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.

Market Snapshot - 2024-2031

Global Market Size

USD 179.9 million

Largest Segment

Small Water Heater

Fastest Growth

Medium Water Heater

Growth Rate

2.5% CAGR

Saudi Arabia water heater market ($ Bn)
Country Share for CENTRAL Region (%)

To get more reports on the above market click here to Buy The Report

Saudi Arabia Water Heater Market Segmental Analysis

Saudi Arabia water heater market is segmented based on product, capacity, end-user, and region. Based on product, the market is bifurcated into Storage and Instant. Based on capacity, the market is segmented into Small Water heaters, Medium Water heaters, and Large Water heaters. In terms of end-user, the market is segregated into Residential, Commercial, and Industrial. On a regional basis, the market is segmented into Eastern, Central, Northern, Northwest, Midwest, and Southwest.

Analysis by Product

Storage electric water heaters account for a dominant market share in the Saudi Arabia water heater marketplace. Reliability and familiarity are key prospects that allow this type of heater to be popular among consumers in Saudi Arabia. Storage water heaters provide a continuous supply of hot water to homes while maintaining their energy consumption statistics. The traditional preference for storage water heaters allows them to be used extensively in commercial as well as residential applications.

Instant electric water heaters are projected to witness a rapid hike in demand in Saudi Arabia over the coming years. High energy efficiency and their ability to provide hot water instantly when needed are features that allow them to emerge as the fastest-growing product category in Saudi Arabia over the coming years. The compact size of these heaters is an added bonus that promotes its use in urban settings. High focus on sustainability and energy conservation will also favor the growth of this segment.

Analysis by Capacity

In terms of capacity, small water heaters account for a dominant share of the Saudi Arabia water heater marketplace. Ease of use and compact size are factors that allow this segment to remain popular in Saudi Arabia going forward. Small water heaters are especially popular in residential settings where the living space is limited. High energy efficiency of these heaters also contributes to their high market share.

Surging demand for water heaters in commercial and residential settings is allowing medium-sized water heaters to experience the fastest growth in the Saudi Arabia water heater market. Medium-sized water heaters strike the perfect balance between capacity and efficiency, which makes them an ideal choice in a diverse set of applications. Expansion of commercial spaces in Saudi Arabia is projected to open up new avenues of opportunities for suppliers of medium-sized water heaters over the coming years. High awareness regarding the benefits of medium-sized water heaters over other types is also slated to boost growth in this segment in the long run.

Saudi Arabia water heater market by Capacity, 2022 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Saudi Arabia Water Heater Market Regional Insights

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.

Northern Saudi Arabia is projected to come up as the fastest-growing region over the coming years. This region is home to prominent cities such as Jeddah and Medina, which have witnessed significant economic development and infrastructure projects owing to the growing number of pilgrims. Medina’s religious significance and Jeddah’s significance as a major port city make them highly lucrative markets for water heaters in Saudi Arabia. Growing tourism activity in the country is also slated to benefit market growth in the future.

Saudi Arabia water heater market by Region, 2024-2031
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Saudi Arabia Water Heater Market Dynamics

Drivers

Rising Energy Efficiency Standards

  • 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.

Restraints

Fluctuating Raw Material Prices

  • Fluctuations in the pricing of raw materials required to manufacture water heaters could limit Saudi Arabia water heater market growth. High costs of electric components and other raw materials could diminish profit margins for companies and even make the end product expensive for consumers thereby leading to constrained market growth.

Request Free Customization of this report to help us to meet your business objectives.

Saudi Arabia Water Heater Market Competitive Landscape

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.

The incorporation of smart technologies and features to satisfy evolving consumer demands is also predicted to alter the Saudi Arabia water heater market growth trajectory. Rising energy costs and a high focus on sustainability are trends that water heater suppliers should focus on over the coming years. Domestic players can gain an edge over international water heater companies by leveraging specific marketing strategies.

Top Player’s Company Profiles

  • 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)

Recent Developments

  • In February 2024, Dahua Technology, a global leader in video-centric AIoT solutions and services, announced plans to establish its first overseas manufacturing facility. This development is made possible through a strategic partnership with Alat, a wholly-owned subsidiary of the Public Investment Fund (PIF) in Saudi Arabia. 
  • In December 2023, Ariston showcased its commitment to sustainability and its new brand direction, "The home of sustainable comfort," at the Big 5 2023 event. This drew the attention of hundreds of professionals from the construction industry over four days. One of the highlights was Ariston's sustainable comfort solutions, particularly heat pumps. These devices extract heat from the air and transfer it to water, representing environmentally conscious technology. They are especially beneficial in the GCC and the wider Middle East region, where they can significantly reduce electrical consumption. Buildings consume a considerable portion of global energy, and in the Middle East, where electricity demand is steadily increasing due to population growth, rising demand for cooling, and water desalination, technologies like heat pumps can help alleviate the pressure on energy production requirements. 
  • In June 2023, Amazon inaugurated a new fulfillment center in Riyadh, Saudi Arabia. This state-of-the-art facility represents Amazon's most advanced operation in the country and is strategically designed to position Saudi Arabia as the primary logistics hub for the region.

Saudi Arabia Water Heater Key Market Trends

  • 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.

Saudi Arabia Water Heater Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per our analysis, the Saudi Arabia water heater market is poised for robust growth owing to an increase in population and a high preference for energy-efficient appliances. Rising focus on sustainability and growing costs of electricity in Saudi Arabia are also estimated to promote sales of energy-efficient water heaters over the coming years. Looking ahead, the market is expected to witness a substantial influx of innovative products, particularly smart and connected electric water heaters. These technologically advanced solutions are projected to gain traction as consumers seek greater control over their water heating systems for convenience and energy savings. Fluctuation in raw material pricing is a constraint that will trouble all Saudi Arabia water heater market players.

Northern Saudi Arabia region is estimated to provide highly lucrative growth opportunities owing to growing tourism activity in cities such as Al Ula, and Medina. Local as well as international water heater manufacturers will continue to invest in research and development to meet evolving consumer preferences and improve their sales potential. Smart electric water heaters are projected to be high in demand in Saudi Arabia and this is a trend that could change the future of the Saudi Arabia water heater market.

Report Metric Details
Market size value in 2022 USD 179.9 million
Market size value in 2031 USD 224.67 million
Growth Rate 2.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Product
    • Storage and Instant
  • Capacity
    • Small Water Heater, Medium Water Heater, and Large Water Heater
  • End-user
    • Residential, Commercial, and Industrial
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Saudi Arabia Water Heater Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Saudi Arabia Water Heater Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Saudi Arabia Water Heater Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Saudi Arabia Water Heater Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Saudi Arabia Water Heater Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Saudi Arabia Water Heater Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$3,500
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Saudi Arabia Water Heater Market

Product ID: SQMIC30K2050

$3,500
BUY NOW GET FREE SAMPLE