Saudi Arabia Electric Water Heater Market Size (2024 - 2029)

The Saudi Arabia Electric Water Heater Market is projected to experience growth driven by increasing disposable income and the rising demand for warm water applications in residential, commercial, and industrial sectors. The market's expansion is further supported by the growing tourism and hospitality industry, which necessitates the use of hot water in resorts and hotels. Additionally, the shift towards energy-efficient and alternative water heating solutions is expected to contribute to the market's growth, as consumers move away from traditional heating sources like biofuel, wood, and coal.

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Market Size of Saudi Arabia Electric Water Heater Industry

Saudi Arabia Electric Water Heater Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Market Size (2024) USD 873.5 Million
Market Size (2029) USD 110.88 Million
CAGR (2024 - 2029) 4.90 %
Market Concentration Low

Major Players

Saudi Arabia Electric Water Heater Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Saudi Arabia Electric Water Heater Market Analysis

The Saudi Arabia Electric Water Heater Market size is estimated at USD 873.5 million in 2024, and is expected to reach USD 110.88 million by 2029, growing at a CAGR of greater than 4.90% during the forecast period (2024-2029).

Electric water heaters are appliances that utilize electricity to heat water in residential, commercial, and industrial sectors. They are connected to a water source that supplies the hot water to numerous fixtures and appliances across a house or a building, including taps, showers, and dishwashers.

Post the pandemic, the Saudi Arabian Electric Water Heater Market is primarily driven by inflating disposable income levels and rising domestic applications of warm water, including cooking, bathing, cleaning, and heating. In addition, resorts and hotels have increasingly started using hot water to satisfy the needs of their consumers. This has, in turn, propelled the demand for electric water heaters across the region.

A rise in the requirement for warm and hot water across households in Saudi Arabia is one of the primary factors driving the market's growth. Due to its religious significance, the country is one of the GCC region's most prominent tourist destinations. The market will grow due to the expanding tourism and hospitality sector. Evolving urban lifestyle, increasing income levels, and growing disposable income stimulate customers to spend on consumer utilities like electric water heaters. In addition, growing demand for energy-efficient electric water heaters and rising demand for alternative water heating solutions as opposed to traditional sources such as biofuel, wood, and coal are other major factors anticipated to boost the growth of the electric water heater market over the forecast period.

Saudi Arabia Electric Water Heater Industry Segmentation

An electric water heater is an appliance that heats cold water using electricity and is supplied through a system of pipes. This heated water can be used for various purposes, such as for taking a hot bath or shower and in washing machines and dishwashers. Over the decades, several technologies have been developed to make water heaters energy efficient. 

Saudi Arabia Electric Water Heater Market is segmented by product (storage and instant), by capacity (small water heater, medium water heater, and large water heater), and by end-user (residential, commercial, and industrial). 

The report offers Market size and forecasts for the Saudi Arabia Electric Water Heater Market in value (USD) for all the above segments.

By Product
Storage​
Instant​
By Capacity
Small Water Heater​
Medium Water Heater​
Large Water Heater​
By End-User
Residential
Commercial
Industrial​
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Saudi Arabia Electric Water Heater Market Size Summary

The Saudi Arabia Electric Water Heater Market is experiencing significant growth, driven by increasing disposable income and the rising demand for warm water in residential, commercial, and industrial sectors. The market is characterized by the widespread use of electric water heaters in various applications, including cooking, bathing, and cleaning. The post-pandemic recovery has further fueled demand, particularly in the tourism and hospitality sectors, where resorts and hotels require hot water to meet consumer needs. The evolving urban lifestyle, coupled with higher income levels, is encouraging consumers to invest in energy-efficient electric water heaters, which are becoming preferred alternatives to traditional heating sources like biofuel and coal. The market is also benefiting from infrastructure development, technological advancements, and government policies that promote urbanization and improved living standards.

The commercial segment of the market is expected to expand its share, driven by the increasing number of commercial projects and the deployment of electric water heaters in facilities such as hotels, restaurants, and care centers. These units offer operational benefits like low heating costs and extensive control features, making them attractive to commercial users. The market is fragmented, with major players like Rheem Manufacturing Company, Ariston, Legrand, Saudi Ceramics, and A. O. Smith leading the way in technological innovation and product offerings. The introduction of products like Rheem's Wi-Fi-enabled thermostat and Saudi Ceramics' energy-efficient models highlights the industry's focus on innovation and cost-effective solutions. As awareness of the benefits of electric water heaters grows, their adoption is expected to increase, further boosting market revenue.

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Saudi Arabia Electric Water Heater Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Heat Pump Water Heaters

    2. 1.2 Market Overview

    3. 1.3 Market Dynamics

    4. 1.4 Market Drivers

      1. 1.4.1 Raising construction Projects

    5. 1.5 Market Restraints

      1. 1.5.1 Availability of Substitutes

    6. 1.6 Market Opportunities

      1. 1.6.1 Develop Energy Efficient Products

    7. 1.7 Industry Value Chain Analysis

    8. 1.8 Industry Attractiveness - Porters' Five Forces Analysis

      1. 1.8.1 Threat of New Entrants

      2. 1.8.2 Bargaining Power of Buyers

      3. 1.8.3 Bargaining Power of Suppliers

      4. 1.8.4 Threat of Substitutes

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Storage​

      2. 2.1.2 Instant​

    2. 2.2 By Capacity

      1. 2.2.1 Small Water Heater​

      2. 2.2.2 Medium Water Heater​

      3. 2.2.3 Large Water Heater​

    3. 2.3 By End-User

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

      3. 2.3.3 Industrial​

Saudi Arabia Electric Water Heater Market Size FAQs

The Saudi Arabia Electric Water Heater Market size is expected to reach USD 873.5 million in 2024 and grow at a CAGR of greater than 4.90% to reach USD 110.88 million by 2029.

In 2024, the Saudi Arabia Electric Water Heater Market size is expected to reach USD 873.5 million.

Saudi Arabia Electric Water Heater Market Report Snapshots

Saudi Arabia Electric Water Heater Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)