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Asia Pacific Water Heater Market
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Asia Pacific Water Heater Market Decade Long Trends, Analysis and Forecast 2025-2033

Asia Pacific Water Heater Market by Product, 2021 – 2032 (USD Million & ‘000 Units) (Instant, Storage), by Capacity, 2021 – 2032 (USD Million & ‘000 Units) (< 30 liters, 30 – 100 liters, 100 – 250 liters, 250 – 400 liters, >400 liters), by Application, 2021 – 2032 (USD Million & ‘000 Units) (Residential, Commercial), by Asia Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Sri Lanka) Forecast 2025-2033

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Asia Pacific Water Heater Market Decade Long Trends, Analysis and Forecast 2025-2033

Key Insights

The size of the Asia Pacific Water Heater Market was valued at USD 11.25 Billion in 2024 and is projected to reach USD 17.60 Billion by 2033, with an expected CAGR of 6.6% during the forecast period. These key factors drive the expansion. Fast and widespread urbanization in the region is expanding demand for modern houses and its complementary amenities such as a water heater. Increasing disposable income is facilitating many households to acquire such household appliances. People are getting aware of the conveniences and hygienic value addition by installing a water heater. Government policies aimed at promoting energy efficiency while reducing carbon emissions play an important role by promoting the adoption of energy-efficient water heating technologies. The market is segmented by product type; the instant water heaters segment is expected to grow at the highest rate. The 400-liter segment is anticipated to have the largest share in capacity, and the residential segment is the largest segment by application. Geographically, China stands as the largest market for water heaters in the Asia-Pacific. Following China, India and Japan are there for water heaters. 

Asia Pacific Water Heater Market Research Report - Market Size, Growth & Forecast

Asia Pacific Water Heater Market Concentration & Characteristics

The Asia Pacific water heater market is concentrated with a few major players accounting for a significant share of the market. The market is characterized by intense competition and innovation. Major players are investing in research and development to launch new and improved products. The market is also subject to government regulations and standards, which impact the product design and manufacturing processes.

Asia Pacific Water Heater Market Trends

The Asia Pacific water heater market is witnessing several key trends, including:

  • The growing popularity of instant water heaters due to their convenience and energy efficiency.
  • The increasing adoption of water heaters with advanced features such as remote control, self-diagnosis, and leak detection.
  • The rising demand for water heaters in the commercial sector, particularly in hotels, restaurants, and hospitals.
  • The growing awareness about the benefits of water heaters for health and hygiene.

Asia Pacific Water Heater Market Growth

Key Region or Country & Segment to Dominate the Market

China is the largest market for water heaters in the Asia Pacific region, followed by India and Japan. The residential application segment is expected to account for the largest share of the market. The 400 liters capacity segment is expected to dominate the market.

Asia Pacific Water Heater Market Product Insights Report Coverage & Deliverables

The Asia Pacific water heater market report coverage includes:

  • Market size and forecast
  • Market segmentation by product type, capacity, application, and region
  • Market share analysis
  • Competitive landscape analysis
  • Growth drivers and challenges
  • Emerging trends
  • Key company profiles

Asia Pacific Water Heater Market Analysis

The Asia Pacific water heater market size is expected to grow from USD 11.25 Billion in 2023 to USD 18.78 Billion by 2032, at a CAGR of 6.6%. The market growth is attributed to the increasing urbanization, rising disposable income, and growing awareness about the benefits of water heaters. Government initiatives to promote energy efficiency and reduce carbon emissions are also driving the market growth.

Asia Pacific Water Heater Market Regional Insights

The Asia Pacific water heater market is segmented into the following regions:

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
  • Singapore
  • Thailand
  • Vietnam
  • Philippines
  • Sri Lanka

China is the largest market for water heaters in the Asia Pacific region, followed by India and Japan. The residential application segment is expected to account for the largest share of the market. The 400 liters capacity segment is expected to dominate the market.

