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  • Gas Water Heater Market Analysis | 2023-2028

    Gas Water Heater Market Analysis | 2023-2028

    Gas Water Heater Market Analysis | 2023-2028
    Report code - SRCG147 Delivery - 2 Weeks
    Gas Water Heater Market Size, Share, Trends, Dynamics, Forecast, Industry, & Growth&nb See more...

    Market Insights

    The Gas Water Heater Market was estimated at USD 9.13 billion in 2022 and is likely to grow at a CAGR of 5.56% during 2023-2028 to reach USD 12.68 billion in 2028.

    Gas-Water-Heater-Market-Size

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    What is Gas Water Heater?

    Gas water heaters are made out of aluminum composite material. They are flat panels consisting of two thin coated aluminum sheets connected to a non-aluminum core. Gas water heaters are majorly used for external cladding or facades of buildings, insulation, signage, and making shipping containers.

    Gas water heaters are coated with different materials such as PE and PVDF. They find extensive usage in different applications such as building & construction, advertising, and transportation.

    Gas Water Heater Market Highlights

    Market Size in 2028

    USD 12.68 Billion

    Market Size in 2022

    USD 9.13 Billion

    Market Growth (2023-2028)

    CAGR of 5.56%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Dominant Region

    Asia Pacific is estimated to be the largest as well as the fastest-growing gas water heater market during 2023-2028.

    Market Dynamics

    The growing demand for hot water in both commercial and residential applications is likely to boost the demand for gas water heater in the market during the forecast period.

    Gas-Water-Heater-Market-Snapshot
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    Segment Analysis

    By Product Type

    The market is segmented as instant and storage. The storage segment held the larger share of the market in 2022, and is expected to remain dominant during the forecast period. The storage water heater comprises a tank which provides large volume of hot water which well suites the requirements for multi-families compared to the instant or tankless heater.

    By Capacity Type

    The market is segmented as <30 liters, 30-100 liters, 100-250 liters, 250-400 liters, and >400 liters. The 30-100 liters segment is expected to remain dominant during the forecast period owing to requirement for hot water in both commercial and residential applications throughout the day.

    By Fuel Type

    The market is segmented as natural gas and LPG. The LPG segment is expected to remain dominant during the forecast period due to government incentives for energy efficient appliances. LPG facilitates reliable substitute to electric heaters. Despite high cost and unavailability of connection points, there has been a boost in the adoption of LPG over the natural gas heaters.

    Regional Analysis

    Asia-Pacific is estimated to be the largest as well as the fastest-growing gas water heater market during the forecast period, with China, Japan, India, and Australia being the major countries offering promising growth opportunities. The growth of the market is owing to the increasing population and extensive growth of the manufacturing sector in the Asia-Pacific region.

    Gas-Water-Heater-Market-Regional-Analysis

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Gas Water Heater Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The gas water heater market is segmented into the following categories:

    By product type:

    • Instant
    • Storage

    By capacity type:

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

    By fuel type:

    • Natural Gas
    • LPG

    By application type:

    • Residential
    • Commercial
      • (Application Type Analysis: College/University, Offices, Government/Military, and Others)

    By region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Key Players

    Some of the major gas water heater manufacturers are-

    • A.O. Smith
    • Ariston Thermo S.p.A
    • BDR Thermea Group
    • Bosch Thermotechnology
    • Bradford White Corporation
    • Haier Electronics
    • HTP Comfort Solutions LLC
    • Lennox
    • Racold
    • Rheem Manufacturing Company

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Gas Water Heater Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Customization Option

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by application type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Gas water heaters are made out of aluminum composite material. They are flat panels consisting of two thin coated aluminum sheets connected to a non-aluminum core. Gas water heaters are majorly used for external cladding or facades of buildings, insulation, signage, and making shipping containers.

    The gas water heater market is likely to reach USD 12.68 billion by 2028.

    A.O. Smith, Ariston Thermo S.p.A, BDR Thermea Group, Bosch Thermotechnology, Bradford White Corporation, Haier Electronics, HTP Comfort Solutions LLC, Lennox, Racold, and Rheem Manufacturing Company.

    The gas water heater market was estimated at USD 9.13 billion in 2022.

    Asia-Pacific is estimated to be the largest as well as the fastest-growing gas water heater market during 2023-2028.

    The gas water heater market is projected to grow at a CAGR of 5.56% during the forecast period.

    The growing demand for hot water in both commercial and residential applications is likely to boost the demand for gas water heater in the market during the forecast period.

    The storage segment held the larger share of the market in 2022, and is expected to remain dominant during 2023-2028.