給湯器の世界市場

Report Highlights

The global market for water heaters is estimated to increase from $23.7 billion in 2023 to reach $32.1 billion by 2029, at a compound annual growth rate (CAGR) of 5.2% from 2024 through 2029.

給湯器の世界市場は、2023 年の 237 億ドルから増加し、2024 年から 2029 年にかけて年間平均成長率 (CAGR) 5.2% で、2029 年までに 321 億ドルに達すると推定されています。

Summary:

Technological Advances and Applications

Technological innovations from enhancing energy efficiency to providing greater convenience have revolutionized the water heating industry. Instant water heaters heat water on-demand, eliminating energy waste from constantly reheating stored water. Smart water heaters offer remote control, energy monitoring and learn user habits to optimize performance. Hybrid water heaters combine electric resistance heating with heat pump technology, extracting heat from the air for significant energy savings.

Further, hydrogen-powered water heaters are being explored as a potential clean energy solution. These advances not only reduce utility bills but also contribute to a smaller environmental footprint. Consequently, technological advances have transformed water heaters from basic appliances into energy-efficient, smart and environmentally friendly devices. These innovations not only enhance user comfort and convenience but also contribute to a more sustainable future.

Market Dynamics and Growth Factors

The global market for water heaters was valued at $23.7 billion in 2023 and is expected to reach $32.1 billion by the end of 2029, growing at a CAGR of 5.2% during the forecast period.

The water heater market is experiencing robust growth driven by several key factors. Primarily, increasing urbanization and rising disposable incomes are fueling the demand for modern amenities, including hot water. The growing emphasis on energy efficiency and sustainability is spurring the adoption of advanced water heater technologies like heat pumps and instant water heaters. The expansion of the construction and real estate sectors, particularly in developing economies, is creating a substantial demand for water heaters in residential and commercial buildings. Moreover, stringent government regulations promoting energy conservation are encouraging consumers and businesses to

opt for energy-efficient water heating solutions.

Report Scope

A water heater is a device that heats water for domestic and commercial uses. It operates by converting energy from a source such as electricity, gas or solar power into thermal energy, which heats the water. This heated water is then stored in a tank or heated on demand in instant heaters and made available for use. Water heaters find extensive applications in both residential and commercial settings. In homes, they provide hot water for bathing, cleaning dishes, laundry and other household chores. Additionally, they are essential for cooking, especially in areas where gas stoves are not prevalent. Commercial applications such as hospitals, hotels, restaurants and laundries rely on water heaters for various processes, including cleaning equipment, sterilizing tools, and heating materials.

This report gives an overview of the global market for water heaters and examines market trends. It includes 2023 as the base year and forecast data from 2024 to the end of 2029. The report analyzes the global market revenue ($ million) in terms of segments (product type, storage capacity, energy source and applications) and regions (North America, Europe, Asia-Pacific and the Rest of the World).

The report also examines key trends and challenges affecting the market and the companies operating within it. It analyzes environmental, social and corporate governance (ESG) developments, patents and emerging technologies in the water heater market. It also surveys the competition among major players and provides profiles of the market’s leading companies.

Report Synopsis

Report Includes

– 49 data tables and 44 additional tables

– Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecasts for 2025, and projected CAGRs through 2029

– Estimates of the current market size and revenue prospects, along with a market share analysis by product type, storage capacity, energy type, application and region

– Discussion of the market dynamics, technological advances, regulations, and the macroeconomic factors influencing the industry

– A Porter’s Five Forces model, and global supply chain and PESTLE analyses

– Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies

– A review of recent patents

– Analysis of the industry structure, including company market shares, strategic alliances, M&A activity and a venture funding outlook

– Company profiles of major players within the industry, including A.O. Smith, Rheem Manufacturing Co., and Rinnai Corp.

