Asia-pacific water heater market is anticipated to grow at a CAGR 6.6% during the forecast period. Asia-Pacific includes several emerging economies is seen as the high potential market for the water heater companies to invest. The growth of the Asia-Pacific market is being primarily driven by China, Japan, and India’s solar panel market. Australia, South Korea, and Taiwan are the key regions growing at a significant rate due to increasing demand for solar water heater coupled with rising installations. The growing trend towards green energy resources has also influenced the growth within the region at an extensive level. Partnerships with other countries have also played a vital role in the growing installations within the region. Therefore, these factors fuel the growth of the Asia-pacific water heater market.
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Asia-Pacific water heater market is segmented into China, Japan, India, and rest of Asia-Pacific. China holds the highest market share in the Asia-Pacific water heater market. India is estimated to grow with the considerable growth during the forecast period. The Asia-pacific water heater market is segmented on the basis of energy source, mode of water supply and end-user. The solar water heaters are the largest market share in the Asia-pacific water heater market during the forecast period.
Asia-Pacific Water Heater Market Segmentation
By Energy Source
- Gas
- Electricity Water Heaters
- Hybrid Water Heaters
- Solar Water Heaters
By Mode of Water Supply
- On-Demand or Tankless Water Heaters
- Storage Or Tank Water Heaters
By End-User
- Residential
- Commercial
- Industrial
Regional Analysis
- Asia-Pacific
- India
- China
- Japan
Rest of Asia-Pacific
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Company Profiles
- A.O. Smith Corp.
- Bajaj Electricals Ltd.
- Crompton Greaves Consumer Electricals Ltd.
- Haier electronics group Co., Ltd.
- Himin Solar Group Co., Ltd.
- Havells India Ltd.
- JiaxingJinyi Solar Energy Technology Co., Ltd.
- Hangzhou Kangquan Water Heater Co., Ltd.
- Rinnai Corp.
- Racold Thermo Pvt. Ltd.
- Venus home appliance
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