Summary

The Saudi Arabia water heater market is being pushed primarily by rising disposable income levels and increasing residential applications of warm water such as cooking, bathing, cleaning, and space heating. In addition, resorts and hotels have increasingly begun to use hot water to meet the needs of their customers. This, in turn, has increased demand for water heaters throughout the region. Furthermore, water heaters are used in a variety of manufacturing industries, such as thermal power plants, food and beverage processing, and chemicals, which is supporting market expansion. Furthermore, manufacturers are utilizing different technological developments and advancements in order to introduce a low-cost and efficient water heater, which has a direct impact on market growth. The government's emphasis on renewable energy has resulted in an increase in demand for solar water heaters in Saudi Arabia. To meet this need, companies are introducing new and creative solar water heater solutions. Furthermore, the use of smart water heaters: Smart water heaters are becoming increasingly popular in Saudi Arabia due to their energy-saving capabilities and convenience. Many firms are releasing smart water heaters that include features such as remote control, Wi-Fi connectivity, and automated temperature management. Tankless water heaters are also becoming increasingly popular in Saudi Arabia due to their small size, energy efficiency, and continuous supply of hot water, tankless water heaters are becoming increasingly popular in Saudi Arabia. In order to accommodate the demand, companies are producing new tankless water heaters with innovative features.

According to the research report "Saudi Arabia Water Heater Market Overview, 2028," published by Bonafide Research, the Saudi Arabia Water Heater market is expected to reach market size of more than USD 800 Million by 2028. Saudi Arabian water heaters have a distinct specialization due to the country's distinct environment, cultural beliefs, and economic reasons. Given the arid and hot desert climate, there is a strong demand for dependable and efficient water heaters, especially during the scorching months. Water heaters are an essential component of Saudi houses, providing a steady supply of hot water for daily requirements like bathing and cooking. The desert environment influences people's desire for solar water heaters, which use the abundant sunlight to produce energy-efficient and cost-effective water heating options. In keeping with Arabian hospitality cultural norms, Saudi houses frequently prioritize giving guests a pleasant and comfortable experience, highlighting the need for trustworthy water heaters. Furthermore, the Saudi government's dedication to energy efficiency and sustainability has resulted in the establishment of legislation and incentives encouraging the use of energy-efficient water heaters such as electric, solar, and heat pump systems. As a result, the Saudi water heater market is defined by a blend of traditional values, climate-driven demand, and a growing emphasis on eco-friendly and energy-efficient solutions, distinguishing it as a distinct and emerging sector within the country's household appliance industry. Furthermore, as the Kingdom works to diversify its economy and reduce its reliance on oil, there is a greater emphasis on energy savings and sustainability. This focus extends to the water heater sector, where there is a noticeable trend toward the adoption of energy-efficient technologies that correspond with Saudi Arabia's broader aim for a greener and more sustainable future.

Based on product type market is divided into electric, solar and gas. Saudi Arabia has traditionally relied heavily on oil for electricity generation and water heating. However, the government is actively seeking to diversify its energy sources to reduce its dependence on oil. Electric water heaters are a part of this energy diversification strategy, as they can be powered by electricity generated from various sources, including renewables. The Saudi Arabian government has introduced initiatives and incentives to promote the use of electricity in water heating. These incentives may include subsidies, grants, and programs that encourage the adoption of energy-efficient appliances, including electric water heaters. In terms of technology market is divided into tankless, storage and hybrid. Modern storage water heaters have better insulation and energy-efficient heating elements built into their construction. This improves their general energy efficiency, appealing to Saudi Arabian consumers who are becoming more aware of energy usage and cost savings. Many Saudi Arabian households have historically chosen storage water heaters to heat their water. Due to its widespread use over a long period of time, consumers are frequently familiar with it and might feel more at ease using it.

Based on capacity market is divided into 30 litres, 30-100 litres, 100-250 litres, 250-400 litres, above 400 litres. Large residential complexes, hotels, hospitals, and other commercial and industrial buildings frequently employ water heaters with capacities beyond 400 liters. High-capacity water heaters are in high demand in Saudi Arabia as a result of the expansion of these industries and the large hot water demands of these facilities. With the opening of new tourist locations and attractions, Saudi Arabia's tourism sector is expanding significantly. To meet the high occupancy rates and various hot water needs of guests, hotels and resorts that cater to tourists need huge hot water storage tanks. Energy-efficient features, like better insulation and heating elements, are frequently included in contemporary high-capacity water heaters. Energy efficiency is a crucial factor for companies looking to cut operating expenses and environmental impact. In terms of application market is divided into residential and commercial. commercial application is expected to grow at fastest rate in Saudi Arabia water heater market.

Considered in this report:
• Geography: Saudi Arabia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Saudi Arabia Water Heater market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

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 as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic 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 doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

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

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