Table of Contents

Chapter 1 Executive Summary

Market Outlook

Scope of Report

Market Summary

Technological Advances and Applications

Market Dynamics and Growth Factors

Future Trends and Developments

Segmental Analysis

Regional Insights and Emerging Markets

Conclusion

Chapter 2 Market Overview

Technology Overview

Current and Future Market Overview

Macroeconomic Factors

Economic Growth and Housing Market Impact on the Water Heater Industry

Impact on the Water Heater Industry of Government Regulations and Policies

Value Chain Analysis

Research & Development

Raw Material Suppliers

Manufacturers

Distributors

End Users

Regulatory Landscape

Porter’s Five Forces Analysis

Bargaining Power of Buyers (Consumers)

Bargaining Power of Suppliers (Vendors)

Potential of New Entrants

Threat from Substitutes

Competition the Industry

Chapter 3 Market Dynamics

Overview

Market Drivers

Growing Demand for Energy-Efficient Water Heaters

Rapid Urbanization and Migration of People Towards Cities

Market Restraints

Geographic Limitations for the Water Heater Market

High Upfront Costs on Energy-efficient Water Heaters

Market Opportunities

Government Mandates Pertaining to Energy Efficiency

Increasing Demand for Smart Water Heaters

Chapter 4 Emerging Technologies and Developments

Emerging Technologies

Tankless Water Heaters

Smart Water Heaters

Heat Pump Water Heaters

Hybrid Water Heaters

High-Efficiency Condensing Water Heaters

Patent Analysis

Regional Patterns

Key Findings

Chapter 5 Market Segmentation Analysis

Segmentation Breakdown

Water Heaters Market by Product Type

Instant Water Heaters

Storage Water Heaters

Water Heaters Market by Storage Capacity

< 30 Liters

30-100 Liters

100-250 Liters

250-400 Liters

> 400 Liters

Water Heaters Market by Energy Source

Electric Water Heaters

Solar Water Heaters

Gas Water Heaters

Water Heaters Market by Applications

Residential Water Heaters

Commercial Water Heaters

Geographic Breakdown

Water Heaters Market by Region

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Rest of Europe

Asia-Pacific

China

Japan

India

South Korea

Rest of Asia-Pacific

Rest of the World

South America

Middle East

Africa

Chapter 6 Competitive Intelligence

Market Share Analysis

SWOT Analysis of Key Players

Chapter 7 Sustainability in the Water Heaters Industry: An ESG Perspective

Overview

Key ESG Issues in the Water Heater Industry

ESG Performance Analysis

Current Status of ESG in the Global Market

ESG Practices in the Water Heaters Market

ESG-Related Risks in Water Heater Industry

ESG-Related Opportunities in the Water Heater Industry

Concluding Remarks from BCC Research

Chapter 8 Appendix

Methodology

References

Abbreviations

Company Profiles

A.O. SMITH

ARISTON HOLDING N.V.

BRADFORD WHITE Corp.

FERROLI S.P.A

GUANGDONG MACRO GAS CO. LTD.

HAIER.COM

HAVELLS INDIA LTD.

KYUNGDONG NAVIEN

NORITZ CORP.

RHEEM MANUFACTURING CO.

RINNAI CORP.

ROBERT BOSCH GMBH

STATE INDUSTRIES

VAILLANT GROUP

List of Tables

Summary Table :  Global Market for Water Heaters, by Product Type, Through 2029

Table 1 :  R&#38;D Investment, by Top Water Heater Manufacturers, 2023

Table 2 :  Regulations/Standards for Water Heaters Market, 2023

Table 3 :  Porter&#8217;s Five Forces Analysis: Overview

Table 4 :  Published Patents on Water Heater, May 2023&#8211;May 2024

Table 5 :  Global Market for Water Heaters, by Product Type, Through 2029

Table 6 :  Global Market for Instant Water Heaters, by Energy Source, Through 2029

Table 7 :  Global Market for Instant Water Heaters, by Applications, Through 2029

Table 8 :  Global Market for Storage Water Heaters, by Energy Source, Through 2029

Table 9 :  Global Market for Storage Water Heaters, by Applications, Through 2029

Table 10 :  Global Market for Storage Water Heaters, by Capacity, Through 2029

Table 11 :  Global Market for Water Heaters, by Energy Source, Through 2029

Table 12 :  Global Market for Electric Water Heaters, by Product Type, Through 2029

Table 13 :  Global Market for Electric Water Heaters, by Storage Capacity, Through 2029

