Ocean View, DE -- (SBWire) -- 04/08/2020 --Increasing development of gas distribution pipelines and introduction of smart water heating will influence gas water heater market forecast. Surging concerns over energy conservation has steered the adoption of gas water heaters primarily in households as the product consumes relatively lesser amount of energy during the process of heating.
According to a report by Global Market Insights, Inc., global gas water heater market size is projected to surpass 57 million units in terms of annual installations by 2026.Initiatives undertaken by the governments and certain recognized authorities to facilitate sustainable construction and ensure energy efficiency to reduce carbon emission levels and its consequent environmental degradation has led to the introduction of green buildings. These green buildings support the use of low energy consuming equipment to lower carbon dioxide emission levels.
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Rise in economic development in both developed and emerging nations has led to the construction of large commercial spaces such as shopping complexes, airports, and other public facilities deploy heaters above 250 liters capacity units at large. Certain parts of the world experience extreme weather conditions like snow and negative degrees. These countries require a strong central and space heating system to provide interior warmth. Moreover, these units are increasingly used in the hospitality sector for hot water jacuzzies and indoor swimming pools. Extreme cold conditions in the UK are steering the demand for the equipment throughout region.
The deployment of reliable heating systems in remote military and outdoor applications like rooftops and pavements along with the stringent policies regarding the establishment of zero-emission buildings will supplement the product demand. Industry players in the region are increasingly focusing on the development of innovative products. Low cost of operation, mass flow capabilities and clean combustion are some of the advantages associated with the rising use of natural gas water heaters across the globe. Growing access to gas pipeline networks owing to the demand for advanced infrastructure and frequent power outages in emerging countries will outline the adoption of natural gas. Additionally, unique features like temperature regulation, remote control, ignition, and gas control coupled with enhanced performance will bolster gas heater installation in the coming years.
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Technological advancements in the field such as the use of digital temperature control and electronic thermostats have generated considerable profits for gas water heater manufacturers. Several companies are exploiting renewed market opportunities and focusing on the development of sustainable and diversified product spectrum. Major industry players include A.O Smith, Lennox, BDR Thermea Group, Ariston Thermo, Bradford White Corporation, Haier Electronics, Bosch Thermotechnology, Racold, Whirlpool Corporation, Rinnai Corporation, Rheem Manufacturing, Ferroli, Hubbell Electric Heater Company, Havells India Limited, State Water Heaters, American Standard Water Heaters, HTP Comfort Solutions, Parker Boiler Company, Vaillant Group
Many government measures have been undertaken to ensure energy efficiency and has compelled the gas water heater market players to conduct research activities to ensure high product quality and output. Analyzing the current trends, the industry is constantly witnessing competition owing to the presence of a several manufacturers across the globe. Energy efficiency and cost-effectiveness are two main frameworks underlining the competitive landscape.
