APAC Gas Water Heater Market size is projected to surpass USD 38.6 billion by 2026, according to a latest forecast report by Graphical Research.
Asia Pacific Gas Water Heater Market Growth will witness an upsurge on account of extensive research & development activities toward product upgradation and strict government regulations toward the adoption of energy efficient equipment. Increasing demand for refurbishment of existing heating infrastructure with new efficient units will stimulate the industry growth. Furthermore, shifting consumer preference toward efficient heating appliances coupled with surging concern for emission reduction will positively influence the business outlook.
Low initial cost, ease of replacement and high efficiency are some of the key benefits which will stimulate the storage gas water heater market size. Stringent regulatory standards toward building efficiency and energy labelling along with expanding service sector will favor the product adoption. In addition, increasing real estate investment primarily across emerging economies including India and China will drive the business growth.
Ongoing modification of conventional systems coupled with increasing demand of low emission heating units will drive the China gas water heater market growth. Surging adoption of customized products along with government initiatives to introduce sustainable energy systems will fuel the product penetration. In addition, growing consumer focus toward adoption of tailored products equipped with smart control heating facilities and home automation systems will foster the industry growth.
100-250 liters capacity market is projected to expand on account of compact size, high durability and constant hot water supply. Increasing applicability across commercial establishments including hospitals, hotels, airports and educational institutions will positively influence the business landscape. Availability of multiple large capacity models integrated with advanced technologies will accelerate the industry growth.
Ongoing government norms toward reduction of emissions along with robust growth across real estate sector will stimulate the residential applications. Large-scale introduction of pipeline network coupled with increasing infrastructural investments will encourage the product adoption. Ongoing electrification programs along with accelerating investment toward deployment of energy efficient & cost-effective heating systems will augment the business landscape.
Malaysia gas water heater market is set to grow on account of rapid urbanization and expanding gas infrastructure across off-grid and remote areas. Ongoing technological advancement including energy optimization and high heating capabilities along with digital temperature control systems will complement the product penetration. Low maintenance cost, energy-efficient fuel type and ease of installation are making these systems favorable when compared to its available counterparts.
Eminent industry participants operating in the industry includes Vaillant, A.O. Smith, Lennox, BDR Thermea, HTP Comfort, Ariston Thermo, Rinnai, Ferroli, Havells India, Bosch, Haier Electronics and Racold. The companies are announcing new products and introducing advanced technologies to expand their presence in the industry.