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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