Water Heater Market Insights: Key Trends Shaping the Industry in 2024
The water heater market was estimated at USD 28.47 billion in 2022 and is likely to grow at a CAGR of 4.48% during 2023-2028 to reach USD 37.13 billion in 2028.
An appliance consisting of a gas or electric heating unit under a tank in which water is heated is called a water heater. One of the most important components in water heaters is the inner container [tank].
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