The “Gas Water Heater Market” 2024-2032 Research Report provides both qualitative and quantitative insights into market growth factors, limitations, opportunities, and challenges. It offers comprehensive market data on key players and revenue forecasts. The report includes revenue growth statistics for various and country-level markets, along with insights into competition and detailed company analyses for the projected period. The Gas Water Heater Market Report covers growth drivers, current market share, adoption of various types, technologies, applications, and trends up to 2032.
The global gas water heater market revenue was around US$ 7.8 billion in 2022 and is estimated to reach US$ 12.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2023 to 2032.
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A gas water heater is a heating device that utilizes energy from different external sources and moves it to heat the water. Water heaters come in different types like instant gas water heaters and storage gas water heaters.
Factors Influencing Market Growth
-The growth of the gas water heater market is caused by major factors like favorable government subsidies promoting the usage of water heaters.
-The surge in concerns among consumers toward energy and natural resources and the rise in the disposable income of consumers has a substantial positive influence on the gas water heater market.
-The high operating costs, rise in electricity prices, and technical issues related to electric water heaters are anticipated to propel the growth of the gas water heater industry.
-The fast urbanization and development of global regions in context with the construction of new commercial and residential infrastructure and buildings are expected to boost the opportunities for the gas water heater market.
Impact of COVID-19
The COVID-19 pandemic impacted the growth of the gas water heater market because of the shortages of workers, lockdown restrictions, and delays in several ongoing functions. The ongoing government mandates, the introduction of vaccination campaigns along with resumption of different industrial functions influenced the business dynamics.
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Asia-Pacific is anticipated to maintain its position in the global water heater market because of the huge demand from rural and urban regions. These growing countries are described by rise in income, population growth, and enhanced lifestyle. The surge in the leading players who are committed to introducing creative and affordable gas water heaters to address the requirement for hot water in this region is another driving factor.
The leading prominent companies profiled in the global gas water heater market are:
-Ariston Thermo S.p.A
-BDR Thermea Group
-Bradford White Corporation
-HTP Comfort Solutions LLC
-Rheem Manufacturing Company
-Noritz America Corporation
-State Industries, Inc.
-American Water Heaters
-Takagi Industrial Co. Ltd.
-Ariston Thermo S.p.A.
-Other prominent key players
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The global gas water heater market segmentation focuses on Installation Type, Fuel Type, Application, Product Type, and Region.
Segmentation based on Installation Type
Segmentation based on Fuel Type
Segmentation based on Application
Segmentation based on Product Type
Segmentation based on Region
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-Rest of Europe
-Rest Of Asia-Pacific
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviors, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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