- Opportunity and Forecast, 2016 - 2025
Gas water heater are designed to save energy, reduce costs, and improve efficiency in construction activities. Technological innovation has enabled introduction of various features including digital displays for assistance in monitoring levels and customized operations. Manufacturers need to improvise designs and introduce new features for meeting demands according to changing customer preferences.
The gas water heaters display pressure reading and tank temperature. In construction activities, lifespan of device plays an important role as it may wear off over the period of time. So, manufacturers are developing gas water heaters with corrosion resistance and longer lifespan.
The global gas water heater market is supplemented by the surge in demand from the retail and hospitality sector. Moreover, government initiatives for energy efficiency and the growth in housing industry drive this market. However, electricity shortage and frequent power-cuts may restrict market growth. However, change in preferences of consumer toward technological advanced and sophisticated products are expected to present growth opportunities for companies operating in the market.
The global gas water heater market is segmented on the basis of technology, storage, tank-less heaters, and geography. Technology segment includes solar, electric, and hybrid. Geographically, the market is subsegmented into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa.
Major players profiled in the report include American Water Heater Company, Rheem, Crompton Greaves, A.O. Smith, Bradford White, Rinnai America Corp., Haier, and Siemens. These major manufacturers have adopted new product launches, collaborations, merger & acquisition, joint ventures, expansion, and partnership, strategies to gain stronger position in the global market.
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