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North America Gas Water Heater Market Trends

Report ID: GMI7273
Published Date: Oct 2024
Report Format: PDF

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North America Gas Water Heater Market Trends

Many consumers are adopting smart water heaters connected to home automation systems, allowing for remote monitoring and control, which can increase the energy efficiency leading to enhanced product growth. Some utility providers are offering incentives for smart gas water heaters that allow for demand response programs, where heaters can be controlled to reduce energy usage during peak demand times, thereby augmenting interest in smart models. In addition, growing utilization across industrial applications especially in food service and manufacturing, are increasingly using high-capacity gas water heaters for cost savings.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America gas water heater was reached USD 2.3 billion in 2023 and is estimated to grow at a 6.4% CAGR from 2024 to 2032, driven by stricter energy efficiency regulations.

The commercial segment is projected to surpass USD 1 billion by 2032, due to the demand for reliable and cost-effective heating solutions in hotels and resorts.

The 100-250 liters gas water heaters segment is anticipated to grow at over 6% CAGR through 2032, owing to their capacity to supply sufficient hot water for daily needs while reducing fuel consumption.

The U.S. gas water heater market is predicted to hit USD 3 billion by 2032, driven by enhanced efficiency, reduced operating costs, and integration with smart home systems.

Key players in the industry include A. O. Smith, American Water Heater, Ariston Thermo USA, BDR Thermea Group, Bosch Thermotechnology, Bradford White Corporation, GE Appliances, Haier, Havells India, Hubbell Heaters, Lennox International, Noritz Corporation, Parker Boiler Company, Rheem Manufacturing Company, Rinnai America Corporation, State Industries, and Westinghouse Electric Corporation.