PUBLISHER: Grand View Research | PRODUCT CODE: 1814116
PUBLISHER: Grand View Research | PRODUCT CODE: 1814116
The global water heater market size was estimated at USD 30,485.9 million in 2024 and is projected to reach USD 46,338.2 million by 2033, growing at a CAGR of 4.8% from 2025 to 2033. The growing focus on reducing energy consumption is pushing consumers toward high-efficiency water heaters. Governments worldwide are offering incentives for energy-saving home appliances.
Advanced technologies like heat pumps and solar water heaters are gaining popularity. This shift is significantly driving market expansion. Rapid urbanization and infrastructure development, especially in the Asia Pacific and Africa, are fueling the demand for water heaters.
Increasing residential and commercial construction projects require reliable hot water solutions. Rising disposable incomes are also boosting consumer spending on modern appliances. These trends are accelerating the growth of the global water heater industry.
Global Water Heater Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global water heater market report based on capacity, product, technology, application, and region: