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Asia Pacific Water Heater Market

Asia Pacific Water Heater Market

Asia-Pacific water Heater Market - By Type (Electric, Solar, Gas); By Technology (Tankless, Storage, Hybrid); By Capacity (Below 30 Liters, 30–100 Liters, 100–250 Liters, 250–400 Liters, Above 400 Liters); By Application (Residential, Commercial); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of APAC); Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: January 2023
  • Report ID: BWC23049
  • Available Format: PDF
  • Page: 119

Report Overview

Asia-Pacific water heater market is flourishing at a high rate owing to the increasing disposable income of the middle-income group consumers along with technological advancements in water heaters and increasing product launches.

Asia-Pacific water Heater Market – Industry Trends & Forecast Report, 2029

Asia-Pacific water heater market size was estimated at USD 9.6 billion in 2022. During the forecast period between 2023 and 2029, Asia-Pacific water heater market size is projected to grow at a CAGR of 5.5% reaching a value of USD 13.8 billion by 2029. The market is flourishing owing to the increasing disposable income of the middle-income group consumers along with technological advancements in water heaters. Water heaters these days are equipped with IoT sensors that can be remotely controlled with smartphones. Furthermore, increasing product launches in the Asia Pacific market are also providing favorable growth opportunities to the overall market.

Asia-Pacific Water Heater Market

Asia-Pacific water Heater Market – Overview

Water heaters are devices that heat water and maintain it at a higher temperature for a prolonged period. They serve the crucial goal of providing a consistent and ongoing supply of water. They can be powered by electricity or gas, with gas water heaters offering quicker heating and electric variants often costing less. Hot water heaters used in homes that warm potable water for uses other than space heating are referred to as domestic hot water heaters (DHW). Tankless water heaters are one of the more recent technologies. Since they are electric, no water storage system is needed.

Asia-Pacific water Heater Market

Growth Drivers

Increasing Product Launches with Attractive and Advanced Features

With the growing demand for water heaters in the Asia-Pacific region, companies are increasingly launching a wide range of products of different price ranges, shapes, and technologies. Xiaomi, for instance, recently launched the MIJIA Smart Kitchen Treasure 7L S1, a water storage electric water heater, in China, with a dense polyurethane insulation layer that prevents water leakage. The water heater brands are also adding advanced technologies such as IoT sensors, remote control through mobile apps, Wi-Fi connect, and Eco Function, to gain a competitive edge. These launches are expected to provide lucrative growth opportunities to the Asia-Pacific water heater market during the forecast period.

Restraints

High Upfront Costs

There are various low-cost water heaters available in the market to attract middle-income group consumers. However, the high upfront cost of installation of these water heaters may act as a huge restraining factor for the market growth. The installation of water heaters is a labor-intensive task, and the cost of a plumber may range between USD 40 and USD 200 per hour. This is because gas and water lines are required for installation. Furthermore, new electric wiring must be done to use electric tankless heaters. It may limit its adoption in non-urban regions that are highly dependent on traditional water heating methods. It may restrict the growth of Asia-Pacific water heater market.

Impact of COVID-19 on Asia-Pacific water Heater Market

Asia-Pacific water heater market registered significant losses post the COVID-19 pandemic outbreak in 2020. The production and supply chain for water heaters were completely halted, due to which manufacturers had to endure huge losses during this period. The reduced purchasing power of the consumers along with low demand for water heaters from commercial facilities such as hotels. However, the demand for water heaters spiked from the healthcare facilities to mitigate the risk of healthcare-associated infections during the virus spread. The market is anticipated to get back on its track as the companies are launching affordable and low-priced water heaters.

Asia-Pacific water Heater Market

Segmental Coverage

Asia-Pacific water Heater Market – By Type

Based on type, Asia-Pacific water heater market is segregated into electric, solar, and gas segments. The electric water heater held the highest market share in 2022 and is projected to register growth at the fastest CAGR during the forecast period as well. The demand for the electric water heater is fueled by their easy accessibility, as they are simple to use as well as easy to install and no ventilation or maintenance is required. It is also an energy and cost-efficient alternative to hot water. As a result, various brands are increasingly launching electric water heater ranges with new features, which is significantly propelling the growth of the market.

Asia-Pacific water Heater Market – By Technology

Based on technology, Asia-Pacific water heater market is segmented into tankless, storage, and hybrid. The storage technology segment accounts for the highest market share. This technology is highly popular because of the benefits it offers over its counterparts such as it is inexpensive, technologically advanced, and easy to install. It also saves energy as these water heaters are equipped with an internal tank that can hold hot water for extended periods. However, tankless technology also enjoys popularity in certain regions owing to its sustainability and energy efficiency.

