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IMARC Group has published a market research report titled "Saudi Arabia Water Heater Market Report by Type (Storage Covering Water Heater, Solar Water Heater, Instant Water Heater), End-Use (Residential, Commercial, Industrial) 2024-2032" offers a comprehensive analysis of the industry, which comprises insights on the Saudi Arabia water heater market outlook report. The market size reached US$ 184.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 225.3 Million by 2032, exhibiting a growth rate (CAGR) of 2.2% during 2024-2032.
A water heater is an essential household appliance that is designed to heat water for various domestic purposes. It plays a crucial role in providing hot water for activities such as bathing, cooking, cleaning, and more. Water heaters come in different types, including tankless, storage tank, and heat pump water heaters, each with its own set of advantages and functionalities. Tankless water heaters, also known as on-demand water heaters, heat water only when it is needed, providing a continuous supply of hot water without the need for a storage tank. Storage tank water heaters, on the other hand, store and continuously heat a specific amount of water in a tank, ensuring hot water is readily available. Heat pump water heaters use electricity to transfer heat from the air or ground to heat the water, making them energy-efficient options.
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Saudi Arabia Water Heater Market Trends and Drivers:
Saudi Arabia has experienced a consistent increase in its population over the years. A growing population translates to higher housing demand, which, in turn, boosts the demand for water heaters in residential buildings. As more households are established, the need for hot water for various purposes increases. Additionally, Saudi Arabia has been investing heavily in infrastructure and urban development. This economic growth has led to the construction of new residential and commercial buildings, all of which require efficient water heating solutions. This surge in construction activities is a significant driver of the water heater market. Other than this, Saudi Arabia has introduced regulations and standards to promote energy-efficient appliances, including water heaters. Consumers are increasingly seeking energy-efficient models to reduce electricity consumption and lower their utility bills. Manufacturers are responding by developing energy-efficient water heaters to meet this demand. Besides this, as the standard of living in Saudi Arabia continues to improve, consumers have more disposable income to invest in modern appliances. Many are willing to pay a premium for technologically advanced and feature-rich water heaters that offer convenience and long-term savings. In line with this, the need for water heater replacements in existing homes and buildings also contributes significantly to market growth. As older units become outdated or less efficient, consumers opt for newer models, bolstering sales.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Offering:
Hardware
Lights and Luminaires
Lighting Controls
Software
Services
Design and Engineering
Installation
Post-Installation
Breakup by Communication Technology:
Wired Technology
Wireless Technology
Breakup by Installation Type:
New Installation
Retrofit Installation
Breakup by Light Source:
LED Lamps
Fluorescent Lamps
Compact Fluorescent Lamps
High Intensity Discharge Lamps
Others
Breakup by Application:
Commercial
Residential
Public Infrastructure
Others
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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