U.S. Gas Water Heater Market Analysis

U.S. Gas Water Heater Market Analysis

The U.S. instant gas water heater market is expected to witness 8.5% growth during 2023-2032. Continuous requirement for traditional units to be refurbished with on-demand water heating systems will increase the product deployment. Some of the primary features comprising efficient operation, swift operating, compact size, and low power consumption will improve the business landscape. Moreover, the investments for the establishment of green building infrastructure due to rising consumer demand for high-capacity systems will foster the business growth.
 

Storage gas water heater industry is anticipated to grow due to increasing demand for energy savings across building infrastructures, as well as growing customer preference for hot water storage systems. Some of the attributes that will complement the product demand are easy installation, fuel flexibility, low cost, and minimum flow rate requirements. Moreover, ongoing technological advancements comprising of smart control technology and remote-control features will augment the business potential.
 

30-100 liters gas water heater market in U.S. is expected to cross a valuation of USD 630 Million in 2032. Improvements in the living standards together with growing use of low-capacity units especially in single and multi-family residences will continue to boost the industry demand. The developments for advanced product customization and the increasing product innovations will expand the business landscape. However, favorable investments by the private and public sectors for the development of green infrastructures will have a positive impact on the industry scenario.
 

Growing need for water heating solutions across universities, offices, and government buildings will drive the requirement of 100-250 liter units. Technological upgradation and integration of advanced management and control systems will influence a broad customer base for the key industry players. New designs equipped with Wi-Fi connectivity, monitoring software, and voice activation will enhance the product's functionality and efficiency thereby positively influencing the business landscape.
 

Above 400-liter water heating systems are commonly used across commercial buildings with significant demand for hot water. Extreme climatic conditions primarily across the northern states of the country will further improve the product installation. In addition, growing implementation of energy efficient regulations and policies especially for commercial buildings will encourage the gas water heater market demand across the country.
 

Residential gas water heater industry is valued at over USD 1.4 billion in 2022. Rising disposable incomes along with increasing demand for hot water across residential fuels including cooking, cleaning, bathing, among others will support in substantial cost savings which will enhance the industry landscape. Growing population across economies, urban mobilization along with shifting customer preferences toward contemporary and smart products would improve the business statistics. Additionally, the development of favorable government norms and policies to enable energy efficiency as well as rising consumer interest in lowering energy bills and ensuring energy conservation will drive the product demand.
 

Increasing deployment across the facilities including hospitals and healthcare facilities, educational institutes and government organizations among others will drive the U.S. commercial water heater market growth. Growing requirement to comply with energy efficiency guidelines along with ongoing construction mandates and codes will support the refurbishment activities, thereby driving the business growth. Utilization of gas and tankless heating systems supports to negate the carbon & GHG emissions, contributing to both water and energy conservation. Ongoing construction of new colleges and office buildings throughout the cities will further foster the product demand.
 

LPG gas water heater market is poised to attain 5% gains between 2023 and 2032 led by the enhanced availability of multiple fuel options. Extreme and adverse climatic conditions in various geographies coupled with availability of multiple government incentives is set to accelerate the industry statistics. High cost in the regions combined with unavailability of multiple connection points is set to favor the product penetration over its natural gas counterparts. In addition, clean and efficient systems, compact and energy efficient units are some of the vital features which will drive the industry trends.
 

U.S. gas water heater industry is estimated to amass USD 3 billion by 2032. Extensive growth of the entertainment & tourism industry along with the growing corporate sector has proved to be a major boom for the commercial water heater market in the U.S. Growing dependency toward the hospitality industry along with growing demand for efficient water heating systems across hotels, casinos, restaurants, and hospitals will enhance the business outlook. Moreover, surging seasonal space heating demand along with increasing dispensable income will further complement the industry overview.