Asia Pacific Water Heater Market is anticipated to reach over USD 8 billion by 2025. Robust development across the service sector coupled with rapid expansion of commercial establishments will foster the Asia Pacific water heater market growth. Prevailing government initiatives toward construction of smart cities along with strict building standards toward adoption of energy efficient heating appliances will enhance the industry outlook. In addition, increasing penetration of advanced heating systems on account of growing consumer awareness toward smart technologies will augment the business landscape.
Thailand water heater market will witness robust growth on account of extensive potential of solar heating across region. Gaining strength across the household spending along with significant reduction in the product cost will encourage the product installation. In addition, introduction of new reforms in order to reinforce the income and development will further complement the business landscape.
Stringent environment safety regulations coupled with rapid adoption of clean energy sources will enhance the Asia Pacific water heater market size. Growing carbon emissions have resulted in increasing demand for sustainable heating systems. In addition, ongoing construction of green buildings coupled with growing consumer concerns toward energy savings will encourage the product penetration.
Increasing disposable income along with rapid adoption of renewable heating solutions will drive the Indonesia water heater market growth. Flourishing tourism industry has attracted substantial government funding toward construction & development of commercial infrastructure including hospitals, hotels, complexes and resorts. The tourism industry has beset a target of over USD 16.6 billion in 2018, compared to USD 15.1 billion last year on account of anticipated rise in foreign arrivals.
Energy optimization and demand heating capabilities will foster the instant water heater market. Requirement of instant hot water delivery primarily across hospitals and corporate offices coupled with reduction in water wastage across the public amenities will encourage the product adoption. Furthermore, key features including efficient heating, low maintenance and fuel flexibility will further enhance the industry outlook.
Ongoing replacement of conventional heating systems owing to high power consumption and standby losses will foster the commercial water heater market. Growing construction of high-rise buildings coupled with increasing development of public facilities and hotels and are generating considerable water heating demand. In addition, growing hot water consumption across corporate offices and universities will further boost the product demand.
Eminent players operational across the Asia Pacific water heater industry include Havells India Limited, Bradford White, Hubbell, Bosch Thermotechnology, Whirlpool Corporation, A.O Smith, Rheem Manufacturing, General Electric Appliances, Viessmann Group, Rinnai Corporation, Ariston Thermo and State Industries.
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