Global Water Heater Market Size, Share, Demand Report By Product Type (Storage Water Heaters, Tankless/Instant Water Heaters, Hybrid Water Heaters, Solar Water Heaters, Heat Pump Water Heaters), By Capacity (Below 30 Liters, 30–100 Liters, 100–250 Liters, Above 250 Liters), By Fuel Type (Electric, Gas, Solar, Hybrid), By End Use (Residential, Commercial, Industrial), By Distribution Channel (Online Retail, Specialty Stores, Plumbing & HVAC Wholesalers, Direct Sales), By Region & Segment Forecasts, 2025–2030

Report Code: RI1345PUB
Last Updated : November, 2025
Author : Abigail Foster

Table of Contents

  1. Executive Summary
    1. Introduction
  2. Market Introduction
    1. Market Definition
    2. Scope of the Study
    3. Market Structure
  3. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  4. Market Factor Analysis
    1. Value Chain Analysis: Water Heater Market
    2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
  6. Recent Trends Analysis
  7. Impact of COVID-19 on Water Heater Market
    1. Pre and Post Covid -19 Market Scenario Analysis
    2. Market Recovery Timeline and Challenge
    3. Measures Taken by Top Players
  8. Regulatory Landscape
  9. Water Heater Market, By Product Type
    1. Introduction
      1. Market Size and Forecast, By Product Type
    2. Storage Water Heaters
      1. Market Size and Forecast, By Region
    3. Tankless/Instant Water Heaters
      1. Market Size and Forecast, By Region
    4. Hybrid Water Heaters
      1. Market Size and Forecast, By Region
    5. Solar Water Heaters
      1. Market Size and Forecast, By Region
    6. Heat Pump Water Heaters
      1. Market Size and Forecast, By Region
  10. Water Heater Market, By Capacity
    1. Introduction
      1. Market Size and Forecast, By Capacity
    2. Below 30 Liters
      1. Market Size and Forecast, By Region
    3. 30–100 Liters
      1. Market Size and Forecast, By Region
    4. 100–250 Liters
      1. Market Size and Forecast, By Region
    5. Above 250 Liters
      1. Market Size and Forecast, By Region
  11. Water Heater Market, By Fuel Type
    1. Introduction
      1. Market Size and Forecast, By Fuel Type
    2. Electric
      1. Market Size and Forecast, By Region
    3. Gas
      1. Market Size and Forecast, By Region
    4. Solar
      1. Market Size and Forecast, By Region
    5. Hybrid (Electric + Heat Pump)
      1. Market Size and Forecast, By Region
  12. Water Heater Market, By End Use
    1. Introduction
      1. Market Size and Forecast, By End Use
    2. Residential
      1. Market Size and Forecast, By Region
    3. Commercial
      1. Market Size and Forecast, By Region
    4. Industrial
      1. Market Size and Forecast, By Region
  13. Water Heater Market, By Distribution Channel
    1. Introduction
      1. Market Size and Forecast, By Distribution Channel
    2. Online Retail
      1. Market Size and Forecast, By Region
    3. Specialty Stores
      1. Market Size and Forecast, By Region
    4. Plumbing & HVAC Wholesalers
      1. Market Size and Forecast, By Region
    5. Direct Sales
      1. Market Size and Forecast, By Region
  14. Regional Overview
    1. Introduction
      1. Market Size and Forecast
    2. North America
      1. Market Size and Forecast
        1. By Product Type
          1. Storage Water Heaters
            1. Tankless/Instant Water Heaters
              1. Hybrid Water Heaters
                1. Solar Water Heaters
                  1. Heat Pump Water Heaters
                  2. By Capacity
                    1. Below 30 Liters
                      1. 30–100 Liters
                        1. 100–250 Liters
                          1. Above 250 Liters
                          2. By Fuel Type
                            1. Electric
                              1. Gas
                                1. Solar
                                  1. Hybrid (Electric + Heat Pump)
                                  2. By End Use
                                    1. Residential
                                      1. Commercial
                                        1. Industrial
                                        2. By Distribution Channel
                                          1. Online Retail
                                            1. Specialty Stores
                                              1. Plumbing & HVAC Wholesalers
                                                1. Direct Sales
                                              2. U.S.
                                                1. By Product Type
                                                  1. Storage Water Heaters
                                                    1. Tankless/Instant Water Heaters
                                                      1. Hybrid Water Heaters
                                                        1. Solar Water Heaters
                                                          1. Heat Pump Water Heaters
                                                          2. By Capacity
                                                            1. Below 30 Liters
                                                              1. 30–100 Liters
                                                                1. 100–250 Liters
                                                                  1. Above 250 Liters
                                                                  2. By Fuel Type
                                                                    1. Electric
                                                                      1. Gas
                                                                        1. Solar
                                                                          1. Hybrid (Electric + Heat Pump)
                                                                          2. By End Use
                                                                            1. Residential
                                                                              1. Commercial
                                                                                1. Industrial
                                                                                2. By Distribution Channel
                                                                                  1. Online Retail
                                                                                    1. Specialty Stores
                                                                                      1. Plumbing & HVAC Wholesalers
                                                                                        1. Direct Sales
                                                                                      2. Canada
                                                                                    2. Europe
                                                                                      1. Market Size and Forecast
                                                                                        1. By Product Type
                                                                                          1. Storage Water Heaters
                                                                                            1. Tankless/Instant Water Heaters
                                                                                              1. Hybrid Water Heaters
                                                                                                1. Solar Water Heaters
                                                                                                  1. Heat Pump Water Heaters
                                                                                                  2. By Capacity
                                                                                                    1. Below 30 Liters
                                                                                                      1. 30–100 Liters
                                                                                                        1. 100–250 Liters
                                                                                                          1. Above 250 Liters
                                                                                                          2. By Fuel Type
                                                                                                            1. Electric
                                                                                                              1. Gas
                                                                                                                1. Solar
                                                                                                                  1. Hybrid (Electric + Heat Pump)
                                                                                                                  2. By End Use
                                                                                                                    1. Residential
                                                                                                                      1. Commercial
                                                                                                                        1. Industrial
                                                                                                                        2. By Distribution Channel
                                                                                                                          1. Online Retail
                                                                                                                            1. Specialty Stores
                                                                                                                              1. Plumbing & HVAC Wholesalers
                                                                                                                                1. Direct Sales
                                                                                                                              2. U.K.
                                                                                                                                1. By Product Type
                                                                                                                                  1. Storage Water Heaters
                                                                                                                                    1. Tankless/Instant Water Heaters
                                                                                                                                      1. Hybrid Water Heaters
                                                                                                                                        1. Solar Water Heaters
                                                                                                                                          1. Heat Pump Water Heaters
                                                                                                                                          2. By Capacity
                                                                                                                                            1. Below 30 Liters
                                                                                                                                              1. 30–100 Liters
                                                                                                                                                1. 100–250 Liters
                                                                                                                                                  1. Above 250 Liters
                                                                                                                                                  2. By Fuel Type
                                                                                                                                                    1. Electric
                                                                                                                                                      1. Gas
                                                                                                                                                        1. Solar
                                                                                                                                                          1. Hybrid (Electric + Heat Pump)
                                                                                                                                                          2. By End Use
                                                                                                                                                            1. Residential
                                                                                                                                                              1. Commercial
                                                                                                                                                                1. Industrial
                                                                                                                                                                2. By Distribution Channel
                                                                                                                                                                  1. Online Retail
                                                                                                                                                                    1. Specialty Stores
                                                                                                                                                                      1. Plumbing & HVAC Wholesalers
                                                                                                                                                                        1. Direct Sales
