Report Description

Forecast Period

2025-2029

Market Size (2023)

USD285.85 Million

CAGR (2024-2029)

7.15%

Fastest Growing Segment

Electric Water Heater

Largest Market

North

Market Overview

India Water Heaters Market has valued at USD285.85 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 7.15% through 2029. The India water heaters market is a thriving sector within the country's consumer electronics and appliances industry. As a nation with diverse climatic conditions, the demand for water heaters is substantial, driven by the need for hot water in various applications, from bathing and cleaning to kitchen use. This market encompasses a wide range of water heater types, including tankless (instantaneous), storage tank, solar-powered, and heat pump water heaters.

The India water heaters market has experienced steady growth over the years, primarily due to rising urbanization, increasing disposable incomes, and a growing awareness of energy-efficient appliances. With a population of over 1.3 billion people, the market potential is immense, and it continues to expand as more households adopt water heating solutions.

Tankless water heaters, also known as instantaneous or on-demand water heaters, have gained popularity for their energy efficiency and space-saving design. They heat water only when needed, reducing energy consumption and utility bills. Traditional storage tank water heaters are widely used in Indian households. These appliances store and heat a specific quantity of water, making it readily available for various applications. They are available in various capacities to suit different household needs.

Solar-powered water heaters are environmentally friendly and harness solar energy to heat water. They are gaining traction in regions with abundant sunlight, as consumers seek sustainable and cost-effective heating solutions. Heat pump water heaters use electricity to transfer heat from the air or ground to heat water, making them energy-efficient alternatives to traditional electric water heaters.

Rapid urbanization has led to an increased demand for home appliances, including water heaters, in urban areas where centralized heating systems are less common. Consumers are increasingly focused on energy efficiency and cost savings. Tankless and heat pump water heaters are preferred for their lower energy consumption and reduced operational costs. Government incentives and subsidies for solar water heaters have boosted adoption. Programs aimed at promoting energy-efficient appliances also contribute to market growth. Growing awareness of the benefits of energy-efficient and eco-friendly appliances, as well as the convenience of instant hot water, drives consumer interest in water heaters.

The India water heaters market is expected to continue its growth trajectory, driven by factors such as urbanization, increasing consumer awareness, government initiatives, and a focus on energy efficiency. Manufacturers are likely to innovate further to meet evolving consumer preferences and offer more environmentally friendly and cost-effective solutions. As the market matures, competition among brands is expected to intensify, leading to more choices for consumers and potentially driving down prices.

Key Market Drivers

Changing Consumer Lifestyles and Preferences

One of the primary drivers behind the growth of the India water heaters market is the evolving lifestyle and preferences of consumers. As urbanization accelerates, more people are residing in apartments and high-rise buildings where centralized heating systems may not be as effective or cost-efficient. This has led to a surge in the demand for individual water heaters that can provide hot water on demand.

Furthermore, consumer preferences have shifted towards convenience and energy efficiency. Modern consumers seek water heaters that offer features like quick heating, temperature control, and energy-saving modes. These preferences have prompted manufacturers to innovate and develop water heaters with advanced technologies to meet these evolving needs.

Another aspect of changing lifestyles is the increasing adoption of luxurious bathrooms and modern kitchen setups. Homeowners and builders are now incorporating water heaters as an essential part of these spaces, contributing to the overall aesthetics and functionality of the home. This aesthetic integration drives the market for aesthetically pleasing and compact water heaters that complement the interior design of homes.

Additionally, the rise in disposable income levels, particularly among the middle class, has made consumers more willing to invest in high-quality water heaters that offer long-term reliability and efficiency. This willingness to spend on premium products has created opportunities for manufacturers to introduce advanced, feature-rich water heaters in the market.


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Energy Efficiency and Environmental Concerns

Energy efficiency and environmental sustainability have become critical considerations in the India water heaters market. As awareness of environmental issues grows, consumers are increasingly conscious of their carbon footprint and energy consumption. This awareness has led to a strong demand for energy-efficient water heating solutions.

Manufacturers are responding by developing water heaters with technologies like heat pumps and solar panels, which harness renewable energy sources to heat water. These eco-friendly options not only reduce electricity consumption but also align with government initiatives promoting sustainable energy usage.

