in the growth of the market. In the residential sector, energy efficiency standards are driving the demand for energy-efficient solutions, while in the commercial sector, environmental regulations are pushing companies to adopt greener alternatives to fossil fuel-based heating systems. The market is evolving, with a focus on innovation and sustainability. The integration of renewable energy sources and advanced control systems is expected to further boost the market's growth. Overall, the market is poised for continued expansion, offering opportunities for businesses in the HVAC equipment industry.

    How is this Heat Pump Water Heater Industry segmented?

    The heat pump water heater industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ApplicationResidentialCommercialTypeAir source heat pumpGeothermal heat pumpGeographyNorth AmericaUSEuropeFranceGermanyUKMiddle East and AfricaAPACChinaSouth AmericaRest of World (ROW)

    By Application Insights

    The residential segment is estimated to witness significant growth during the forecast period.The residential segment dominates the market for heat pump water heaters, with its large-scale adoption in residential buildings driven by the benefits of high energy efficiency and renewable energy alternatives to traditional heating systems. The construction industry's recovery from the financial crisis has further fueled demand for these energy-efficient solutions. Heat pump water heaters are increasingly being integrated into residential buildings, particularly in regions with harsh climatic conditions, to meet residential energy consumption needs for both water heating and space heating applications. Energy savings is a significant factor driving the market, as heat pump water heaters offer up to 60% energy savings compared to conventional electric water heaters. Renewable energy sources, such as solar and wind, are increasingly being used in conjunction with heat pump water heaters to further reduce carbon emissions and environmental impact. Installation costs, although initially higher than traditional water heaters, are offset by long-term energy savings. Advanced control system

  10. Tankless Water Heater Market Study by Condensing and Non-Condensing...

    • factmr.com
    csv, pdf
    Updated Mar 11, 2024
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    Fact.MR (2024). Tankless Water Heater Market Study by Condensing and Non-Condensing Technology for Indoor and Outdoor Spaces from 2024 to 2034 [Dataset]. https://www.factmr.com/report/tankless-water-heater-market
    Explore at:
    csv, pdfAvailable download formats
    Dataset updated
    Mar 11, 2024
    Dataset provided by
    Fact.MR
    License

    https://www.factmr.com/privacy-policyhttps://www.factmr.com/privacy-policy

    Time period covered
    2024 - 2034
    Area covered
    Worldwide
    Description

    The global tankless water heater market is calculated at US$ 4.9 billion for 2024, as per a new industry analysis published by Fact.MR. Worldwide sales of tankless water heaters are forecasted to rise at a CAGR of 4.9% and reach US$ 9.5 billion by the end of 2034.

    Report AttributesDetails
    Tankless Water Heater Market Size (2024E)US$ 4.9 Billion
    Forecasted Market Value (2034F)US$ 9.5 Billion
    Global Market Growth Rate (2024 to 2034)4.9% CAGR
    North America Market Value (2034F)US$ 1.5 Billion
    East Asia Market Value (2024E)US$ 1.1 Billion
    Sales of Electric Tankless Water Heaters (2034F)US$ 7.3 Billion
    Key Companies Profiled
    • A. O. Smith
    • Rinnai Corporation
    • Haier Smart Home Co Ltd.
    • Rheem Manufacturing Company
    • Bajaj Electricals Ltd.
    • EcoSmart Green Energy Products, Inc.
    • Atmor
    • Noritz America
    • Takagi
    • StiebelEltron Inc.
    • Navien Inc.
    • Bradford White Corporation

    Country-wise Insights

    AttributeChina
    Market Value (2024E)US$ 500 Million
    Growth Rate (2024 to 2034)7.2% CAGR
    Projected Value (2034F)US$ 1.1 Billion
    AttributeUnited States
    Market Value (2024E)US$ 400 Million
    Growth Rate (2024 to 2034)7.1% CAGR
    Projected Value (2034F)US$ 900 Million

    Category-wise Insights

    AttributeElectric Tankless Water Heaters
    Market Value (2024E)US$ 3.7 Billion
    Growth Rate (2024 to 2034)6.9% CAGR
    Projected Value (2034F)US$ 7.3 Billion
    AttributeCondensing Tankless Water Heaters
    Market Value (2024E)US$ 3.9 Billion
    Growth Rate (2024 to 2034)6.9% CAGR
    Projected Value (2034F)US$ 7.6 Billion
  11. R