Driving Forces: What's Propelling the Asia Pacific Water Heater Market

  • Increasing urbanization
  • Rising disposable income
  • Growing awareness about the benefits of water heaters
  • Government initiatives to promote energy efficiency and reduce carbon emissions

Challenges and Restraints in Asia Pacific Water Heater Market

  • High cost of water heaters
  • Lack of awareness about the benefits of water heaters in rural areas
  • Competition from other heating appliances

Emerging Trends in Asia Pacific Water Heater Market

  • The growing popularity of instant water heaters
  • The increasing adoption of water heaters with advanced features
  • The rising demand for water heaters in the commercial sector
  • The growing awareness about the benefits of water heaters for health and hygiene

Asia Pacific Water Heater Industry News

  • In June 2023, Rheem Manufacturing Company unveiled Triton Super and Light Duty water heaters. These commercial units feature up to 98% thermal efficiency and eliminate downtime by detecting & preventing water heater problems. The product also offers robust, flexible, and smarter solutions that are ideal for both construction & replacement applications. The innovation will thus fuel the company’s market presence.
  • In September 2022, Midea introduced its energy-efficient VD series of water heaters in India. The range was built with advanced technology and its features include a square-shaped compact design that complements bathroom/kitchen décor & easily fits into an existing space. With this launch, the company penetrated the Indian market and created a strong base in the market.

Leading Players in the Asia Pacific Water Heater Market

  • AQUAMAX AUSTRALIA PTY.
  • A. O. Smith
  • Ariston Holding N.V.
  • Bajaj Electricals Ltd
  • Bosch Industriekessel GmbH
  • Bradford White Corporation
  • FERROLI S.p.A
  • GE Appliances
  • Haier Inc
  • Havells India Ltd.
  • Hubbell Heaters
  • Jaquar India
  • LINUO RITTER INTERNATIONAL CO. LTD.
  • Racold
  • Rheem Manufacturing Company
  • Rinnai Corporation
  • State Industries
  • STIEBEL ELTRON GmbH & Co. KG
  • Viessmann Climate Solutions SE
  • Vaillant

Asia Pacific Water Heater Market Segmentation

  • 1. Product
    • 1.1. Instant
    • 1.2. Storage
  • 2. Capacity
    • 2.1. < 30 liters
    • 2.2. 30 – 100 liters
    • 2.3. 100 – 250 liters
    • 2.4. 250 – 400 liters
    • 2.5. >400 liters
  • 3. Application
    • 3.1. Residential
      • 3.1.1. Shower
      • 3.1.2. Dishwashing
      • 3.1.3. Washing Machine
      • 3.1.4. Others
    • 3.2. Commercial

Asia Pacific Water Heater Market Segmentation By Geography

  • 1. Asia Pacific
    • 1.1. China
    • 1.2. India
    • 1.3. Japan
    • 1.4. Australia
    • 1.5. South Korea
    • 1.6. Indonesia
    • 1.7. Malaysia
    • 1.8. Singapore
    • 1.9. Thailand
    • 1.10. Vietnam
    • 1.11. Philippines
    • 1.12. Sri Lanka

