Global Storage Water Heater Market Outlook for 2024 to 2034

The global storage water heater market is predicted to develop at a modest CAGR of 5.8% from 2024 to 2034. The total valuation of the global storage water heater industry is estimated to reach US$ 34,917.2 million by 2034, up from US$ 19,869.3 million in 2024.

Storage Water Heater Market Trends and Analysis

  • Growing economies in emerging nations have raised people's demand for additional household equipment, including residential water heaters.
  • Growing demand for energy-saving electric storage heaters has led to developing and acceptance of solar storage water heaters for residential use.
  • Advanced insulating materials, intelligent heating controls, and hybrid technologies are a few innovations that help suppliers save both the environment and customers' money.
Report Attribute Details
Storage Water Heater Market Share (2024) US$ 19,869.3 million
Market Anticipated Forecast Value (2034) US$ 34,917.2 million
Market Projected Growth Rate (2024 to 2034) 5.8%

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Global Storage Water Heater Market Analysis During Historical Period from 2019 to 2023 Compared to Forecast Outlook for 2024 to 2034

As per the global water heater market analysis report of 2019, the total revenue generated by the market was nearly US$ 16,378.6 million. In the following five years, the niche market of storage water heaters advanced with an average 3.8% annual growth rate.

Attributes Details
Storage Water Heater Market Size (2019) US$ 16,378.6 million
Market Value (2023) US$ 19,013.7 million
Market (CAGR 2019 to 2023) 3.8%

In the last few years, consumer choices have been significantly altered after the growing emphasis on sustainability and energy efficiency globally. Manufacturers of traditional storage water heaters have profited from this trend by creating models that use less energy or can be adapted to different energy supplies.

Prominent Factors for the Growth of the Storage Water Heater Market

Electric storage water heater manufacturers have a greater chance to include smart operation capabilities as IOT technologies have been advancing fast in recent years. So, modern consumers in cities are requesting more smart water heaters that come with remote controls, customizable schedules, and connectivity with home automation systems.

Manufacturers of business water heaters are investing more in research and development to improve the reliability and performance of their products by utilizing recent developments in the material sciences. The lifetime of standard water storage tanks with heating systems can be boosted by increased insulation, practical heating components, and corrosion-resistant materials.

Design aesthetics and the customizability of commercial water heaters, together with utility, are becoming more important for present-day consumers. So, leading market competitors are aspiring to set themselves apart from other vendors by providing a variety of styles, coatings, and customizability options.

Country-wise Insights

The table below lists the countries that could provide lucrative ground for the growth and advancement of storage water heater industries during the projected years. The United States and China, already having well-established markets, are expected to advance on the back of technological developments. Meanwhile, India and Australia are emerging markets in the storage water heater domain and anticipate strengthening their industrial base to increase production capacity.

Countries CAGR (2024 to 2034)
United States 4.1%
Australia 6.7%
China 5.9%
India 7.7%

The United States to Lead in Advancement of Storage Water Heater Technologies

According to the market analysis report, the United States storage water heater market is forecast to expand at 4.1% CAGR through 2034.

Regional players are trying to gain a competitive advantage by targeting customers with higher spending capacity demanding cutting-edge home appliances and solutions. Storage water heater manufacturers in the United States can take advantage of this consumer base by emphasizing the effectiveness of quick heating technology or hybrid storage water heaters.

In Australia, Storage Water Heaters are Replacing Other Heating Equipment Quickly

The demand for storage water heaters in Australia is projected to rise at a y-o-y growth rate of 6.7% through 2034.

People in Australia are starting to realize how much energy a family uses for water heating. It has slowed down conventional water heater market growth in the country, and regional players are shifting their focus to classic water storage heaters.

Industries in China are Focusing More on Compact Storage Water Heaters

The production capacity of storage water heater industries in China is likely to grow at 5.9% CAGR between 2024 and 2034.

Compact home water storage units with effective heating systems are in greater demand in China due to urbanization trends, especially in highly populated cities with high-rise structures. So, Chinese manufacturers are putting much effort into improving their offerings by developing boiler storage water heaters and hot water storage tanks these days.

Energy Conservation Goals have Overhauled the Water Heater Business in India

Over the next ten years, the sales of the storage water heater market in India are projected to evolve at a 7.7% growth rate.

