In 2023, China's hot water supply capacity was quantified at 628 million kilowatts. Forecasts from 2024 to 2028 project a steady annual increase, commencing with 643.2 million kilowatts in 2024 and reaching 707.54 million kilowatts in 2028.
Year-on-year growth rates reveal consistent progress:
- 2024-2025: 2.54%
- 2025-2026: 2.45%
- 2026-2027: 2.37%
- 2027-2028: 2.29%
The compound annual growth rate (CAGR) from 2024 to 2028 stands at approximately 2.4% per year.
In the future, key trends to watch include the impacts of energy efficiency initiatives, technological advancements in heating technology, and policy changes promoting sustainable energy sources, which may influence the capacity trajectory.
