“The expansion of the global water heater industry is forecast to reach 2.7% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 6.1%. Currently, electric storage, instant and immersion water heaters account for 37.9% of the global demand while the remaining market share is divided between instantaneous gas water heaters (34.3%) and other non-electric water heaters (27.8%).
China, Germany, Japan, Russia and the United States represent the largest water heater markets while the strongest annual growth is forecast to occur in Jordan (13.2%), Philippines (11.5%), Kyrgyzstan (11.3%), Bolivia (10.6%) and Azerbaijan (9.4%).”
