Indirect Water Heaters Market

Indirect Water Heaters Market Insights, Global Outlook and Forecast 2022-2028

Indirect Water Heaters Market

Indirect Water Heaters Market Insights, Global Outlook and Forecast 2022-2028

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Indirect Water Heater is a kind of water heater, which generates more hot water than standard hot water heaters. An indirect water heater is one of the most cost effective ways to heat water because it eliminates the tremendous flue loss associated with gas-fired storage water heaters but without the hassles and extra costs of tankless gas water heaters. When used with a modern, high efficiency boiler, these energy savings hold true even in the summer when your boiler isn't needed for heat.

The latest research study released by Market IntelliX evaluates market size and forecasts of Indirect Water Heaters in global, including the following market information:

Global Indirect Water Heaters Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global Indirect Water Heaters Market Sales, 2017-2022, 2023-2028, (K Units)

Global top five Indirect Water Heaters companies in 2021 (%)

The global Indirect Water Heaters market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Internal Coiled Type Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Indirect Water Heaters include The Marley-Wylain Company, A.O. Smith, Bradford White, Westinghouse Electric Corporation, Hubbell, PB Heat, LLC, U.S. Boiler Company, Triangle Tube and Heat Transfer Products(HTP), etc. In 2021, the global top five players have a share approximately % in terms of revenue.


MI has surveyed the Indirect Water Heaters manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.


Market Segmentations:

Global Indirect Water Heaters Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (K Units)

Global Indirect Water Heaters Market Segment Percentages, by Type, 2021 (%)

Internal Coiled Type

External Submerged Type

Global Indirect Water Heaters Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (K Units)

Global Indirect Water Heaters Market Segment Percentages, by Application, 2021 (%)

Residential

Commercial

Global Indirect Water Heaters Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (K Units)

Global Indirect Water Heaters Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Indirect Water Heaters revenues in global market, 2017-2022 (Estimated), ($ millions)

Key companies Indirect Water Heaters revenues share in global market, 2021 (%)

Key companies Indirect Water Heaters sales in global market, 2017-2022 (Estimated), (K Units)

Key companies Indirect Water Heaters sales share in global market, 2021 (%)


The report presents profiles of competitors in the market, Some of the prominent key players covered:

The Marley-Wylain Company

A.O. Smith

Bradford White

Westinghouse Electric Corporation

Hubbell

PB Heat, LLC

U.S. Boiler Company

Triangle Tube

Heat Transfer Products(HTP)

Heat-Flo

Bock Water Heaters

Niles Steel Tank

Rheem


Key Takeaways from this Report

Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.

Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.

Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

Analyze the sales and distribution channels across key geographies to improve top-line revenues.

Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

1 Introduction to Research & Analysis Reports

1.1 Indirect Water Heaters Market Definition

1.2 Market Segments

1.2.1 Market by Type

1.2.2 Market by Application

1.3 Global Indirect Water Heaters Market Overview

1.4 Features & Benefits of This Report

1.5 Methodology & Sources of Information

1.5.1 Research Methodology

1.5.2 Research Process

1.5.3 Base Year

1.5.4 Report Assumptions & Caveats

2 Global Indirect Water Heaters Overall Market Size

2.1 Global Indirect Water Heaters Market Size: 2021 VS 2028

2.2 Global Indirect Water Heaters Revenue, Prospects & Forecasts: 2017-2028

2.3 Global Indirect Water Heaters Sales: 2017-2028

3 Company Landscape

3.1 Top Indirect Water Heaters Players in Global Market

3.2 Top Global Indirect Water Heaters Companies Ranked by Revenue

3.3 Global Indirect Water Heaters Revenue by Companies

3.4 Global Indirect Water Heaters Sales by Companies

3.5 Global Indirect Water Heaters Price by Manufacturer (2017-2022)

3.6 Top 3 and Top 5 Indirect Water Heaters Companies in Global Market, by Revenue in 2021

3.7 Global Manufacturers Indirect Water Heaters Product Type

3.8 Tier 1, Tier 2 and Tier 3 Indirect Water Heaters Players in Global Market

3.8.1 List of Global Tier 1 Indirect Water Heaters Companies

3.8.2 List of Global Tier 2 and Tier 3 Indirect Water Heaters Companies

4 Sights by Product

4.1 Overview

4.1.1 By Type - Global Indirect Water Heaters Market Size Markets, 2021 & 2028

4.1.2 Internal Coiled Type

4.1.3 External Submerged Type

4.2 By Type - Global Indirect Water Heaters Revenue & Forecasts

4.2.1 By Type - Global Indirect Water Heaters Revenue, 2017-2022

4.2.2 By Type - Global Indirect Water Heaters Revenue, 2023-2028

4.2.3 By Type - Global Indirect Water Heaters Revenue Market Share, 2017-2028

4.3 By Type - Global Indirect Water Heaters Sales & Forecasts

4.3.1 By Type - Global Indirect Water Heaters Sales, 2017-2022

4.3.2 By Type - Global Indirect Water Heaters Sales, 2023-2028

4.3.3 By Type - Global Indirect Water Heaters Sales Market Share, 2017-2028

4.4 By Type - Global Indirect Water Heaters Price (Manufacturers Selling Prices), 2017-2028

5 Sights By Application

5.1 Overview

5.1.1 By Application - Global Indirect Water Heaters Market Size, 2021 & 2028

5.1.2 Residential

5.1.3 Commercial

5.2 By Application - Global Indirect Water Heaters Revenue & Forecasts

5.2.1 By Application - Global Indirect Water Heaters Revenue, 2017-2022

5.2.2 By Application - Global Indirect Water Heaters Revenue, 2023-2028

5.2.3 By Application - Global Indirect Water Heaters Revenue Market Share, 2017-2028

5.3 By Application - Global Indirect Water Heaters Sales & Forecasts

5.3.1 By Application - Global Indirect Water Heaters Sales, 2017-2022

5.3.2 By Application - Global Indirect Water Heaters Sales, 2023-2028

5.3.3 By Application - Global Indirect Water Heaters Sales Market Share, 2017-2028

5.4 By Application - Global Indirect Water Heaters Price (Manufacturers Selling Prices), 2017-2028

6 Sights by Region

6.1 By Region - Global Indirect Water Heaters Market Size, 2021 & 2028

6.2 By Region - Global Indirect Water Heaters Revenue & Forecasts

6.2.1 By Region - Global Indirect Water Heaters Revenue, 2017-2022

6.2.2 By Region - Global Indirect Water Heaters Revenue, 2023-2028

6.2.3 By Region - Global Indirect Water Heaters Revenue Market Share, 2017-2028

6.3 By Region - Global Indirect Water Heaters Sales & Forecasts

6.3.1 By Region - Global Indirect Water Heaters Sales, 2017-2022

6.3.2 By Region - Global Indirect Water Heaters Sales, 2023-2028

6.3.3 By Region - Global Indirect Water Heaters Sales Market Share, 2017-2028

6.4 North America

6.4.1 By Country - North America Indirect Water Heaters Revenue, 2017-2028

6.4.2 By Country - North America Indirect Water Heaters Sales, 2017-2028

6.4.3 US Indirect Water Heaters Market Size, 2017-2028

6.4.4 Canada Indirect Water Heaters Market Size, 2017-2028

6.4.5 Mexico Indirect Water Heaters Market Size, 2017-2028

6.5 Europe

6.5.1 By Country - Europe Indirect Water Heaters Revenue, 2017-2028

6.5.2 By Country - Europe Indirect Water Heaters Sales, 2017-2028

6.5.3 Germany Indirect Water Heaters Market Size, 2017-2028