Table 14 :  Global Market for Solar Water Heaters, by Product Type, Through 2029

Table 15 :  Global Market for Solar Water Heaters, by Storage Capacity, Through 2029

Table 16 :  Global Market for Gas Water Heaters, by Product Type, Through 2029

Table 17 :  Global Market for Gas Water Heaters, by Storage Capacity, Through 2029

Table 18 :  Global Market for Water Heaters, by Applications, Through 2029

Table 19 :  Global Market for Residential Water Heaters, by Product Type, Through 2029

Table 20 :  Global Market for Residential Water Heaters, by Storage Capacity, Through 2029

Table 21 :  Global Market for Commercial Water Heaters, by Product Type, Through 2029

Table 22 :  Global Market for Commercial Water Heaters, by Storage Capacity, Through 2029

Table 23 :  Global Market for Water Heaters, by Region, Through 2029

Table 24 :  North American Market for Water Heaters, by Country, Through 2029

Table 25 :  North American Market for Water Heaters, by Product Type, Through 2029

Table 26 :  North American Market for Water Heaters, by Capacity, Through 2029

Table 27 :  North American Market for Water Heaters, by Energy Source, Through 2029

Table 28 :  North American Market for Water Heaters, by Applications, Through 2029

Table 29 :  European Market for Water Heaters, by Country, Through 2029

Table 30 :  European Market for Water Heaters, by Product Type, Through 2029

Table 31 :  European Market for Water Heaters, by Capacity, Through 2029

Table 32 :  European Market for Water Heaters, by Energy Source, Through 2029

Table 33 :  European Market for Water Heaters, by Applications, Through 2029

Table 34 :  Asia-Pacific Market for Water Heaters, by Country, Through 2029

Table 35 :  Asia-Pacific Market for Water Heaters, by Product Type, Through 2029

Table 36 :  Asia-Pacific Market for Water Heaters, by Capacity, Through 2029

Table 37 :  Asia-Pacific Market for Water Heaters, by Energy Source, Through 2029

Table 38 :  Asia-Pacific Market for Water Heaters, by Applications, Through 2029

Table 39 :  RoW Market for Water Heaters, by Sub-region, Through 2029

Table 40 :  RoW Market for Water Heaters, by Product Type, Through 2029

Table 41 :  RoW Market for Water Heaters, by Capacity, Through 2029

Table 42 :  RoW Market for Water Heaters, by Energy Source, Through 2029

Table 43 :  RoW Market for Water Heaters, by Applications, Through 2029

Table 44 :  Ranking of Top 5 Key Players in Global Market for Water Heaters, 2023

