27-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Gas Water Heater Market By Type (Instant, Storage) By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters) By Fuel (Natural Gas, LPG) and By Application (Residential, Commercial): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Gas Water Heater market in 2019 was approximately USD 7 Billion. The market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 9 Billion by 2026.
The rising demand for power saving water heaters along with the replacement of traditional water heating systems for saving time and energy is accelerating the demand for the gas water heater market. Also, the rapid urbanization and technological advancements remote monitoring, AI-controlled features, Wi-Fi connectivity option in the product designs and functioning are assisting in market growth. Frequent power cuts and shortages along with the increasing demand from the remote and undeveloped areas of the Asia Pacific and South American countries are boosting the demand for the gas water heater market.
However, the high installation cost of these heaters and the carbon emissions from the heater poses a threat to the growth of the market. Nevertheless, the growing focus on the advancement of the product that is less harmful to the environment and its availability at an economical price creates several opportunities for the gas water heater market.
Browse the full “Gas Water Heater Market By Type (Instant, Storage) By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters) By Fuel (Natural Gas, LPG) and By Application (Residential, Commercial): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026 https://www.fnfresearch.com/gas-water-heater-market-by-type-instant-storage-1000
As per the type analysis, the storage type is expected to surge the market owing to its availability in varying designs which provides low-cost maintenance and uncompromised water pressure. Furthermore, the storage units installed at various government and commercial places like hospitals, airports, hotels, and schools that provide easy operational facilities and features have helped the market in its growth. As per the capacity analysis, the storage capacity of 30-100 liters is expected to trigger the market as there is a surging demand for this capacity of gas water heaters across most of the residential and small commercial spaces.
Many manufacturers are providing heaters in this capacity at a very competitive price with more advancements which is proving to be beneficial in the growth of the market. Owing to the increase in tourism across the globe, there has been a surge in the adoption of 100-250 liters gas water heaters which are generally deployed across commercial places like hotels, airports, hospitals. The availability of large capacity water heaters with advanced features has significantly contributed to the growth of the market. As per the fuel analysis, the LPG fuel option is surging the demand in the market as it has lower sulfur content along with higher calorific value which helps in producing the exact amount of heat required by utilizing less gas requirement.
The easy availability of connection points despite its higher costs and its ability to burn consistently and provide a significantly low electric bill has led to an increase in the demand for the LPG fuel option. As per the application analysis, the residential segment is projected to accelerate the demand of the market owing to the worldwide infrastructural growth. The establishment of gas distribution projects along with several government initiatives and investments in the development of piping networks has led to an increase in the market.
As per the regional analysis, the Asia Pacific region is expected to dominate the market owing to the rising population and the availability of low-cost labor in the countries of this region. Many countries of this region are among the top growing economies as a result of which there are huge chances for the manufacturing sector to gain good momentum and provide numerous benefits for the manufacturing facilities and the people working in this sector.
Report Scope
| Report Attribute |
Details |
| Market Size in 2019 |
USD 7 Billion |
| Projected Market Size in 2026 |
USD 9 Billion |
| CAGR Growth Rate |
6% CAGR |
| Base Year |
2019 |
| Forecast Years |
2020-2026 |
| Key Market Players |
A.O SmithWestinghouse Electric CorporationNoritz CorporationLennoxHTP Comfort SolutionsParker Boiler CompanyBDR Thermea GroupState Water HeatersAmerican Standard Water HeatersVaillant GroupAriston ThermoBradford White CorporationHaier ElectronicsBosch ThermotechnologyRacoldWhirlpool CorporationRinnai CorporationRheem ManufacturingFerroliHubbell Electric Heater CompanyHavells India Limited, and Others |
| Key Segment |
By Typ, Capacity, Fuel, Application, and Region |
| Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
The major key players in the gas water heater market are as follows:
A.O Smith, Westinghouse Electric Corporation, Noritz Corporation, Lennox, HTP Comfort Solutions, Parker Boiler Company, BDR Thermea Group, State Water Heaters, American Standard Water Heaters, Vaillant Group, Ariston Thermo, Bradford White Corporation, Haier Electronics, Bosch Thermotechnology, Racold, Whirlpool Corporation, Rinnai Corporation, Rheem Manufacturing, Ferroli, Hubbell Electric Heater Company, Havells India Limited.
This report segments the Gas Water Heater market as follows:
By Type Segmentation Analysis
By Capacity Segmentation Analysis
- < 30 Liters
- 30-100 Liters
- 100-250 Liters
- 250-400 Liters
- > 400 Liters
By Fuel Segmentation Analysis
By Application Segmentation Analysis
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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