                                                                                                                                                                      2. Germany
                                                                                                                                                                      3. France
                                                                                                                                                                      4. Spain
                                                                                                                                                                      5. Italy
                                                                                                                                                                      6. Russia
                                                                                                                                                                      7. Nordic
                                                                                                                                                                      8. Benelux
                                                                                                                                                                      9. Rest of Europe
                                                                                                                                                                    2. APAC
                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                        1. By Product Type
                                                                                                                                                                          1. Storage Water Heaters
                                                                                                                                                                            1. Tankless/Instant Water Heaters
                                                                                                                                                                              1. Hybrid Water Heaters
                                                                                                                                                                                1. Solar Water Heaters
                                                                                                                                                                                  1. Heat Pump Water Heaters
                                                                                                                                                                                  2. By Capacity
                                                                                                                                                                                    1. Below 30 Liters
                                                                                                                                                                                      1. 30–100 Liters
                                                                                                                                                                                        1. 100–250 Liters
                                                                                                                                                                                          1. Above 250 Liters
                                                                                                                                                                                          2. By Fuel Type
                                                                                                                                                                                            1. Electric
                                                                                                                                                                                              1. Gas
                                                                                                                                                                                                1. Solar
                                                                                                                                                                                                  1. Hybrid (Electric + Heat Pump)
                                                                                                                                                                                                  2. By End Use
                                                                                                                                                                                                    1. Residential
                                                                                                                                                                                                      1. Commercial
                                                                                                                                                                                                        1. Industrial
                                                                                                                                                                                                        2. By Distribution Channel
                                                                                                                                                                                                          1. Online Retail
                                                                                                                                                                                                            1. Specialty Stores
                                                                                                                                                                                                              1. Plumbing & HVAC Wholesalers
                                                                                                                                                                                                                1. Direct Sales
                                                                                                                                                                                                              2. China
                                                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                                                  1. Storage Water Heaters
                                                                                                                                                                                                                    1. Tankless/Instant Water Heaters
                                                                                                                                                                                                                      1. Hybrid Water Heaters
                                                                                                                                                                                                                        1. Solar Water Heaters
                                                                                                                                                                                                                          1. Heat Pump Water Heaters
                                                                                                                                                                                                                          2. By Capacity
                                                                                                                                                                                                                            1. Below 30 Liters
                                                                                                                                                                                                                              1. 30–100 Liters
                                                                                                                                                                                                                                1. 100–250 Liters
                                                                                                                                                                                                                                  1. Above 250 Liters
                                                                                                                                                                                                                                  2. By Fuel Type
                                                                                                                                                                                                                                    1. Electric
                                                                                                                                                                                                                                      1. Gas
                                                                                                                                                                                                                                        1. Solar
                                                                                                                                                                                                                                          1. Hybrid (Electric + Heat Pump)
                                                                                                                                                                                                                                          2. By End Use
                                                                                                                                                                                                                                            1. Residential
                                                                                                                                                                                                                                              1. Commercial
                                                                                                                                                                                                                                                1. Industrial
                                                                                                                                                                                                                                                2. By Distribution Channel
                                                                                                                                                                                                                                                  1. Online Retail
                                                                                                                                                                                                                                                    1. Specialty Stores
                                                                                                                                                                                                                                                      1. Plumbing & HVAC Wholesalers
                                                                                                                                                                                                                                                        1. Direct Sales
                                                                                                                                                                                                                                                      2. Korea
                                                                                                                                                                                                                                                      3. Japan
                                                                                                                                                                                                                                                      4. India
                                                                                                                                                                                                                                                      5. Australia
                                                                                                                                                                                                                                                      6. Singapore
                                                                                                                                                                                                                                                      7. Taiwan
                                                                                                                                                                                                                                                      8. South East Asia
