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Residential Water Heater-Global Market Insights and Sales Trends 2024
Synopsis
Residential water heaters primarily provide hot water for direct use (e.g., in showers and faucets) and for appliances such as dishwashers and clothes washers. There are several types of residential water heaters described below. The most common water heaters in single-family homes are storage tank type water heaters or tankless water heaters.
Storage water heaters use gas (natural gas or propane), electricity or oil to heat and store water at a thermostatically controlled temperature (less than 180⁰ F) for delivery on demand. Federal appliance efficiency standards differentiate storage water heaters based on whether the rated storage volume is greater than 55 gallons or less than or equal to 55 gallons.
Tankless heat water using natural gas, electricity, or propane. These units do not have a tank for storing heated water but instead use a sensor that detects the flow of water over the heat exchanger that initiates the heating element (typical volumes around 0.5 gallons). Instantaneous units are capable of delivering water at a controlled temperature of less than 180⁰F.
The global Residential Water Heater market size is expected to reach US$ 1201.2 million by 2029, growing at a CAGR of 3.1% from 2023 to 2029. The market is mainly driven by the significant applications of Residential Water Heater in various end use industries. The expanding demands from the Residential and Commercial, are propelling Residential Water Heater market. Eletric Water Heater, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Gas Water Heater segment is estimated at % CAGR for the next seven-year period.
In Latin America market, key players of Residential Water Heaters include AO Smith, Rinnai, Midea, Rheem, Calorex (Ariston Thermo), etc. Top five players hold a share approximately 45%. In terms of product, the Storage Tank Type holds a share of over 50%. And in terms of application, the largest application is Gas Water Heater, with a share of over 50%.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Residential Water Heater, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Residential Water Heater market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Residential Water Heater market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Residential Water Heater sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Residential Water Heater covered in this report include ABB Ltd, Whirlpool, Midea Group, Rinnai, Robert Bosch, GE Appliances, Haier, Siemens and GREE, etc.
The global Residential Water Heater market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
ABB Ltd
Whirlpool
Midea Group
Rinnai
Robert Bosch
GE Appliances
Haier
Siemens
GREE
Global Residential Water Heater market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Residential Water Heater market, Segment by Type:
Eletric Water Heater
Gas Water Heater
Solar Water Heater
Others
Global Residential Water Heater market, by Application
Residential
Commercial
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Residential Water Heater manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Residential Water Heater in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Residential water heaters primarily provide hot water for direct use (e.g., in showers and faucets) and for appliances such as dishwashers and clothes washers. There are several types of residential water heaters described below. The most common water heaters in single-family homes are storage tank type water heaters or tankless water heaters.
Storage water heaters use gas (natural gas or propane), electricity or oil to heat and store water at a thermostatically controlled temperature (less than 180⁰ F) for delivery on demand. Federal appliance efficiency standards differentiate storage water heaters based on whether the rated storage volume is greater than 55 gallons or less than or equal to 55 gallons.
Tankless heat water using natural gas, electricity, or propane. These units do not have a tank for storing heated water but instead use a sensor that detects the flow of water over the heat exchanger that initiates the heating element (typical volumes around 0.5 gallons). Instantaneous units are capable of delivering water at a controlled temperature of less than 180⁰F.
The global Residential Water Heater market size is expected to reach US$ 1201.2 million by 2029, growing at a CAGR of 3.1% from 2023 to 2029. The market is mainly driven by the significant applications of Residential Water Heater in various end use industries. The expanding demands from the Residential and Commercial, are propelling Residential Water Heater market. Eletric Water Heater, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Gas Water Heater segment is estimated at % CAGR for the next seven-year period.
In Latin America market, key players of Residential Water Heaters include AO Smith, Rinnai, Midea, Rheem, Calorex (Ariston Thermo), etc. Top five players hold a share approximately 45%. In terms of product, the Storage Tank Type holds a share of over 50%. And in terms of application, the largest application is Gas Water Heater, with a share of over 50%.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Residential Water Heater, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Residential Water Heater market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Residential Water Heater market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Residential Water Heater sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Residential Water Heater covered in this report include ABB Ltd, Whirlpool, Midea Group, Rinnai, Robert Bosch, GE Appliances, Haier, Siemens and GREE, etc.
