North America Gas Water Heater Market Size - By Product (Instant, Storage), By Application (Residential, Commercial [College/University, Offices, Government/Military]), By Fuel (Natural Gas, LPG), Capacity & Forecast, 2023 - 2032
North America gas water heater market size is anticipated to expand at 6.3% CAGR from 2023 to 2032. The rising consumer demand for energy-efficient and cost-effective water heating solutions is fueling the demand for gas water heaters in North America. The increasing awareness of environmental sustainability is driving the inclination towards cleaner energy sources. For instance, in April 2023, Canadian manufacturer Transom announced the launch of the CO2 (R744) air-to-water commercial hot-water heat pump in North America, designed specifically for multi-family dwellings and long-term facilities for efficient hot water production.
The soaring technological innovations are further leading to the development of advanced and smart water heating systems for improving user convenience. The rising government initiatives for promoting energy-efficient appliances and the stringent regulations regarding emissions will also play a significant role in shaping the market growth curve.
The North America gas water heater market is bifurcated into capacity, product, fuel, application, and country.
Based on product, the industry value from the instant gas water heaters segment is projected to rise at substantial CAGR between 2023 and 2032. The growth can be attributed to the increasing demand for on-demand hot water solutions, energy efficiency, and advancements in instant heating technologies. The rising consumer preference for quick and efficient heating options will also fuel the product adoption across the region.
North America gas water heater industry share from the commercial application segment is estimated to record significant CAGR through 2032, owing to the rising demand from businesses and institutions for reliable, energy-efficient hot water solutions. Moreover, the surging awareness of cost savings coupled with the growing advancements in commercial heating technologies will favor the segment growth.
In terms of country, the Canada gas water heater industry size is slated to expand at rapid pace from 2023 to 2032. The growth can be attributed to the increasing consumer demand for energy-efficient appliances, rising focus on environmental sustainability, and higher advancements in gas water heating technology. Additionally, the influx of government initiatives for promoting energy efficiency will stimulate market growth across the country.
- Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Unpaid sources
- Chapter 2 North America Gas Water Heater Industry Insights
- 2.1 Industry ecosystem analysis
- 2.1.1 Vendor matrix
- 2.2 Regulatory landscape
- 2.3 Industry impact forces
- 2.3.1 Growth drivers
- 2.3.1.1 Stricter energy efficiency regulations
- 2.3.1.2 Increasing urbanization and product innovation
- 2.3.1.3 Frequent blackouts and growing demand from remote locations
- 2.3.1.4 Rising demand for energy-efficient water heaters
- 2.3.2 Industry pitfalls & challenges
- 2.3.2.1 High installation cost
- 2.3.2.2 Availability of counterparts
- 2.4 Growth potential analysis
- 2.5 Porter's Analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
- 2.6 PESTEL Analysis
- Chapter 3 Competitive Benchmarking
- 3.1 Innovation & sustainability landscape
- 3.2 Competitive landscape, 2022
- 3.2.1 Strategic dashboard
- Chapter 4 North America Gas Water Heater Market, By Product
- 4.1 Key product trends
- 4.2 Instant
- 4.3 Storage
- Chapter 5 North America Gas Water Heater Market, By Capacity
- 5.1 Key capacity trends
- 5.2< 30 liters
- 5.3 30 - 100 liters
- 5.4 100 - 250 liters
- 5.5 250 - 400 liters
- 5.6 > 400 liters
- Chapter 6 North America Gas Water Heater Market, By Application
- 6.1 Key application trends
- 6.2 Residential
- 6.3 Commercial
- 6.3.1 College/university
- 6.3.2 Offices
- 6.3.3 Government/Military
- 6.3.4 Others
- Chapter 7 North America Gas Water Heater Market, By Fuel
- 7.1 Key application trends
- 7.2 Natural gas
- 7.3 LPG
- Chapter 8 North America Gas Water Heater Market, By Country
- 8.1 Key country trends
- 8.2 U.S.
- 8.3 Canada
- Chapter 9 Company Profiles
- 9.1 A. O. Smith
- 9.2 Lennox International Inc.
- 9.3 Ariston Thermo USA LLC
- 9.4 BDR Thermea Group
- 9.5 Bosch Thermotechnology Corp.
- 9.6 Bradford White Corporation
- 9.7 GE Appliances
- 9.8 Haier Inc.
- 9.9 Rheem Manufacturing Company
- 9.10 American Water Heater
- 9.11 Rinnai America Corporation
- 9.12 State Industries
- 9.13 Hubbell Heaters
- 9.14 Havells India Ltd.
- 9.15 Westinghouse Electric Corporation
- 9.16 Parker Boiler Company
- 9.17 Noritz Corporation
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