Water Heater Market Trends 2025-2033

The global water heater market, valued at USD 30.72 billion in 2024, is expected to reach USD 48.16 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.12% during 2025–2033. Rising demand for energy-efficient heating solutions, rapid urbanization, and increasing residential and commercial construction projects are driving market growth.

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