Saudi Arabia Water Heater Market Size & Outlook, 2026-2033
Global Market
Related Markets
Saudi Arabia water heater market highlights
- The Saudi Arabia water heater market generated a revenue of USD 628.6 million in 2025 and is expected to reach USD 808.4 million by 2033.
- The Saudi Arabia market is expected to grow at a CAGR of 3.2% from 2026 to 2033.
- In terms of segment, electric was the largest revenue generating product in 2025.
- Solar 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 628.6 million |
| Market revenue in 2033 | USD 808.4 million |
| Growth rate | 3.2% (CAGR from 2026 to 2033) |
| Largest segment | Electric |
| Fastest growing segment | Solar |
| 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, Saudi Arabia accounted for 2.0% 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 Middle East & Africa, Saudi Arabia water heater market is projected to lead the regional market in terms of revenue in 2033.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 556.8 million by 2033.
The GDP of Saudi Arabia contracted by 4.1% in 2020, according to the IMF. Strict early containment and health mitigation measures implemented by the government kept the COVID-19 cases and deaths to a minimum.
In addition, the vaccine campaign has made significant progress in 2021, managing to vaccinate 29% of its population. The IMF has estimated the Saudi Arabian economy to recover in 2022, with a forecasted growth rate of 2.1% and 4.8% in 2021 and 2022, respectively. This is anticipated to reflect on water heater demand post-2024 as economic activity will continue to normalize.
In November 2017, the Electricity and Cogeneration Regulatory Authority (ECRA) increased the tariffs for residential electricity consumption, encouraging consumers to shift to renewable energy sources. This is expected to augment the growth of the solar water heater market in the country.
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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 |
Saudi Arabia 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 73.56% in 2025.
Horizon Databook has segmented the Saudi Arabia water heater market based on electric, solar, gas covering the revenue growth of each sub-segment from 2021 to 2033.
The GDP of Saudi Arabia contracted by 4.1% in 2020, according to the IMF. Strict early containment and health mitigation measures implemented by the government kept the COVID-19 cases and deaths to a minimum.
In addition, the vaccine campaign has made significant progress in 2021, managing to vaccinate 29% of its population. The IMF has estimated the Saudi Arabian economy to recover in 2022, with a forecasted growth rate of 2.1% and 4.8% in 2021 and 2022, respectively. This is anticipated to reflect on water heater demand post-2024 as economic activity will continue to normalize.
In November 2017, the Electricity and Cogeneration Regulatory Authority (ECRA) increased the tariffs for residential electricity consumption, encouraging consumers to shift to renewable energy sources. This is expected to augment the growth of the solar water heater market in the country.
- Saudi Arabia Water Heater Market Product Outlook (Revenue, USD Million , 2021-2033)
- Electric
- Solar
- Gas
- Saudi Arabia Water Heater Market Technology Outlook (Revenue, USD Million , 2021-2033)
- Tankless
- Storage Tank
- Hybrid
- Saudi Arabia Water Heater Market Application Outlook (Revenue, USD Million , 2021-2033)
- Residential
- Commercial
- Industrial
- Saudi Arabia 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 Saudi Arabia Water Heater Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia Water Heater Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Saudi Arabia Water Heater Market, 2021-2033 (US$M)
Saudi Arabia water heater market statistics, by product, 2021-2033 (US$M)
