North America Residential Gas Storage Water Heater Market Size - By Capacity (< 20 gallon, 20-30 gallon, 31-40 gallon, 41-50 gallon, > 50 gallon), By Fuel (Natural Gas, LPG), By Power (Powered, Non Powered), By Air Mix Type & Forecast, 2024 - 2032

North America Residential Gas Storage Water Heater Market Size - By Capacity (< 20 gallon, 20-30 gallon, 31-40 gallon, 41-50 gallon, > 50 gallon), By Fuel (Natural Gas, LPG), By Power (Powered, Non Powered), By Air Mix Type & Forecast, 2024 - 2032

North America Residential Gas Storage Water Heater Market size will grow at 6.2% CAGR between 2024 and 2032, owing to technological advancements and the strong consumer preference for energy-efficient appliances. As manufacturers introduce innovative designs and features to enhance efficiency and performance, consumers in the region are increasingly prioritizing energy-saving solutions to reduce utility costs and environmental impacts. This shift in preference towards eco-friendly appliances will drive the demand for gas storage water heaters, encouraging further innovations in the residential heating sector. For instance, in February 2023, Rheem unveiled Rheem® Maximus™, a gas water heater boasting exceptional efficiency on account of its powerful burner design.

The North America residential gas storage water heater market is segmented into power, capacity, air mix type, fuel, and country.

By capacity, the industry size from the 41–50 gallon segment will witness considerable growth by 2032, propelled by its optimal capacity for catering to the needs of most households efficiently. With a balance between size and functionality, these water heaters offer versatility and reliability, making them the preferred choice for residential applications. As consumers prioritize energy efficiency and performance, the demand for gas storage water heaters in the 41–50-gallon range will remain robust in the coming years.

With respect to air mix type, the North America residential gas storage water heater industry from the power direct vent segment will record substantial CAGR during 2024-2032. This is driven by its efficient venting system, which allows flexible installation options and improved safety. With rising concerns about indoor air quality and energy efficiency, power direct vent water heaters are favored as they offer an attractive solution. They also boast of an ability to provide reliable hot water while minimizing heat loss and emissions.

Canada residential gas storage water heater market will capture a noteworthy CAGR between 2024 and 2032, fueled by colder climates and the high demand for efficient heating solutions. As Canadian households prioritize reliability and energy efficiency, the demand for gas storage water heaters is rising. With its major contribution to the heating needs and technological innovations in the country, the product is likely to record significant adoption in the forecast period.