Asia-Pacific water Heater Market – By Capacity

Based on capacity, the Asia-Pacific water heater market is segmented into below 30 liters, 30–100 liters, 100–250 liters, 250–400 liters, and above 400 liters. The 30–100 liters capacity segment holds the highest market share owing to the high demand in both residential as well as commercial applications. This capacity of water heaters is suitable to be used at homes as well as at commercial spaces including hotels, healthcare, and shopping complexes. However, the below 30 liters capacity water heaters are also expected to record significant growth during the forecast period.

Asia-Pacific water Heater Market – By Application

Based on application, Asia-Pacific water heater market is segmented into residential and commercial. The residential segment accounts for a higher market share owing to the increasing disposable income of the consumers along with substantial growth in the demand for heating appliances in single and multifamily apartments. Increasing utility costs especially in urban regions are also propelling the demand for energy-efficient appliances, propelling the overall Asia-Pacific water heater market growth. The commercial segment is also expected to register substantial growth during the forecast period.

Asia-Pacific water Heater Market – By Region

Geographically, Asia-Pacific water heater market covers the following major regions: China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, and the rest of APAC. China dominates the Asia-Pacific water heater market owing to its high population and availability of affordable water heaters. Following China, Japan also covers a substantial share of the market owing to the high popularity of tankless water heaters as they are used for Ofuro (a hot tub for one person. India and South Korea are expected to register the highest CAGR during the forecast period owing to rising demand for sustainable heating solutions.

Competitive Landscape

Major players operating in Asia-Pacific water heater market include Rinnai Corporation, Bradford White Corporation, Ariston Holding N.V., Haier, Whirlpool Corporation, State Industries, Racold, FERROLI S.p.A, Hubbell heaters, LINUO RITTER INTERNATIONAL CO. LTD., Jaquar India, GE Appliances, Viessmann, STIEBEL ELTRON GmbH & Co. KG, Havells India Ltd., Bajaj Electricals Limited, AQUA MAX AUSTRALIA PTY. LIMITED, Deka Fan Malaysia, and Joven Electric Corporation.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In September 2022 - Midea, a China-based electrical appliance manufacturer, launched its new energy-efficient water heater ranges in India.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Product/ Service Segmentation

Type, Technology, Capacity, Application, Country

Key Players

Rinnai Corporation, Bradford White Corporation, Ariston Holding N.V., Haier, Whirlpool Corporation, State Industries, Racold, FERROLI S.p.A, Hubbell heaters, LINUO RITTER INTERNATIONAL CO. LTD., Jaquar India, GE Appliances, Viessmann, STIEBEL ELTRON GmbH & Co. KG, Havells India Ltd., Bajaj Electricals Limited, AQUAMAX AUSTRALIA PTY. LIMITED, Deka Fan Malaysia, Joven Electric Corporation

 

By Type

  • Electric

  • Solar

  • Gas

By Technology

  • Tankless

  • Storage

  • Hybrid

By Capacity

  • Below 30 Liters

  • 30–100 Liters

  • 100–250 Liters

  • 250–400 Liters

  • Above 400 Liters

By Application

  • Residential

  • Commercial

  • Industrial

By Country

  • China

  • India

  • Japan

  • South Korea

  • Australia & New Zealand

  • Indonesia

  • Malaysia

  • Singapore

  • Philippines

  • Vietnam

  • Rest of APAC

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Asia-Pacific Water Heater Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing Product Customization and Rapid Urbanization
        2. Rising Demand for Water Heating Systems
        3. Government Requirements for Reducing Emissions of Greenhouse Gases
      2. Restraints
        1. Costly Products
      3. Opportunities
        1. Technology Advancements
        2. Rise in Energy Efficiency Concerns
      4. Challenges
        1. Growing Fire Accidents
    3. Technology Advancement/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Asia-Pacific Water Heater Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
        1. Electric
        2. Solar
        3. Gas
      2. By Technology
        1. Tankless
        2. Storage
        3. Hybrid
      3. By Capacity
        1. Below 30 Liters
        2. 30–100 Liters
        3. 100–250 Liters
        4. 250–400 Liters
        5. Above 400 Liters
      4. By Application
        1. Residential
        2. Commercial
        3. Industrial
      5. By Country
        1. China
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        2. India
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        3. Japan
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        4. South Korea
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        5. Australia & New Zealand
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        6. Indonesia
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        7. Malaysia
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        8. Singapore
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        9. Philippines
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        10. Vietnam
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
        11. Rest of APAC
          1. By Type
          2. By Technology
          3. By Capacity
          4. By Application
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Asia-Pacific Water Heater Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid-19 on Asia-Pacific Water Heater Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Rinnai Corporation
    2. Bradford White Corporation
    3. Ariston Holding N.V.
    4. Haier
    5. Whirlpool Corporation
    6. State Industries
    7. Racold
    8. FERROLI S.p.A
    9. Hubbell Heaters
    10. LINUO RITTER INTERNATIONAL CO. LTD.
    11. Jaquar India
    12. GE Appliances
    13. Viessmann
    14. STIEBEL ELTRON GmbH & Co. KG,
    15. Havells India Ltd.
    16. Bajaj Electricals Limited
    17. AQUAMAX AUSTRALIA PTY. LIMITED
    18. Deka Fan Malaysia
    19. Joven Electric Corporation
    20. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1.       Qualitative Research
      1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Region
    5.       Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1      Asia-Pacific Water Heater Segmentation         