    Residential Water Heater Market Report

    • marketreportanalytics.com
    doc, pdf, ppt
    Updated Mar 14, 2025
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    Market Report Analytics (2025). Residential Water Heater Market Report [Dataset]. https://www.marketreportanalytics.com/reports/residential-water-heater-market-3625
    Explore at:
    doc, ppt, pdfAvailable download formats
    Dataset updated
    Mar 14, 2025
    Dataset authored and provided by
    Market Report Analytics
    License

    https://www.marketreportanalytics.com/privacy-policyhttps://www.marketreportanalytics.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Global
    Variables measured
    Market Size
    Description

    The global residential water heater market, valued at $18,367.44 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 6.1% from 2025 to 2033. This expansion is fueled by several key factors. Rising urbanization and increasing disposable incomes in developing economies like those in APAC are boosting demand for improved home amenities, including efficient and reliable water heating systems. Furthermore, growing environmental awareness and stringent regulations promoting energy efficiency are driving the adoption of electric and solar water heaters. The shift towards sustainable energy solutions is particularly evident in developed markets like North America and Europe, where government incentives and consumer preference for eco-friendly products are contributing to market growth. Competition within the market is intense, with leading companies employing diverse strategies to gain market share, including product innovation, strategic partnerships, and expansion into new geographical regions. The market is segmented by water heater type (electric, gas, solar) and distribution channel (specialty stores, department stores & supermarkets, online retailers, and others), reflecting consumer preferences and purchasing habits. The dominance of specific segments will likely vary across regions due to factors such as energy infrastructure, climate, and consumer purchasing power. The market's growth trajectory is expected to be influenced by several factors. Continued technological advancements leading to improved energy efficiency and smart features in water heaters will continue to drive demand. However, fluctuations in raw material prices, particularly for gas-powered models, and economic downturns could pose challenges. The market will also need to address concerns around the environmental impact of certain water heater types, particularly regarding greenhouse gas emissions. Regional variations in growth will be influenced by specific market conditions, including infrastructure development, government policies, and consumer preferences. The forecast period will likely witness a gradual shift towards more sustainable options like solar and electric water heaters, particularly in regions with supportive government policies and increasing consumer environmental awareness. Competition will remain fierce, with companies constantly innovating to offer superior products and services.

  12. R

    Residential Gas Water Heaters Report

    • promarketreports.com
    doc, pdf, ppt
    Updated Mar 7, 2025
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    Pro Market Reports (2025). Residential Gas Water Heaters Report [Dataset]. https://www.promarketreports.com/reports/residential-gas-water-heaters-33538
    Explore at:
    ppt, pdf, docAvailable download formats
    Dataset updated
    Mar 7, 2025
    Dataset authored and provided by
    Pro Market Reports
    License

    https://www.promarketreports.com/privacy-policyhttps://www.promarketreports.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Global
    Variables measured
    Market Size
    Description

    The global residential gas water heater market is experiencing robust growth, projected to reach a market size of $865.7 million in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 7.0% from 2019 to 2033. This expansion is driven by several factors. Increasing urbanization and rising disposable incomes in developing economies fuel demand for improved home amenities, including efficient and reliable hot water systems. Growing awareness of energy efficiency and the environmental benefits of gas water heaters, compared to electric alternatives, is also significantly contributing to market growth. Furthermore, technological advancements leading to the development of tankless and high-efficiency models are attracting consumers seeking both cost savings and improved performance. The market is segmented by type (tank and tankless) and application (household and commercial), with the household segment dominating due to widespread residential adoption. Major players such as AO Smith, Rheem, and Rinnai are vying for market share through product innovation, strategic partnerships, and expansion into new markets. While the overall market trend is positive, certain restraints could potentially impact growth. Fluctuations in natural gas prices and government regulations regarding emissions and energy efficiency standards could present challenges. However, the ongoing demand for reliable and efficient hot water solutions, coupled with continuous technological improvements and increasing consumer awareness, suggests that the residential gas water heater market will maintain a strong trajectory throughout the forecast period. The dominance of North America and Asia Pacific in the market is expected to continue, however, emerging economies in other regions also offer significant growth opportunities for manufacturers. The market's diverse product offerings and expanding geographical reach suggest continued expansion and competitiveness within the industry. This in-depth report provides a comprehensive analysis of the global residential gas water heater market, projected to reach $15 billion by 2028. We delve into market segmentation, key players, emerging trends, and growth drivers, offering invaluable insights for businesses and investors alike. Keywords: gas water heater, tankless water heater, tank water heater, residential water heater, water heating system, energy-efficient water heater, Rheem, AO Smith, Rinnai, Noritz.