Standard water heater manufacturers in India are trying to contribute to the energy conservation and affordable heating solutions movement growing in the country. Their key business strategy has come down to informing consumers about the advantages of appropriate insulation and energy-saving modes available in their storage water heater products.

Sudip Saha
Sudip Saha

Principal Consultant

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Category-wise Insights

Medium Size Storage Water Heaters Rule over Bigger Size Heaters

Sales of storage water heaters in 100 to 150 liters capacity are estimated to contribute to nearly 30% of the total sales in 2024.

Attributes Details
Top Heater Capacity Segment 100 to 150 liters
Market Share in 2024 29.9%

Storage water heaters with 100 to 150 liters capacity can reliably supply hot water and are indispensable to city dwellers and big families in other areas. Nevertheless, demand for commercial water heater units of less capacity that are compact and fit within the space limitations of urban life is also growing at a faster rate.

Electric Water Heaters are Preferred over Gas or Other Energy Sources

As per the industry analysis, storage water heater appliances that run on electricity are estimated to hold almost two-thirds of the market share in 2024.

Attributes Details
Top Energy Source Segment Electricity
Market Share in 2024 66.7%

The electric storage water heater segment is expected to expand further in the coming days due to the convenience and reasonable price of the product. However, higher capacity and convenience of gas storage water heaters in areas without reliable electricity supply are expected to retain their desirability and market share in the future.

Competitive Landscape

Like many other home appliance sectors, the competitive landscape for storage water heater products has also split into two distinct business strategies. Leading market players include features like antimicrobial materials, self-cleaning mechanisms, and water purity maintenance to position themselves as brands of safe and healthful water heating solutions. Meanwhile, emerging players are focusing more on providing reasonably priced, dependable storage water heaters that are customized to the unique requirements and budgets of regional customers.

Recent Developments in the Global Storage Water Heater Market

In October 2023, Voltas, a well-known brand in the home appliances sector and the top air conditioning manufacturer in India, announced its entry into the water heater market. The launch of Voltas Water Heaters line demonstrates the company's commitment to making products that meet changing customer expectations. This new product line comprises storage as well as instant water heaters, each with a capacity of 10 liters, 15 liters, or 25 liters to meet the requirements of the diverse Indian market.

In September 2022, Essency Company introduced a 30-year-lasting EXR water heater for its consumers in the United States. This is the first on-demand tank water heater in the world with a polymer storage tank that makes it appropriate for domestic use. Also, the multitasking capabilities, smart control features, and great energy efficiency. This ground-breaking product has boosted the demand for water heaters from the brand, solidifying the company's market position in the country.

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Key Players Profiled in the Storage Water Heater Market Report

  • Havells India Ltd.
  • Hubbell Heaters
  • Saudi Ceramics Company
  • Linuo Ritter International Co., Ltd.
  • Jaquar India
  • Viessmann
  • Vaillant
  • Nihon Itomic Co., Ltd.
  • Atlantic
  • A.O. Smith
  • Ariston Holding N.V.
  • Bosch Thermotechnology Ltd.
  • Bradford White Corporation, USA
  • Haier Inc.
  • Rheem Manufacturing Company
  • Whirlpool Corporation
  • Rinnai America Corporation
  • State Industries
  • Ferroli S.p.A
  • Essency

Storage Water Heater Market Report Scope

Attribute Details
Estimated Market Size (2024) US$ 19,869.3 million
Projected Market Size (2034) US$ 34,917.2 million
Anticipated Growth Rate (2024 to 2034) 5.8%
Forecast Period 2024 to 2034
Historical Data Available for 2019 to 2023
Market Analysis US$ million or billion for Value and Units for Volume
Key Regions Covered North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania
Key Countries Covered United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered By Capacity, By Energy Source, By End Use Application and By Region
Key Companies Profiled Havells India Ltd.; Hubbell Heaters; Saudi Ceramics Company; Linuo Ritter International Co., Ltd.; Jaquar India; Viessmann; Vaillant; Nihon Itomic Co., Ltd.; Atlantic; A.O. Smith; Ariston Holding N.V.; Bosch Thermotechnology Ltd.; Bradford White Corporation, USA; Haier Inc.; Rheem Manufacturing Company; Whirlpool Corporation; Rinnai America Corporation; State Industries; Ferroli S.p.A; Essency
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

Key Segments Covered by Storage Water Heater Industry Survey Report

By Capacity:

  • Less than 30 liters
  • 30 liters to 100 liters
  • 100 liters to 250 liters
  • 250 liters to 400 liters
  • More than 400 liters

By Energy Source:

  • Electric
  • Gas

By End Use Application:

  • Residential
  • Commercial
    • College or University
    • Offices
    • Government or Military
    • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • The Middle East and Africa (MEA)

Frequently Asked Questions

What is the Market Share of Storage Water Heaters in 2023?