Figure 2      Asia-Pacific Water Heater Market Value Chain Analysis              

Figure 3      Company Market Share Analysis, 2022            

Figure 4      Asia-Pacific Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 5      Asia-Pacific Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 6      Asia-Pacific Water Heater Market Share, By Technology, By Value, 2019–2029         

Figure 7      Asia-Pacific Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 8      Asia-Pacific Water Heater Market Share, By Application, By Value, 2019–2029         

Figure 9      Asia-Pacific Water Heater Market Share, By Country, By Value, 2019–2029                  

Figure 10   China Water Heater Market Size, By Value (USD Million), 2019–2029            

Figure 11   China Water Heater Market Share, By Service Type, By Value, 2019–2029                  

Figure 12   China Water Heater Market Share, By Technology, By Value, 2019–2029                  

Figure 13   China Water Heater Market Share, By Capacity, By Value, 2019–2029           

Figure 14   China Water Heater Market Share, By Application, By Value, 2019–2029                  

Figure 15   India Water Heater Market Size, By Value (USD Million), 2019–2029            

Figure 16   India Water Heater Market Share, By Service Type, By Value, 2019–2029                  

Figure 17   India Water Heater Market Share, By Technology, By Value, 2019–2029                  

Figure 18   India Water Heater Market Share, By Capacity, By Value, 2019–2029           

Figure 19   India Water Heater Market Share, By Application, By Value, 2019–2029                  

Figure 20   Japan Water Heater Market Size, By Value (USD Million), 2019–2029           

Figure 21   Japan Water Heater Market Share, By Service Type, By Value, 2019–2029                  

Figure 22   Japan Water Heater Market Share, By Technology, By Value, 2019–2029                  

Figure 23   Japan Water Heater Market Share, By Capacity, By Value, 2019–2029           

Figure 24   Japan Water Heater Market Share, By Application, By Value, 2019–2029                  

Figure 25   South Korea Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 26   South Korea Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 27   South Korea Water Heater Market Share, By Technology, By Value, 2019–2029         

Figure 28   South Korea Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 29   South Korea Water Heater Market Share, By Application, By Value, 2019–2029         

Figure 30   Australia & New Zealand Water Heater Market Size, By Value (USD Million), 2019–2029         

Figure 31   Australia & New Zealand Water Heater Market Share, By Service Type, By Value, 2019–2029                

Figure 32   Australia & New Zealand Water Heater Market Share, By Technology, By Value, 2019–2029                

Figure 33   Australia & New Zealand Water Heater Market Share, By Capacity, By Value, 2019–2029                

Figure 34   Australia & New Zealand Water Heater Market Share, By Application, By Value, 2019–2029                

Figure 35   Indonesia Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 36   Indonesia Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 37   Indonesia Water Heater Market Share, By Technology, By Value, 2019–2029         

Figure 38   Indonesia Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 39   Indonesia Water Heater Market Share, By Application, By Value, 2019–2029         

Figure 40   Malaysia Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 41   Malaysia Water Heater Market Share, By Service Type, By Value, 2019–2029          

Figure 42   Malaysia Water Heater Market Share, By Technology, By Value, 2019–2029                  

Figure 43   Malaysia Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 44   Malaysia Water Heater Market Share, By Application, By Value, 2019–2029                  

Figure 45   Singapore Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 46   Singapore Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 47   Singapore Water Heater Market Share, By Technology, By Value, 2019–2029         

Figure 48   Singapore Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 49   Singapore Water Heater Market Share, By Application, By Value, 2019–2029         

