$3.1bn
$XXX.Xm
5,348
16
$XXX.Xm
The Water Heater Manufacturing industry is relatively small in terms of participation. Most of these companies have at least some manufacturing capacity outside the United States. The industry is heavily affected by these few companies' off- and on-shoring decisions. Low interest rates early in the period boosted home improvement investments and surged housing starts, greatly benefiting the industry. Water Heater Manufacturing industry revenue has been expanding at a CAGR of 1.6% over the past five years and is expected to total $3.1 billion in 2024 when revenue will jump by an estimated 0.2%.
Industry revenue has grown at a CAGR of 1.6 % over the past five years, to reach an estimated $3.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
A. O. Smith Corporation | 1,473.9 | 283.5 | 19.2 | |
Bradford White Corporation | 440.1 | 38.5 | 8.8 | |
Rheem Manufacturing Company | 146.7 | 12.8 | 8.8 |
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Industry revenue is measured across several distinct product and services lines, including Medium (31 to 49 gallons), Large (50 gallons or more) and Small (30 gallons or less). Medium (31 to 49 gallons) is the largest segment of the Water Heater Manufacturing in the US.
Traditional, tank-based water heaters are this industry's cash cow
This industry manufactures water heaters, which are used in a variety of settings. Most industry products are found in homes, office buildings and industrial facilities. They are made in various sizes and types and are mostly powered by gas or electricity.
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NAICS 33521 - Water Heater Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Over the past five years, rising new home construction and home improvement spending have boosted water heater sales. With increased disposable income, homeowners are expecte...
Learn about an industry's products and services, markets and trends in international trade.
Households earning less than $100,000 account for a significant portion of industry revenue. This market segment is most likely to have a medium-sized electric water heater b...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Since only a few companies are active in the domestic industry, activity is very limited. The industry has establishments in Alabama, Georgia, Michigan, New York, North Carol...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition is intense among the top three water heater manufacturers. They primarily compete on price and functionality, striving to offer the best value and performance to ...
Learn about the performance of the top companies in the industry.
US manufacturers are working to make their products increasingly efficient and sustainable. Tankless and smart water heaters account for a growing portion of industry sales.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Water heater manufacturers are under intense scrutiny from environmental and safety-setting agencies. Rules and regulations are increasingly stringent and producers must stay...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Over the past five years, average profit has risen as manufacturers successfully managed raw material costs and incrementally raised selling prices. Improved operational effi...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Water Heater Manufacturing in the US industry in United States is $3.1bn in 2024.
There are 16 businesses in the Water Heater Manufacturing in the US industry in United States, which has grown at a CAGR of 5.9 % between 2019 and 2024.
The market size of the Water Heater Manufacturing in the US industry in United States has been growing at a CAGR of 1.6 % between 2019 and 2024.
Over the next five years, the Water Heater Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Water Heater Manufacturing market in United States are A. O. Smith Corporation, Bradford White Corporation and Rheem Manufacturing Company
Manufacturing storage-tank water heaters (small, medium and large) and Manufacturing tankless water heaters are part of the Water Heater Manufacturing in the US industry.
The company holding the most market share in United States is A. O. Smith Corporation.
The level of competition is moderate and steady in the Water Heater Manufacturing in the US industry in United States.