Global Residential Water Heaters Market Outlook:
The Global Residential Water Heaters Market outlook reveals that instantaneous units are capable of delivering water at a controlled temperature of less than 180⁰F. This is a significant feature as it ensures safety and prevents scalding accidents. The market was valued at US$ 965.7 million in 2022 and is projected to reach US$ 1295.3 million by 2029. This indicates a steady growth with a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period from 2023 to 2029. The market is dominated by five key players who collectively hold a share of approximately 45%. This suggests a high level of market concentration and intense competition among these players. In terms of product segmentation, the Storage Tank Type holds a majority share of over 50%. This can be attributed to its widespread use due to its affordability and simplicity. In terms of application segmentation, the Gas Water Heater emerges as the largest application with a share of over 50%. This can be attributed to its energy efficiency and cost-effectiveness. NO DATA
| Report Metric | Details |
| Report Name | Residential Water Heaters Market |
| Accounted market size in 2023 | US$ 1007.9 million |
| Forecasted market size in 2029 | US$ 1295.3 million |
| CAGR | 4.3 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | AO Smith, Rinnai, Midea, Rheem, Calorex (Ariston Thermo), Whirlpool, Stiebel Eltron, Noritz, Zhejiang Jiadele Technology Co, Bosch, GREE, Bradford White, EcoSmart, Vanward, Haier |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