Figure 50   Philippines Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 51   Philippines Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 52   Philippines Water Heater Market Share, By Technology, By Value, 2019–2029         

Figure 53   Philippines Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 54   Philippines Water Heater Market Share, By Application, By Value, 2019–2029         

Figure 55   Vietnam Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 56   Vietnam Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 57   Vietnam Water Heater Market Share, By Technology, By Value, 2019–2029                  

Figure 58   Vietnam Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Figure 59   Vietnam Water Heater Market Share, By Application, By Value, 2019–2029                  

Figure 60   Rest of APAC Water Heater Market Size, By Value (USD Million), 2019–2029                  

Figure 61   Rest of APAC Water Heater Market Share, By Service Type, By Value, 2019–2029         

Figure 62   Rest of APAC Water Heater Market Share, By Technology, By Value, 2019–2029         

Figure 63   Rest of APAC Water Heater Market Share, By Capacity, By Value, 2019–2029         

Figure 64   Rest of APAC Water Heater Market Share, By Application, By Value, 2019–2029         

 

List of Tables

 

Table 1       Asia-Pacific Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 2       Asia-Pacific Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 3       Asia-Pacific Water Heater Market Share, By Technology, By Value, 2019–2029         

Table 4       Asia-Pacific Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 5       Asia-Pacific Water Heater Market Share, By Application, By Value, 2019–2029         

Table 6       Asia-Pacific Water Heater Market Share, By Country, By Value, 2019–2029                  

Table 7       China Water Heater Market Size, By Value (USD Million), 2019–2029            

Table 8       China Water Heater Market Share, By Service Type, By Value, 2019–2029                  

Table 9       China Water Heater Market Share, By Technology, By Value, 2019–2029                  

Table 10     China Water Heater Market Share, By Capacity, By Value, 2019–2029           

Table 11     China Water Heater Market Share, By Application, By Value, 2019–2029                  

Table 12     India Water Heater Market Size, By Value (USD Million), 2019–2029            

Table 13     India Water Heater Market Share, By Service Type, By Value, 2019–2029                  

Table 14     India Water Heater Market Share, By Technology, By Value, 2019–2029                  

Table 15     India Water Heater Market Share, By Capacity, By Value, 2019–2029           

Table 16     India Water Heater Market Share, By Application, By Value, 2019–2029                  

Table 17     Japan Water Heater Market Size, By Value (USD Million), 2019–2029           

Table 18     Japan Water Heater Market Share, By Service Type, By Value, 2019–2029                  

Table 19     Japan Water Heater Market Share, By Technology, By Value, 2019–2029                  

Table 20     Japan Water Heater Market Share, By Capacity, By Value, 2019–2029           

Table 21     Japan Water Heater Market Share, By Application, By Value, 2019–2029                  

Table 22     South Korea Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 23     South Korea Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 24     South Korea Water Heater Market Share, By Technology, By Value, 2019–2029         

Table 25     South Korea Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 26     South Korea Water Heater Market Share, By Application, By Value, 2019–2029         

Table 27     Australia & New Zealand Water Heater Market Size, By Value (USD Million), 2019–2029         

Table 28     Australia & New Zealand Water Heater Market Share, By Service Type, By Value, 2019–2029                

Table 29     Australia & New Zealand Water Heater Market Share, By Technology, By Value, 2019–2029                

Table 30     Australia & New Zealand Water Heater Market Share, By Capacity, By Value, 2019–2029                

Table 31     Australia & New Zealand Water Heater Market Share, By Application, By Value, 2019–2029                

Table 32     Indonesia Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 33     Indonesia Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 34     Indonesia Water Heater Market Share, By Technology, By Value, 2019–2029         

Table 35     Indonesia Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 36     Indonesia Water Heater Market Share, By Application, By Value, 2019–2029         

Table 37     Malaysia Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 38     Malaysia Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 39     Malaysia Water Heater Market Share, By Technology, By Value, 2019–2029                  

Table 40     Malaysia Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 41     Malaysia Water Heater Market Share, By Application, By Value, 2019–2029                  

Table 42     Singapore Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 43     Singapore Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 44     Singapore Water Heater Market Share, By Technology, By Value, 2019–2029         

Table 45     Singapore Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 46     Singapore Water Heater Market Share, By Application, By Value, 2019–2029         

Table 47     Philippines Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 48     Philippines Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 49     Philippines Water Heater Market Share, By Technology, By Value, 2019–2029         

Table 50     Philippines Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 51     Philippines Water Heater Market Share, By Application, By Value, 2019–2029         

Table 52     Vietnam Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 53     Vietnam Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 54     Vietnam Water Heater Market Share, By Technology, By Value, 2019–2029                  

