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Gas Water Heater Market Trends

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

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Gas Water Heater Market Trends

Optimized performance coupled with ongoing research and development activities and increasing accessibility to gas pipeline networks, will drive industry growth. Heightened investments by key players in innovations aimed at boosting efficiency and energy savings are poised to expand the market size. Increasing rollout of incentives to boost smart appliance usage, coupled with stringent government mandates and policies, is set to shape the industry's landscape. Moreover, as urbanization surges and consumers increasingly lean towards energy-efficient technologies, is poised to enhance product penetration.

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.