Moreover, the Indian government has implemented energy efficiency standards and regulations, encouraging the adoption of energy-efficient appliances, including water heaters. The Bureau of Energy Efficiency (BEE) has introduced star ratings for water heaters, helping consumers identify products that meet specific energy efficiency criteria. This initiative has further propelled the market for energy-efficient water heaters.

Technological Advancements and Innovation

Technological advancements have played a pivotal role in driving innovation within the India water heaters market. Manufacturers are continually investing in research and development to introduce cutting-edge features and functionalities in their products.

One significant technological advancement is the development of tankless or instant water heaters. These heaters heat water on demand, eliminating the need for a storage tank and reducing energy wastage. Tankless water heaters have gained popularity due to their space-saving design and energy efficiency.

Another noteworthy innovation is the incorporation of smart technology into water heaters. Smart water heaters can be controlled remotely via smartphone apps, allowing users to adjust temperature settings and monitor energy consumption. This level of control and convenience resonates with tech-savvy consumers, driving the adoption of smart water heaters.

Furthermore, manufacturers are enhancing the durability and longevity of water heaters through better materials and construction techniques. This ensures that consumers get value for their money and reduces the need for frequent replacements, contributing to sustainability goals.

Key Market Challenges

Intense Competition and Price Sensitivity

One of the most formidable challenges in the India water heaters market is the intense competition among manufacturers and brands. The market is inundated with numerous local and international players, each vying for a larger share of the consumer base. While competition can foster innovation and variety, it also leads to price wars and thin profit margins.

Price sensitivity among Indian consumers is a critical factor. Many buyers are looking for affordable water heating solutions, especially in the lower and middle-income segments. This has led to a significant demand for budget-friendly water heaters, which in turn, puts pressure on manufacturers to optimize production costs without compromising product quality.

To address this challenge, manufacturers must strike a delicate balance between offering competitively priced water heaters and maintaining profitability. This often involves investing in efficient manufacturing processes, sourcing cost-effective components, and exploring economies of scale.

Energy Efficiency and Environmental Concerns

Energy efficiency and environmental sustainability have gained prominence in recent years as global awareness of climate change and resource conservation has increased. In the context of the water heaters market, energy efficiency is a significant concern.

Traditional water heaters, such as electric storage geysers, are notorious for their high energy consumption, leading to increased electricity bills and environmental impact. To address these concerns, consumers are increasingly seeking energy-efficient alternatives, such as solar water heaters and heat pump water heaters, which are often more expensive upfront but offer long-term savings.

Manufacturers face the challenge of meeting the growing demand for energy-efficient water heaters while maintaining affordability. Investing in research and development to improve the energy efficiency of their products is crucial. Additionally, educating consumers about the long-term benefits of energy-efficient water heaters can help overcome resistance to higher initial costs.

Regulatory bodies have also introduced energy efficiency standards for water heaters to curb energy consumption and reduce environmental impact. Complying with these standards can be a challenge for manufacturers, but it is essential for both market competitiveness and environmental responsibility.

Infrastructure and Regional Disparities

India's water heaters market faces infrastructure and regional disparities that affect product distribution and adoption. While urban areas enjoy relatively stable electricity and water supply, rural regions often grapple with frequent power cuts and limited access to piped hot water.

Inconsistent electricity supply can be detrimental to the operation of electric water heaters, leading to reduced customer satisfaction and reliability issues. Solar water heaters are a more sustainable option in areas with ample sunlight, but they require an upfront investment and may not be suitable for regions with limited sun exposure.

Addressing these challenges requires a multi-faceted approach. Manufacturers should consider developing hybrid water heaters that can switch between electricity and solar power based on availability. Government initiatives and subsidies can also promote the adoption of solar water heaters in rural areas, where they can have a significant impact on reducing electricity demand.

Key Market Trends

Energy Efficiency and Sustainability

One of the most prominent trends in the India water heaters market is the increasing emphasis on energy efficiency and sustainability. This shift is primarily driven by the growing awareness of environmental concerns, rising energy costs, and the desire to reduce carbon footprints. As a result, manufacturers and consumers alike are actively seeking eco-friendly and energy-efficient water heating solutions.