Asia Pacific Water Heater Market Regional Share

Asia Pacific Water Heater Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 6.6% from 2019-2033
Segmentation
    • By Product, 2021 – 2032 (USD Million & ‘000 Units)
      • Instant
      • Storage
    • By Capacity, 2021 – 2032 (USD Million & ‘000 Units)
      • < 30 liters
      • 30 – 100 liters
      • 100 – 250 liters
      • 250 – 400 liters
      • >400 liters
    • By Application, 2021 – 2032 (USD Million & ‘000 Units)
      • Residential
        • Shower
        • Dishwashing
        • Washing Machine
        • Others
      • Commercial
  • By Geography
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Indonesia
      • Malaysia
      • Singapore
      • Thailand
      • Vietnam
      • Philippines
      • Sri Lanka
Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Government mandates pertaining to greenhouse gas emissions
        • 3.2.2 Increasing demand for water heating systems
        • 3.2.3 Rapid urbanization & advancing product customization
      • 3.3. Market Restrains
        • 3.3.1. High upfront cost
      • 3.4. Market Trends
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Asia Pacific Water Heater Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Product, 2021 – 2032 (USD Million & ‘000 Units)
      • 5.1.1. Instant
      • 5.1.2. Storage
    • 5.2. Market Analysis, Insights and Forecast - by Capacity, 2021 – 2032 (USD Million & ‘000 Units)
      • 5.2.1. < 30 liters
      • 5.2.2. 30 – 100 liters
      • 5.2.3. 100 – 250 liters
      • 5.2.4. 250 – 400 liters
      • 5.2.5. >400 liters
    • 5.3. Market Analysis, Insights and Forecast - by Application, 2021 – 2032 (USD Million & ‘000 Units)
      • 5.3.1. Residential
        • 5.3.1.1. Shower
        • 5.3.1.2. Dishwashing
        • 5.3.1.3. Washing Machine
        • 5.3.1.4. Others
      • 5.3.2. Commercial
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. Asia Pacific
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 AQUAMAX AUSTRALIA PTY.
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 A. O. Smith
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Ariston Holding N.V.
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Bajaj Electricals Ltd
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Bosch Industriekessel GmbH
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Bradford White Corporation
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 FERROLI p.A
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 GE Appliances
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Haier Inc
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Havells India Ltd.
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 Hubbell Heaters
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 Jaquar India
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 LINUO RITTER INTERNATIONAL CO. LTD.
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 Racold
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 Rheem Manufacturing Company
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 Rinnai Corporation
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 State Industries
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)
        • 6.2.18 STIEBEL ELTRON GmbH & Co. KG (DE)
          • 6.2.18.1. Overview
          • 6.2.18.2. Products
          • 6.2.18.3. SWOT Analysis
          • 6.2.18.4. Recent Developments
          • 6.2.18.5. Financials (Based on Availability)
        • 6.2.19 Viessmann Climate Solutions SE
          • 6.2.19.1. Overview
          • 6.2.19.2. Products
          • 6.2.19.3. SWOT Analysis
          • 6.2.19.4. Recent Developments
          • 6.2.19.5. Financials (Based on Availability)
        • 6.2.20 Vaillant
          • 6.2.20.1. Overview
          • 6.2.20.2. Products
          • 6.2.20.3. SWOT Analysis
          • 6.2.20.4. Recent Developments
          • 6.2.20.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: Asia Pacific Water Heater Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
  2. Figure 2: Asia Pacific Water Heater Market Share (%) by Company 2024
List of Tables
  1. Table 1: Asia Pacific Water Heater Market Revenue Billion Forecast, by Region 2019 & 2032
  2. Table 2: Asia Pacific Water Heater Market Volume units Forecast, by Region 2019 & 2032
  3. Table 3: Asia Pacific Water Heater Market Revenue Billion Forecast, by Product, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  4. Table 4: Asia Pacific Water Heater Market Volume units Forecast, by Product, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  5. Table 5: Asia Pacific Water Heater Market Revenue Billion Forecast, by Capacity, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  6. Table 6: Asia Pacific Water Heater Market Volume units Forecast, by Capacity, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  7. Table 7: Asia Pacific Water Heater Market Revenue Billion Forecast, by Application, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  8. Table 8: Asia Pacific Water Heater Market Volume units Forecast, by Application, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  9. Table 9: Asia Pacific Water Heater Market Revenue Billion Forecast, by Region 2019 & 2032
  10. Table 10: Asia Pacific Water Heater Market Volume units Forecast, by Region 2019 & 2032
  11. Table 11: Asia Pacific Water Heater Market Revenue Billion Forecast, by Product, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  12. Table 12: Asia Pacific Water Heater Market Volume units Forecast, by Product, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  13. Table 13: Asia Pacific Water Heater Market Revenue Billion Forecast, by Capacity, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  14. Table 14: Asia Pacific Water Heater Market Volume units Forecast, by Capacity, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  15. Table 15: Asia Pacific Water Heater Market Revenue Billion Forecast, by Application, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  16. Table 16: Asia Pacific Water Heater Market Volume units Forecast, by Application, 2021 – 2032 (USD Million & ‘000 Units) 2019 & 2032
  17. Table 17: Asia Pacific Water Heater Market Revenue Billion Forecast, by Country 2019 & 2032
  18. Table 18: Asia Pacific Water Heater Market Volume units Forecast, by Country 2019 & 2032
  19. Table 19: China Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  20. Table 20: China Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  21. Table 21: India Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  22. Table 22: India Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  23. Table 23: Japan Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  24. Table 24: Japan Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  25. Table 25: Australia Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  26. Table 26: Australia Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  27. Table 27: South Korea Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  28. Table 28: South Korea Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  29. Table 29: Indonesia Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  30. Table 30: Indonesia Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  31. Table 31: Malaysia Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  32. Table 32: Malaysia Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  33. Table 33: Singapore Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  34. Table 34: Singapore Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  35. Table 35: Thailand Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  36. Table 36: Thailand Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  37. Table 37: Vietnam Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  38. Table 38: Vietnam Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  39. Table 39: Philippines Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  40. Table 40: Philippines Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
  41. Table 41: Sri Lanka Asia Pacific Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
  42. Table 42: Sri Lanka Asia Pacific Water Heater Market Volume (units) Forecast, by Application 2019 & 2032

