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Gas Water Heater Market Trends

Report ID: GMI706
Published Date: Oct 2023
Report Format: PDF

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Gas Water Heater Market Trends

The convenience of on-demand hot water coupled with smart features and environmental considerations will drive the adoption of gas water heaters across various applications. Advanced safety features comprising flame failure detection, overheat protection along with air quality sensors to ensure safe operation will proliferate the product penetration. Furthermore, emerging markets showing increased demand for gas water heating solutions in line with homeowners and businesses are replacing older, less efficient gas water heaters with newer, more energy-efficient models will complement the industry growth.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market valuation of gas water heater was worth USD 9.38 billion in 2023 and is anticipated to reach USD 16.75 billion by 2032.

The instant gas water heater market is anticipated to record over 6.4% through 2032, owing to the increasing consumer preference for appliances that reduce energy consumption and lower utility bills, along with competitive product pricing and availability of multi-capacity variants.

The gas water heater market for North America will record more than 6.5% CAGR from 2023 to 2032, attributed to the presence of leading players in the country and modern technological advancements.

A. O. Smith, Lennox International Inc., Ariston Thermo USA LLC, BDR Thermea Group, Ariston Holding N.V., Bosch Thermotechnology Corp., Bradford White Corporation, Haier Inc., Ariston Thermo India Private Limited, Rheem Manufacturing Company, American Water Heater, and Rinnai America Corporation.