Product Code: ETC13307814 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Electric Water Heaters Market was valued at USD 29 Billion in 2024 and is expected to reach USD 43.2 Billion by 2031, growing at a compound annual growth rate of 12.60% during the forecast period (2025-2031).
The Global Electric Water Heaters Market is experiencing steady growth due to increasing demand for energy-efficient solutions and the modernization of infrastructure in both residential and commercial sectors. The market is driven by factors such as a growing population, urbanization, and rising disposable incomes. Key trends in the market include the adoption of smart water heaters with advanced features like remote monitoring and energy-saving capabilities. Geographically, regions like Asia-Pacific and Europe are expected to dominate the market due to high demand for electric water heaters. Leading players in the market are focusing on product innovation, strategic partnerships, and expanding their distribution networks to gain a competitive edge. Overall, the Global Electric Water Heaters Market is poised for further expansion in the coming years.
The Global Electric Water Heaters Market is experiencing notable trends and opportunities driven by the increasing demand for energy-efficient appliances and the growing emphasis on sustainability. Manufacturers are focusing on developing smart electric water heaters with features such as Wi-Fi connectivity and energy monitoring capabilities to cater to the evolving consumer preferences. Additionally, the rising adoption of electric water heaters in residential and commercial sectors, coupled with government initiatives promoting the use of energy-efficient appliances, is creating lucrative opportunities for market growth. The integration of advanced technologies like heat pump systems and digital controls in electric water heaters is also expected to drive market expansion. Overall, the market is poised for significant growth with a shift towards eco-friendly and technologically advanced electric water heating solutions.
In the Global Electric Water Heaters Market, several challenges are faced by manufacturers and suppliers. One major challenge is the increasing competition from alternative water heating technologies, such as solar water heaters and heat pump water heaters, which are gaining popularity due to their energy efficiency and cost-effectiveness. Additionally, fluctuating raw material prices, especially for components like heating elements and insulation materials, can impact profit margins for electric water heater manufacturers. Moreover, stringent energy efficiency regulations and standards imposed by various governments worldwide require continuous innovation and investment in research and development to meet these requirements. Lastly, the market also faces challenges related to consumer awareness and perception, as educating consumers about the benefits of electric water heaters compared to traditional gas heaters remains a crucial aspect for market growth.
The Global Electric Water Heaters Market is being primarily driven by the increasing focus on energy efficiency and sustainability. Consumers are increasingly opting for electric water heaters due to their lower energy consumption compared to traditional gas-powered heaters, leading to cost savings and reduced environmental impact. Additionally, technological advancements in electric water heaters, such as the integration of smart features for improved control and energy management, are further driving market growth. Government initiatives promoting the adoption of energy-efficient appliances, along with the rising demand for instant hot water solutions in residential and commercial sectors, are also key drivers fueling the growth of the Global Electric Water Heaters Market.
Government policies related to the Global Electric Water Heaters Market vary by region, but key trends include the promotion of energy efficiency and the transition towards cleaner energy sources. Many countries have implemented regulations and standards to encourage the adoption of energy-efficient electric water heaters, such as minimum energy performance requirements and labeling schemes. Additionally, governments are increasingly offering incentives and subsidies to consumers and businesses to invest in eco-friendly electric water heating systems. Some regions are also focusing on reducing greenhouse gas emissions by promoting the use of renewable energy sources for water heating. Overall, government policies in the Global Electric Water Heaters Market are geared towards driving sustainability, energy conservation, and the reduction of carbon footprints in the heating sector.
The Global Electric Water Heaters Market is expected to witness significant growth in the coming years due to several key factors. Rising awareness about energy efficiency, coupled with increasing adoption of smart home technologies, is driving the demand for electric water heaters. Additionally, stringent government regulations aimed at reducing carbon emissions and promoting sustainable practices are further fueling market growth. The integration of advanced features such as Wi-Fi connectivity and energy management systems is also expected to drive market expansion. Emerging economies, particularly in Asia Pacific and Latin America, present lucrative opportunities for market players. Overall, the Global Electric Water Heaters Market is projected to experience steady growth as consumers increasingly prioritize energy-efficient and environmentally friendly home appliances.
In the Global Electric Water Heaters Market, different regions exhibit varying trends and growth opportunities. In Asia, particularly in countries like China and India, the increasing urbanization and rising disposable income levels are driving the demand for electric water heaters. North America and Europe are witnessing a shift towards energy-efficient and smart water heating solutions, driving innovation in the market. In the Middle East and Africa region, rapid urbanization and infrastructure development projects are fueling the demand for electric water heaters. Latin America is also experiencing growth due to the growing awareness of energy conservation and the adoption of electric water heaters in residential and commercial buildings. Overall, the global electric water heaters market presents diverse opportunities across different regions driven by factors such as economic development, regulatory policies, and consumer preferences.