The global Residential Water Heater market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
ABB Ltd
Whirlpool
Midea Group
Rinnai
Robert Bosch
GE Appliances
Haier
Siemens
GREE
Global Residential Water Heater market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Residential Water Heater market, Segment by Type:
Eletric Water Heater
Gas Water Heater
Solar Water Heater
Others
Global Residential Water Heater market, by Application
Residential
Commercial
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Residential Water Heater manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Residential Water Heater in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Residential Water Heater Market Overview
1.1 Residential Water Heater Product Overview
1.2 Residential Water Heater Market Segment by Type
1.2.1 Eletric Water Heater
1.2.2 Gas Water Heater
1.2.3 Solar Water Heater
1.2.4 Others
1.3 Global Residential Water Heater Market Size by Type
1.3.1 Global Residential Water Heater Market Size Overview by Type (2018-2029)
1.3.2 Global Residential Water Heater Historic Market Size Review by Type (2018-2023)
1.3.3 Global Residential Water Heater Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Residential Water Heater Sales Breakdown by Type (2018-2023)
1.4.2 Europe Residential Water Heater Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Residential Water Heater Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Residential Water Heater Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Residential Water Heater Sales Breakdown by Type (2018-2023)
2 Global Residential Water Heater Market Competition by Company
2.1 Global Top Players by Residential Water Heater Sales (2018-2023)
2.2 Global Top Players by Residential Water Heater Revenue (2018-2023)
2.3 Global Top Players by Residential Water Heater Price (2018-2023)
2.4 Global Top Manufacturers Residential Water Heater Manufacturing Base Distribution, Sales Area, Product Type
2.5 Residential Water Heater Market Competitive Situation and Trends
2.5.1 Residential Water Heater Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Residential Water Heater Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Residential Water Heater as of 2022)
2.7 Date of Key Manufacturers Enter into Residential Water Heater Market
2.8 Key Manufacturers Residential Water Heater Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Residential Water Heater Status and Outlook by Region
3.1 Global Residential Water Heater Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Residential Water Heater Historic Market Size by Region
3.2.1 Global Residential Water Heater Sales in Volume by Region (2018-2023)
3.2.2 Global Residential Water Heater Sales in Value by Region (2018-2023)
3.2.3 Global Residential Water Heater Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Residential Water Heater Forecasted Market Size by Region
3.3.1 Global Residential Water Heater Sales in Volume by Region (2024-2029)
3.3.2 Global Residential Water Heater Sales in Value by Region (2024-2029)
3.3.3 Global Residential Water Heater Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Residential Water Heater by Application
4.1 Residential Water Heater Market Segment by Application
4.1.1 Residential
4.1.2 Commercial
4.2 Global Residential Water Heater Market Size by Application
4.2.1 Global Residential Water Heater Market Size Overview by Application (2018-2029)
4.2.2 Global Residential Water Heater Historic Market Size Review by Application (2018-2023)
4.2.3 Global Residential Water Heater Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Residential Water Heater Sales Breakdown by Application (2018-2023)
4.3.2 Europe Residential Water Heater Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Residential Water Heater Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Residential Water Heater Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Residential Water Heater Sales Breakdown by Application (2018-2023)
5 North America Residential Water Heater by Country
5.1 North America Residential Water Heater Historic Market Size by Country
5.1.1 North America Residential Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Residential Water Heater Sales in Volume by Country (2018-2023)
5.1.3 North America Residential Water Heater Sales in Value by Country (2018-2023)
5.2 North America Residential Water Heater Forecasted Market Size by Country
5.2.1 North America Residential Water Heater Sales in Volume by Country (2024-2029)
5.2.2 North America Residential Water Heater Sales in Value by Country (2024-2029)
6 Europe Residential Water Heater by Country
6.1 Europe Residential Water Heater Historic Market Size by Country
6.1.1 Europe Residential Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Residential Water Heater Sales in Volume by Country (2018-2023)
6.1.3 Europe Residential Water Heater Sales in Value by Country (2018-2023)
6.2 Europe Residential Water Heater Forecasted Market Size by Country
