European Gas Water Heater Market size is slated to reach USD 1.4 billion by 2026, according to a latest forecast report by Graphical Research.
The market growth is on account of strict government regulations for adoption of energy efficient devices along with extensive research & development activities toward product development. Growing demand for refurbishment of existing heating equipment’s with new efficient units will positively influence the business outlook. In addition, rising concern for emission reduction along with shifting consumer preference toward efficient heating appliances will stimulate the industry growth.
Availability of piped natural gas across both commercial and residential establishments will enhance the UK gas water heater market size. Increasing demand of low emission heating units along with ongoing modification of conventional systems will drive the business growth. Furthermore. growing customer inclination toward adoption of customized products equipped with smart control heating facilities and home automation will fuel the product penetration.
Low initial cost, high efficiency and ease of replacement are some of the vital parameters which will stimulate the storage gas water heater market. Increasing real estate investment primarily across Germany, Poland and Italy along with stringent regulatory norms and standards toward building efficiency and energy labelling will favor the product adoption. In addition, increasing concern toward emissions reduction coupled with expanding service sector across the region will drive the business growth.
Spain gas water heater market will witness an upsurge of account of rising infrastructural investments along with expanding residential establishments. Increasing adoption of customized products along with government initiatives to introduce clean energy systems will foster the industry growth. Ongoing technological advancement including energy optimization and high heating capabilities along with digital temperature control will complement the product penetration.
Tankless gas water heater market is anticipated to expand on account of compact size, constant hot water supply and high durability. Low natural gas prices and saving in electricity bills are key advantages which will complement the industry outlook. Increasing use across commercial establishments including schools, colleges, hospitals and malls will positively influence the business landscape.
Ongoing government norms toward curtailment of emissions along with stringent building efficiency norms and standards will stimulate the commercial applications. Introduction of advanced products with extensive features including leakage detection systems and Wi-Fi integration will augment the technological adoption. Increasing investment toward development of energy efficient & cost-effective product along with flexible heating appliances will encourage the product adoption.
Eminent industry participants across the operating across the industry includes A.O. Smith, Bradford White, US Craft Master, Rinnai, Rheem, Kenmore Limited, Reliance Water Heaters, Whirlpool, Lochinvar, American Water Heaters, State Water Heaters, Noritz, Racold, Ferroli and V-guard. The companies are introducing new products and developing advanced technologies to meet the competition prevailing in the industry.
Europe Gas Water Heater Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
Europe Gas Water Heater Market Size, By Application
Europe Gas Water Heater Market Share, By Product