Stratview Research published a new report on the Gas Water Heater Market that offers detailed segmentation of the market based on Product Type, Capacity Type, Fuel Type, Application Type and Region. According to the report, Gas water heater market is likely to witness a healthy CAGR of 5.8% during the forecast period. The growing demand for hot water in both commercial and residential applications is likely to boost the demand for gas water heater in the market during the forecast period.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Covid Impact –
The Corona Virus Pandemic has caused significant losses in nearly every industry all over the world. The pandemic has had a rapid impact on the global economy, affecting the market’s manufacturing, demand, and distribution network. The Gas Water Heater Market has also been influenced by the unprecedented COVID-19 outbreak. The market analysts have thoroughly examined the market and gathered insightful data related to covid impact such as before and after market size, regional impact, financial losses, organic and inorganic growth factors, etc.
Leading players in the market –
To build a successful business, it is vital to understanding the market – both the customers and the competitors. The report published consists of a list of key players active in the Gas Water Heater Market, is given below –
- A.O. Smith
- Ariston Thermo S.p.A
- BDR Thermea Group
- Bosch Thermotechnology
- Bradford White Corporation
- Haier Electronics
- HTP Comfort Solutions LLC
- Rheem Manufacturing Company
Get a free sample report here:
Gas Water Heater Market Share: By Product Type
Based on the product type, the market is segmented as instant and storage. The storage segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The storage water heater comprises a tank which provides large volume of hot water which well suites the requirements for multi-families compared to the instant or tankless heater.
Gas Water Heater Market Share: By Capacity Type
Based on the capacity type, the market is segmented as <30 liters, 30-100 liters, 100-250 liters, 250-400 liters, and >400 liters. The 30-100 liters segment is expected to remain dominant during the forecast period owing to requirement for hot water in both commercial and residential applications throughout the day.
Gas Water Heater Market Share: By Fuel Type
Based on the fuel type, the market is segmented as natural gas and LPG. The LPG segment is expected to remain dominant during the forecast period due to government incentives for energy efficient appliances. LPG facilitates reliable substitute to electric heaters. Despite high cost and unavailability of connection points, there has been a boost in the adoption of LPG over the natural gas heaters.
Gas Water Heater Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing gas water heater market during the forecast period, with China, Japan, India, and Australia being the major countries offering promising growth opportunities. The growth of the market is owing to the increasing population and extensive growth of the manufacturing sector in the Asia-Pacific region.
FAQs in the report –
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
- How big is the potential Gas Water Heater Market?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
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