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

Published Date: Feb 2021  |  Report ID: GMI706  |  Authors: Ankit Gupta, Srishti Agarwal

Report Format: PDF   |   Pages: 650   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Gas Water Heater Market size exceeded USD 7.5 billion in 2020 and yearly installation is anticipated to surpass 35.7 million units by 2027. Growing need to address the hot water requirements across both residential and commercial buildings along with rising demand from off grid areas will augment the business growth. In addition, rising consumer awareness associated with advanced technological development will accelerate the industry landscape.
 

Gas Water Heater Market

Get more details on this report - Request Free Sample PDF
 

The outbreak of coronavirus, also known as COVID-19 has largely impacted the global economy. The virus initially recognized in December 2019 in China’s Hubei province has consequently resulted in a global health threat. The novel virus has impacted more than 140 countries causing lockdowns in a few countries, thereby, restricting the industry outlook. Nevertheless, continual demand for new strategies to respond to the existing crisis including surging investments in the real estate sector is set to affect the business landscape.
 

Gas Water Heater Market Report Coverage
Report Coverage Details
Base Year:2020Historical Data for:2017 to 2020
Market Size in 2020:7.5 Million (USD)Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:7.3%No. of Pages:650
2026 Value Projection:59.4 Million Units Tables, Charts & Figures:1533
Geographies covered (7):North America, Europe, Eurasia, CIS, Asia Pacific, Middle East & Africa, LATAM
Segments covered:Product, Capacity, Application, Fuel
Growth Drivers:
  • North America & Latin America
    • Growing demand for energy efficient water heaters
    • Replacement of conventional water heating systems
  • Europe
    • Stringent energy efficiency norms
    • Growing demand for replacement of existing water heaters
  • Asia Pacific & MEA
    • Rapid urbanization and advancing product customization
    • Increasing demand for energy efficient systems
    • Frequent power outages and growing demand from remote off grid areas
Pitfalls & Challenges:
  • High installation cost
  • Availability of counterpart

Get more details on this report - Request Free Sample PDF
 

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

Product advancements along with technical innovations comprising remote monitoring, AI enabled UI display, and Wi-Fi enabled connectivity is set to drive the gas water heater industry share. The industry players are focused at launching new models with respect to the stated energy efficiency standards to minimize the carbon emissions. Key factors comprising ease of installation, low maintenance cost, along with energy-efficient fuel type make the systems favorable in comparison to its counterparts.
 

Shifting focus toward new product development suiting customer requirements coupled with competitive pricing is anticipated to positively enhance the business outlook. High water holding capacity, instant supply of hot water and un-compromised water pressure, are the features included by the companies in the new products. Additionally, surging replacement and upgradation of the conventional units with highly efficient star rated technologies will drive the business outlook.
 

Storage gas water heater market will grow at over 7% through 2027 on account of growing installation in both residential & commercial spaces

Surging deployment of the units across various commercial spaces including hospitals, airports, and hotels on account of communication enabled control features and advanced operational benefits is set to complement the storage gas water heater market trends. The availability of varying capacity options along with low maintenance cost and un-compromised water pressure will augment the industry landscape. The tank systems provide large volume of hot water and is primarily suitable for single and multi-families when compared to a tankless unit.
 

Ongoing development of smart city construction projects coupled with zero emission green building projects is anticipated to drive the product demand. For instance, as per the World Economic Forum, over 50% of the buildings constructed in China are in accordance with the energy efficiency standards. Substantial growth across the tourism sector, rising urban migration and increasing customer awareness toward smart and energy efficient appliances will further increase the product deployment.
 

Availability of multiple capacity systems will stimulate the gas water heater industry forecast

Global Gas Water Heater By Capacity

Get more details on this report - Request Free Sample PDF
 

Growing deployment of below 30 liters water heaters across small commercial complexes and residential apartments will augment the gas water heater industry size. The units are largely deployed across various multi-family establishments, in the kitchens & bathrooms to meet the daily hot water requirements. The industry manufacturers are focused at providing competitive pricing along with ongoing product upgradations which will further influence the business scenario.
 

