Covid-19 Impact on Water Heater Market to Witness Impressive Growth During 2023-2028 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. The prime factor contributing to the demand for water heaters is the growing residential and commercial construction market. What is a water heater? 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]. By housing the heating element, it stores the hot water. In a way, the inner container [tank] is the heart of the water heater and if the inner container [tank] leaks or corrodes, generally the entire unit needs to be replaced. Read More: https://www.stratviewresearch.com/1037/water-heater-market.html