Solar Water Heaters: Solar water heaters have gained considerable traction in India due to their eco-friendly nature. The abundant sunlight in many parts of the country makes solar water heaters a viable and sustainable option. Government incentives and subsidies have further encouraged the adoption of solar-powered water heating systems.

High-Efficiency Electric and Gas Heaters: Manufacturers are introducing electric and gas water heaters with advanced insulation and heating technologies to minimize heat loss and maximize energy efficiency. These appliances are designed to heat water quickly while conserving energy, thus reducing electricity or gas consumption.

Heat Pump Water Heaters: Heat pump water heaters, which extract heat from the surrounding air to warm the water, have gained popularity. They are significantly more energy-efficient than traditional electric resistance water heaters. Although they have a higher upfront cost, their long-term energy savings make them an attractive choice for environmentally conscious consumers.

Smart Water Heaters: Smart water heaters with programmable features and remote control capabilities allow users to optimize energy usage. Consumers can schedule heating times to coincide with off-peak electricity hours, reducing energy bills and minimizing the environmental impact.

Digitalization and Connectivity

The digitalization of home appliances has extended to the water heaters market in India, ushering in a new era of connectivity and convenience. Smart water heaters equipped with advanced features and remote monitoring capabilities are gaining popularity among tech-savvy consumers.

Mobile Apps and Remote Control: Many water heater manufacturers now offer mobile apps that allow users to control and monitor their water heaters remotely. This feature enables consumers to adjust temperature settings, set timers, and receive notifications about maintenance requirements or potential issues, enhancing user convenience.

Voice Control Integration: Some smart water heaters can be integrated with virtual voice assistants like Amazon Alexa and Google Assistant. Users can control the water heater through voice commands, making it even more convenient and hands-free.

Energy Consumption Insights: Smart water heaters provide real-time data on energy consumption, helping users track their usage patterns and make informed decisions to reduce energy consumption and costs.

Diagnostic Capabilities: These appliances often come with diagnostic features that can detect potential malfunctions or issues, allowing homeowners to address problems proactively and avoid costly repairs.

Hybrid Water Heaters

Hybrid water heaters are gaining momentum in the India market due to their ability to combine multiple heating technologies for efficient water heating. These appliances typically use a combination of heat pump technology and conventional electric heating elements.

Efficiency and Cost Savings: Hybrid water heaters are highly efficient and can reduce electricity consumption compared to traditional electric heaters. They work by extracting heat from the surrounding air, making them an excellent choice for regions with temperate climates.

Versatility: Hybrid water heaters are versatile and can operate in various modes. They can function solely on the heat pump, electric resistance, or a combination of both, depending on the demand for hot water and ambient conditions.

Quick Payback Period: While hybrid water heaters may have a higher initial cost, their energy-saving capabilities result in lower operating costs and a relatively quick payback period. This cost-effectiveness makes them an attractive choice for consumers looking for long-term savings.

Segmental Insights

Product Type Insights

The India Water Heaters Market encompasses various types of water heating solutions, but the Electric Water Heater segment stands out as a cornerstone, holding a significant share and playing a pivotal role in shaping the dynamics of the entire industry. Electric water heaters have become an integral part of daily life in India, providing reliable and efficient hot water solutions for both residential and commercial purposes.

Electric water heaters offer unmatched convenience by providing hot water on-demand, eliminating the need to heat water separately on stoves or using alternative methods. This accessibility has made electric water heaters a preferred choice for millions of Indian households.

India's rapid urbanization has led to changing lifestyles and increased expectations of comfort and convenience. Electric water heaters perfectly align with these modern living standards, making them highly sought-after in urban areas.

Modern electric water heaters are designed to be energy-efficient, reducing electricity consumption while maintaining optimal heating performance. This eco-friendly aspect appeals to environmentally conscious consumers.

Electric water heaters come in various sizes and configurations, including compact models suitable for smaller spaces. This versatility makes them suitable for apartments, homes, and even commercial establishments with limited room for traditional water heaters.

Electric water heaters feature rapid heating technology, which ensures that users have access to hot water almost instantly. This quick heating capability is particularly appreciated during chilly winters.

