Europe Water Heater Market Outlook, 2028

The market for water heaters in Europe is a vibrant and constantly changing industry, influenced by shifting consumer demands, environmental concerns, and technological breakthroughs. The market for water heaters is undergoing substantial change as homes and businesses in Europe continue to look for energy- and environmentally-friendly solutions to meet their hot water needs. The water heater market in Europe includes a wide range of technologies, such as solar and heat pump water heaters, tankless (on-demand) water heaters, and storage tank water heaters. The different needs of the residential, commercial, and industrial sectors are met by these technologies across the continent. Europe has made energy efficiency a top priority, which has increased demand for water heaters that use less energy. Water heaters are now more energy-efficient because of advancements in insulation, heating components, and control systems, which lower operating costs and leave a smaller carbon imprint. Many European nations are promoting the use of renewable energy sources in water heating systems, with a particular emphasis on sustainability. Due to their capacity to capture energy from the sun or the environment, heat pumps and solar water heaters are becoming more and more common. Smart technology is increasingly being used in water heaters. Through smartphone apps or home automation systems, smart water heaters provide remote management, energy monitoring, and scheduling features, giving customers greater control and efficiency. National laws and European Union directives both have a big impact on the water heater sector. Innovation and compliance in the sector are fueled by safety requirements, emission reduction goals, and energy efficiency norms. Energy-efficient water heater use is encouraged by rising energy costs in Europe. The goal of consumers is to lower their utility costs by purchasing energy-efficient appliances.

According to the research report, “Europe Water Heater Market Outlook, 2028” published by Bonafide Research, the market is expected to add more than USD 3 Billion from 2023 to 2028. The demand for water heaters in residential and commercial construction projects has expanded as a result of urbanization and infrastructural development in rising European markets. A sizable percentage of the market is driven by the requirement to replace outdated water heating systems. Demand is also increased by consumers switching to more efficient models. The water heater market is changing dramatically in Europe, reflecting the continent's dedication to energy efficiency, sustainability, and technical advancement. The rising importance of energy efficiency is one of the most prominent trends. European consumers are aggressively looking for water heaters that may drastically reduce energy use due to rising energy prices and growing environmental concerns. In order to reduce heat loss and maximize energy utilization, manufacturers are reacting by introducing enhanced insulating materials, energy-efficient heating elements, and sophisticated control systems. The popularity of hybrid water heaters, which incorporate features of both tankless and conventional storage systems, is growing. These hybrid units provide the best of both worlds by offering quick heating and a continuous supply of hot water, making them adaptable for a variety of applications. Due to their great energy efficiency, heat pump water heaters—which draw heat from the ground or the air are becoming more and more popular. They are increasingly employed in both residential and commercial applications and are especially well-suited for areas with moderate weather. Space is becoming more valuable in homes and structures as urbanization continues. In response, producers of water heaters are coming up with smaller, more streamlined models that are simpler to install in confined places.

Based on report market is divided into Germany, United Kingdom, France, Italy, Spain and Russia. Among them Germany is expected to lead the market of Europe.

The water heater industry in Germany, which is recognized for its engineering prowess and dedication to environmental sustainability, is undergoing a significant change. As the nation works to reduce its carbon footprint and transition to renewable energy sources, the water heater industry is transforming in order to achieve these goals. One of the most important trends in the German water heater market is the growing use of renewable energy sources for water heating. People are using solar thermal heat pumps and water heaters more frequently as they search for environmentally friendly products that reduce their carbon footprint. Energy efficiency has risen to the top of the agenda in Germany. Consumers choose water heaters with high energy efficiency ratings, such as those with improved insulation and intelligent control systems, to optimize energy use. The revolutionary Energiewende policy from Germany aims to make the nation a low-carbon, renewable-energy economy. This policy incorporates rewards and penalties that promote the use of water heaters and other energy-efficient and renewable technology. This sets the market apart and connects it to the national energy plan. German consumers are renowned for placing a high value on a product's quality and durability. They usually spend more money on durable, dependable water heaters with longer lifespans. In contrast to marketplaces where less-priced, shorter-lived alternatives might be preferred, this inclination towards long-term durability In Europe, Germany is a leader in the adoption of solar thermal technology. Popular are solar thermal water heaters, which warm water by utilizing sunlight. This method is especially popular because of the country's dedication to renewable energy and subsidies for solar systems.

Based on product type market is divided into electric, solar and gas. Among them electric product type is dominating the market of Europe.



