Gas Water Heater Market Size By Product (Instant ,Storage), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), By Application (Residential, Commercial [College/University, Office, Government/Military]), By Fuel (Natural Gas, LPG), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 - 2026

Industry Trends

Gas Water Heater Market size exceeded USD 7 billion in 2019 and annual installation is anticipated to surpass 57 million units by 2026. Increasing need to address the peak hour hot water demands across all commercial building infrastructures coupled with the timely availability of supply will accelerate the business growth.
 

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A gas water heater comprises a burner installed at the bottom along with a chimney running up that works on the principle of convection. The heat rises upward and increases the temperature of the cold water entering via supply tube. It possesses a thick PUF insulation to avoid water from cooling and can either be powered by natural gas or LPG.
 

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Growing focus on product advancement and differentiation will accelerate the gas water heater market growth

Advanced craftsmanship designing and technological innovations like AI enabled UI display, remote monitoring, and Wi-Fi enabled connectivity will fuel the gas water heater industry demand. The manufacturers are launching new models in accordance with respective energy efficiency standards with an aim to minimize the carbon emissions. In addition, shifting focus toward product innovation and competitive pricing will positively enhance the industry outlook.
 

Un-compromised water pressure, high water holding capacity, and instant supply of hot water are some of the key features being incorporated by the companies. Low maintenance cost, ease of installation, and energy-efficient fuel type are making these units favorable when compared to their available counterparts. Furthermore, surge in replacement of conventional units with highly efficient star rated technologies will positively enhance the business outlook.
 

Storage gas water heaters will grow at over 6.5% CAGR through 2026

The availability of varying design options in storage units along with un-compromised water pressure and low maintenance cost will fuel the gas water heater market outlook. The tank systems provide large volume of hot water and is well suited for multi-families in comparison to a tankless unit.
 

In addition, growing deployment across all commercial spaces like airport, hospitals and hotels owing to advanced operational benefits, communication enabled control features will further complement the industry landscape.
 

Availability of varied capacity systems will stimulate the global gas water heater industry growth

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Surging deployment of 30-100 liters water heaters across residential or small commercial complexes will complement the gas water heater market share. These systems are widely deployed across multi-family establishments, bathrooms and kitchens to meet the instant hot water requirements throughout the day. Companies are providing competitive pricing coupled with ongoing upgradations will further encourage the product adoption.
 

Increasing number of immigrants coupled with growing urban population will facilitate the adoption of 100-250 liters water heaters. The units are immensely deployed across commercial facilities including restaurants, airports, hospitals and public toilets. Availability of multiple large capacity models integrated with advanced technology have significantly accelerated the business growth. For instance, the restaurant and resorts require large hot water supplies for use across washrooms, kitchens, saunas, and swimming pools.
 

Infrastructural expansion along with surging investments toward pipeline development will drive the product demand across residential establishments

Residential segment of gas water heater market is set to grow at an appreciable pace, on account of worldwide multi-community infrastructural expansion. Establishment of city gas distribution projects and large-scale introduction of pipeline network along with stringent government policies fixated at achieving high efficiency standards will boost the product deployment.
 

For instance, Racold facilitates its units suited for family households by introducing double solenoid valve pertaining to safety and additional features like child lock and automatic cutoff after 20 minutes.
 

Ongoing investments to facilitate innovation and integration of new technologies including enhanced communication system coupled with green building norms will positively influence the gas water heater industry growth. For instance, as per the energy ace code, a program initiated by the California Public Utilities Commission, mandates energy efficiency with respect to plumbing and water heaters across all households.
 

The LPG based water heaters accounted for over 54% of revenue share in year 2019

The product offers variety of fuel options including natural gas and LPG facilitating reliable counterpart to electric units thus edging towards the positive market growth. Adverse climatic conditions and availability of government incentives on energy efficient appliances plays a vital role in adoption of these water heating units.
 

Despite high cost, prevailing unavailability of connection points in all regions has led to increased adoption of LPG (propane and butane mix) over its natural gas counterpart.
 

Key advantages including lower sulphur content and higher calorific value thus facilitating less gas requirement to produce the exact amount of heat will positively enhance the industry outlook. The propane gas tends to settle down and is less safe than the natural gas however, ability to burn consistently and providing a significant drop in energy bills will stimulate the gas water heater market size.
 

Increased population count and booming manufacturing sector will drive the Asia Pacific gas water heating market trends

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Asia Pacific, North America, and Latin America will lead the overall market, with a combined revenue share of over 85% in 2019. Mass population count to cater to, exclusive manufacturing facilities and availability of low-cost labor will significantly enhance the business outlook.
 

For instance, as per World Economic Forum 60% of global population resides in Asia Pacific. Furthermore, extreme cold winters pertaining to adversely changing climate along with robust adoption of new energy efficient smart water heating technologies will complement the market statistics.
 

Product innovations and mergers will favor the global market demand

Eminent players across the gas water heater market are focusing toward product upgradation and merger & acquisitions as their key growth strategies. The companies operating across the market include A.O Smith, Lennox, BDR Thermea 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, State Water Heaters, American Standard Water Heaters, HTP Comfort Solutions, Parker Boiler Company, Vaillant Group, Westinghouse Electric Corporation and Noritz Corporation.
 

Global gas water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:
 

By Product

• Instant
• Storage

By Capacity

• <30 Liters
• 30-100 Liters
• 100-250 Liters
• 250-400 Liters
• >400 Liters

By Application

• Residential
• Commercial
  • College/University
  • Offices
  • Government/Military
  • Others

By Fuel

• Natural Gas
• LPG

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Austria
  • Spain
  • Netherland
  • Denmark
  • Finland
  • Sweden
  • Norway
• Eurasia
  • Russia
  • Belarus
  • Armenia
  • Kazakhstan
  • Kyrgyzstan
• CIS
  • Azerbaijan
  • Moldova
  • Tajikistan
  • Turkmenistan
  • Ukraine
  • Uzbekistan
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Singapore
  • Thailand
  • New Zealand
  • Philippines
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Bahrain
  • Oman
  • Turkey
  • South Africa
  • Nigeria
  • Algeria
  • Egypt
  • Israel
  • Cyprus
  • Lebanon
  • Iraq
• Latin America
  • Brazil
  • Argentina
  • Chile
  • Mexico