The market offers a wide variety of electric water heater models, including storage water heaters, instant water heaters, and hybrid heat pump water heaters. Consumers can choose the type that best suits their needs and preferences.

Electric water heaters are equipped with safety features such as automatic temperature control, pressure relief valves, and thermal cutoffs to prevent accidents and ensure user safety.

The ongoing expansion of residential and commercial real estate projects across India has driven the demand for water heaters. Electric models are often preferred due to their ease of installation and compatibility with modern buildings.

Sales Channel Insights

The online sales channel has emerged as a formidable player in the India Water Heaters Market, revolutionizing the way consumers purchase these essential home appliances. As an integral component of the country's heating and cooling industry, water heaters are in high demand, and the online sales channel has significantly impacted the market landscape.

Online platforms provide consumers with unparalleled convenience and accessibility. Shopping for water heaters online allows customers to browse a wide range of products, compare specifications, read reviews, and make informed purchase decisions from the comfort of their homes or workplaces. This convenience is particularly attractive to busy urban dwellers.

Online retailers offer a diverse array of water heaters, catering to various preferences and needs. Customers can choose from different types of water heaters, including storage water heaters, instant water heaters, solar water heaters, and heat pumps. They can also explore a variety of brands, sizes, and price ranges to find the most suitable option.

Online platforms often feature competitive pricing due to reduced overhead costs compared to brick-and-mortar stores. This affordability appeals to cost-conscious consumers looking for value-for-money water heaters.

Online shopping allows customers to access detailed product information, specifications, and customer reviews. This transparency empowers buyers to make well-informed decisions and select water heaters that align with their requirements and budgets.

Online retailers frequently run promotional campaigns and offer discounts, making water heaters more affordable for consumers. Seasonal sales events and exclusive online deals further incentivize purchases through this channel.

The online sales channel has a vast reach, extending its services to urban and rural areas alike. Even customers in remote locations can access a wide range of water heaters, overcoming geographical limitations associated with traditional retail outlets.

Many online platforms offer installation services or provide information on qualified technicians for installation. This end-to-end service ensures a hassle-free experience for customers purchasing water heaters online.


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Regional Insights

The South Region of India has emerged as a significant region in the India Water Heaters Market, contributing substantially to the growth and evolution of this essential home appliance sector. Comprising states like Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Telangana, the South region's influence on the water heaters market is underpinned by several key factors.

Climate Diversity: The South region experiences a diverse climate, with coastal areas, hill stations, and semi-arid zones. This climate variation results in varying hot water requirements throughout the year, making water heaters a vital appliance for both hot water supply and climate comfort.

Urbanization and Real Estate Development: Rapid urbanization in cities like Bengaluru, Chennai, and Hyderabad has led to extensive real estate development. As a consequence, the demand for water heaters has surged, with new residential complexes and commercial spaces requiring water heating solutions.

Energy Efficiency Concerns: South India, particularly states like Kerala and Tamil Nadu, often grapples with power shortages and fluctuating electricity supply. This concern has spurred a growing interest in energy-efficient water heaters, including solar water heaters and energy-saving electric models.

Preference for Warm Water Bathing: South Indians have a cultural inclination toward warm water bathing, especially during the cooler months. This cultural preference for warm water in daily routines fuels the demand for water heaters in households.

Growing Awareness of Health Benefits: South Indians are increasingly aware of the health benefits associated with using warm water for drinking and bathing. This awareness has led to an uptick in the adoption of water heaters to meet these health-conscious requirements.

Government Initiatives: Several states in the South region have implemented government initiatives to promote energy efficiency and the use of renewable energy sources. This includes subsidies and incentives for solar water heaters, encouraging their adoption among consumers.

Technological Advancements: Water heater manufacturers in the South region have been quick to embrace technological advancements. This has led to the development of more efficient and eco-friendly water heating solutions that cater to modern consumer demands.