                                                                                                                                                                                                                                                      9. Rest of Asia-Pacific
                                                                                                                                                                                                                                                    2. Middle East and Africa
                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                        1. By Product Type
                                                                                                                                                                                                                                                          1. Storage Water Heaters
                                                                                                                                                                                                                                                            1. Tankless/Instant Water Heaters
                                                                                                                                                                                                                                                              1. Hybrid Water Heaters
                                                                                                                                                                                                                                                                1. Solar Water Heaters
                                                                                                                                                                                                                                                                  1. Heat Pump Water Heaters
                                                                                                                                                                                                                                                                  2. By Capacity
                                                                                                                                                                                                                                                                    1. Below 30 Liters
                                                                                                                                                                                                                                                                      1. 30–100 Liters
                                                                                                                                                                                                                                                                        1. 100–250 Liters
                                                                                                                                                                                                                                                                          1. Above 250 Liters
                                                                                                                                                                                                                                                                          2. By Fuel Type
                                                                                                                                                                                                                                                                            1. Electric
                                                                                                                                                                                                                                                                              1. Gas
                                                                                                                                                                                                                                                                                1. Solar
                                                                                                                                                                                                                                                                                  1. Hybrid (Electric + Heat Pump)
                                                                                                                                                                                                                                                                                  2. By End Use
                                                                                                                                                                                                                                                                                    1. Residential
                                                                                                                                                                                                                                                                                      1. Commercial
                                                                                                                                                                                                                                                                                        1. Industrial
                                                                                                                                                                                                                                                                                        2. By Distribution Channel
                                                                                                                                                                                                                                                                                          1. Online Retail
                                                                                                                                                                                                                                                                                            1. Specialty Stores
                                                                                                                                                                                                                                                                                              1. Plumbing & HVAC Wholesalers
                                                                                                                                                                                                                                                                                                1. Direct Sales
                                                                                                                                                                                                                                                                                              2. UAE
                                                                                                                                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                                                                                                                                  1. Storage Water Heaters
                                                                                                                                                                                                                                                                                                    1. Tankless/Instant Water Heaters
                                                                                                                                                                                                                                                                                                      1. Hybrid Water Heaters
                                                                                                                                                                                                                                                                                                        1. Solar Water Heaters
                                                                                                                                                                                                                                                                                                          1. Heat Pump Water Heaters
                                                                                                                                                                                                                                                                                                          2. By Capacity
                                                                                                                                                                                                                                                                                                            1. Below 30 Liters
                                                                                                                                                                                                                                                                                                              1. 30–100 Liters
                                                                                                                                                                                                                                                                                                                1. 100–250 Liters
                                                                                                                                                                                                                                                                                                                  1. Above 250 Liters
                                                                                                                                                                                                                                                                                                                  2. By Fuel Type
                                                                                                                                                                                                                                                                                                                    1. Electric
                                                                                                                                                                                                                                                                                                                      1. Gas
                                                                                                                                                                                                                                                                                                                        1. Solar
                                                                                                                                                                                                                                                                                                                          1. Hybrid (Electric + Heat Pump)
                                                                                                                                                                                                                                                                                                                          2. By End Use
                                                                                                                                                                                                                                                                                                                            1. Residential
                                                                                                                                                                                                                                                                                                                              1. Commercial
                                                                                                                                                                                                                                                                                                                                1. Industrial
                                                                                                                                                                                                                                                                                                                                2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                  1. Online Retail