6.5.4 France Indirect Water Heaters Market Size, 2017-2028

6.5.5 U.K. Indirect Water Heaters Market Size, 2017-2028

6.5.6 Italy Indirect Water Heaters Market Size, 2017-2028

6.5.7 Russia Indirect Water Heaters Market Size, 2017-2028

6.5.8 Nordic Countries Indirect Water Heaters Market Size, 2017-2028

6.5.9 Benelux Indirect Water Heaters Market Size, 2017-2028

6.6 Asia

6.6.1 By Region - Asia Indirect Water Heaters Revenue, 2017-2028

6.6.2 By Region - Asia Indirect Water Heaters Sales, 2017-2028

6.6.3 China Indirect Water Heaters Market Size, 2017-2028

6.6.4 Japan Indirect Water Heaters Market Size, 2017-2028

6.6.5 South Korea Indirect Water Heaters Market Size, 2017-2028

6.6.6 Southeast Asia Indirect Water Heaters Market Size, 2017-2028

6.6.7 India Indirect Water Heaters Market Size, 2017-2028

6.7 South America

6.7.1 By Country - South America Indirect Water Heaters Revenue, 2017-2028

6.7.2 By Country - South America Indirect Water Heaters Sales, 2017-2028

6.7.3 Brazil Indirect Water Heaters Market Size, 2017-2028

6.7.4 Argentina Indirect Water Heaters Market Size, 2017-2028

6.8 Middle East & Africa

6.8.1 By Country - Middle East & Africa Indirect Water Heaters Revenue, 2017-2028

6.8.2 By Country - Middle East & Africa Indirect Water Heaters Sales, 2017-2028

6.8.3 Turkey Indirect Water Heaters Market Size, 2017-2028

6.8.4 Israel Indirect Water Heaters Market Size, 2017-2028

6.8.5 Saudi Arabia Indirect Water Heaters Market Size, 2017-2028

6.8.6 UAE Indirect Water Heaters Market Size, 2017-2028

7 Manufacturers & Brands Profiles

7.1 The Marley-Wylain Company

7.1.1 The Marley-Wylain Company Corporate Summary

7.1.2 The Marley-Wylain Company Business Overview

7.1.3 The Marley-Wylain Company Indirect Water Heaters Major Product Offerings

7.1.4 The Marley-Wylain Company Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.1.5 The Marley-Wylain Company Key News

7.2 A.O. Smith

7.2.1 A.O. Smith Corporate Summary

7.2.2 A.O. Smith Business Overview

7.2.3 A.O. Smith Indirect Water Heaters Major Product Offerings

7.2.4 A.O. Smith Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.2.5 A.O. Smith Key News

7.3 Bradford White

7.3.1 Bradford White Corporate Summary

7.3.2 Bradford White Business Overview

7.3.3 Bradford White Indirect Water Heaters Major Product Offerings

7.3.4 Bradford White Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.3.5 Bradford White Key News

7.4 Westinghouse Electric Corporation

7.4.1 Westinghouse Electric Corporation Corporate Summary

7.4.2 Westinghouse Electric Corporation Business Overview

7.4.3 Westinghouse Electric Corporation Indirect Water Heaters Major Product Offerings

7.4.4 Westinghouse Electric Corporation Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.4.5 Westinghouse Electric Corporation Key News

7.5 Hubbell

7.5.1 Hubbell Corporate Summary

7.5.2 Hubbell Business Overview

7.5.3 Hubbell Indirect Water Heaters Major Product Offerings

7.5.4 Hubbell Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.5.5 Hubbell Key News

7.6 PB Heat, LLC

7.6.1 PB Heat, LLC Corporate Summary

7.6.2 PB Heat, LLC Business Overview

7.6.3 PB Heat, LLC Indirect Water Heaters Major Product Offerings

7.6.4 PB Heat, LLC Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.6.5 PB Heat, LLC Key News

7.7 U.S. Boiler Company

7.7.1 U.S. Boiler Company Corporate Summary

7.7.2 U.S. Boiler Company Business Overview

7.7.3 U.S. Boiler Company Indirect Water Heaters Major Product Offerings

7.7.4 U.S. Boiler Company Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.7.5 U.S. Boiler Company Key News

7.8 Triangle Tube

7.8.1 Triangle Tube Corporate Summary

7.8.2 Triangle Tube Business Overview

7.8.3 Triangle Tube Indirect Water Heaters Major Product Offerings

7.8.4 Triangle Tube Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.8.5 Triangle Tube Key News

7.9 Heat Transfer Products(HTP)

7.9.1 Heat Transfer Products(HTP) Corporate Summary

7.9.2 Heat Transfer Products(HTP) Business Overview

7.9.3 Heat Transfer Products(HTP) Indirect Water Heaters Major Product Offerings

7.9.4 Heat Transfer Products(HTP) Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.9.5 Heat Transfer Products(HTP) Key News