Recent Developments

  • In 2023, Midea, the world's leading water heater manufacturer, has announced the launch of its latest Energy Efficient Water Heaters in India. The new VD Series features a convenient and compact square-shaped design, complementing kitchen and bathroom decor while fitting seamlessly into existing spaces. With its elegant design and reliable performance, the VD Series ensures year-round comfort and convenience.
  • In 2023, Havells India introduces its new range of water heaters - the 'Unconventionally Beautiful' Otto and Orizzonte. These water heaters combine an elegant design, advanced technology, and safety features. The Otto water heater features a unique circular design, a temperature setting knob for personalized heating, and a colour-changing LED indicator that transitions from blue to amber as the water heats to the desired temperature.
  • In 2023, O. Smith, a renowned manufacturer of water heating and water treatment products, unveils its latest water heater in India, the Elegance Prime. This five-star-rated water heater, certified by the Bureau of Energy Efficiency (BEE), offers an array of features. These include the innovative RRID (Rust Resistant Integrated Diffuser) Technology, which enhances hot water output and reduces energy costs. The Elegance Prime also boasts a Blue Diamond™ glass-lined tank and a state-of-the-art heating element, ensuring corrosion resistance and unparalleled durability, even in the most challenging water conditions.  

Key Market Players

  • Racold Thermo Private Limited
  • Havells India Limited
  • Bajaj Electricals Ltd.
  • V-Guard Industries Ltd.
  • A.O. Smith India Water Products Pvt. Ltd.
  • Crompton Greaves Consumer Electricals Ltd
  • Venus Home Appliances (P) Ltd.
  • Orient Electric Limited
  • Usha International Limited
  • Ken Lifestyles Private Limited  

 By Product Type

 By Sales Channel

By Region

  • Electric Water Heater
  • Gas Water Heater
  • Supermarkets/Hypermarkets
  • Multi-Branded Stores
  • Online
  • Others
  • North
  • West
  • East
  • South

 

Report Scope:

In this report, the India water heaters market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • India Water Heaters Market, By Product Type:

o   Electric Water Heater

o   Gas Water Heater

  • India Water Heaters Market, By Sales Channel:

o   Supermarkets/Hypermarkets

o   Multi-Branded Stores

o   Online

o   Others                

  • India Water Heaters Market, By Region:

o   North

o   South

o   East

o   West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Water Heaters market.

Available Customizations:

India Water Heaters Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

India Water Heaters Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis

4.1.  Brand Awareness

4.2.  Factors Influencing Purchase Decision

4.3.  Sources of Information

5.    Different Sources of Water Heating

6.    India Water Heaters Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Product Type Market Share Analysis (Electric Water Heater, Gas Water Heater)

6.2.2.     By Sales Channel Market Share Analysis (Supermarkets/Hypermarkets, Multi-Branded Stores, Online, and Others (Direct Sales, etc.))

6.2.3.    By Regional Market Share Analysis

6.2.3.1.        North India Market Share Analysis

6.2.3.2.        South India Market Share Analysis

6.2.3.3.        East India Market Share Analysis

6.2.3.4.        West India Market Share Analysis

6.2.4.    By Top 5 Companies Market Share Analysis, Others (2023)

6.3.  India Water Heaters Market Mapping & Opportunity Assessment

6.3.1.    By Product Type Market Mapping & Opportunity Assessment

6.3.2.    By Sales Channel Market Mapping & Opportunity Assessment

6.3.3.    By Regional Market Mapping & Opportunity Assessment

7.    India Electric Water Heater Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Type Market Share Analysis (Instant, Storage and Immersion)

7.2.2.    By Sales Channel Market Share Analysis

8.    India Storage Electric Water Heater Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Sales Channel Market Share Analysis

9.    India Instant Electric Water Heater Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Sales Channel Market Share Analysis

