Saudi Arabia Electric Water Heater Market Size
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2020 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Electric Water Heater Market Analysis
Saudi Arabia's electric water heater market will witness growth on account of increasing disposable income and increasing investments in the residential segment. Additionally, investments in new resorts and hotels would boost the sales of water heaters in the future. The country is one of the largest tourist destinations across the GCC region on account of its religious significance. The market will witness growth on account of the expanding tourism and hospitality sector. Evolving urban lifestyle, increasing income levels, and growing disposable income stimulate customers to spend on consumer utilities like electric water heaters. Rapid industrialization coupled with the high adoption of electric water heaters is a major factor driving the growth of the market. In addition, growing demand for energy-efficient electric water heaters and rising demand for alternative water heating solutions as opposed to traditional sources as biofuel, wood, and coal are other major factors anticipated to boost the growth of the electric water heater market over the forecast period.
Saudi Arabia Electric Water Heater Market Trends
This section covers the major market trends shaping the Saudi Arabia Electric Water Heater Market according to our research experts:
Growing Urbanization is Driving the Market
Urban population and higher living standards, coupled with growing technologies and governmental policies, drive the growth of residential infrastructure. The rising number of residential infrastructures is facilitating the electric water heater market players to witness growth in demand for their respective products. The increase in product premiumization due to continuous technological innovation is one of the key drivers expected to trigger the market's growth in the forthcoming years. In addition, an appreciable increase in disposable income as a result of urbanization will further reinforce the accessibility & affordability of these products. The awareness of benefits and application areas of electric water heaters is peaking among the urban population, and pertaining to this, the adoption of the same is continuously growing, which is then furnishing the revenue size of the electric water heaters market.
Commercial Segment Hold the Largest Market Share
The commercial segment is anticipated to increase its shares during the forecast period. Increasing commercial projects is expected to drive the demand for the market. Furthermore, growing deployment across commercial spaces on account of advanced operational benefits including low heating or electricity cost, extensive control features will complement the market landscape. the units are widely deployed across commercial facilitates including hotels, restaurants, and care centers. Product availability in multiple capacity ranges is fulfilling different customer requirements that have significantly accelerated market growth. For instance, the restaurant and resorts require large capacity systems for use across kitchens, saunas, swimming pools, and washrooms. Additionally, the requirement for instant water heater in the commercial sector is anticipated to surge, which is expected to drive the annual sales of the manufacturers offering instantaneous electric water heaters.
Saudi Arabia Electric Water Heater Industry Overview
The report covers major international players operating in the Saudi Arabia Electric Water Heater Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Saudi Arabia Electric Water Heater Market Leaders
Rheem Manufacturing Company
Ariston
Legrand
Saudi Ceramics
A. O. Smith
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Electric Water Heater Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.3 Market Restraints
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4.4 Value Chain / Supply Chain Analysis
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4.5 Porters 5 Force Analysis
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4.5.1 Threat of New Entrants
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4.5.2 Bargaining Power of Buyers/Consumers
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4.5.3 Bargaining Power of Suppliers
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4.5.4 Threat of Substitute Products
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4.5.5 Intensity of Competitive Rivalry
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4.6 Impact of COVID-19 on the Market
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5. MARKET SEGMENTATION
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5.1 Product
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5.1.1 Storage
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5.1.2 Instant
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5.2 Capacity
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5.2.1 Small Water Heater
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5.2.2 Medium Water Heater
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5.2.3 Large Water Heater
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5.3 End-User
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5.3.1 Residential
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5.3.2 Commercial
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5.3.3 Industrial
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6. COMPETITIVE LANDSCAPE
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6.1 Market Concentration Overview
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6.2 Company Profiles
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6.2.1 Rheem Manufacturing Company
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6.2.2 Ariston
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6.2.3 Legrand
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6.2.4 Saudi Ceramics
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6.2.5 A. O. Smith
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6.2.6 Bosch
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6.2.7 Haier
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6.2.8 Ferroli
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6.2.9 Whirlpool Corporation
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6.2.10 Orbital Horizon
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. APPENDIX
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9. DISCLAIMER
Saudi Arabia Electric Water Heater Industry Segmentation
A complete background analysis of the Saudi Arabia Electric Water Heater Market, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report.
| Product | |
| Storage | |
| Instant |
| Capacity | |
| Small Water Heater | |
| Medium Water Heater | |
| Large Water Heater |
| End-User | |
| Residential | |
| Commercial | |
| Industrial |
Saudi Arabia Electric Water Heater Market Research FAQs
What is the current Saudi Arabia Electric Water Heater Market size?
The Saudi Arabia Electric Water Heater Market is projected to register a CAGR of greater than 7% during the forecast period (2023-2028).
Who are the key players in Saudi Arabia Electric Water Heater Market?
Rheem Manufacturing Company, Ariston, Legrand, Saudi Ceramics and A. O. Smith are the major companies operating in the Saudi Arabia Electric Water Heater Market.
Saudi Arabia Electric Water Heater Industry Report
Statistics for the 2023 Saudi Arabia Electric Water Heater market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Electric Water Heater analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
