Saudi Arabia Water Heater Market Overview:
The Saudi Arabia water heater market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Water heaters are electric or solar-powered appliances that are used to heat water. They comprise a heating coil enclosed in an electrically insulated body and a thermostat, which is required for controlling the temperature of the water stored in the tank. They are installed in households to heat water required for cleaning, cooking, washing, and bathing. They are also employed in the chemical industry for manufacturing solvents, solutions, and emulsions with warm water. They are utilized in hospitals, nursing homes, and laboratories to clean surgical tools, sanitizing containers, and washing surgical clothes.
The increasing installation of water heaters in hotels, motels, and resorts to provide hot water to the guests and clean surfaces and laundry represents one of the primary factors influencing the market positively in Saudi Arabia. Besides this, governing agencies in the country are undertaking initiatives to encourage the installation of energy-efficient water heaters in different industries to reduce electricity consumption. In addition, the growing adoption of solar-powered water heaters due to the rising environmental awareness is offering a favorable market outlook. Apart from this, the increasing use of water heaters in the food and beverage (F&B) industry to prepare various edible products, wash fruits and vegetables, and clean containers with hot and lukewarm water is contributing to the growth of the market. Additionally, the rising utilization of hot water in the textile and leather industry in Saudi Arabia to clean raw materials and dye fabrics is strengthening the growth of the market. Moreover, the escalating demand for water heaters to sanitize premises and prevent the spread of infectious diseases is bolstering the growth of the market in the country. Furthermore, the increasing employment of water bath heaters in the oil and gas industry to heat sensitive gases and liquified petroleum gas (LPG) is supporting the growth of the market.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the Saudi Arabia water heater market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry.
The report analyses the competitive structure of the Saudi Arabia water heater market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the Saudi Arabia water heater market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the Saudi Arabia water heater market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the Saudi Arabia water heater market industry. Furthermore, the value chain analysis of the Saudi Arabia water heater market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
Saudi Arabia Water Heater Market Segment Insights:
The Saudi Arabia water heater market has been analysed as followed:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of the leading players operating in the market are:
Highlights of the Saudi Arabia Water Heater Market Report:
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