Modern electric water heaters are becoming more energy-efficient as a result of advancements in insulation, heating elements, and control systems. These developments result in less heat loss and more overall efficiency, which appeals to users looking to cut their energy consumption and expenditures. Europe has a dependable and vast electricity grid, which ensures consistent availability of electricity in most places. Because of this, electric water heaters are a viable option for a wide range of residential, commercial, and industrial applications. Electric water heaters emit no direct emissions at the point of use, which conforms to Europe's severe environmental rules and sustainability goals. This is especially significant in areas where lowering carbon emissions is a high concern. Electric water heaters are simple to install because they do not require gas lines or ventilation systems. Because of their ease of installation, they are appropriate for a variety of situations, including flats, residences, offices, and industrial sites. Electric water heaters are built to fulfill high safety and energy efficiency regulations, ensuring the safety of consumers and the quality of the product. Compliance with EU directives and national legislation plays an important role in their dominance. Electric water heaters are available in a variety of sizes and designs to meet the varying hot water needs of consumers. This adaptability enables consumers to select models that best meet their unique needs.

Based on technology market is bifurcated into tankless, storage and hybrid. Storage technology is predicted to lead the market of Europe.

Storage water heaters are well-known for providing a continuous and dependable supply of hot water. Storage technology shines in residential and commercial situations where a continuous hot water supply is required. Storage water heaters have been in use in Europe for a long time, and many users are familiar with their operation and maintenance. Because of this familiarity, they are a reliable choice for both home and business applications. Storage water heaters are available in a variety of capacities to meet a variety of hot water needs. Customers can select models that meet the individual demands of their households or enterprises, giving them flexibility and variety. Storage water heaters are generally simple to build, require little infrastructure, and frequently replace older systems without any adjustments. This ease of installation is a significant benefit, particularly in retrofitting settings. Storage water heaters can be combined with renewable energy sources such as solar panels, in keeping with Europe's emphasis on sustainability. This integration minimizes dependency on traditional energy sources while also lowering carbon emissions. Many storage water heaters have two heating elements, which allows for faster heating and recovery times. This capability is very useful in high-demand scenarios.
In terms of Capacity market is divided into below 30 litres, 30-100 litres, 100-250 litres, 250-400 litres, and above 400 litres. Based on application market is divided into residential and commercial.

European countries have implemented stronger energy efficiency norms and standards in order to reduce energy usage and greenhouse gas emissions. Smaller-capacity water heaters are frequently more energy-efficient than larger ones since they heat water as needed and use less power or gas. Consumers are increasingly opting for smaller versions in order to meet energy efficiency standards. European cities are rapidly urbanizing, resulting in fewer living spaces in apartments and houses. Smaller water heaters are better suited to these tiny living settings because they take up less room and are easier to install in tight places. Smaller water heaters are often less expensive to buy, install, and run. Consumers are looking for ways to cut their utility bills as energy prices rise. Smaller-capacity water heaters can supply enough hot water for everyday needs while being less expensive in the long run. Demographic developments in Europe, such as an aging population and smaller home sizes, are impacting demand for smaller water heaters. Smaller families frequently have lower hot water demands, making smaller-capacity heaters more appropriate. Residential application is the major end-user of water heater in Europe. Europe's housing stock includes single-family homes, apartments, and condominiums. Water heaters are often required in each of these dwelling types to supply the hot water needs of residents. Personal hygiene and cleanliness are frequently emphasized in European culture and lifestyle, resulting in a greater demand for hot water in home settings. This is especially true during the colder months, when hot water is crucial for comfort. Many sections of Europe have cold winters, necessitating the use of hot water for space heating and residential purposes. Residential water heaters are crucial in providing warmth and comfort during these cold spells.

Companies Covered in this report:

Robert Bosch GmbH, A. O. Smith, Ariston Holding N.V., Rinnai Corporation, Bradford White Corporation, Noritz Corporation, Whirlpool Corporation , Haier Group Corporation, Havells India Ltd, Ferroli S.p.A., Stiebel Eltron, Inc., Electrolux AB, Midea Group.

Considered in this report:

• Geography: Europe
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Europe Water Heater market Outlook with its value and forecast along with its segments
• Country-wise Water Heater market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By Product:

• Electric
• Solar
• Gas

By Technology:

• Tankless
• Storage
• Hybrid

By Capacity:

• Below 30 Litres
• 30-100 Litres
• 100-250 Litres
• 250-400 Litres
• Above 400 Litres

By Application:

• Residential
• Commercial

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Water Heater industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.