U.S. Gas Water Heater Market Size

U.S. Gas Water Heater Market Size

U.S. gas water heater market size was valued at USD 1.79 billion in 2023 and is estimated to grow at a CAGR of 6.1% from 2024 to 2032. A gas water heater is an appliance that heats water for residential or commercial use using natural gas or propane as its fuel source. It typically consists of a storage tank that holds a specified volume of water and a burner that heats the water as needed.

To get key market trends

  Download Free Sample

Ongoing advancements in technology and changes in consumer behavior along with higher adoption in areas with established natural gas infrastructure will drive the industry scenario. The tankless models offer benefits such as on-demand heating and space savings, appealing to homeowners looking for efficiency and convenience, contributing to the product demand. Further, many governments are implementing supportive policies, including tax credits, feed-in tariffs, and renewable energy targets, will encourage the product adoption.
 

Shifting focus on consumers on High-efficiency gas water heaters, which often come with better insulation and improved burner technology owing to both rising energy costs and environmental concerns will drive the product demand. The U.S. government has implemented stricter energy efficiency standards for water heaters, pushing manufacturers to innovate and produce more efficient gas models, thereby contributing to the business momentum. Additionally, utility companies and government programs provide rebates for purchasing energy-efficient gas water heaters, which can stimulate adoption and make these products more attractive to consumers.