Table 45 :  SWOT Analysis of Top Three Companies in the Water Heater Market

Table 46 :  Environmental Metrics for the Water Heaters Market

Table 47 :  Social Metrics for the Water Heaters Market

Table 48 :  Governance Metrics for the Water Heaters Market

Table 49 :  ESG Risk Ratings Metric, by Company, 2023

Table 50 :  Report Information Sources

Table 51 :  Glossary of Terms Used in the Report

Table 52 :  A.O. Smith: Company Snapshot

Table 53 :  A.O. Smith: Financial Performance, FY 2022 and 2023

Table 54 :  A.O. Smith: Product Portfolio

Table 55 :  A.O. Smith: News/Key Developments, 2024

Table 56 :  Ariston Holding N.V.: Company Snapshot

Table 57 :  Ariston Holding N.V.: Financial Performance, FY 2022 and 2023

Table 58 :  Ariston Holding N.V.: Product Portfolio

Table 59 :  Ariston Holding N.V.: News/Key Developments, 2022 and 2023

Table 60 :  Bradford White Corp.: Company Snapshot

Table 61 :  Bradford White Corp.: Product Portfolio

Table 62 :  Bradford White Corp.: News/Key Developments, 2024

Table 63 :  Ferroli S.p.A: Company Snapshot

Table 64 :  Ferroli S.p.A: Product Portfolio

Table 65 :  Guangdong Macro Gas Co. Ltd.: Company Snapshot

Table 66 :  Guangdong Macro Gas Co. Ltd.: Product Portfolio

Table 67 :  Haier.com: Company Snapshot

Table 68 :  Haier.com: Financial Performance, FY 2022 and 2023

Table 69 :  Haier.com: Product Portfolio

Table 70 :  Havells India Ltd.: Company Snapshot

Table 71 :  Havells India Ltd.: Financial Performance, FY 2022 and 2023

Table 72 :  Havells India Ltd.: Product Portfolio

Table 73 :  KyungDong Navien: Company Snapshot

Table 74 :  KyungDong Navien: Product Portfolio

Table 75 :  Noritz Corp.: Company Snapshot

Table 76 :  Noritz Corp.: Financial Performance, FY 2022 and 2023

Table 77 :  Noritz Corp.: Product Portfolio

Table 78 :  Rheem Manufacturing Co.: Company Snapshot

Table 79 :  Rheem Manufacturing Co.: Product Portfolio

Table 80 :  Rheem Manufacturing Co.: News/Key Developments, 2023

Table 81 :  Rinnai Corp.: Company Snapshot

Table 82 :  Rinnai Corp.: Financial Performance, FY 2022 and 2023

Table 83 :  Rinnai Corp.: Product Portfolio

Table 84 :  Rinnai Corp.: News/Key Developments, 2023

Table 85 :  Robert Bosch GmbH: Company Snapshot

Table 86 :  Robert Bosch GmbH: Financial Performance, FY 2022 and 2023

Table 87 :  Robert Bosch GmbH: Product Portfolio

Table 88 :  Robert Bosch GmbH: News/Key Developments, 2023

Table 89 :  State Industries: Company Snapshot

Table 90 :  State Industries: Product Portfolio

Table 91 :  Vaillant Group: Company Snapshot

Table 92 :  Vaillant Group: Product Portfolio

Table 93 :  Vaillant Group: News/Key Developments, 2023

List of Figures

Summary Figure  :  Global Market Shares of Water Heaters, by Product Type, 2023

Figure 1 :  Water Heater Market: Value Chain Analysis

Figure 2 :  Water Heater Market: Porter&#8217;s Five Forces Analysis

Figure 3 :  Water Heater Market: Bargaining Power of Buyers

Figure 4 :  Water Heater Market: Bargaining Power of Suppliers

Figure 5 :  Water Heater Market: Potential of New Entrants

Figure 6 :  Water Heater Market: Threat from Substitutes

Figure 7 :  Water Heater Market: Competition in the Industry

Figure 8 :  Market Dynamics of Water Heaters

Figure 9 :  Published Patents and Patent Applications Related to Water heaters, by Region, May 2023&#8211;May 2024

Figure 10 :  Global Market Shares of Water Heaters, by Product Type, 2023

Figure 11 :  Global Market Shares of Storage Water Heaters, by Capacity, 2023

Figure 12 :  Global Market Shares of Water Heaters, by Energy Source, 2023

Figure 13 :  Global Market Shares of Water Heaters, by Applications, 2023

Figure 14 :  Global Market Shares of Water Heaters, by Region, 2023

Figure 15 :  A.O. Smith: Revenue Share, by Business Unit, FY 2023

Figure 16 :  Ariston Holding N.V.: Revenue Share, by Business Unit, FY 2023

Figure 17 :  Ariston Holding N.V.: Revenue Share, by Country/Region, FY 2023

Figure 18 :  Haier.com: Revenue Share, by Business Unit, FY 2023

Figure 19 :  Haier.com: Revenue Share, by Country/Region, FY 2023

Figure 20 :  Havells India Ltd.: Revenue Share, by Business Unit, FY 2023

Figure 21 :  Havells India Ltd.: Revenue Share, by Country/Region, FY 2023

Figure 22 :  Noritz Corp.: Revenue Share, by Country/Region, FY 2023

Figure 23 :  Rinnai Corp.: Revenue Share, by Business Unit, FY 2023

Figure 24 :  Rinnai Corp.: Revenue Share, by Country/Region, FY 2023

Figure 25 :  Robert Bosch GmbH: Revenue Share, by Business Unit, FY 2023

Figure 26 :  Robert Bosch GmbH: Revenue Share, by Country/Region, FY 2023

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