Home > Industrial Machinery > HVAC > Water Heater > Gas Water Heater Market

Gas Water Heater Market Size

Report ID: GMI706
Published Date: Dec 2024
Report Format: PDF

Download Free Sample

Gas Water Heater Market Size

The global gas water heater market was valued at USD 9.8 billion in 2024 and is estimated to grow at a CAGR of 6.7% from 2025 to 2034. A gas water heater is a device that heats water for domestic or commercial use by burning natural gas or propane as the fuel source. Gas water heaters serve a variety of purposes, including supplying hot water for bathing, cooking, cleaning, and space heating in homes, businesses, and other environments.

To get key market trends

Download Free Sample

Ongoing initiatives by various entities to boost the energy efficiency of their products, coupled with user-friendly interfaces that simplify access to temperature settings and diagnostic data, are set to bolster the industry's prospects. Additionally, the regular rollout of cutting-edge solutions—such as Wi-Fi connectivity, remote monitoring, and voice control—by key industry players, underscores a pronounced focus on both business and product expansion.

Gas Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2024
Gas Water Heater Market Size in 2024:	USD 9.8 Billion
Forecast Period:	2024 to 2034
Forecast Period 2024 to 2034 CAGR:	6.7%
2034 Value Projection:	USD 18.8 Billion
Historical Data for:	2021 to 2023
No. of Pages:	80
Tables, Charts & Figures:	20
Segments covered:	Product, Capacity, Application, Fuel and Region
Growth Drivers:	Growing demand for energy efficient water heaters Replacement of conventional water heating technology Stringent energy efficiency norms
Pitfalls & Challenges:	High installation costs

Learn more about the key segments shaping this market

Download Free Sample

On-demand hot water convenience, combined with smart features and environmental considerations, is set to boost the adoption of gas water heaters across diverse applications. The integration of advanced safety features, such as flame failure detection, overheat protection, and air quality sensors, will enhance product penetration. Homeowners and businesses are increasingly replacing their older, less efficient gas water heaters with newer, energy-efficient models, further fueling industry growth. Additionally, emerging markets are witnessing a surge in demand for gas water heating solutions.

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.