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The US Water Heater Market is Set to Reach $5.08 Billion by 2029 - Gas & Oil Water Heaters Creating Lucrative Market Opportunities - Exclusive Focus Insight Report by Arizton
[May 21, 2024]

The US Water Heater Market is Set to Reach $5.08 Billion by 2029 - Gas & Oil Water Heaters Creating Lucrative Market Opportunities - Exclusive Focus Insight Report by Arizton


CHICAGO, May 21, 2024 /PRNewswire/ -- According to Arizton's latest focus insight report, the US water heater market is growing at a CAGR of 6.67% during 2024-2029.

U.S. Water Heater Market - Focused Insights 2024-2029

To Know More, Click: https://www.focusreports.store/report/us-water-heater-market

The US Water Heater Market Report Scope





Report Attributes?? 

Details?? 

Market Size (2029)???? 

$5.08 billion

Market Size (2023)?? 

$3.45 billion

CAGR (2023-2029)???? 

6.67 %

Historic Year?? 

2020-2022? 

Base Year?? 

2023

Forecast Year?? 

2024-2029? 


The US water heater market exhibits a notable trend of high replacement rates alongside construction projects, driven by increased disposable income and a growing population. With an increasing consumer base, homeowners are more inclined to replace aging water heaters with newer, advanced models. The growing population further contributes to a surge in construction, leading to the installation of additional water-heating units.

Advances such as energy-efficient features, multiple water temperature settings, and a space-saving design not only enhance the efficiency of water heaters but also cater to the diverse requirements of consumers. The popularity of horizontal water geysers in compact spaces, particularly urban apartments, significantly affected the water heater market. With the increasing trend toward smaller living spaces, consumers are seeking appliances that optimize available rooms and enhance their homes' overall aesthetics. For instance, A.O. Smith offers horizontal water heaters, HAS-X1, with key features such as longer shelf life, advanced PUF insulation, high energy efficiency, and power savings. The company expands its product portfolio and increases its consumer base in the market.

Key Development

  • In 2023, Bradford White, one of the key vendors, launched Brute XTR commercial boilers and volume water heaters, featuring key elements such as a low-pressure drop water tube heat exchanger, water connections, a convenient touchscreen, and others. With this, the company aims to attract a wide range of consumers and gain a competitive advantage in the market.
  • In 2023, Rheem Manufacturing Company, one of the key vendors launched the RTGH Series super high-efficiency condensing and RTG series high-efficiency non-condensing tankless gas water heaters, featuring sustainability, up to 34% and 25% less energy usage, integrated digital display, Econet Wi-Fi, leak guard system, and industry-leading clearance for flexible installation.

The Gas & Oil Water Heater Market to Hold the Dominate Position in the US Water Heater Market

Gas & oil water heaters use gases such as natural gas and LPG, requiring a gas line hookup. Gas water heaters come in various sizes, ranging from as small as 20 gallons to as large as 100 gallons. They boast energy efficiency of over 80–85%. The average lifespan of a tank gas water heater is about 8–12 years. In addition, approximately 60% of natural gas is utilized for space and water heating, cooking, and clothes drying.

Gas & oil water heaters have historically dominated the US market due to their widespread availability, relatively low fuel cost, and quick heat recovery times. This dominance is expected to continue due to the abundance of natural gas in the US and the established infrastructure for oil distribution.

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Segmentation & Forecast

Product

  • Gas & Oil
  • Electric
  • Heat Pumps
  • Solar

Category

  • Storage
  • Instant

Distribution Channel

  • Offline
  • Online

End-User

  • Residential
  • Commercial

Region

  • Midwest
  • Northeast
  • South
  • West

Vendors List

Key Vendors

  • A.O. Smith
  • Bradford White Corporation
  • General Electric
  • Rinnai
  • Rheem Manufacturing Company

Other Prominent Vendors

  • Apricus Solar
  • Heliodyne Inc.
  • HTP Inc.
  • Hubbell Inc.
  • Intelli Inc.
  • Kingspan
  • Kenmore
  • Lennox International
  • Midea
  • Navien Inc.
  • Noritz American Corporation
  • SunMaxx Solar
  • RECO
  • Alternate Energy Technologies
  • Sioux Corporation
  • SunEarth Inc.
  • Stiebel Eltron Inc.
  • Viessmann Manufacturing Co.
  • Bock Water Heaters Inc.
  • BSH
  • Eccotemp

Key Questions Answered in the Report:

How big is the U.S. water heater market?

What is the growth rate of the U.S. water heater market?

What are the future drivers of the U.S. water heater market?

Which region is the fastest growing in the U.S. water heater market?

Who are the major players in the U.S. water heater market?

Get this Report for Lesser with Our Subscription Services: https://www.focusreports.store/report/us-water-heater-market

Table of Contents

CHAPTER – 1: U.S. Water Heater Market Overview

  • Executive Summary
  • Introduction
  • Key Findings

CHAPTER – 2: U.S. Water Heater Market Projected Revenue

  • U.S.: Projected Revenue of Water Heater (2024-2029; $Billions)

CHAPTER – 3: U.S. Water Heater Market Segmentation Data

  • US: Projected Revenue by Product Type (2024-2029); (Revenue $ B.N.)
  • Product Type Snapshot
  • Gas & Oil
  • Electric
  • Heat Pumps
  • Solar
  • U.S.: Projected Revenue by Category (2024-2029); (Revenue $ B.N.)
  • Category Snapshot
  • Storage
  • Instant
  • U.S.: Projected Revenue by Distribution Channel (2024-2029); (Revenue $ B.N.)
  • Distribution Channel Snapshot
  • Offline
  • Online
  • U.S.: Projected Revenue by End-User (2024-2029); (Revenue $ B.N.)
  • End-User Snapshot
  • Residential
  • Commercial

CHAPTER – 4: U.S. Water Heater Market Prospects & Opportunities

  • U.S. Water Heater Market Trends
  • U.S. Water Heater Market Drivers
  • U.S. Water Heater Market Constraints

CHAPTER – 5: U.S. Water Heater Market Industry Overview

  • U.S. Water Heater Market - Competitive Landscape
  • U.S. Water Heater Market - Key Players
  • U.S. Water Heater Market – Other Prominent Vendors

CHAPTER – 6: Appendix

  • Research Methodology
  • Abbreviations
  • About Arizton

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About Focused Reports by Arizton

Welcome to Focused Reports, an esteemed Arizton Advisory & Intelligence subsidiary committed to delivering precise and insightful market research reports across all key geographies. Our unique selling proposition lies in our affordable pricing, accurate data, in-depth research, and presentation-ready reports. With us, expensive market research is a thing of the past. We aim to be strategic, providing valuable data. Focus Reports is where folks come to name their ideas, create a compelling brand and a great-looking website, and attract customers with digital and social marketing.

About Us:

Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Contact Us:
Call: +1-312-235-2040
Mail: [email protected]

Website: https://www.focusreports.store/

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