Dublin, Jan. 28, 2026 (GLOBE NEWSWIRE) -- The "Water Heaters Market Report 2026" report has been added to ResearchAndMarkets.com's offering. The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The water heaters market size has grown strongly in recent years. It will grow from $67.29 billion in 2025 to $72 billion in 2026 at a compound annual growth rate (CAGR) of 7%. The growth in the historic period can be attributed to increase in household hot water usage, early adoption of electric heaters, growing demand for residential comfort appliances, rise in construction and housing development, expansion of commercial hot water systems. 
The water heaters market size is expected to see strong growth in the next few years. It will grow to $97.53 billion in 2030 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing shift toward renewable heating technologies, rising adoption of smart connected heaters, increasing emphasis on energy savings and emission reduction, growth in e commerce distribution for appliances, expanding commercial and industrial heating demand. Major trends in the forecast period include rising demand for energy efficient water heating solutions, growing adoption of tankless and on demand heating systems, increasing use of smart water heaters with remote monitoring, expansion of solar and geothermal heating installations, growing preference for compact and space saving heater designs.
Rapid urbanization is anticipated to drive growth in the water heater market during the forecast period. For instance, in January 2024, the Independent Commission for Aid Impact (ICAI), a UK-based information and services platform, projected that by 2050, over two-thirds (around 67%) of the global population will reside in urban areas. Additionally, data published by the World Bank in April 2023 indicated that 56% of the world's population, or approximately 4.4 billion people, lived in urban areas in 2023, with this number expected to more than double by 2050. The increase in the urban population, along with rising disposable incomes and improved affordability among city residents, is set to drive demand for water heaters. Therefore, rapid urbanization is a significant factor fueling the growth of the water heater market.
Leading companies in the water heater market are incorporating advanced technologies, such as advanced thermocline technology, to enhance energy efficiency and provide faster, more consistent heating. Advanced Thermocline Technology is a heating innovation that optimizes temperature layering within the water tank, delivering more usable hot water efficiently while reducing energy waste. For example, in June 2025, V-Guard Industries Ltd., an India-based consumer goods manufacturer, launched the Luxecube water heater series, combining luxury design with smart functionality. The series features the patented Advanced Thermocline Technology, which maintains a sharper hot-water boundary for up to ~38% more usable hot water, IoT connectivity through the V-Guard Smart app (with voice-control support for Amazon Alexa and Google Home), ambient Luxe Glow Pro LED mood lighting, real-time energy monitoring, holiday mode, and safety features such as child-lock and self-diagnostics - designed for high-rise pressure (0.8 MPa) and premium durability (titanium-infused tank + Incoloy 800 heating element).
In January 2024, Carrier Global Corporation, a U.S.-based company specializing in the design and manufacture of HVAC systems, acquired Viessmann Climate Solutions for an undisclosed amount. This acquisition aims to enhance Carrier Global Corporation's portfolio of sustainable climate solutions in response to the growing focus on renewable energy and energy transition. Viessmann Climate Solutions is a Germany-based manufacturer known for its heating and refrigeration systems, which include water heaters.
Scope
Markets Covered:
1) By Product Type: Solar Heaters; Electric Heaters; Gas and Propane Heaters; Geothermal Heaters
2) By Distribution channel: Supermarket/Hypermarket; Specialty Stores; E-Commerce; Other Distribution Channels
3) By End User: Residential; Commercial; Industrial
Subsegments:
1) By Solar Heaters: Active Solar Water Heating Systems; Passive Solar Water Heating Systems; Solar Pool Heaters
2) By Electric Heaters: Tank Electric Water Heaters; Tankless Electric Water Heaters; Heat Pump Water Heaters
3) By Gas And Propane Heaters: Tank Gas Water Heaters; Tankless Gas Water Heaters; Condensing Gas Water Heaters
4) By Geothermal Heaters: Ground Source Heat Pumps; Water Source Heat Pumps; Direct Exchange Systems
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2026-2030 |
| Estimated Market Value (USD) in 2026 | $72 Billion |
| Forecasted Market Value (USD) by 2030 | $97.53 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
The companies featured in this Water Heaters market report 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, s.r.o.
- Enerstena Group
- Petrojet Trade s.r.o.
- Druzstevni zavody Drazice company
- Noritz Corporation
- General Electric (GE)
- ATMOR
- Kyungdong Navien Co.,Ltd.
- Viesmann Group
- 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
- Kwikot (Pty) Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/av6qwr
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