Gas Water Heater Market size is predicted to hit USD 9 billion by 2024
Category: #business  By Ashwin Naphade  Date: 2019-09-11
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Gas Water Heater Market size is predicted to hit USD 9 billion by 2024

Global Market Insights added a report on global Gas Water Heater Market that provide in-depth information about market overview, top vendors, Key market highlights, product types, market drivers, challenges, trends, industry landscape, size and forecast, five forces analysis, Key leading countries/Region.

Gas Water Heater Market size is predicted to surpass USD 9 billion by 2024. Rising demand for the upgradation of aged heating systems and pipelines coupled with stringent government norms pertaining to energy efficient products will stimulate the gas water heater market. Increasing consumer awareness toward energy conservation along with regulatory reforms toward improved product efficiencies will further embellish the business outlook. The government of Canada in 2017, enacted the Energy Efficiency Regulation 2016 to amend the current targets. The aim of amendment is toward improving energy efficiency standards and to homogenize the domestic standards as adopted by the U.S.

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The gas water heater market from residential was valued over 25 million units in 2016. Rising demand for refitting of infrastructure and advancing real estate sector will fuel the business landscape. Rising infrastructure spending along with increasing residential establishments across the developing economies will further compliment the industry outlook. Increasing measures to decrease product standby losses and rapid technological advancement will favor the industry outlook.

Growing investments in research and development to reduce cost of power along with ongoing government initiatives toward development of sustainable energy technologies will foster the gas water heater market in China. Residential establishments to integrate the renewable energy technologies coupled with rapid commercialization will further stimulate the product penetration. The CSEPCR Strategy of China aims at addressing the environmental and economic challenges and energy security in the nation.

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Rising demand for low emission heating systems coupled with growing investments toward advanced and customized products will favor the gas water heater market share in the U.S. Ongoing upgradation and refurbishment of existing heating networks along with smart temperature control devices integration will embellish the product demand.

Initial cost and net pay back period are some of the strong economic factors which will further drive the industry landscape. The GE in 2017 in collaboration with DOE introduced Geo Spring Hybrid Water Heater. The product is estimated to consume 62% less energy compared to the standard 50-gallon water heater.

Gas water heater market in Germany is projected to expand over 1% by 2024.Growing awareness towards ecological balance along with favorable government initiatives will foster the product penetration. Growing adoption of advanced and innovative heating technologies along with frequent amendments in EU directives to regulate and include advancing cooling and heating technologies will embellish the industry landscape. Improved product life and growing concerns to reduce carbon footprint will further propel the product outlook.

Key players in the gas water heater market includes V-guard, Rinnai, American Water Heaters, A.O. Smith, Kenmore, U.S. Craft Master, Whirlpool, Reliance Water heaters, Lochinvar, Bradford White, State Water Heaters, Rheem, Ferroli and Noritz.

 

Partial Table of Contents (ToC) of the report:

Chapter 4. Company Profiles

4.1. A.O. Smith

4.1.1.   Business Overview

4.1.2.   Financial Data

4.1.3.   Product Landscape

4.1.4.   Strategic Outlook

4.1.5.   SWOT Analysis

4.2. Rinnai

4.2.1.   Business Overview

4.2.2.   Financial Data

4.2.3.   Product Landscape

4.2.4.   Strategic Outlook

4.2.5.   SWOT Analysis

4.3. Bradford White

4.3.1.   Business Overview

4.3.2.   Financial Data

4.3.3.   Product Landscape

4.3.4.   Strategic Outlook

4.3.5.   SWOT Analysis

4.4. Rheem

4.4.1.   Business Overview

4.4.2.   Financial Data

4.4.3.   Product Landscape

4.4.4.   Strategic Outlook

4.4.5.   SWOT Analysis

4.5. State Water Heaters

4.5.1.   Business Overview

4.5.2.   Financial Data

4.5.3.   Product Landscape

4.5.4.   Strategic Outlook

4.5.5.   SWOT Analysis

4.6. American Water Heaters

4.6.1.   Business Overview

4.6.2.   Financial Data

4.6.3.   Product Landscape

4.6.4.   Strategic Outlook

4.6.5.   SWOT Analysis

4.7. Kenmore

4.7.1.   Business Overview

4.7.2.   Financial Data

4.7.3.   Product Landscape

4.7.4.   Strategic Outlook

4.7.5.   SWOT Analysis

4.8. Reliance Water Heaters

4.8.1.   Business Overview

4.8.2.   Financial Data

4.8.3.   Product Landscape

4.8.4.   Strategic Outlook

4.8.5.   SWOT Analysis

4.9. US Craft Master

4.9.1.   Business Overview

4.9.2.   Financial Data

4.9.3.   Product Landscape

4.9.4.   Strategic Outlook

4.9.5.   SWOT Analysis

4.10.     Whirlpool

4.10.1. Business Overview

4.10.2. Financial Data

4.10.3. Product Landscape

4.10.4. Strategic Outlook

4.10.5. SWOT Analysis

4.11.     Lochinvar

4.11.1. Business Overview

4.11.2. Financial Data

4.11.3. Product Landscape

4.11.4. Strategic Outlook

4.11.5. SWOT Analysis

4.12.     Noritz

4.12.1. Business Overview

4.12.2. Financial Data

4.12.3. Product Landscape

4.12.4. Strategic Outlook

4.12.5. SWOT Analysis

4.13.     Racold

4.13.1. Business Overview

4.13.2. Financial Data

4.13.3. Product Landscape

4.13.4. Strategic Outlook

4.13.5. SWOT Analysis

4.14.     V-guard

4.14.1. Business Overview

4.14.2. Financial Data

4.14.3. Product Landscape

4.14.4. Strategic Outlook

4.14.5. SWOT Analysis

4.15.     Ferroli

4.15.1. Business Overview

4.15.2. Financial Data

4.15.3. Product Landscape

4.15.4. Strategic Outlook

4.15.5. SWOT Analysis

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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