7.10 Heat-Flo

7.10.1 Heat-Flo Corporate Summary

7.10.2 Heat-Flo Business Overview

7.10.3 Heat-Flo Indirect Water Heaters Major Product Offerings

7.10.4 Heat-Flo Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.10.5 Heat-Flo Key News

7.11 Bock Water Heaters

7.11.1 Bock Water Heaters Corporate Summary

7.11.2 Bock Water Heaters Indirect Water Heaters Business Overview

7.11.3 Bock Water Heaters Indirect Water Heaters Major Product Offerings

7.11.4 Bock Water Heaters Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.11.5 Bock Water Heaters Key News

7.12 Niles Steel Tank

7.12.1 Niles Steel Tank Corporate Summary

7.12.2 Niles Steel Tank Indirect Water Heaters Business Overview

7.12.3 Niles Steel Tank Indirect Water Heaters Major Product Offerings

7.12.4 Niles Steel Tank Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.12.5 Niles Steel Tank Key News

7.13 Rheem

7.13.1 Rheem Corporate Summary

7.13.2 Rheem Indirect Water Heaters Business Overview

7.13.3 Rheem Indirect Water Heaters Major Product Offerings

7.13.4 Rheem Indirect Water Heaters Sales and Revenue in Global (2017-2022)

7.13.5 Rheem Key News

8 Global Indirect Water Heaters Production Capacity, Analysis

8.1 Global Indirect Water Heaters Production Capacity, 2017-2028

8.2 Indirect Water Heaters Production Capacity of Key Manufacturers in Global Market

8.3 Global Indirect Water Heaters Production by Region

9 Key Market Trends, Opportunity, Drivers and Restraints

9.1 Market Opportunities & Trends

9.2 Market Drivers

9.3 Market Restraints

10 Indirect Water Heaters Supply Chain Analysis

10.1 Indirect Water Heaters Industry Value Chain

10.2 Indirect Water Heaters Upstream Market

10.3 Indirect Water Heaters Downstream and Clients

10.4 Marketing Channels Analysis

10.4.1 Marketing Channels

10.4.2 Indirect Water Heaters Distributors and Sales Agents in Global

11 Conclusion

12 Appendix

12.1 Note

12.2 Examples of Clients

12.3 Disclaimer

Research Methodology:
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Indirect Water Heaters Market Size Estimation

To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.

Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.

Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.

We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.

Data Source

Secondary Sources

This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.

These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.

Market Size
  • Segmental value
  • Geographic Penetration
  • Product Adoption Rate for Different market
  • Journals, Websites, and Press Releases
  • Annual Reports and SEC Filings
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Market Intellix Data Repository
Market Position of Top Company
  • Product Financials
  • Geographic value Mix
  • Total Company value
  • Business/Segmental value Mix
Qualitative Analysis
  • Influence Factors
  • Market Potential
  • Market Risks and Opportunities
  • Industry Trends
  • Geographical Features
  • Government Policies
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Annual Reports
  • Industry Associations
  • Market Intellix Data Repository

Primary Sources

As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.

On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.

These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.

Key Data Information from Primary Sources

Primary Sources Parameters Key Data
Market Segments(by Application, by Type)
  • Value by Type
  • Status and Forecast
  • Value by Application
  • Value by Regions, Status and Forecast (2025-2031)
  • Value Market Share by Type
  • Value Growth Rate by Type
  • Value by Application
  • Percentage and Growth Rate by Application
  • Value Growth Rate and Market Share by Regions
  • Market Size Status and Forecast (2025-2031)
Total Market
  • Overall Size, Status and Forecast
  • Market Size Status and Forecast (2025-2031)
Frequently asked questions(FAQ's):
What is the market share of the Indirect Water Heaters Market?
The Global Indirect Water Heaters Market share by vendor, as well as the concentration rate using the CR4, CR8 Index, determine the strength of competitive players like The Marley-Wylain Company, A.O. Smith, Bradford White, Westinghouse Electric Corporation, Hubbell, PB Heat, LLC, U.S. Boiler Company, Triangle Tube, Heat Transfer Products(HTP), Heat-Flo, Bock Water Heaters, Niles Steel Tank, Rheem.
What gaps and opportunities are seen in the Indirect Water Heaters Market?
The flow of investment into the Indirect Water Heaters Market, which is utilizing technologies to drive efficiency and high volume, clearly shows the market opportunity.
What important business segments are segregated by application types in the latest edition of the Indirect Water Heaters Market?
The key business segments in the Indirect Water Heaters Market are segregated by applications [Residential, Commercial] and types [Internal Coiled Type, External Submerged Type].
How big is the Indirect Water Heaters Market by 2030?
It is expected that the Indirect Water Heaters Market will reach USD XX million by 2030.
What challenges does the Indirect Water Heaters Market face in the future?
The convergence of various vital triggers, including a major slowdown in Western economies, and some critical points in globalization, leads to the transformation of business in the Indirect Water Heaters Market across the extensive corporate landscape.
Who should consider the Indirect Water Heaters Market study?
The Indirect Water Heaters Industry stakeholders, executives, and experts, as well as individuals who need to develop consumer-friendly strategies and use technology to stay ahead of the competition.