Table 55     Vietnam Water Heater Market Share, By Capacity, By Value, 2019–2029                  

Table 56     Vietnam Water Heater Market Share, By Application, By Value, 2019–2029                  

Table 57     Rest of APAC Water Heater Market Size, By Value (USD Million), 2019–2029                  

Table 58     Rest of APAC Water Heater Market Share, By Service Type, By Value, 2019–2029         

Table 59     Rest of APAC Water Heater Market Share, By Technology, By Value, 2019–2029         

Table 60     Rest of APAC Water Heater Market Share, By Capacity, By Value, 2019–2029         

Table 61     Rest of APAC Water Heater Market Share, By Application, By Value, 2019–2029         

Table 62     Rinnai Corporation Company Overview           

Table 63     Rinnai Corporation Financial Overview            

Table 64     Bradford White Corporation Company Overview                

Table 65     Bradford White Corporation Financial Overview                 

Table 66     Ariston Holding N.V. Company Overview         

Table 67     Ariston Holding N.V. Financial Overview          

Table 68     Haier, Whirlpool Corporation Company Overview              

Table 69     Haier, Whirlpool Corporation Financial Overview               

Table 70     State Industries Company Overview                

Table 71     State Industries Financial Overview                

Table 72     Racold Company Overview            

Table 73     Racold Financial Overview             

Table 74     FERROLI S.p.A Company Overview         

Table 75     FERROLI S.p.A Financial Overview         

Table 76     Hubbell Heaters Company Overview                

Table 77     Hubbell Heaters Financial Overview                

Table 78     LINUO RITTER INTERNATIONAL CO. LTD. Company Overview             

Table 79     LINUO RITTER INTERNATIONAL CO. LTD. Financial Overview             

Table 80     Jaquar India Company Overview            

Table 81     Jaquar India Financial Overview             

Table 82     GE Appliances Company Overview          

Table 83     GE Appliances Financial Overview          

Table 84     Viessmann Company Overview               

Table 85     Viessmann Financial Overview               

Table 86     STIEBEL ELTRON GmbH & Co. KG, Company Overview                

Table 87     STIEBEL ELTRON GmbH & Co. KG, Financial Overview                

Table 88     Havells India Ltd. Company Overview             

Table 89     Havells India Ltd. Financial Overview              

Table 90     Bajaj Electricals Limited Company Overview            

Table 91     Bajaj Electricals Limited Financial Overview             

Table 92     AQUAMAX AUSTRALIA PTY. LIMITED Company Overview           

Table 93     AQUAMAX AUSTRALIA PTY. LIMITED Financial Overview           

Table 94     Deka Fan Malaysia Company Overview            

Table 95     Deka Fan Malaysia Financial Overview            

Table 96     Joven Electric Corporation Company Overview         

Table 97     Joven Electric Corporation Financial Overview         

 

 

Market Segmentation

By Type

  • Electric

  • Solar

  • Gas

By Technology

  • Tankless

  • Storage

  • Hybrid

By Capacity

  • Below 30 Liters

  • 30–100 Liters

  • 100–250 Liters

  • 250–400 Liters

  • Above 400 Liters

By Application

  • Residential

  • Commercial

  • Industrial

By Country

  • China

  • India

  • Japan

  • South Korea

  • Australia & New Zealand

  • Indonesia

  • Malaysia

  • Singapore

  • Philippines

  • Vietnam

  • Rest of APAC

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Frequently Asked Questions (FAQs):

Ans: China is expected to grow at the fastest rate in Asia-Pacific Water Heater Market during the forecast period.
Ans: Major factors driving the growth of Asia-Pacific Water Heater Market include increasing product customization and rapid urbanization and rising demand for water heating systems.
Ans: Asia-Pacific Water Heater Market size was estimated at USD 9.6 billion in 2022.
Ans: The residential segment held the highest Market share in the Asia-Pacific Water Heater Market by application.
Ans: Key players in Asia-Pacific water heater Market include Rinnai Corporation, Bradford White Corporation, Ariston Holding N.V., Haier, Whirlpool Corporation, State Industries, Racold, FERROLI S.p.A, Hubbell heaters, LINUO RITTER INTERNATIONAL CO. LTD., Jaquar India, GE Appliances, Viessmann, STIEBEL ELTRON GmbH & Co. KG, Havells India Ltd., Bajaj Electricals Limited, AQUAMAX AUSTRALIA PTY. LIMITED, Deka Fan Malaysia, and Joven Electric Corporation.