North America Water Heater Market Size & Outlook, 2026-2033
Global Market
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North America water heater market highlights
- The North America water heater market generated a revenue of USD 6,656.9 million in 2025.
- The market is expected to grow at a CAGR of 4.4% from 2026 to 2033.
- In terms of segment, gas was the largest revenue generating product in 2025.
- Solar is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2026 to 2033.
North America data book summary
| Market revenue in 2025 | USD 6,656.9 million |
| Market revenue in 2033 | USD 9,379.1 million |
| Growth rate | 4.4% (CAGR from 2026 to 2033) |
| Largest segment | Gas |
| Fastest growing segment | Solar |
| Historical data covered | 2021 - 2024 |
| Base year for estimation | 2025 |
| Forecast period covered | 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, North America region accounted for 20.9% of the global water heater market in 2025.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 18,178.2 million by 2033.
Rapid growth in domestic and international migration in North America has augmented the demand for housing, leading to increased residential construction. The requirement of hot water in industries and the role of water heaters in a well-established industrial infrastructure in the region is expected to bolster the demand for water heaters.
The U.S. announced the Build Back Better Infrastructure Plan in March 2021, wherein the government is investing around USD 2.2 trillion over eight years to boost the growth of the construction industry. The vaccine rollout in the U.S. is expected to benefit the regional market as economic activity in the country is expected to return to normal i.e., pre-COVID situation.
According to the U.S. Centers for Disease Control and Prevention (CDC), 37% of the U.S. population is fully vaccinated as of May 17, 2021. The COVID-19 pandemic created huge disruptions in the supply chain, resulting in delayed sourcing of raw materials.
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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 |
North America 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.
Gas was the largest segment with a revenue share of 53.95% in 2025.
Horizon Databook has segmented the North America water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2021 to 2033.
Rapid growth in domestic and international migration in North America has augmented the demand for housing, leading to increased residential construction. The requirement of hot water in industries and the role of water heaters in a well-established industrial infrastructure in the region is expected to bolster the demand for water heaters.
The U.S. announced the Build Back Better Infrastructure Plan in March 2021, wherein the government is investing around USD 2.2 trillion over eight years to boost the growth of the construction industry. The vaccine rollout in the U.S. is expected to benefit the regional market as economic activity in the country is expected to return to normal i.e., pre-COVID situation.
According to the U.S. Centers for Disease Control and Prevention (CDC), 37% of the U.S. population is fully vaccinated as of May 17, 2021. The COVID-19 pandemic created huge disruptions in the supply chain, resulting in delayed sourcing of raw materials.
- North America Water Heater Market Product Outlook (Revenue, USD Million , 2021-2033)
- Electric
- Solar
- Gas
- North America Water Heater Market Technology Outlook (Revenue, USD Million , 2021-2033)
- Tankless
- Storage Tank
- Hybrid
- North America Water Heater Market Application Outlook (Revenue, USD Million , 2021-2033)
- Residential
- Commercial
- Industrial
- North America 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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North America Water Heater Market, 2021-2033 (US$M)
North America water heater market statistics, by product, 2021-2033 (US$M)