Growing urban migration along with increasing urbanization primarily in the upcoming economies will accelerate the installation of 30-100 liters water heaters. The systems are largely utilized across the commercial facilities comprising airports, restaurants, hospitals, and shopping complexes. Availability of variety of large capacity models along with newly developed technology have significantly enhanced the industry statistics. The rising demand from resorts and restaurants with instant hot water supplies for use in kitchens, washrooms, swimming pools and saunas is set to strengthen the business landscape.
 

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

Residential gas water heater market will grow owing to multi-community infrastructural expansion along with ongoing expansion of high-rise buildings. Establishment of large-scale introduction of pipeline network and city gas distribution projects along with strict mandates to achieve high efficiency standards is set to influence the product demand. For instance, Racold enables its systems befitting various family households, pertaining to different safety features including automatic cutoff after 20 minutes and child lock, among others.
 

Ongoing foreign and national investments to enable product innovation, increasing research & development activities coupled with incorporation of new technologies comprising of improved communication system is set to propel the gas water heater business growth.
 

The LPG water heaters accounted for more than 6% of revenue share in year 2020

The unit is available in a range of fuel options comprising of both LPG and natural gas, edging towards positive gas water heater market statistics. Adverse and extreme climatic conditions in certain geographies along with availability of government incentives on utilization of smart & efficient hot water equipment will augment the product demand. Prevailing unavailability of connection points along with high cost across the regions primarily favors the penetration of LPG over its natural gas counterparts.
 

Booming manufacturing sector will augment the Europe gas water heater industry size

Japan market, By Fuel

Get more details on this report - Request Free Sample PDF
 

Europe gas water heater market will contribute over USD 400 Million of revenue share from 2021 to 2027. Strict government norms regulating the deployment of efficient electrical appliances coupled with stringent environment standards focused on limiting carbon emissions is set to influence the product installation. Growing number of manufacturing facilities along with rising requirement for on demand heating from residential & commercial establishments is set to drive the industry statistics.
 

Strategic growth ventures will favor the gas water heater market forecast

The key players operating across the gas water heater market focus primarily on product upgradation along with joint ventures as their substantial growth strategies. The manufacturers in the market comprise of Lennox, A.O Smith, BDR Thermea Group, Bradford White Corporation, Ariston Thermo, Haier Electronics, Racold, Whirlpool Corporation, Bosch Thermotechnology, Rinnai Corporation, Ferroli, Rheem Manufacturing, Hubbell, State Water Heaters, Havells India Limited, American Standard Water Heaters, HTP Comfort Solutions, Vaillant Group, Noritz Corporation and Westinghouse Electric Corporation. Further, they involve in forward integration strategies to provide after sales services to suit the customer requirements.
 

Global gas water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2027, 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
       

Frequently Asked Questions (FAQ) :

The global gas water heater industry size was over USD 7.5 billion in 2020 and is expected to witness more than 35.7 million units in annual installations through 2027.
Europe market for gas water heaters is anticipated to reach USD 400 million between 2021-2027 with increasing demand for heating from both commercial and residential sectors.
Factors driving gas water heater demand worldwide include product developments and innovations like Wi-Fi connectivity, AI based UI display and increasing ease of installation.
Some of the leading players in gas water heater market include Racold, A. O. Smith, Ariston Thermo, Bosch Thermotechnology, Vaillant Group, American Standard Water Heaters, Whirlpool Corporation and Ferroli, among many others.

Premium Report Details

  • Published Date: Feb 2021
  • Pages: 650
  • Tables: 1500
  • Charts / Figures: 33
  • Companies covered: 21
  • Countries covered: 7

Get a report that explains COVID-19 impact on this market, request a free sample now

Buy NowImmediate delivery available

Need a Discount? Get in touch with us for special pricing

Request Discount

 Connect with our sales team

Benefits of Association

Data Coverage & Quality

GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.

Client Trust & Security

GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.

Customer Service

Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.

GMIPulse, our report store

We have introduced ‘GMIPulse’, which is our report store; designed to offer clients a one-stop platform for all market research and business intelligence requirements. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. GMIPulse allows you to track relevant industries and stay informed with latest innovation, competitive and regulatory developments to help design strategic framework.

Chat with us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X