6.2.1 Europe Residential Water Heater Sales in Volume by Country (2024-2029)
6.2.2 Europe Residential Water Heater Sales in Value by Country (2024-2029)
7 Asia-Pacific Residential Water Heater by Region
7.1 Asia-Pacific Residential Water Heater Historic Market Size by Region
7.1.1 Asia-Pacific Residential Water Heater Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Residential Water Heater Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Residential Water Heater Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Residential Water Heater Forecasted Market Size by Region
7.2.1 Asia-Pacific Residential Water Heater Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Residential Water Heater Sales in Value by Region (2024-2029)
8 Latin America Residential Water Heater by Country
8.1 Latin America Residential Water Heater Historic Market Size by Country
8.1.1 Latin America Residential Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Residential Water Heater Sales in Volume by Country (2018-2023)
8.1.3 Latin America Residential Water Heater Sales in Value by Country (2018-2023)
8.2 Latin America Residential Water Heater Forecasted Market Size by Country
8.2.1 Latin America Residential Water Heater Sales in Volume by Country (2024-2029)
8.2.2 Latin America Residential Water Heater Sales in Value by Country (2024-2029)
9 Middle East and Africa Residential Water Heater by Country
9.1 Middle East and Africa Residential Water Heater Historic Market Size by Country
9.1.1 Middle East and Africa Residential Water Heater Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Residential Water Heater Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Residential Water Heater Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Residential Water Heater Forecasted Market Size by Country
9.2.1 Middle East and Africa Residential Water Heater Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Residential Water Heater Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 ABB Ltd
10.1.1 ABB Ltd Company Information
10.1.2 ABB Ltd Introduction and Business Overview
10.1.3 ABB Ltd Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.1.4 ABB Ltd Residential Water Heater Products Offered
10.1.5 ABB Ltd Recent Development
10.2 Whirlpool
10.2.1 Whirlpool Company Information
10.2.2 Whirlpool Introduction and Business Overview
10.2.3 Whirlpool Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Whirlpool Residential Water Heater Products Offered
10.2.5 Whirlpool Recent Development
10.3 Midea Group
10.3.1 Midea Group Company Information
10.3.2 Midea Group Introduction and Business Overview
10.3.3 Midea Group Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Midea Group Residential Water Heater Products Offered
10.3.5 Midea Group Recent Development
10.4 Rinnai
10.4.1 Rinnai Company Information
10.4.2 Rinnai Introduction and Business Overview
10.4.3 Rinnai Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Rinnai Residential Water Heater Products Offered
10.4.5 Rinnai Recent Development
10.5 Robert Bosch
10.5.1 Robert Bosch Company Information
10.5.2 Robert Bosch Introduction and Business Overview
10.5.3 Robert Bosch Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Robert Bosch Residential Water Heater Products Offered
10.5.5 Robert Bosch Recent Development
10.6 GE Appliances
10.6.1 GE Appliances Company Information
10.6.2 GE Appliances Introduction and Business Overview
10.6.3 GE Appliances Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.6.4 GE Appliances Residential Water Heater Products Offered
10.6.5 GE Appliances Recent Development
10.7 Haier
10.7.1 Haier Company Information
10.7.2 Haier Introduction and Business Overview
10.7.3 Haier Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Haier Residential Water Heater Products Offered
10.7.5 Haier Recent Development
10.8 Siemens
10.8.1 Siemens Company Information
10.8.2 Siemens Introduction and Business Overview
10.8.3 Siemens Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Siemens Residential Water Heater Products Offered
10.8.5 Siemens Recent Development
10.9 GREE
10.9.1 GREE Company Information
10.9.2 GREE Introduction and Business Overview
10.9.3 GREE Residential Water Heater Sales, Revenue and Gross Margin (2018-2023)
10.9.4 GREE Residential Water Heater Products Offered
10.9.5 GREE Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Residential Water Heater Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Residential Water Heater Industrial Chain Analysis
11.4 Residential Water Heater Market Dynamics
11.4.1 Residential Water Heater Industry Trends
11.4.2 Residential Water Heater Market Drivers
11.4.3 Residential Water Heater Market Challenges
11.4.4 Residential Water Heater Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Residential Water Heater Distributors
12.3 Residential Water Heater Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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