Press release
Leading Companies Enhancing Their Presence in the Water Heaters Market
Water Heaters Market
Projected Market Size and Growth Trajectory of the Water Heaters Market
The water heaters market is set to experience robust growth, reaching a valuation of $97.53 billion by 2030. This expansion will occur at a compound annual growth rate (CAGR) of 7.9%. Several factors contribute to this optimistic outlook, including a growing inclination toward renewable heating technologies, widespread adoption of smart connected heaters, and a strong focus on energy conservation and emission reductions. Additionally, the rise of e-commerce as a primary distribution channel and increasing demand from commercial and industrial sectors are playing crucial roles. Key trends expected to influence the market include a rising preference for energy-efficient water heating solutions, growing popularity of tankless and on-demand systems, the adoption of smart water heaters with remote monitoring capabilities, the growth of solar and geothermal heating installations, and demand for compact, space-saving designs.
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Emerging Key Players Driving Innovation in the Water Heaters Market
The water heaters industry features a diverse set of players from various parts of the globe. Some of the prominent companies include A. O. Smith Corporation, RinnAI Corporation, Vaillant Group, Ariston Thermo Group, Rheem Manufacturing Company, Viessmann Group, Haier Smart Home Co., Ltd., Bradford White Corporation, Robert Bosch GmbH, Bajaj Electricals Ltd, Crompton Greaves Consumer Electricals Ltd., Havells India Ltd., Taian Haoli Solar Energy Technology Co., Ltd., AquaWorld Group Co., Ltd., Changzhou XNE Technology Co., Ltd., Guangdong PHNIX Eco-Energy Solution Ltd., Siemens AG, Stiebel Eltron International GmbH, Telford Copper & Stainless Cylinders, Hamworthy Heating, Sun Ray, PBS Power Equipment, Enerstena Group, Petrojet Trade s.r.o., Druzstevni zavody Drazice company, Noritz Corporation, General Electric (GE), ATMOR, Kyungdong Navien Co.,Ltd., Whirlpool Corporation, Apen Group, State Industries, American Water Heaters, EcoSmart US, ABRAVA-DASOL, Aquecedor Solar Transsen Ltda., Br Solar, IEM - Intercambio Eletro Mecanico Ltda., Dana Water Heaters and Coolers Factory LLC, Al Khatib Electrical Water Heater Factory, Pure Blue International LLC, Solar Ray, Genersys South Africa, GoSolar CC, ITS Solar, and Kwikot (Pty) Ltd.
Strengthening Sustainable Solutions Through Strategic Acquisitions
In January 2024, Carrier Global Corporation, a US-based HVAC system manufacturer, expanded its portfolio by acquiring Viessmann Climate Solutions. Although the financial details remain undisclosed, this move highlights Carrier's commitment to advancing sustainable climate technologies amid increasing global interest in renewable energy and energy transition. Viessmann Climate Solutions, headquartered in Germany, is known for its heating and refrigeration systems, including water heaters, making this acquisition a strategic fit.
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Technological Advancements Defining the Water Heaters Market
Leading companies in the water heaters sector are focusing on introducing innovative technologies to boost efficiency and user experience. One notable advancement is the adoption of advanced thermocline technology, which optimizes temperature layering within water tanks to deliver more usable hot water while minimizing energy waste. For example, in June 2025, India-based V-Guard Industries Ltd. unveiled its Luxecube water heater series. This line combines elegant design with smart features, including the patented Advanced Thermocline Technology that maintains a sharper hot-water boundary, delivering approximately 38% more usable hot water. The product also supports IoT connectivity via the V-Guard Smart app with voice control for Amazon Alexa and Google Home, offers ambient Luxe Glow Pro LED mood lighting, real-time energy monitoring, holiday mode, and safety functions such as child lock and self-diagnostics. It is designed for high-rise pressure tolerance (0.8 MPa) and enhanced durability, featuring a titanium-infused tank and Incoloy 800 heating element.
Overview of Market Segmentation in the Water Heaters Industry
This report categorizes the water heaters market into several key segments:
1) Product Type:
- Solar Heaters
- Electric Heaters
- Gas and Propane Heaters
- Geothermal Heaters
2) Distribution Channel:
- Supermarket/Hypermarket
- Specialty Stores
- E-Commerce
- Other Distribution Channels
3) End User:
- Residential
- Commercial
- Industrial
Further subsegments include:
- Solar Heaters: Active Solar Water Heating Systems, Passive Solar Water Heating Systems, Solar Pool Heaters
- Electric Heaters: Tank Electric Water Heaters, Tankless Electric Water Heaters, Heat Pump Water Heaters
- Gas and Propane Heaters: Tank Gas Water Heaters, Tankless Gas Water Heaters, Condensing Gas Water Heaters
- Geothermal Heaters: Ground Source Heat Pumps, Water Source Heat Pumps, Direct Exchange Systems
This detailed breakdown provides insights into the wide variety of products, customer bases, and sales channels shaping the water heaters market landscape.
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