Japan home equipment market reaches JPY 204 trillion in FY2024

Japan’s residential equipment market reached ¥2.04 trillion in fiscal year 2024 (April 2024 to March 2025), according to research released by Yano Research Institute. 

The figure represents a 2.8% increase year-on-year.

Photo by Jason Briscoe on Unsplash

Market Breakdown

The report categorizes residential equipment into three major groups:

Plumbing Fixtures (Water-Related Equipment)

• Kitchens (system kitchens / sectional kitchens)

• System bathrooms

• Residential bidet toilet seats

• Residential sanitary equipment

• Bathroom vanities (excluding faucets)

Plumbing-Related Equipment

• Dishwashers

• Residential water heaters

• Kitchen appliances (gas stoves, IH cooking heaters)

• Bathroom heating and drying units

Self-Energy Equipment (Residential Power Generation)

• Home battery storage systems

• Residential solar power systems

• Home fuel cells

Fiscal 2024 results:

• Plumbing fixtures: ¥1.0827 trillion (+2.9%)

• Plumbing-related equipment: ¥580.9 billion (+7.2%)

• Self-energy equipment: ¥379.7 billion (–3.3%)

Key Trends

• Plumbing fixtures rose modestly, supported by price adjustments following higher material costs.

• Plumbing-related equipment benefited from government-led energy-saving initiatives, particularly stimulating demand for household water heaters.

• Self-energy equipment showed mixed performance: battery storage expanded thanks to subsidies, but residential solar photovoltaic declined amid falling panel prices. Demand for household fuel cells remained weak due to high costs.

Market Outlook

Growth is expected to continue, though uneven across categories:

• FY2025: ¥2.0553 trillion

• FY2026: ¥2.0840 trillion

• FY2030: ¥2.2010 trillion (+7.7% from FY2024)

The study notes that Japan’s declining population will likely limit long-term demand for plumbing fixtures and related equipment.

However, the self-energy sector is forecast to expand, supported by policies such as photovoltaic installation targets under Japan’s Residential Top Runner Program and mandatory battery storage requirements in the GX ZEH Series.

Sources:

R.E. Port News (Japanese only)

Yano Research FY2024 Home Equipment Report (Japanese only; summary only)