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Report Overview
The global water heater market stood at USD 33.86 Billion in 2025 and is expected to grow at a CAGR of 4.00% during the period 2026-2035 to reach a value of USD 50.12 Billion in 2035.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
Water Heater Market Competitive Landscape
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Bosch Thermotechnology Corp
- Ariston Holding NV
- Rinnai America Corporation
- Bradford White Corporation
- Whirlpool Corporation
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Water Heater Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2025, the water heater market attained a value of nearly USD 33.86 Billion.
The market is estimated to grow at a CAGR of 4.00% between 2026 and 2035.
The major drivers of the market include the rising demand for hot water from residential and commercial sector, rising application of water heater in the household, rising disposable income, increasing population, and rapid urbanisation.
The growing awareness about hygiene, technological advancements in the home care appliances sector, and the emerging e-commerce industry are some market trends.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Electric, solar, and gas, are the major products based on which the market has been segmented.
Tankless, storage, and hybrid are the different technologies considered in the report.
Below 30 liters, 30 - 100 liters, 100 - 250 liters, 250-400 liters, and above 400 liters, among others are the different types of capacity based on which the market is divided.
Residential, commercial, and industrial are the different applications of the product.
Some major manufacturers are O. Smith Corporation, Rheem Manufacturing Company, Ariston Thermo Group, Bosch Thermotechnology, and Whirlpool Corporation.
Electric water heaters are the most popular in water heater market.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach USD 50.12 Billion by 2035.
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