Europe Gas Water Heater Market size exceeded USD 880 Million in 2019 and is anticipated to expand at 6.7% CAGR from 2020 and 2026.

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The market growth is on account of strict government regulations focusing to adopt energy efficient heating appliances and replacement of existing units. The Government of Russia is actively working toward replacement of age-old heating infrastructure with new energy efficient units. Ongoing technological advancement coupled with increasing concern toward high energy costs will enhance the product adoption.

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Abundant natural gas resources along with availability of piped natural gas for both residential and commercial consumers will stimulate the adoption of gas water heaters. Growing demand for modification of conventional systems and low emission heating units will encourage the product adoption. In addition, key advantages including, mass flow, clean combustion and deployment across remote off-grid areas will encourage their adoption over its substitutes.

Continuing establishment of residential projects coupled with rising infrastructural investments will stimulate the Austria gas water heater market. In addition, technological integration toward hybrid & flexible heating appliances and refitting of equipment in old networks will boost the product adoption. In addition, stringent government norms for enhancement of product efficiencies will encourage industry players to launch new product lines that further drive the business growth.

Growing consumer inclination toward newer technologies and product customization will boost the demand across gas water heater market. In addition, increasing investments toward development of smart communication and control features will enhance the business outlook. Rising customer inclination toward low carbon emission designs and high product life will encourage mass deployments.

Surging prices coupled with high operation costs of electricity will boost the demand for instant gas water heaters. Extensive technologies including energy optimization and high heating capabilities encourage their adoption. Requirement of immediate hot water requirement across commercial offices coupled with key benefits including low energy consumption and standby loss will further support the business growth.

Ongoing development activities toward refurbishing the existing pipeline network will fuel the gas water heater market size. Saving in electricity bills and low natural gas prices are some of the key benefits offered by the product. Rising investment across real state sector in regions including Norway, Sweden and Austria will accelerate the business landscape. For instance, in 2019 as per Savills, the real estate transaction volume reached over USD 16 billion during the first three quarter.

Introduction of advanced designs with extensive features including Wi-Fi integration and leakage detection systems will drive the commercial water heater market growth. To reduce the maintenance time and improve product life, the manufacturers are integrating new technologies including smart monitoring. For instance, in April 2019 A.O. Smith launched iCOMM connectivity platform for its gas water heater portfolio providing remote monitoring and essential data regarding health.

Growing tourism sector coupled with robust expansion of building infrastructure will fuel the France gas water heater industry. Several leading brands are establishing new hotels across the region to lift the tourism growth that will positively enhance the business outlook. In addition, continuous hot water demands across hospitality and healthcare will further support the product penetration.

Prominent players operating in the Europe gas water heater market includes A.O. Smith Corporation, Bradford White Corporation, Haier Electronics, Midea Group, Rinnai, Whirlpool, Racold, Ferroli and V-Guard. The companies are offering annual maintenance packages on the purchase of new gas water heater which will attract new customers resulting in increased product adoption.