BSRIA released a series of reports reviewing developments on the key global water heating markets. While countries are focusing on carbon emissions’ reduction and develop green strategies to achieve net-zero targets, regulations and policies promote and support shift towards more efficient, environmentally safer space heating and cooling. This also has an impact on water heating systems. The new edition of the study covers 17 countries, representative for all the world regions.
The global water heating market comprising of traditional electric and gas water heaters as well as various types of storage cylinders exceeds 100 million units sold each year. More than three quarters of the market is concentrated in six countries: China, Brazil, USA, India, Germany and Saudi Arabia; each of them presenting a rather different market structure.
Heat pump water heaters account for a very small but growing share of the water heating market.
The overall sales of water heating products have historically been quite stable, even though sales dynamics between electric and gas units varied greatly depending on the country or a region. This is due to change in the coming years, as some markets are set to experience intense growth of towns and cities, often combined with rapid modernisation. While replacement market unfolds, different mix of products is also expected to be sold.