The global storage water heater market value reached US$ 19,013.7 million in 2023

What is the Growth Outlook of the Storage Water Heater Market?

The global storage water heater market is to grow at 5.8% during the forecasted years.

What is the Sales Forecast for the Global Storage Water Heater Market?

The storage water heater market is expected to be US$ 34,917.2 million by 2034.

Who are the Leading Manufacturers of Storage Water Heaters?

Havells, Hubbel, and Jaquar are a few leading players in the global market.

What is the Growth Potential of India in the Storage Water Heaters Market?

India is likely to witness a CAGR of 7.7% in sales of storage water heaters through 2034.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034

    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Energy Source

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Energy Source, 2019 to 2023

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Energy Source, 2024 to 2034

        5.3.1. Electric

        5.3.2. Gas

        5.3.3. Solar

        5.3.4. Others

    5.4. Y-o-Y Growth Trend Analysis By Energy Source, 2019 to 2023

    5.5. Absolute $ Opportunity Analysis By Energy Source, 2024 to 2034

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tank Capacity

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Tank Capacity, 2019 to 2023

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Tank Capacity, 2024 to 2034

        6.3.1. Up to 50L

        6.3.2. 51L – 100L

        6.3.3. 101L – 250L

        6.3.4. 251L – 400L

        6.3.5. More than 400L

    6.4. Y-o-Y Growth Trend Analysis By Tank Capacity, 2019 to 2023

    6.5. Absolute $ Opportunity Analysis By Tank Capacity, 2024 to 2034

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tank Material

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Tank Material, 2019 to 2023

    7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Tank Material, 2024 to 2034

        7.3.1. Copper

        7.3.2. Stainless Steel

        7.3.3. Thermoplastic

        7.3.4. Others

    7.4. Y-o-Y Growth Trend Analysis By Tank Material, 2019 to 2023

    7.5. Absolute $ Opportunity Analysis By Tank Material, 2024 to 2034

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User

    8.1. Introduction / Key Findings

    8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-User, 2019 to 2023

    8.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-User, 2024 to 2034

        8.3.1. Individual

        8.3.2. Commercial

        8.3.3. Industrial

    8.4. Y-o-Y Growth Trend Analysis By End-User, 2019 to 2023

    8.5. Absolute $ Opportunity Analysis By End-User, 2024 to 2034

9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    9.1. Introduction

    9.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023

    9.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034

        9.3.1. North America

        9.3.2. Latin America

        9.3.3. Western Europe

        9.3.4. Eastern Europe

        9.3.5. South Asia and Pacific

        9.3.6. East Asia

        9.3.7. Middle East and Africa

    9.4. Market Attractiveness Analysis By Region

10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        10.2.1. By Country

            10.2.1.1. USA

            10.2.1.2. Canada

        10.2.2. By Energy Source

        10.2.3. By Tank Capacity

        10.2.4. By Tank Material

        10.2.5. By End-User

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Energy Source

        10.3.3. By Tank Capacity

        10.3.4. By Tank Material

        10.3.5. By End-User

    10.4. Key Takeaways

11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        11.2.1. By Country

            11.2.1.1. Brazil

            11.2.1.2. Mexico

            11.2.1.3. Rest of Latin America

        11.2.2. By Energy Source

        11.2.3. By Tank Capacity

        11.2.4. By Tank Material

        11.2.5. By End-User

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Energy Source

        11.3.3. By Tank Capacity

        11.3.4. By Tank Material

        11.3.5. By End-User

    11.4. Key Takeaways

12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        12.2.1. By Country

            12.2.1.1. Germany

            12.2.1.2. UK

            12.2.1.3. France

            12.2.1.4. Spain

            12.2.1.5. Italy

            12.2.1.6. Rest of Western Europe

        12.2.2. By Energy Source

        12.2.3. By Tank Capacity

        12.2.4. By Tank Material

        12.2.5. By End-User

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Energy Source

        12.3.3. By Tank Capacity

        12.3.4. By Tank Material

        12.3.5. By End-User

    12.4. Key Takeaways

13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        13.2.1. By Country