  13. Tankless water heater market revenue in North America 2016-2017

    • statista.com
    Updated Aug 3, 2023
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    Statista (2023). Tankless water heater market revenue in North America 2016-2017 [Dataset]. https://www.statista.com/statistics/1007080/north-america-tankless-water-heater-market-value/
    Explore at:
    Dataset updated
    Aug 3, 2023
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Canada, United States
    Description

    This statistic shows the tankless water heater sales in North America in 2016 and 2017. In 2017, tankless water heater sales in the United States amonted to 451 million U.S. dollars.

  14. North America Residential Water Heater Market Size By Type (Tank, Tankless,...

    • verifiedmarketresearch.com
    Updated Feb 27, 2025
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    VERIFIED MARKET RESEARCH (2025). North America Residential Water Heater Market Size By Type (Tank, Tankless, Heat Pump), By Fuel Type (Electric, Gas, Propane), By Capacity (Less than 40 Gallons, 40-55 Gallons, 55-80 Gallons, More than 80 Gallons), By Efficiency (Low Efficiency, High Efficiency), By End-User (New Construction, Replacement), By Distribution Channel (Retail, Wholesale, Online), By Geographic Scope and Forecast [Dataset]. https://www.verifiedmarketresearch.com/product/north-america-residential-water-heater-market/
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    Dataset updated
    Feb 27, 2025
    Dataset provided by
    Verified Market Researchhttps://www.verifiedmarketresearch.com/
    Authors
    VERIFIED MARKET RESEARCH
    License

    https://www.verifiedmarketresearch.com/privacy-policy/https://www.verifiedmarketresearch.com/privacy-policy/

    Area covered
    North America
    Description

    North America Residential Water Heater Market size was valued at USD 3.8 Billion in 2024 and is projected to reach USD 6.15 Billion by 2032, growing at a CAGR of 6.2% from 2026 to 2032. The North America residential water heater market is driven by increasing demand for energy-efficient and eco-friendly heating solutions, supported by government incentives and regulations promoting energy conservation. The growing adoption of tankless and hybrid water heaters, along with advancements in smart technologies, further accelerates market growth. Rising urbanization, population growth, and extreme climatic conditions boost the demand for reliable hot water solutions. Additionally, the replacement of aging water heaters and consumer preference for cost-effective, high-performance units contribute to market expansion.

  15. Commercial Water Heater Market Analysis by Electric, Gas, Oil, Solar,...

    • futuremarketinsights.com
    pdf
    Updated Feb 2, 2024
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    Future Market Insights (2024). Commercial Water Heater Market Analysis by Electric, Gas, Oil, Solar, Hybrid, and Other Fuel Sources from 2024 to 2034 [Dataset]. https://www.futuremarketinsights.com/reports/commercial-water-heater-market
    Explore at:
    pdfAvailable download formats
    Dataset updated
    Feb 2, 2024
    Dataset authored and provided by
    Future Market Insights
    License

    https://www.futuremarketinsights.com/privacy-policyhttps://www.futuremarketinsights.com/privacy-policy

    Time period covered
    2024 - 2034
    Area covered
    Worldwide
    Description

    The commercial water heater market is estimated to be valued at US$ 8.2 billion in 2024. The commercial water heater is predicted to rise at a CAGR of 6.9% from 2024 to 2034. The global commercial water heater market is anticipated to reach US$ 16 billion by 2034.

    AttributesKey Insights
    Estimated Market Size in 2024US$ 8.2 billion
    Projected Market Value in 2034US$ 16 billion
    Value-based CAGR from 2024 to 20346.9%

    2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

    Historical CAGR from 2019 to 20238.6%
    Forecast CAGR from 2024 to 20346.9%

    Country-wise Analysis

    CountriesThe Forecast CAGRs from 2024 to 2034
    United States7.2%
    United Kingdom8.1%
    China7.7%
    Japan8.0%
    South Korea9.0%

    Category-wise Insights

    CategoryCAGR
    Below 500 L6.6%
    0 to 10 kW6.3%

    Report Scope

    AttributesDetails
    Estimated Market Size in 2024US$ 8.2 billion
    Projected Market Valuation in 2034US$ 16 billion
    Value-based CAGR 2024 to 20346.9%
    Forecast Period2024 to 2034
    Historical Data Available for2019 to 2023
    Market AnalysisValue in US$ billion
    Key Regions Covered
    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • South Asia and Pacific
    • East Asia
    • Middle East and Africa
    Key Market Segments Covered
    • Storage Capacity
    • Power Rating
    • Fuel Type
    • Application
    • Region
    Key Countries Profiled
    • The United States
    • Canada
    • Brazil
    • Mexico
    • Germany
    • The United Kingdom
    • France
    • Spain
    • Italy
    • Russia
    • Poland
    • Czech Republic
    • Romania
    • India
    • Bangladesh
    • Australia
    • New Zealand
    • China
    • Japan
    • South Korea
    • GCC countries
    • South Africa
    • Israel
    Key Companies Profiled
    • A.O. Smith
    • Rinnai Corporation
    • Rheem Manufacturing
    • Ariston Thermo S.p.A
    • Racold
    • Midea Group
    • Nibe Corporation
    • Nortiz Corporation
    • Hubbell
    • Valliant
    • Lowe’s
    • Bradford White Corporation
    • Flexiheat UK Ltd
    • Daikin Industries
  16. C

    Commercial Water Heaters Market Report

    • marketreportanalytics.com
    doc, pdf, ppt
    Updated Mar 20, 2025
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    Market Report Analytics (2025). Commercial Water Heaters Market Report [Dataset]. https://www.marketreportanalytics.com/reports/commercial-water-heaters-market-14352
    Explore at:
    doc, pdf, pptAvailable download formats
    Dataset updated
    Mar 20, 2025
    Dataset authored and provided by
    Market Report Analytics
    License

    https://www.marketreportanalytics.com/privacy-policyhttps://www.marketreportanalytics.com/privacy-policy

    Time period covered
    2025 - 2033
    Area covered
    Global
    Variables measured
    Market Size
    Description

    The global commercial water heater market, valued at $11.02 billion in 2025, is projected to experience robust growth, driven by the increasing demand for hot water in commercial establishments like hotels, restaurants, and industrial facilities. A compound annual growth rate (CAGR) of 4.36% from 2025 to 2033 indicates a significant expansion, reaching approximately $16 billion by 2033. This growth is fueled by several key factors. The rising adoption of energy-efficient technologies, such as heat pump water heaters and solar water heaters, is reducing operational costs and boosting environmental sustainability, attracting businesses seeking to minimize their carbon footprint. Furthermore, stringent government regulations promoting energy conservation and stricter building codes mandating efficient water heating systems are stimulating market growth. The market is segmented by heater type (electric, gas, solar) and distribution channel (offline, online), with the online segment experiencing faster growth due to increased accessibility and e-commerce penetration. While rising raw material prices and potential supply chain disruptions represent challenges, the overall market outlook remains positive, particularly in regions like APAC, driven by rapid urbanization and industrialization in countries such as China and India. Growth within the commercial water heater market is regionally diverse. North America, particularly the US, maintains a strong market presence due to established infrastructure and high consumer spending. However, the Asia-Pacific region is expected to witness the fastest growth, propelled by expanding economies and rising infrastructure development. Europe displays steady growth, influenced by government initiatives focused on energy efficiency. Competition among leading companies is intense, with companies employing strategies focused on innovation, technological advancements, and strategic partnerships to maintain market share. The increasing focus on sustainable solutions and smart technologies within water heaters is expected to further shape market dynamics in the coming years, presenting opportunities for companies that can effectively meet evolving consumer demands and environmental regulations.

  17. U.S Shipments of residential storage water heaters 2001-2022, by type

    • statista.com
    Updated Jun 21, 2024
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    Statista (2024). U.S Shipments of residential storage water heaters 2001-2022, by type [Dataset]. https://www.statista.com/statistics/220303/manufactured-shipments-of-residential-storage-water-heaters/
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    Dataset updated
    Jun 21, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    This statistic shows shipment figures for residential gas and electric storage water heaters in the United States from 2001 to 2022. According to the source, 4.1 million residential gas storage water heaters were shipped in the United States in 2022.

