Japan Water Heater Market Size & Outlook, 2026-2033
Global Market
Related Markets
Japan water heater market highlights
- The Japan water heater market generated a revenue of USD 2,194.4 million in 2025 and is expected to reach USD 3,167.5 million by 2033.
- The Japan market is expected to grow at a CAGR of 4.7% from 2026 to 2033.
- In terms of segment, electric was the largest revenue generating product in 2025.
- Gas is the most lucrative product segment registering the fastest growth during the forecast period.
Water heater market data book summary
| Market revenue in 2025 | USD 2,194.4 million |
| Market revenue in 2033 | USD 3,167.5 million |
| Growth rate | 4.7% (CAGR from 2026 to 2033) |
| Largest segment | Electric |
| Fastest growing segment | Gas |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric, Solar, Gas |
| Key market players worldwide | A.O. Smith Corp, Robert Bosch Engineering & Business Solutions, Rinnai Corp, Noritz Corp, Whirlpool Corp, WESCO International Inc, Haier, Lennox International Inc |
Other key industry trends
- In terms of revenue, Japan accounted for 6.9% of the global water heater market in 2025.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China water heater market is projected to lead the regional market in terms of revenue in 2033.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,983.2 million by 2033.
According to the World Bank, the Japanese economy contracted by 4.8% in 2020 due to the COVID19 pandemic. According to World Health Organization (WHO), the country is still struggling to overcome the pandemic with the number of cases rising steeply and the cumulative case count reaching 683,175 as of May 17, 2021.
The government of Japan declared a state of emergency on April 23, 2021, as the number of cases continues to rise. The Bank of Japan has forecasted a 4% growth in GDP for 2021-22 and 2.4% growth for 2022-23.
Further, in 2020, the government of Japan announced a stimulus of around USD 671.0 billion to support the economy and is likely to introduce more stimulus as the country struggles to make an economic rebound.
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Publish Date: Aug 26, 2025
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Water Heater Market Scope
Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Whirlpool Corp | View profile | 59,000 | 2000 North M-63, Benton Harbor, MI, United States, 49022-2692 | www.whirlpoolcorp.com |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | www.bosch-india-software.com |
| Haier | View profile | 10001+ | Qingdao Shi, Shandong, China, Asia | haier.com/in |
| Lennox International Inc | View profile | 12,600 | 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 | www.lennox.com |
| A.O. Smith Corp | View profile | 12,000 | 11270 West Park Place, P. O. Box 245008, Suite 170, Milwaukee, WI, United States, 53224-9508 | www.aosmith.com |
| WESCO International Inc | View profile | 20,000 | 225 West Station Square Drive, Suite 700, Pittsburgh, PA, United States, 15219 | www.wesco.com |
| Rinnai Corp | View profile | 12,731 | 2-26, Fukuzumi-cho, Nakagawa-ku, Nagoya, Japan, 454-0802 | www.rinnai.co.jp |
| Noritz Corp | View profile | 7,174 | 93 Edo-machi, Chuo-ku, Kobe, Japan, 650-0033 | www.noritz.co.jp |
Japan Water Heater Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Water Heater Market Outlook will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 49.25% in 2025.
Horizon Databook has segmented the Japan water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2021 to 2033.
According to the World Bank, the Japanese economy contracted by 4.8% in 2020 due to the COVID19 pandemic. According to World Health Organization (WHO), the country is still struggling to overcome the pandemic with the number of cases rising steeply and the cumulative case count reaching 683,175 as of May 17, 2021.
The government of Japan declared a state of emergency on April 23, 2021, as the number of cases continues to rise. The Bank of Japan has forecasted a 4% growth in GDP for 2021-22 and 2.4% growth for 2022-23.
Further, in 2020, the government of Japan announced a stimulus of around USD 671.0 billion to support the economy and is likely to introduce more stimulus as the country struggles to make an economic rebound.
- Japan Water Heater Market Product Outlook (Revenue, USD Million , 2021-2033)
- Electric
- Solar
- Gas
- Japan Water Heater Market Technology Outlook (Revenue, USD Million , 2021-2033)
- Tankless
- Storage Tank
- Hybrid
- Japan Water Heater Market Application Outlook (Revenue, USD Million , 2021-2033)
- Residential
- Commercial
- Industrial
- Japan Water Heater Market Capacity Outlook (Revenue, USD Million , 2021-2033)
- Below 30 Liters
- 30 - 100 Liters
- 100 - 250 Liters
- 250 - 400 Liters
- Above 400 Liters
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan Water Heater Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Japan Water Heater Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Japan Water Heater Market, 2021-2033 (US$M)
Japan water heater market statistics, by product, 2021-2033 (US$M)
