Home > Industrial Machinery > HVAC > Water Heater > U.S. Gas Water Heater Market

U.S. Gas Water Heater Market Trends

Report ID: GMI5691
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

U.S. Gas Water Heater Market Trends

Gas water heaters typically heat water faster than electric models, providing a more immediate supply of hot water and especially beneficial for larger households with high hot water demands which will stimulate the business statistics. Advances in technology have led to the development of high-efficiency gas water heaters, thereby strengthening the product penetration. Many areas in the U.S. have well-developed natural gas infrastructure, making it convenient and accessible for homeowners to choose gas water heaters. In addition, government programs that promote the use of natural gas as a clean alternative to electricity can enhance the appeal of gas water heaters, driving the market growth.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The U.S. market size for gas water heater was valued at USD 1.79 billion in 2023 and is expected to reach USD 3.05 billion by 2032, driven by a CAGR of 6.1% from 2024 to 2032.

The residential segment is expected to grow at a CAGR of over 5.5% till 2032, driven by the preference for energy-efficient solutions in areas with established natural gas infrastructure.

The natural gas segment is anticipated to exceed USD 1.03 billion by 2032, driven by the integration of smart technology and regulatory incentives promoting energy-efficient appliances.

Major players in the industry include A.O. Smith, American Water Heater, Ariston Thermo USA, Bosch Thermotechnology, Bradford White, Hubbell Heaters, Lennox International, and Noritz.