                                                                                                                                                                                                                                                                                                                                    1. Specialty Stores
                                                                                                                                                                                                                                                                                                                                      1. Plumbing & HVAC Wholesalers
                                                                                                                                                                                                                                                                                                                                        1. Direct Sales
                                                                                                                                                                                                                                                                                                                                      2. Turky
                                                                                                                                                                                                                                                                                                                                      3. Saudi Arabia
                                                                                                                                                                                                                                                                                                                                      4. South Africa
                                                                                                                                                                                                                                                                                                                                      5. Egypt
                                                                                                                                                                                                                                                                                                                                      6. Nigeria
                                                                                                                                                                                                                                                                                                                                      7. Rest of MEA
                                                                                                                                                                                                                                                                                                                                    2. LATAM
                                                                                                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                                                                                                        1. By Product Type
                                                                                                                                                                                                                                                                                                                                          1. Storage Water Heaters
                                                                                                                                                                                                                                                                                                                                            1. Tankless/Instant Water Heaters
                                                                                                                                                                                                                                                                                                                                              1. Hybrid Water Heaters
                                                                                                                                                                                                                                                                                                                                                1. Solar Water Heaters
                                                                                                                                                                                                                                                                                                                                                  1. Heat Pump Water Heaters
                                                                                                                                                                                                                                                                                                                                                  2. By Capacity
                                                                                                                                                                                                                                                                                                                                                    1. Below 30 Liters
                                                                                                                                                                                                                                                                                                                                                      1. 30–100 Liters
                                                                                                                                                                                                                                                                                                                                                        1. 100–250 Liters
                                                                                                                                                                                                                                                                                                                                                          1. Above 250 Liters
                                                                                                                                                                                                                                                                                                                                                          2. By Fuel Type
                                                                                                                                                                                                                                                                                                                                                            1. Electric
                                                                                                                                                                                                                                                                                                                                                              1. Gas
                                                                                                                                                                                                                                                                                                                                                                1. Solar
                                                                                                                                                                                                                                                                                                                                                                  1. Hybrid (Electric + Heat Pump)
                                                                                                                                                                                                                                                                                                                                                                  2. By End Use
                                                                                                                                                                                                                                                                                                                                                                    1. Residential
                                                                                                                                                                                                                                                                                                                                                                      1. Commercial
                                                                                                                                                                                                                                                                                                                                                                        1. Industrial
                                                                                                                                                                                                                                                                                                                                                                        2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                                          1. Online Retail
                                                                                                                                                                                                                                                                                                                                                                            1. Specialty Stores
                                                                                                                                                                                                                                                                                                                                                                              1. Plumbing & HVAC Wholesalers
                                                                                                                                                                                                                                                                                                                                                                                1. Direct Sales
                                                                                                                                                                                                                                                                                                                                                                              2. Brazil
                                                                                                                                                                                                                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                                                                                                                                                                                                                  1. Storage Water Heaters
                                                                                                                                                                                                                                                                                                                                                                                    1. Tankless/Instant Water Heaters
                                                                                                                                                                                                                                                                                                                                                                                      1. Hybrid Water Heaters
                                                                                                                                                                                                                                                                                                                                                                                        1. Solar Water Heaters
                                                                                                                                                                                                                                                                                                                                                                                          1. Heat Pump Water Heaters
