Gas Water Heater Market Revenue to Exceed $14 Billion by 2030:

Selbyville, Delaware, June 6, 2022 (GLOBE NEWSWIRE) —

The gas water heater market is expected to register a valuation of USD 14 billion by 2030, as reported in a research study by Global Market Insights Inc. Changing consumer trends towards efficient and smart water heating technologies as well as ongoing developments in gas distribution pipelines are poised to accelerate system adoption. The growing number of smart city construction projects coupled with the systems resulting in a substantial drop in electricity bills is expected to complete the industry scenario.

Shifting customer focus to infrastructure development for large commercial spaces, including airports, shopping complexes and government complexes, among others, will drive demand for 250-400 liter units. The growing requirement for these systems, primarily in the hospitality industry where they are used in indoor swimming pools and hot water Jacuzzis, is expected to favor the industry landscape. In addition, the increasing adoption of central and space heating systems, especially in Nordic countries (such as Sweden and Denmark) which experience extreme climatic conditions, is likely to influence product penetration.

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Growing carbon and GHG emissions and increasing concerns about energy efficiency accompanying modern technological advancements will drive the growth of the commercial water heater industry. The introduction of government mandates to regulate the use of energy efficient appliances is expected to increase product installation.

The natural gas water heater market is estimated to grow above 7.0% CAGR by 2030 due to new product developments, including remote control, temperature control, gas control and ignition, as well as optimized performance and ongoing research and development activities that will support the industry. Due to COVID-19, natural gas prices are rising, reducing overall demand. However, increasing accessibility to gas pipeline networks due to frequent power outages and lower electricity bills will drive the gas water heater market trends.

The growth of the US gas water heater market is driven by the increasing adoption of hot water equipment owing to the extreme climatic conditions of the country. Ongoing government mandates toward zero-emission buildings coupled with mass deployments of systems in remote, military, and other outdoor applications, including rooftops, to propel product adoption. Additionally, eminent market players are focusing on strategic growth ventures in addition to smart product innovations to achieve a diversified product portfolio.

The major players operating in the gas water heater market are Haier, AO Smith, Bosch Thermotechnology, Rheem Manufacturing, Westinghouse Electric Corporation, Rinnai America Corporation, Ferroli, Bradford White, Hubbell Heaters, Havells India Limited, American Standard Water Heater, Vaillant Group, BDR Thermea Group, State Industries, Noritz Corporation and Lennox International, among others.

Some Key Findings of the Gas Water Heater Market Report Include:

  • Ongoing oil and gas exploration along with an increasing number of Central Gas Distribution (CGD) projects leading to the easy availability of fuel will bolster the market outlook.
  • Stringent government mandates and policies combined with the introduction of incentives to improve the use of smart appliances will explain the growth of the gas water heater market.
  • Growing demand for the products, followed by key benefits offered including Wi-Fi enabled devices, PUF insulation coating, after-sales services and ease of installation will drive product adoption.
  • Various financing programs for the construction of establishments by private and public companies are put in place to generate commercial momentum.

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Partial chapters of the table of contents (TOC) of the report:

Chapter 3 Gas Water Heater Market Overview
3.1 Industry Ecosystem Analysis
3.2 Innovation and technology landscape
3.2.1 Rinnai America Corporation
3.2.2 Ariston Thermo India
3.2.3 A. O. Smith
3.2.4 RHEEM Manufacturing
3.2.5 State industries
3.2.6 Ariston Operation
3.3 Regulatory landscape
3.4 Impact of COVID-19 on Industry Outlook
3.5 Impact of Rising Raw Material Prices on HVAC Equipment
3.6 Impact of Russian-Ukrainian War on Industry Dynamics
3.7 Industry impact forces
3.7.1 Drivers of growth North America and Latin America Growing demand for energy efficient water heaters Replacement of conventional water heating technology Europe Strict energy efficiency standards Growing demand for replacement of existing water heaters Asia-Pacific and MEA Rapid urbanization and advanced product customization Increasing demand for energy efficient systems Frequent power outages and growing demand from off-grid areas
3.7.2 Industry Pitfalls and Challenges High installation cost Availability of counterparties
3.8 Analysis of growth potential
3.9 Porter’s analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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