Saudi Arabia Water Heater Market

Saudi Arabia Water Heater Market Size, Share, Growth Analysis, By Product(Storage and Instant), By Capacity(Small Water Heater, Medium Water Heater, and Large Water Heater), By End-user(Residential, Commercial, and Industrial), By Region - Industry Forecast 2024-2031

Report ID: SQMIC30K2050 | Region: Country | Published Date: April, 2024
Pages: 198 | Tables: 88 | Figures: 76

Saudi Arabia Water Heater Market Insights

Saudi Arabia Water Heater Market size was valued at USD 179.9 million in 2022 and is poised to grow from USD 184.40 million in 2023 to USD 224.67 million by 2031, growing at a CAGR of 2.5% in the forecast period (2024-2031).

High demand for energy-efficient and reliable water heating solutions is projected to primarily augment the Saudi Arabian water heater market over the coming years. A paradigm shift in consumer preference for water heaters that are convenient and cost-effective is also slated to favor Saudi Arabia water heater market growth.

Rising focus on sustainable living practices and the launch of several new government initiatives to promote energy efficiency are also estimated to shape future demand for water heaters in Saudi Arabia. Water heater manufacturers are focusing on product innovation to provide products with smart features as per changing consumer preferences.

Domestic as well as international companies are fighting it out in Saudi Arabia to gain a prominent share of the water heater market. Increasing disposable income and growing urbanization are also predicted to play a crucial role in determining the future Saudi Arabia water heater market growth.

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Saudi Arabia Water Heater Market size was valued at USD 179.9 million in 2022 and is poised to grow from USD 184.40 million in 2023 to USD 224.67 million by 2031, growing at a CAGR of 2.5% in the forecast period (2024-2031).

Product innovation is slated to be of the essence for any water heater supplier operating the Saudi Arabia water heater marketplace. Water heater manufacturers are focusing on coming up with energy-efficient products to satisfy the demand for the same from consumers. Adoption of innovative distribution and marketing strategies will also be crucial for the success of any water heater vendor in Saudi Arabia going forward. 'A.O. Smith (US)', 'Siemens AG (Germany)', 'State Water Heaters (US)', 'Whirlpool Corporation (US)', 'Orbital Horizon (Saudi Arabia)', 'Navien Inc. (South Korea)', 'Noritz Corporation (Japan)', 'Rinnai Corporation (Japan)', 'Jaquar KSA (Saudi Arabia)', 'Bradford White Corporation (US)', 'Saudi Ceramics Company (Saudi Arabia)', 'Bosch Thermotechnology (Germany)', 'Rheem Manufacturing Company (US)', 'Ariston Thermo Group (Italy)', 'Ferroli (Italy)', 'Viessmann Group (Germany)', 'Haier Group (China)', 'AEG (Germany)', 'Eemax (US)', 'Atmor (Israel)'

Emphasis on energy efficiency has been increasing in Saudi Arabia in recent years owing to rising focus on sustainability. Consumers in the country are demanding more energy-efficient appliances to comply with modern sustainability standards and this is why demand for compact and small water heaters is surging in Saudi Arabia.

Demand for Smart Electric Water Heaters : Smart electric water heaters with advanced features such as remote control and intelligent energy management are projected to be highly popular among consumers in Saudi Arabia. Growing integration of smart products in homes and the rising popularity of connected homes are factors that promote the demand for smart electric water heaters in Saudi Arabia.

Central Saudi Arabia accounts for a prominent share of the Saudi Arabia water heater market owing to it being home to some of the most significant economic and administrative activities in the country. A substantial portion of the country’s population resides in this region with it being the home to the capital city of Riyadh. Well-developed infrastructure and the presence of a diverse consumer base allow this region to account for a sizeable share of water heater sales in Saudi Arabia.

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Saudi Arabia Water Heater Market

Report ID: SQMIC30K2050

$3,500
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