10. India Immersion Water Heater Market Outlook

10.1.   Market Size & Forecast

10.1.1. By Value & Volume

10.2.   Market Share & Forecast

10.2.1. By Sales Channel Market Share Analysis

11. India Gas Water Heater Market Outlook

11.1.   Market Size & Forecast

11.1.1. By Value & Volume

11.2.   Market Share & Forecast

11.2.1. By Sales Channel Market Share Analysis

12. Supply Chain Analysis

13. Import & Export Analysis

14. Market Dynamics

14.1.             Drivers

14.2.             Challenges

15. Impact of COVID-19 on India Water Heaters Market

16. Market Trends & Developments

17. Policy and Regulatory Landscape

18. India Economic Profile

19. Company Profiles

19.1.1. Racold Thermo Private Limited

19.1.1.1.     Company Details

19.1.1.2.     Product & Services

19.1.1.3.     Financials (As Per Availability)

19.1.1.4.     Key market Focus & Geographical Presence

19.1.1.5.     Recent Developments

19.1.1.6.     Key Management Personnel

19.1.2. Havells India Limited

19.1.2.1.     Company Details

19.1.2.2.     Product & Services

19.1.2.3.     Financials (As Per Availability)

19.1.2.4.     Key market Focus & Geographical Presence

19.1.2.5.     Recent Developments

19.1.2.6.     Key Management Personnel

19.1.3. Bajaj Electricals Ltd.

19.1.3.1.     Company Details

19.1.3.2.     Product & Services

19.1.3.3.     Financials (As Per Availability)

19.1.3.4.     Key market Focus & Geographical Presence

19.1.3.5.     Recent Developments

19.1.3.6.     Key Management Personnel

19.1.4. V-Guard Industries Ltd.

19.1.4.1.     Company Details

19.1.4.2.     Product & Services

19.1.4.3.     Financials (As Per Availability)

19.1.4.4.     Key market Focus & Geographical Presence

19.1.4.5.     Recent Developments

19.1.4.6.     Key Management Personnel

19.1.5. A.O. Smith India Water Products Pvt. Ltd.

19.1.5.1.     Company Details

19.1.5.2.     Product & Services

19.1.5.3.     Financials (As Per Availability)

19.1.5.4.     Key market Focus & Geographical Presence

19.1.5.5.     Recent Developments

19.1.5.6.     Key Management Personnel

19.1.6. Crompton Greaves Consumer Electricals Ltd

19.1.6.1.     Company Details

19.1.6.2.     Product & Services

19.1.6.3.     Financials (As Per Availability)

19.1.6.4.     Key market Focus & Geographical Presence

19.1.6.5.     Recent Developments

19.1.6.6.     Key Management Personnel

19.1.7. Venus Home Appliances (P) Ltd.

19.1.7.1.     Company Details

19.1.7.2.     Product & Services

19.1.7.3.     Financials (As Per Availability)

19.1.7.4.     Key market Focus & Geographical Presence

19.1.7.5.     Recent Developments

19.1.7.6.     Key Management Personnel

19.1.8. Orient Electric Limited

19.1.8.1.     Company Details

19.1.8.2.     Product & Services

19.1.8.3.     Financials (As Per Availability)

19.1.8.4.     Key market Focus & Geographical Presence

19.1.8.5.     Recent Developments

19.1.8.6.     Key Management Personnel

19.1.9. Usha International Limited

19.1.9.1.     Company Details

19.1.9.2.     Product & Services

19.1.9.3.     Financials (As Per Availability)

19.1.9.4.     Key market Focus & Geographical Presence

19.1.9.5.     Recent Developments

19.1.9.6.     Key Management Personnel

19.1.10.              Ken Lifestyles Private Limited

19.1.10.1.  Company Details

19.1.10.2.  Product & Services

19.1.10.3.  Financials (As Per Availability)

19.1.10.4.  Key market Focus & Geographical Presence

19.1.10.5.  Recent Developments

19.1.10.6.  Key Management Personnel

20. Strategic Recommendations

20.1.             Key Focus Areas

21. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the India water heaters market was estimated to be USD285.85 million in 2023.

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The growth of the India water heaters market is driven by factors such as increasing urbanization, a diverse climate, energy efficiency concerns, cultural preferences for warm water, and technological advancements in the industry.

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Key trends in the India water heaters market include a growing demand for energy-efficient and eco-friendly water heating solutions, increased adoption of solar water heaters, and the integration of smart technology for remote control and energy monitoring.

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The India water heaters market faces challenges related to energy efficiency and the adoption of eco-friendly heating technologies to reduce power consumption and environmental impact.

profile

Parvati Sharma

Account Manager BD
Press Release

India Water Heaters Market to Grow with a CAGR of 7.15% through 2029

Oct, 2023

India water heaters market is experiencing significant growth driven by changing consumer lifestyles and preferences, the emphasis on energy efficiency and environmental concerns, and continuous tech