Global Electric Water Heaters Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Electric Water Heaters Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Electric Water Heaters Market Revenues & Volume, 2021 & 2031F |
3.3 Global Electric Water Heaters Market - Industry Life Cycle |
3.4 Global Electric Water Heaters Market - Porter's Five Forces |
3.5 Global Electric Water Heaters Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Electric Water Heaters Market Revenues & Volume Share, By Heater Type, 2021 & 2031F |
3.7 Global Electric Water Heaters Market Revenues & Volume Share, By Features, 2021 & 2031F |
3.8 Global Electric Water Heaters Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.9 Global Electric Water Heaters Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.10 Global Electric Water Heaters Market Revenues & Volume Share, By Power Rating, 2021 & 2031F |
4 Global Electric Water Heaters Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Electric Water Heaters Market Trends |
6 Global Electric Water Heaters Market, 2021 - 2031 |
6.1 Global Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Electric Water Heaters Market, Revenues & Volume, By Storage Water Heater, 2021 - 2031 |
6.1.3 Global Electric Water Heaters Market, Revenues & Volume, By Instant Water Heater, 2021 - 2031 |
6.1.4 Global Electric Water Heaters Market, Revenues & Volume, By Solar Hybrid Water Heater, 2021 - 2031 |
6.1.5 Global Electric Water Heaters Market, Revenues & Volume, By Tankless Water Heater, 2021 - 2031 |
6.2 Global Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Electric Water Heaters Market, Revenues & Volume, By Large Capacity, 2021 - 2031 |
6.2.3 Global Electric Water Heaters Market, Revenues & Volume, By Fast Heating, 2021 - 2031 |
6.2.4 Global Electric Water Heaters Market, Revenues & Volume, By Energy Efficient, 2021 - 2031 |
6.2.5 Global Electric Water Heaters Market, Revenues & Volume, By Space-Saving, 2021 - 2031 |
6.3 Global Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Electric Water Heaters Market, Revenues & Volume, By Residential, 2021 - 2031 |
6.3.3 Global Electric Water Heaters Market, Revenues & Volume, By Commercial Use, 2021 - 2031 |
6.3.4 Global Electric Water Heaters Market, Revenues & Volume, By Off-Grid Locations, 2021 - 2031 |
6.3.5 Global Electric Water Heaters Market, Revenues & Volume, By Apartments, 2021 - 2031 |
6.4 Global Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Electric Water Heaters Market, Revenues & Volume, By Homeowners, 2021 - 2031 |
6.4.3 Global Electric Water Heaters Market, Revenues & Volume, By Hotels & Restaurants, 2021 - 2031 |
6.4.4 Global Electric Water Heaters Market, Revenues & Volume, By Rural Households, 2021 - 2031 |
6.4.5 Global Electric Water Heaters Market, Revenues & Volume, By Urban Dwellers, 2021 - 2031 |
6.5 Global Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Electric Water Heaters Market, Revenues & Volume, By 1-5 kW, 2021 - 2031 |
6.5.3 Global Electric Water Heaters Market, Revenues & Volume, By 3-10 kW, 2021 - 2031 |
6.5.4 Global Electric Water Heaters Market, Revenues & Volume, By 5-20 kW, 2021 - 2031 |
6.5.5 Global Electric Water Heaters Market, Revenues & Volume, By 3-12 kW, 2021 - 2031 |
7 North America Electric Water Heaters Market, Overview & Analysis |
7.1 North America Electric Water Heaters Market Revenues & Volume, 2021 - 2031 |
7.2 North America Electric Water Heaters Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
7.4 North America Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
7.5 North America Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
7.6 North America Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
7.7 North America Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
8 Latin America (LATAM) Electric Water Heaters Market, Overview & Analysis |
8.1 Latin America (LATAM) Electric Water Heaters Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Electric Water Heaters Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
8.4 Latin America (LATAM) Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
8.5 Latin America (LATAM) Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
8.6 Latin America (LATAM) Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
8.7 Latin America (LATAM) Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
9 Asia Electric Water Heaters Market, Overview & Analysis |
9.1 Asia Electric Water Heaters Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Electric Water Heaters Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
9.4 Asia Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
9.5 Asia Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
9.6 Asia Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
9.7 Asia Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
10 Africa Electric Water Heaters Market, Overview & Analysis |
10.1 Africa Electric Water Heaters Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Electric Water Heaters Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
10.4 Africa Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
10.5 Africa Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
10.6 Africa Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
10.7 Africa Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
11 Europe Electric Water Heaters Market, Overview & Analysis |
11.1 Europe Electric Water Heaters Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Electric Water Heaters Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
11.4 Europe Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
11.5 Europe Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
11.6 Europe Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
11.7 Europe Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
12 Middle East Electric Water Heaters Market, Overview & Analysis |
12.1 Middle East Electric Water Heaters Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Electric Water Heaters Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Electric Water Heaters Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Electric Water Heaters Market, Revenues & Volume, By Heater Type, 2021 - 2031 |
12.4 Middle East Electric Water Heaters Market, Revenues & Volume, By Features, 2021 - 2031 |
12.5 Middle East Electric Water Heaters Market, Revenues & Volume, By Application, 2021 - 2031 |
12.6 Middle East Electric Water Heaters Market, Revenues & Volume, By End User, 2021 - 2031 |
12.7 Middle East Electric Water Heaters Market, Revenues & Volume, By Power Rating, 2021 - 2031 |
13 Global Electric Water Heaters Market Key Performance Indicators |
14 Global Electric Water Heaters Market - Export/Import By Countries Assessment |
15 Global Electric Water Heaters Market - Opportunity Assessment |
15.1 Global Electric Water Heaters Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Electric Water Heaters Market Opportunity Assessment, By Heater Type, 2021 & 2031F |
15.3 Global Electric Water Heaters Market Opportunity Assessment, By Features, 2021 & 2031F |
15.4 Global Electric Water Heaters Market Opportunity Assessment, By Application, 2021 & 2031F |
15.5 Global Electric Water Heaters Market Opportunity Assessment, By End User, 2021 & 2031F |
15.6 Global Electric Water Heaters Market Opportunity Assessment, By Power Rating, 2021 & 2031F |
16 Global Electric Water Heaters Market - Competitive Landscape |
16.1 Global Electric Water Heaters Market Revenue Share, By Companies, 2024 |
16.2 Global Electric Water Heaters Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |