Residential Water Heater Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Residential Water Heater Market covers analysis by Type (Gas, Instant, Storage, Solar); Distribution Channel (Online, Offline) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00012277
  • Category : Manufacturing and Construction
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

The residential water heater is used to heat the water for domestic purposes. The growing construction activities are one of the major factors supporting the demand for the residential water heater market. The residential water heater market is highly fragmented with the presence of a large number of players operating in the market. Moreover, the demand for the residential water heater is expected to grow significantly in the APAC region, owing to the growing construction activities in emerging economies such as India and China.

MARKET DYNAMICS

Growing construction activities, rapid urbanization, and technological advancements are some of the significant factors driving the growth of the residential water heater market. The companies operating in the market are focusing on offering highly efficient water heaters for domestic purposes with a low carbon footprint. Moreover, with the growing focus towards the adoption of renewable energy, the adoption of solar water heater is growing significantly across the globe.

MARKET SCOPE

The Global Residential water heater Market Analysis to 2028 is a specialized and in-depth study of the residential water heater market with a special focus on the global market trend analysis. The report aims to provide an overview of residential water heater market with detailed market segmentation by type, sales channel, and geography. The global residential water heater market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading residential water heater market players and offers key trends and opportunities in the residential water heater market.

MARKET SEGMENTATION

The global residential water heater market is segmented on the basis of type and sales channel. Based on type, the market is segmented as gas, instant, storage, and solar. Based on sales channel, the market is segmented as online and offline.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global residential water heater market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The residential water heater market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting residential water heater market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the residential water heater market in these regions.

World Geography

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global residential water heater market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The residential water heater market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting residential water heater market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the residential water heater market in these regions.

MARKET PLAYERS

The reports cover key developments in the residential water heater market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from residential water heater market are anticipated to lucrative growth opportunities in the future with the rising demand for residential water heater market. Below mentioned is the list of few companies engaged in the residential water heater market.

The report also includes the profiles of key residential water heater market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.


  •   A. O. Smith
  •   Ariston Thermo SPA
  •   Bradford White Corporation
  •   Ferroli
  •   GE Appliances
  •   Lennox International Inc.
  •   Racold
  •   Rheem Manufacturing
  •   Rinnai Corporation
  •   Whirlpool Corporation.


The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1Residential Water Heater Market - By Type
1.3.2Residential Water Heater Market - By Distribution Channel
1.3.3Residential Water Heater Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4.RESIDENTIAL WATER HEATER MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS

5.RESIDENTIAL WATER HEATER MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6.RESIDENTIAL WATER HEATER MARKET - GLOBAL MARKET ANALYSIS
6.1.RESIDENTIAL WATER HEATER - GLOBAL MARKET OVERVIEW
6.2.RESIDENTIAL WATER HEATER - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE

7.RESIDENTIAL WATER HEATER MARKET - REVENUE AND FORECASTS TO 2028- TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.GAS
7.3.1.Overview
7.3.2.Gas Market Forecast and Analysis
7.4.INSTANT
7.4.1.Overview
7.4.2.Instant Market Forecast and Analysis
7.5.STORAGE
7.5.1.Overview
7.5.2.Storage Market Forecast and Analysis
7.6.SOLAR
7.6.1.Overview
7.6.2.Solar Market Forecast and Analysis
8.RESIDENTIAL WATER HEATER MARKET - REVENUE AND FORECASTS TO 2028- DISTRIBUTION CHANNEL
8.1.OVERVIEW
8.2.DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3.ONLINE
8.3.1.Overview
8.3.2.Online Market Forecast and Analysis
8.4.OFFLINE
8.4.1.Overview
8.4.2.Offline Market Forecast and Analysis

9.RESIDENTIAL WATER HEATER MARKET REVENUE AND FORECASTS TO 2028- GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Residential Water Heater Market Overview
9.1.2North America Residential Water Heater Market Forecasts and Analysis
9.1.3North America Residential Water Heater Market Forecasts and Analysis - By Type
9.1.4North America Residential Water Heater Market Forecasts and Analysis - By Distribution Channel
9.1.5North America Residential Water Heater Market Forecasts and Analysis - By Countries
9.1.5.1United States Residential Water Heater Market
9.1.5.1.1United States Residential Water Heater Market by Type
9.1.5.1.2United States Residential Water Heater Market by Distribution Channel
9.1.5.2Canada Residential Water Heater Market
9.1.5.2.1Canada Residential Water Heater Market by Type
9.1.5.2.2Canada Residential Water Heater Market by Distribution Channel
9.1.5.3Mexico Residential Water Heater Market
9.1.5.3.1Mexico Residential Water Heater Market by Type
9.1.5.3.2Mexico Residential Water Heater Market by Distribution Channel
9.2.EUROPE
9.2.1Europe Residential Water Heater Market Overview
9.2.2Europe Residential Water Heater Market Forecasts and Analysis
9.2.3Europe Residential Water Heater Market Forecasts and Analysis - By Type
9.2.4Europe Residential Water Heater Market Forecasts and Analysis - By Distribution Channel
9.2.5Europe Residential Water Heater Market Forecasts and Analysis - By Countries
9.2.5.1Germany Residential Water Heater Market
9.2.5.1.1Germany Residential Water Heater Market by Type
9.2.5.1.2Germany Residential Water Heater Market by Distribution Channel
9.2.5.2France Residential Water Heater Market
9.2.5.2.1France Residential Water Heater Market by Type
9.2.5.2.2France Residential Water Heater Market by Distribution Channel
9.2.5.3Italy Residential Water Heater Market
9.2.5.3.1Italy Residential Water Heater Market by Type
9.2.5.3.2Italy Residential Water Heater Market by Distribution Channel
9.2.5.4United Kingdom Residential Water Heater Market
9.2.5.4.1United Kingdom Residential Water Heater Market by Type
9.2.5.4.2United Kingdom Residential Water Heater Market by Distribution Channel
9.2.5.5Russia Residential Water Heater Market
9.2.5.5.1Russia Residential Water Heater Market by Type
9.2.5.5.2Russia Residential Water Heater Market by Distribution Channel
9.2.5.6Rest of Europe Residential Water Heater Market
9.2.5.6.1Rest of Europe Residential Water Heater Market by Type
9.2.5.6.2Rest of Europe Residential Water Heater Market by Distribution Channel
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Residential Water Heater Market Overview
9.3.2Asia-Pacific Residential Water Heater Market Forecasts and Analysis
9.3.3Asia-Pacific Residential Water Heater Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Residential Water Heater Market Forecasts and Analysis - By Distribution Channel
9.3.5Asia-Pacific Residential Water Heater Market Forecasts and Analysis - By Countries
9.3.5.1Australia Residential Water Heater Market
9.3.5.1.1Australia Residential Water Heater Market by Type
9.3.5.1.2Australia Residential Water Heater Market by Distribution Channel
9.3.5.2China Residential Water Heater Market
9.3.5.2.1China Residential Water Heater Market by Type
9.3.5.2.2China Residential Water Heater Market by Distribution Channel
9.3.5.3India Residential Water Heater Market
9.3.5.3.1India Residential Water Heater Market by Type
9.3.5.3.2India Residential Water Heater Market by Distribution Channel
9.3.5.4Japan Residential Water Heater Market
9.3.5.4.1Japan Residential Water Heater Market by Type
9.3.5.4.2Japan Residential Water Heater Market by Distribution Channel
9.3.5.5South Korea Residential Water Heater Market
9.3.5.5.1South Korea Residential Water Heater Market by Type
9.3.5.5.2South Korea Residential Water Heater Market by Distribution Channel
9.3.5.6Rest of Asia-Pacific Residential Water Heater Market
9.3.5.6.1Rest of Asia-Pacific Residential Water Heater Market by Type
9.3.5.6.2Rest of Asia-Pacific Residential Water Heater Market by Distribution Channel
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Residential Water Heater Market Overview
9.4.2Middle East and Africa Residential Water Heater Market Forecasts and Analysis
9.4.3Middle East and Africa Residential Water Heater Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Residential Water Heater Market Forecasts and Analysis - By Distribution Channel
9.4.5Middle East and Africa Residential Water Heater Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Residential Water Heater Market
9.4.5.1.1South Africa Residential Water Heater Market by Type
9.4.5.1.2South Africa Residential Water Heater Market by Distribution Channel
9.4.5.2Saudi Arabia Residential Water Heater Market
9.4.5.2.1Saudi Arabia Residential Water Heater Market by Type
9.4.5.2.2Saudi Arabia Residential Water Heater Market by Distribution Channel
9.4.5.3U.A.E Residential Water Heater Market
9.4.5.3.1U.A.E Residential Water Heater Market by Type
9.4.5.3.2U.A.E Residential Water Heater Market by Distribution Channel
9.4.5.4Rest of Middle East and Africa Residential Water Heater Market
9.4.5.4.1Rest of Middle East and Africa Residential Water Heater Market by Type
9.4.5.4.2Rest of Middle East and Africa Residential Water Heater Market by Distribution Channel
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Residential Water Heater Market Overview
9.5.2South and Central America Residential Water Heater Market Forecasts and Analysis
9.5.3South and Central America Residential Water Heater Market Forecasts and Analysis - By Type
9.5.4South and Central America Residential Water Heater Market Forecasts and Analysis - By Distribution Channel
9.5.5South and Central America Residential Water Heater Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Residential Water Heater Market
9.5.5.1.1Brazil Residential Water Heater Market by Type
9.5.5.1.2Brazil Residential Water Heater Market by Distribution Channel
9.5.5.2Argentina Residential Water Heater Market
9.5.5.2.1Argentina Residential Water Heater Market by Type
9.5.5.2.2Argentina Residential Water Heater Market by Distribution Channel
9.5.5.3Rest of South and Central America Residential Water Heater Market
9.5.5.3.1Rest of South and Central America Residential Water Heater Market by Type
9.5.5.3.2Rest of South and Central America Residential Water Heater Market by Distribution Channel

10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11.RESIDENTIAL WATER HEATER MARKET, KEY COMPANY PROFILES
11.1.A. O. SMITH
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.ARISTON THERMO SPA
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.BRADFORD WHITE CORPORATION
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.FERROLI
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.GE APPLIANCES
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.LENNOX INTERNATIONAL INC.
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.RACOLD
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.RHEEM MANUFACTURING
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.RINNAI CORPORATION
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.WHIRLPOOL CORPORATION
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments

12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
The List of Companies

1. A. O. Smith
2. Ariston Thermo SPA
3. Bradford White Corporation
4. Ferroli
5. GE Appliances
6. Lennox International Inc.
7. Racold
8. Rheem Manufacturing
9. Rinnai Corporation
10. Whirlpool Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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