Saudi Arabia Electric Water Heater Market Size

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.