            13.2.1.1. Poland

            13.2.1.2. Russia

            13.2.1.3. Czech Republic

            13.2.1.4. Romania

            13.2.1.5. Rest of Eastern Europe

        13.2.2. By Energy Source

        13.2.3. By Tank Capacity

        13.2.4. By Tank Material

        13.2.5. By End-User

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Energy Source

        13.3.3. By Tank Capacity

        13.3.4. By Tank Material

        13.3.5. By End-User

    13.4. Key Takeaways

14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        14.2.1. By Country

            14.2.1.1. India

            14.2.1.2. Bangladesh

            14.2.1.3. Australia

            14.2.1.4. New Zealand

            14.2.1.5. Rest of South Asia and Pacific

        14.2.2. By Energy Source

        14.2.3. By Tank Capacity

        14.2.4. By Tank Material

        14.2.5. By End-User

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Energy Source

        14.3.3. By Tank Capacity

        14.3.4. By Tank Material

        14.3.5. By End-User

    14.4. Key Takeaways

15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        15.2.1. By Country

            15.2.1.1. China

            15.2.1.2. Japan

            15.2.1.3. South Korea

        15.2.2. By Energy Source

        15.2.3. By Tank Capacity

        15.2.4. By Tank Material

        15.2.5. By End-User

    15.3. Market Attractiveness Analysis

        15.3.1. By Country

        15.3.2. By Energy Source

        15.3.3. By Tank Capacity

        15.3.4. By Tank Material

        15.3.5. By End-User

    15.4. Key Takeaways

16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    16.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023

