GCC Water Heater Market Growth Report, Segments, Product Type and Forecast 2023

According to the latest report by IMARC Group, titled, “GCC Water Heater Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, the GCC water heater market reached US$ 877.2 Million in 2022. Looking forward, the market expected to reach US$ 1,309.1 Million by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.

Water heaters are appliances that utilize energy sources to heat the supplied water across residential, commercial and industrial spaces. Commonly powered by either gas or electricity, these heaters are connected to a water source to supply hot water across various fixtures, including taps and showers. These heaters are available in a variety of shapes and sizes, along with varying storage capabilities, to meet the requirements of the users. Since they are required for numerous applications, such as bathing, washing clothes, goods manufacturing, and cleaning and sanitizing surgical instruments, they form an integral part of the hospitality, healthcare, paper manufacturing and food and beverage sectors in the region.

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GCC Water Heater Market Trends:

There is a growing demand for warm and hot water primarily from the residential sector for executing daily chores, which is significantly contributing to the rising uptake of water heaters. Additionally, these heaters are easy to install, have a longer life span and require lower maintenance as compared to conventional heating systems, which is providing a thrust to the market growth.

The bourgeoning tourism and hospitality sector is another major growth-inducing factor in the region. Numerous hotels and resorts are increasingly installing highly efficient heaters to offer a luxurious experience to their customers. Furthermore, enhanced focus toward sustainable development has led the users to shift toward solar-powered water heaters, which are creating a positive outlook for the market. Similarly, tank-less variants are gaining widespread popularity in the region since they are energy-efficient and occupy negligible space.

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The report has segmented the market on the basis of Product Type, End-Use and Region.

Market Breakup by Product Type

Storage Covering Water HeaterSolar Water HeaterInstant Water Heater

Market Breakup by End-Use Sector

ResidentialCommercialIndustrial

Market Breakup by Region

Saudi ArabiaUAEQatarKuwaitOmanBahrain

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