Gas Water Heater Market Forecast by 2024 Key Vendors Are State Water Heaters, American Water Heaters, Kenmore, Reliance Water Heaters, US Craft Master, Whirlpool, Lochinv

Sellbyville, DE -- (SBWire) -- 10/10/2018 --Stringent government norms toward integration of energy efficient products coupled with growing demand for refurbishment of existing heating pipelines and systems will drive the gas water heater market size. Regulatory reforms pertaining to enhanced product efficiencies along with increasing consumer awareness towards emission control will further enhance the industry outlook. In 2017, Government of Canada enacted the federal Energy Efficiency Regulations 2016 to amend the existing mandates. The amendment implements improved energy efficiency standards subject to consumer product manufacture in the country and further homogenize domestic standards with that adopted by the U.S.

Residential gas water heater market in 2016, was valued over 25 million units. Ongoing residential establishments across developing countries favoured by rising infrastructural investments will stimulate the product demand. Advancing real estate sector coupled with growing demand for refitting of existing infrastructure will foster the product penetration. Rapid technological advancements along with increasing measures to reduce product standby losses will further thrust the industry growth.

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Growing demand for refurbishment of the conventional systems along with increasing demand for low emission heating units will foster the U.S. gas water heater market. Increasing investments towards development of customized products favoured by integration of smart temperature control devices will positively influence the business outlook.

Strong economic factors including payback period and initial costs will further embellish the product demand. In 2017, General Electric in collaboration with Department of Energy (DOE) launched its Geo Spring Hybrid Water Heater. As per DOE, the product estimates 62% less energy consumption in comparison to a standard 50-gallon water heater.

Germany gas water heater market share is predicted to witness gain over 1% by 2024. Growing environmental constraints coupled with increasing adoption of advanced heating technologies will foster the business landscape. Favorable government initiatives along with growing consumer awareness toward ecological balance will further stimulate the product demand.

Frequent amendments in the European Directive 2009/125/EC to include and regulate advancing heating and cooling technologies including smart control heaters will positively impact the business growth. Increasing concerns to reduce emissions during the use phase of products along with improved product life expectancies will further drive the gas water heater market.

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Notable players in gas water heater market include Rinnai, A.O. Smith, Rheem, Bradford White, American Water Heaters, State Water Heaters, Kenmore, US Craft Master, Reliance Water Heaters, Whirlpool, Noritz, Lochinvar, Racold, Ferroli, and V-guard.

Gas water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of unit shipment and USD from 2013 to 2024, for the following segments:

Gas Water Heater Market, By Product
- Storage
- Residential
- Commercial
- Industrial
- Tankless
- Residential
- Commercial
- Industrial

Gas Water Heater Market, By Application
- Residential
- Commercial
- College/Universities
- Office
- Government/Military
- Others