    16.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034

        16.2.1. By Country

            16.2.1.1. GCC Countries

            16.2.1.2. South Africa

            16.2.1.3. Israel

            16.2.1.4. Rest of MEA

        16.2.2. By Energy Source

        16.2.3. By Tank Capacity

        16.2.4. By Tank Material

        16.2.5. By End-User

    16.3. Market Attractiveness Analysis

        16.3.1. By Country

        16.3.2. By Energy Source

        16.3.3. By Tank Capacity

        16.3.4. By Tank Material

        16.3.5. By End-User

    16.4. Key Takeaways

17. Key Countries Market Analysis

    17.1. USA

        17.1.1. Pricing Analysis

        17.1.2. Market Share Analysis, 2023

            17.1.2.1. By Energy Source

            17.1.2.2. By Tank Capacity

            17.1.2.3. By Tank Material

            17.1.2.4. By End-User

    17.2. Canada

        17.2.1. Pricing Analysis

        17.2.2. Market Share Analysis, 2023

            17.2.2.1. By Energy Source

            17.2.2.2. By Tank Capacity

            17.2.2.3. By Tank Material

            17.2.2.4. By End-User

    17.3. Brazil

        17.3.1. Pricing Analysis

        17.3.2. Market Share Analysis, 2023

            17.3.2.1. By Energy Source

            17.3.2.2. By Tank Capacity

            17.3.2.3. By Tank Material

            17.3.2.4. By End-User

    17.4. Mexico

        17.4.1. Pricing Analysis

        17.4.2. Market Share Analysis, 2023

            17.4.2.1. By Energy Source

            17.4.2.2. By Tank Capacity

            17.4.2.3. By Tank Material

            17.4.2.4. By End-User

    17.5. Germany

        17.5.1. Pricing Analysis

        17.5.2. Market Share Analysis, 2023

            17.5.2.1. By Energy Source

            17.5.2.2. By Tank Capacity

            17.5.2.3. By Tank Material

            17.5.2.4. By End-User

    17.6. UK

        17.6.1. Pricing Analysis

        17.6.2. Market Share Analysis, 2023

            17.6.2.1. By Energy Source

            17.6.2.2. By Tank Capacity

            17.6.2.3. By Tank Material

            17.6.2.4. By End-User

    17.7. France

        17.7.1. Pricing Analysis

        17.7.2. Market Share Analysis, 2023

            17.7.2.1. By Energy Source

            17.7.2.2. By Tank Capacity

            17.7.2.3. By Tank Material

            17.7.2.4. By End-User

    17.8. Spain

        17.8.1. Pricing Analysis

        17.8.2. Market Share Analysis, 2023

            17.8.2.1. By Energy Source

            17.8.2.2. By Tank Capacity

            17.8.2.3. By Tank Material

            17.8.2.4. By End-User

    17.9. Italy

        17.9.1. Pricing Analysis

        17.9.2. Market Share Analysis, 2023

            17.9.2.1. By Energy Source

            17.9.2.2. By Tank Capacity

            17.9.2.3. By Tank Material

            17.9.2.4. By End-User

    17.10. Poland

        17.10.1. Pricing Analysis

        17.10.2. Market Share Analysis, 2023

            17.10.2.1. By Energy Source

            17.10.2.2. By Tank Capacity

            17.10.2.3. By Tank Material

            17.10.2.4. By End-User

    17.11. Russia

        17.11.1. Pricing Analysis

        17.11.2. Market Share Analysis, 2023

            17.11.2.1. By Energy Source

            17.11.2.2. By Tank Capacity

            17.11.2.3. By Tank Material

            17.11.2.4. By End-User

    17.12. Czech Republic

        17.12.1. Pricing Analysis

        17.12.2. Market Share Analysis, 2023

            17.12.2.1. By Energy Source

            17.12.2.2. By Tank Capacity

            17.12.2.3. By Tank Material

            17.12.2.4. By End-User

    17.13. Romania

        17.13.1. Pricing Analysis

        17.13.2. Market Share Analysis, 2023

            17.13.2.1. By Energy Source

            17.13.2.2. By Tank Capacity

            17.13.2.3. By Tank Material

            17.13.2.4. By End-User

    17.14. India

        17.14.1. Pricing Analysis

        17.14.2. Market Share Analysis, 2023

            17.14.2.1. By Energy Source

            17.14.2.2. By Tank Capacity

            17.14.2.3. By Tank Material

            17.14.2.4. By End-User

    17.15. Bangladesh

        17.15.1. Pricing Analysis

        17.15.2. Market Share Analysis, 2023

            17.15.2.1. By Energy Source

            17.15.2.2. By Tank Capacity

            17.15.2.3. By Tank Material

            17.15.2.4. By End-User

    17.16. Australia

        17.16.1. Pricing Analysis

        17.16.2. Market Share Analysis, 2023

            17.16.2.1. By Energy Source

            17.16.2.2. By Tank Capacity

            17.16.2.3. By Tank Material

            17.16.2.4. By End-User

    17.17. New Zealand

        17.17.1. Pricing Analysis

        17.17.2. Market Share Analysis, 2023

            17.17.2.1. By Energy Source

            17.17.2.2. By Tank Capacity

            17.17.2.3. By Tank Material

            17.17.2.4. By End-User

    17.18. China

        17.18.1. Pricing Analysis

        17.18.2. Market Share Analysis, 2023

            17.18.2.1. By Energy Source

            17.18.2.2. By Tank Capacity

            17.18.2.3. By Tank Material

            17.18.2.4. By End-User

    17.19. Japan

        17.19.1. Pricing Analysis

        17.19.2. Market Share Analysis, 2023

            17.19.2.1. By Energy Source

            17.19.2.2. By Tank Capacity

