PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1666712
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1666712
Gas Water Heater Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Gas Water Heater Market reached USD 9.8 billion in 2024 and is anticipated to grow at a CAGR of 6.7% from 2025 to 2034. Gas water heaters, which utilize natural gas or propane as fuel sources, are essential for heating water in residential and commercial spaces. These systems are commonly used for bathing, cooking, cleaning, and space heating, making them indispensable in modern households and businesses.
The rising demand for energy-efficient appliances and solutions to reduce utility costs is a major driver for the gas water heater market. Regulatory frameworks focusing on low NOx emissions and environmentally friendly technologies push manufacturers to develop innovative products. The expansion of urban infrastructure, including smart cities, is further fueling the adoption of gas water heaters as they align with energy conservation goals and regulatory requirements.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $9.8 Billion |
| Forecast Value | $18.8 Billion |
| CAGR | 6.7% |
The instant gas water heater segment is expected to generate USD 6 billion by 2034, driven by its ability to provide on-demand hot water and reduce energy consumption. These units are increasingly preferred for their competitive pricing, diverse capacities, and convenience, particularly in areas with frequent power outages. Growing environmental awareness and the demand for appliances that support sustainable living are boosting the popularity of these systems.
The commercial segment is projected to grow at a CAGR of 7.5% through 2034, supported by advancements in product innovation and strategic alliances among market players. Expanding city gas distribution networks and pipeline projects are making fuel more accessible, while strict efficiency standards are driving demand for high-performance systems. The growing adoption of smart appliances to minimize carbon emissions and enhance operational efficiency shapes the commercial sector's growth.
The U.S. gas water heater market is forecasted to reach USD 3 billion through 2034. Heightened environmental consciousness and stringent energy regulations are prompting manufacturers to innovate, offering enhanced features like Wi-Fi connectivity, remote control, and integration with smart home systems. The focus on sustainability steers the development of low-emission models made from eco-friendly materials, aligning with evolving consumer and regulatory expectations.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market Definitions
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 – 2034
Chapter 3 Industry Insights
- 3.1 Industry ecosystem
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
Chapter 4 Competitive landscape, 2024
- 4.1 Introduction
- 4.2 Strategic dashboard
- 4.3 Innovation & technology landscape
- 4.4 Company market share
Chapter 5 Market Size and Forecast, By Product, 2021 – 2034 (USD Million & ‘000 Units)
- 5.1 Key trends
- 5.2 Instant
- 5.3 Storage
Chapter 6 Market Size and Forecast, By Capacity, 2021 – 2034 (USD Million & ‘000 Units)
- 6.1 Key trends
- 6.2 Below 30 Liters
- 6.3 30 – 100 Liters
- 6.4 100 – 250 Liters
- 6.5 250 – 400 Liters
- 6.6 >400 Liters
Chapter 7 Market Size and Forecast, By Application, 2021 – 2034 (USD Million & ‘000 Units)
- 7.1 Key trends
- 7.2 Residential
- 7.3 Commercial
- 7.3.1 College/University
- 7.3.2 Offices
- 7.3.3 Government/Building
- 7.3.4 Others
Chapter 8 Market Size and Forecast, By Fuel, 2021 – 2034 (USD Million & ‘000 Units)
- 8.1 Key trends
- 8.2 Natural gas
- 8.3 LPG
Chapter 9 Market Size and Forecast, By Region, 2021 – 2034 (USD Billion)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 France
- 9.3.3 Germany
- 9.3.4 Italy
- 9.3.5 Austria
- 9.3.6 Spain
- 9.3.7 Netherlands
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Australia
- 9.4.3 India
- 9.4.4 Japan
- 9.4.5 South Korea
- 9.5 Middle East & Africa
- 9.5.1 Saudi Arabia
- 9.5.2 UAE
- 9.5.3 Qatar
- 9.5.4 Kuwait
- 9.5.5 Oman
- 9.6 Latin America
- 9.6.1 Brazil
- 9.6.2 Argentina
- 9.6.3 Chile
- 9.6.4 Mexico
Chapter 10 Company Profiles
- 10.1 American Water Heater
- 10.2 Ariston Thermo
- 10.3 A. O. Smith
- 10.4 BDR Thermea Group
- 10.5 Bosch Thermotechnology Corp.
- 10.6 Bradford White Corporation
- 10.7 FERROLI S.p.A
- 10.8 Hubbell Heaters
- 10.9 Havells India Ltd.
- 10.10 Haier Inc.
- 10.11 Lennox International Inc.
- 10.12 Noritz Corporation
- 10.13 Parker Boiler Company
- 10.14 Rheem Manufacturing Company
- 10.15 Rinnai America Corporation
- 10.16 State Industries
- 10.17 Vaillant
- 10.18 Westinghouse Electric Corporation
