What is the global market size of Gas Water Heater Market?

Gas Water Heater Market size was valued at USD 8.38 Billion in 2023 and is poised to grow from USD 8.85 Billion in 2024 to USD 13.7 Billion by 2032, growing at a CAGR of 5.60% during the forecast period (2025-2032).

Who are the key vendors in the Gas Water Heater Market?

The market for gas water heaters is very competitive, with both well-known industry leaders and up-and-coming companies competing for a piece of the expanding market for energy-efficient water heating solutions. A.O. Smith, Ariston Thermo S.p.A, BDR Thermea Group, Bosch Thermotechnology, Bradford White Corporation, Haier Electronics, HTP Comfort Solutions LLC, Lennox, Racold, and Rheem Manufacturing Company are significant companies in this industry. These businesses use their distribution networks, technological know-how, and strong brand image to sustain a sizable presence. 'A.O. Smith (United States)', 'Ariston Thermo S.p.A (Italy)', 'BDR Thermea Group (Netherlands)', 'Bosch Thermotechnology (Germany)', 'Bradford White Corporation (United States)', 'Alpha Therm Ltd. (United Kingdom)', 'Haier Electronics (China)', 'HTP Comfort Solutions LLC (United States)', 'Lennox (United States)', 'Viessmann Group (Germany)', 'Racold (India)', 'Rheem Manufacturing Company (United States)', 'Takagi Industrial Co., Ltd. (Japan)', 'Noritz Corporation (Japan)', 'Rinnai Corporation (Japan)', 'Eemax, Inc. (United States)', 'State Industries (United States)', 'Navien, Inc. (South Korea)', 'Paloma Industries, Inc. (Japan)', 'Giant Factories Inc. (Canada)'

Top Gas Water Heater Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Gas Water Heater Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Gas Water Heater industry players.

Gas Water Heater Market Competitive Landscape

Rising consumer knowledge of the advantages of energy-efficient gas water heaters, notably in terms of lower energy consumption and environmental effect, is one of the factors driving this competitive market. Leading manufacturers are releasing cutting-edge and reasonably priced gas water heaters to address the rising demand for hot water in both the residential and commercial sectors as sustainability becomes a top priority. Condensing gas-fired systems and heat pump technology are a couple of the advancements that have helped gas water heaters become more effective and appealing.

Gas Water Heater Market Top Player’s Company Profiles

A.O. Smith (United States)

Ariston Thermo S.p.A (Italy)

BDR Thermea Group (Netherlands)

Bosch Thermotechnology (Germany)

Bradford White Corporation (United States)

Alpha Therm Ltd. (United Kingdom)

Haier Electronics (China)

HTP Comfort Solutions LLC (United States)

Lennox (United States)

Viessmann Group (Germany)

Racold (India)

Rheem Manufacturing Company (United States)

Takagi Industrial Co., Ltd. (Japan)

Noritz Corporation (Japan)

Rinnai Corporation (Japan)

Eemax, Inc. (United States)

State Industries (United States)

Navien, Inc. (South Korea)

Paloma Industries, Inc. (Japan)

Giant Factories Inc. (Canada)

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FAQs

Gas Water Heater Market size was valued at USD 9.75 Billion in 2024 and is poised to grow from USD 10.34 Billion in 2025 to USD 16.48 Billion by 2033, growing at a CAGR of 6% during the forecast period (2026–2033).

The market for gas water heaters is very competitive, with both well-known industry leaders and up-and-coming companies competing for a piece of the expanding market for energy-efficient water heating solutions. A.O. Smith, Ariston Thermo S.p.A, BDR Thermea Group, Bosch Thermotechnology, Bradford White Corporation, Haier Electronics, HTP Comfort Solutions LLC, Lennox, Racold, and Rheem Manufacturing Company are significant companies in this industry. These businesses use their distribution networks, technological know-how, and strong brand image to sustain a sizable presence. 'A.O. Smith (US)', 'Rheem (US) ', 'Rinnai (Japan) ', 'Bosch Thermotechnology (Germany) ', 'Bradford White (US) ', 'Ariston Thermo (Italy) ', 'Noritz (Japan) ', 'Stiebel Eltron (Germany) ', 'Vaillant Group (Germany) ', 'BDR Thermea (Netherlands) ', 'Ferroli (Italy) ', 'Haier (China) ', 'Navien (South Korea) ', 'Paloma (Japan) ', 'Takagi (Japan) ', 'American Water Heaters (US) ', 'Honeywell (US) ', 'Grundfos (Denmark) ', 'Slant/Fin (US)'

Airlines are updating their aircraft to improve fuel economy and save expenses. Older aircraft are being replaced with new ones that have cutting-edge landing gear technology as part of this modernization program.

Technology innovation: The efficiency of gas water heaters and the attractiveness of consumers are increased by constant innovations in the industry, for example, the development of heat pump systems and condensed gas systems.

The examination of the Asia-Pacific area includes a number of important nations, such as China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. Due to their enormous populations and the increased need for hot water, especially during the winter, India and China stand out as major actors in this vast region. The Asia-Pacific region dominates the worldwide water heater market in terms of revenue generation, mostly due to the substantial demand it receives from both urban and rural regions. These emerging countries are characterized by steady population growth, rising incomes, and higher living standards. The region's rising need for hot water has been successfully addressed by a boom in prominent industry companies developing innovative and affordable gas water heaters. Throughout the projection period, these activities work as a group to significantly fuel the market's growth trajectory in the Asia-Pacific region.

Top Gas Water Heater Companies

Gas Water Heater Market Competitive Landscape

FAQs

What is the global market size of Gas Water Heater Market?

Who are the key vendors in the Gas Water Heater Market?

What is the key driver of Gas Water Heater Market?

What is the key market trend for Gas Water Heater Market?

Which region accounted for the largest share in Gas Water Heater Market?

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