  18. Instant Water Heater Market Forecast by Electric and Gas Energy Sources from...

    • futuremarketinsights.com
    pdf
    Updated Jan 3, 2024
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    Future Market Insights (2024). Instant Water Heater Market Forecast by Electric and Gas Energy Sources from 2024 to 2034 [Dataset]. https://www.futuremarketinsights.com/reports/instant-water-heater-market
    Explore at:
    pdfAvailable download formats
    Dataset updated
    Jan 3, 2024
    Dataset authored and provided by
    Future Market Insights
    License

    https://www.futuremarketinsights.com/privacy-policyhttps://www.futuremarketinsights.com/privacy-policy

    Time period covered
    2024 - 2034
    Area covered
    Worldwide
    Description

    The valuation of the instant water heater market is projected to surpass US$ 21,825.9 million by 2034. The market is anticipated to grow at a 4.60% CAGR until 2034. In 2024, the instant water heater market size stands at US$ 13,920.5 million.

    AttributesDetails
    Instant Water Heater Market Size, 2023US$ 13,359.4 million
    Instant Water Heater Market Size, 2024US$ 13,920.5 million
    Instant Water Heater Market Size, 2034US$ 21,825.9 million
    Value CAGR (2024 to 2034)4.60%

    Historical Performance of the Instant Water Heater Market Vs. Forecast Outlook

    AttributesDetails
    Historical Market Size (2019)US$ 11,777.9 million
    Instant Water Heater Market Size (2023)US$ 13,359.4 million
    HCAGR (2019 to 2023)3.20%

    Category-wise Insights

    Top ApplicationResidential
    Value Share (2024)70.20%
    Top Energy SourceElectric
    Value Share (2024)73.60%

    Country-wise Insights

    CountriesCAGR (2024 to 2034)
    United States3.20%
    Canada4.20%
    China4.60%
    India6.10%
    Australia5.30%
  19. c

    North America Natural Gas Water Heater market size will be USD 3249.84...

    • cognitivemarketresearch.com
    pdf,excel,csv,ppt
    Updated Apr 15, 2024
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    Cognitive Market Research (2024). North America Natural Gas Water Heater market size will be USD 3249.84 million in 2024. [Dataset]. https://www.cognitivemarketresearch.com/regional-analysis/north-america-natural-gas-water-heater-market-report
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    pdf,excel,csv,pptAvailable download formats
    Dataset updated
    Apr 15, 2024
    Dataset authored and provided by
    Cognitive Market Research
    License

    https://www.cognitivemarketresearch.com/privacy-policyhttps://www.cognitivemarketresearch.com/privacy-policy

    Time period covered
    2021 - 2033
    Area covered
    North America, United States, Region
    Description

    North America Natural Gas Water Heater market size will be USD 3249.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031. North America has emerged as a prominent participant, and its sales revenue is estimated to reach USD 4715.5 Million by 2031. This growth is mainly attributed to the demand for energy-efficient solutions.

  20. E

    North America Instant Water Heater Market Report and Forecast 2025-2034

    • expertmarketresearch.com
    Updated Jan 22, 2025
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    Claight Corporation (Expert Market Research) (2025). North America Instant Water Heater Market Report and Forecast 2025-2034 [Dataset]. https://www.expertmarketresearch.com/reports/north-america-instant-water-heater-market
    Explore at:
    pdf, excel, csv, pptAvailable download formats
    Dataset updated
    Jan 22, 2025
    Dataset authored and provided by
    Claight Corporation (Expert Market Research)
    License

    https://www.expertmarketresearch.com/privacy-policyhttps://www.expertmarketresearch.com/privacy-policy

    Time period covered
    2025 - 2034
    Area covered
    North America
    Variables measured
    CAGR, Forecast Market Value, Historical Market Value
    Measurement technique
    Secondary market research, data modeling, expert interviews
    Dataset funded by
    Claight Corporation (Expert Market Research)
    Description

    The North America instant water heater market size reached approximately USD 709.99 Million in 2024. The market is further projected to grow at a CAGR of 3.70% between 2025 and 2034, reaching a value of USD 1021.03 Million by 2034.

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Statista (2023). Residential water heater market share in the United States 2018-2021, by company [Dataset]. https://www.statista.com/statistics/700257/us-residential-water-heater-market-share/
Organization logo

Residential water heater market share in the United States 2018-2021, by company

Explore at:
Dataset updated
Aug 3, 2023
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
United States
Description

This residential water heater market in the United States is dominated by three major players in AO Smith, Rheem, and Bradford White. In 2021, AO Smith and Rheem together accounted for more than 70 percent of residential water heater shipments in the United States.

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