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Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

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report thumbnailPaper Napkin Making Machine Market

Paper Napkin Making Machine Market Future-proof Strategies: Trends, Competitor Dynamics, and Opportunities 2025-2033

report thumbnailAsia Pacific Variable Speed Heat Pump Market

Asia Pacific Variable Speed Heat Pump Market Is Set To Reach 21.5 Billion By 2033, Growing At A CAGR Of 10.8

report thumbnailCommercial Air to Water Heat Pump Market

Commercial Air to Water Heat Pump Market Size, Share, and Growth Report: In-Depth Analysis and Forecast to 2033"

report thumbnailThermal Underfloor Heating Actuator Market

Thermal Underfloor Heating Actuator Market Strategic Insights for 2025 and Forecasts to 2033: Market Trends

report thumbnailGrinding Machine Market

Grinding Machine Market Analysis 2025 and Forecasts 2033: Unveiling Growth Opportunities

report thumbnailLaser Cutting Machines Market

Laser Cutting Machines Market Future-proof Strategies: Trends, Competitor Dynamics, and Opportunities 2025-2033

report thumbnailAngle grinder Market

Angle grinder Market Analysis 2025 and Forecasts 2033: Unveiling Growth Opportunities

report thumbnailIndustrial Air Filtration Market

Industrial Air Filtration Market 2025 Trends and Forecasts 2033: Analyzing Growth Opportunities

report thumbnailDiamond Wire Saw Market

Diamond Wire Saw Market 3.3 CAGR Growth Outlook 2025-2033

report thumbnailTube Ice Machine Market

Tube Ice Machine Market 2025-2033 Trends: Unveiling Growth Opportunities and Competitor Dynamics

report thumbnailPumpjacks Market

Pumpjacks Market Soars to 3.4 Billion, witnessing a CAGR of 5.7 during the forecast period 2025-2033

report thumbnailSubmerged Arc Furnaces Market

Submerged Arc Furnaces Market Navigating Dynamics Comprehensive Analysis and Forecasts 2025-2033

report thumbnailWalkie Stackers Market

Walkie Stackers Market Size, Share, and Growth Report: In-Depth Analysis and Forecast to 2033"