            17.19.2.3. By Tank Material

            17.19.2.4. By End-User

    17.20. South Korea

        17.20.1. Pricing Analysis

        17.20.2. Market Share Analysis, 2023

            17.20.2.1. By Energy Source

            17.20.2.2. By Tank Capacity

            17.20.2.3. By Tank Material

            17.20.2.4. By End-User

    17.21. GCC Countries

        17.21.1. Pricing Analysis

        17.21.2. Market Share Analysis, 2023

            17.21.2.1. By Energy Source

            17.21.2.2. By Tank Capacity

            17.21.2.3. By Tank Material

            17.21.2.4. By End-User

    17.22. South Africa

        17.22.1. Pricing Analysis

        17.22.2. Market Share Analysis, 2023

            17.22.2.1. By Energy Source

            17.22.2.2. By Tank Capacity

            17.22.2.3. By Tank Material

            17.22.2.4. By End-User

    17.23. Israel

        17.23.1. Pricing Analysis

        17.23.2. Market Share Analysis, 2023

            17.23.2.1. By Energy Source

            17.23.2.2. By Tank Capacity

            17.23.2.3. By Tank Material

            17.23.2.4. By End-User

18. Market Structure Analysis

    18.1. Competition Dashboard

    18.2. Competition Benchmarking

    18.3. Market Share Analysis of Top Players

        18.3.1. By Regional

        18.3.2. By Energy Source

        18.3.3. By Tank Capacity

        18.3.4. By Tank Material

        18.3.5. By End-User

19. Competition Analysis

    19.1. Competition Deep Dive

        19.1.1. A.O. Smith Corporation

            19.1.1.1. Overview

            19.1.1.2. Product Portfolio

            19.1.1.3. Profitability by Market Segments

            19.1.1.4. Sales Footprint

            19.1.1.5. Strategy Overview

                19.1.1.5.1. Marketing Strategy

                19.1.1.5.2. Product Strategy

                19.1.1.5.3. Channel Strategy

        19.1.2. Bosch

            19.1.2.1. Overview

            19.1.2.2. Product Portfolio

            19.1.2.3. Profitability by Market Segments

            19.1.2.4. Sales Footprint

            19.1.2.5. Strategy Overview

                19.1.2.5.1. Marketing Strategy

                19.1.2.5.2. Product Strategy

                19.1.2.5.3. Channel Strategy

        19.1.3. Electrolux

            19.1.3.1. Overview

            19.1.3.2. Product Portfolio

            19.1.3.3. Profitability by Market Segments

            19.1.3.4. Sales Footprint

            19.1.3.5. Strategy Overview

                19.1.3.5.1. Marketing Strategy

                19.1.3.5.2. Product Strategy

                19.1.3.5.3. Channel Strategy

        19.1.4. Crompton Greaves Ltd

            19.1.4.1. Overview

            19.1.4.2. Product Portfolio

            19.1.4.3. Profitability by Market Segments

            19.1.4.4. Sales Footprint

            19.1.4.5. Strategy Overview

                19.1.4.5.1. Marketing Strategy

                19.1.4.5.2. Product Strategy

                19.1.4.5.3. Channel Strategy

        19.1.5. Rinnai

            19.1.5.1. Overview

            19.1.5.2. Product Portfolio

            19.1.5.3. Profitability by Market Segments

            19.1.5.4. Sales Footprint

            19.1.5.5. Strategy Overview

                19.1.5.5.1. Marketing Strategy

                19.1.5.5.2. Product Strategy

                19.1.5.5.3. Channel Strategy

        19.1.6. Midea Group

            19.1.6.1. Overview

            19.1.6.2. Product Portfolio

            19.1.6.3. Profitability by Market Segments

            19.1.6.4. Sales Footprint

            19.1.6.5. Strategy Overview

                19.1.6.5.1. Marketing Strategy

                19.1.6.5.2. Product Strategy

                19.1.6.5.3. Channel Strategy

        19.1.7. Rehem Manufacturing Company

            19.1.7.1. Overview

            19.1.7.2. Product Portfolio

            19.1.7.3. Profitability by Market Segments

            19.1.7.4. Sales Footprint

            19.1.7.5. Strategy Overview

                19.1.7.5.1. Marketing Strategy

                19.1.7.5.2. Product Strategy

                19.1.7.5.3. Channel Strategy

        19.1.8. Eccotemp Systems

            19.1.8.1. Overview

            19.1.8.2. Product Portfolio

            19.1.8.3. Profitability by Market Segments

            19.1.8.4. Sales Footprint

            19.1.8.5. Strategy Overview

                19.1.8.5.1. Marketing Strategy

                19.1.8.5.2. Product Strategy

                19.1.8.5.3. Channel Strategy

        19.1.9. Noritz Corporation

            19.1.9.1. Overview

            19.1.9.2. Product Portfolio

            19.1.9.3. Profitability by Market Segments

            19.1.9.4. Sales Footprint

            19.1.9.5. Strategy Overview

                19.1.9.5.1. Marketing Strategy

                19.1.9.5.2. Product Strategy

                19.1.9.5.3. Channel Strategy

        19.1.10. Bradford White Corporation,

            19.1.10.1. Overview

            19.1.10.2. Product Portfolio

            19.1.10.3. Profitability by Market Segments

            19.1.10.4. Sales Footprint

            19.1.10.5. Strategy Overview

                19.1.10.5.1. Marketing Strategy

                19.1.10.5.2. Product Strategy

                19.1.10.5.3. Channel Strategy

20. Assumptions & Acronyms Used

21. Research Methodology

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