                                                                                                                                                                                                                                                                                                                                                                                          2. By Capacity
                                                                                                                                                                                                                                                                                                                                                                                            1. Below 30 Liters
                                                                                                                                                                                                                                                                                                                                                                                              1. 30–100 Liters
                                                                                                                                                                                                                                                                                                                                                                                                1. 100–250 Liters
                                                                                                                                                                                                                                                                                                                                                                                                  1. Above 250 Liters
                                                                                                                                                                                                                                                                                                                                                                                                  2. By Fuel Type
                                                                                                                                                                                                                                                                                                                                                                                                    1. Electric
                                                                                                                                                                                                                                                                                                                                                                                                      1. Gas
                                                                                                                                                                                                                                                                                                                                                                                                        1. Solar
                                                                                                                                                                                                                                                                                                                                                                                                          1. Hybrid (Electric + Heat Pump)
                                                                                                                                                                                                                                                                                                                                                                                                          2. By End Use
                                                                                                                                                                                                                                                                                                                                                                                                            1. Residential
                                                                                                                                                                                                                                                                                                                                                                                                              1. Commercial
                                                                                                                                                                                                                                                                                                                                                                                                                1. Industrial
                                                                                                                                                                                                                                                                                                                                                                                                                2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                                                                                  1. Online Retail
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Specialty Stores
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Plumbing & HVAC Wholesalers
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Direct Sales
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Mexico
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Argentina
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Chile
                                                                                                                                                                                                                                                                                                                                                                                                                      5. Colombia
                                                                                                                                                                                                                                                                                                                                                                                                                      6. Rest of LATAM
                                                                                                                                                                                                                                                                                                                                                                                                                  2. Competitive Landscape, 2024
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Introduction
                                                                                                                                                                                                                                                                                                                                                                                                                    2. Water Heater Market Share Analysis, 2024 (%)
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Market Share Analysis, 2024
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Competition Ranking, 2024
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Key Developments & Growth Strategies
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Merger & Acquisition
                                                                                                                                                                                                                                                                                                                                                                                                                        2. Product Launch
                                                                                                                                                                                                                                                                                                                                                                                                                        3. Expansion
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Consolidated SWOT Analysis of Key Players
                                                                                                                                                                                                                                                                                                                                                                                                                  3. Company Profile
                                                                                                                                                                                                                                                                                                                                                                                                                    1. A. O. Smith Corporation
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Business Overview
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Financial Data
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Key Product domains
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Recent Developments
                                                                                                                                                                                                                                                                                                                                                                                                                    2. Rheem Manufacturing Company
                                                                                                                                                                                                                                                                                                                                                                                                                    3. Ariston Holding N.V.
                                                                                                                                                                                                                                                                                                                                                                                                                    4. Rinnai Corporation
                                                                                                                                                                                                                                                                                                                                                                                                                    5. Bradford White Corporation
                                                                                                                                                                                                                                                                                                                                                                                                                    6. Haier Group Corporation
                                                                                                                                                                                                                                                                                                                                                                                                                    7. Whirlpool Corporation
                                                                                                                                                                                                                                                                                                                                                                                                                    8. Daikin Industries, Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                    9. Stiebel Eltron GmbH & Co. KG
                                                                                                                                                                                                                                                                                                                                                                                                                    10. Havells India Ltd.