Stiebel Eltron is targeting THB1.41 billion in sales in 2026 as it expands its consumer and commercial water solutions portfolio, despite forecasting an approximately 10% contraction in Thailand’s water heater and hot water market.
BANGKOK — Stiebel Eltron is targeting THB1.41 billion in sales in 2026 as the company introduces new products and expands its water solutions business, even as weaker consumer purchasing power and a slowdown in new residential development weigh on Thailand’s water heater market.
The company recorded total sales of THB1.38 billion in 2025, up 4% from the previous year. Water heaters and hot water systems accounted for 77% of total sales, while sales in the category increased 15% year on year.
Stiebel Eltron estimates that Thailand’s water heater and hot water market, valued at approximately THB3.3 billion in 2025, could contract by around 10% in 2026, as economic uncertainty, subdued consumer spending and demographic shifts affect demand for new housing projects.
Roland Hoehn, chief executive officer of Stiebel Eltron Asia, said the company plans to counter the market slowdown by broadening its product portfolio across both business-to-consumer (B2C) and business-to-business (B2B) segments, while expanding beyond its traditional water heater business into a wider range of residential and commercial water solutions.
The strategy comes as changing lifestyles, urbanisation and home renovation trends reshape demand in Thailand’s home appliance market. Consumers are increasingly looking beyond price and basic functionality, placing greater emphasis on design, convenience, safety, energy efficiency and wellness-oriented products.
These shifts are also changing the competitive landscape in the water heater market, with manufacturers seeking to create greater value through product design, technology, energy efficiency and user experience rather than competing primarily on price.
X-Series Leads Year-End Product Push
A key part of Stiebel Eltron’s fourth-quarter strategy is the launch of its new X-Series instant water heater range, comprising the AQX and WSX models.
Developed under the concept “It’s Time to Pause,” the range is positioned around the idea of transforming everyday showering into a more comfortable, wellness-focused experience.
The AQX is priced from THB3,290 for the 3,500-watt model and THB3,490 for the 4,500-watt version. The WSX is priced at THB3,890 for the 3,500-watt model and THB4,090 for the 4,500-watt version.
The range incorporates multiple safety features, including an automatic function check, an earth leakage circuit breaker, overheating protection and an IP25 ingress protection rating.
Stiebel Eltron is also placing greater emphasis on sustainability in product development. The company said the outer casing of the X-Series can contain up to 80% recycled ABS material, while paper-based packaging is being used to reduce unnecessary plastic consumption.
The company plans to introduce additional products under the X-Series in 2027 as it seeks to address a broader range of residential market segments.
Expanding Beyond Water Heaters
Stiebel Eltron’s growth strategy increasingly extends beyond its core water heater business as the company develops a broader portfolio of water and energy solutions for residential and commercial customers.
For the residential market, the company has introduced Stiebel House Pro, a household water filtration solution designed to support water management within the home.
In the commercial segment, Stiebel Eltron is expanding its heat pump solutions, including the SHP-O and WPL-A ranges, targeting hotels, property developments and businesses seeking to improve energy efficiency and support environmental, social and governance (ESG) objectives.
The expansion forms part of the company’s broader strategy to position Stiebel Eltron as a Lifestyle Water Solutions brand and develop what it describes as a comprehensive Water Wellness Ecosystem.
For 2026, the company expects domestic sales to account for approximately 80% of total sales, with exports projected to contribute the remaining 20%.
If achieved, the THB1.41 billion sales target would mark another year of growth for Stiebel Eltron Asia despite the company’s expectation that Thailand’s domestic water heater market will contract.
The strategy reflects a broader challenge facing appliance manufacturers in Thailand: generating growth in mature product categories while consumer purchasing power remains under pressure.
For Stiebel Eltron, the response is to reduce its reliance on the traditional water heater market by expanding into higher-value products, energy-efficient systems and a broader range of water solutions for homes, hotels and commercial properties.
