GCC Water Heater Market Trends, Scope, Demand, Opportunity and Forecast by 2025
According to the latest report by IMARC Group, the GCC water heater market size is projected to reach US$ 439.9 Million by 2025, expanding at a CAGR of 15.9% during 2020-2025.
A water heater refers to an appliance that heats up the cold or normal water supplied through a system of pipes. This heated water can be used for numerous purposes, such as bathing, washing, heating, etc. Based on their storage capacity and energy efficiencies, water heaters are available in different variants, such as condensing gas water heaters, heat pump water heaters, gas and electric tankless systems, etc.
The inflating consumer disposable income levels, improving living standards, and rising domestic applications of warm water for cooking, bathing, cleaning, etc., are primarily driving the GCC water heater market. Furthermore, the expanding applications of water heaters across several industries, such as food and beverage processing, power generation, chemicals, etc., are also catalyzing the market growth in the GCC region. Moreover, various manufacturers are extensively investing in R&D activities to launch advanced, low-cost, and energy-efficient water heaters, which are expected to further propel the market in the coming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The report has segmented the market on the basis of Product Type, End-Use and Region.
Market Breakup by Product Type
- Storage Covering Water Heater
- Solar Water Heater
- Instant Water Heater
Market Breakup by End-Use Sector
Market Breakup by Region
- Saudi Arabia
For more information about this report visit: https://www.imarcgroup.com/gcc-water-heater-market
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