February 28, 2020
According to a recent study titled ‘Europe Gas Water Heater Market Size By Application, Product, Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report LLC, Europe gas water heater market is projected to witness a significant growth by the end of 2026.
Stringent government regulations for incorporating energy efficient devices and increasing research & development towards new product innovations are driving Europe gas water heater market. Upgradation of existing water heating equipment with new efficient systems is positively impacting the market growth. Rising efforts towards lowering emissions coupled with growing consumer inclination for efficient heating appliances will enhance the market outlook over the forecast timeline.
Increasing availability of piped natural gas across commercial and residential sector will boost the product adoption across the region. Rising demand for low emission heating units in tandem with retrofitting of conventional systems is driving the business growth. Furthermore, introduction of advanced products with smart control feature and home automation solutions will augment the market growth in the coming future.
Based on the product type, Europe gas water heater market is bifurcated into instant and storage. Storage segment is expected to hold significant market share over the predicted timeframe, on account of several benefits including low initial cost, high efficiency, and easy replacement. Inflowing real estate investments especially in Germany, Poland, and Italy, along with strict building codes and energy labelling are stimulating the product demand.
Speaking of the application scope, Europe gas water heater market is segmented into residential, commercial, and industrial. Commercial segment is anticipated to record substantial growth over the analysis period, owing to the implementation of strict government norms for abatement of emissions along with the growing adoption of advanced products with features including leakage detection systems and Wi-Fi. Additionally, increasing installation of tankless gas water heaters across commercial establishments such as schools, colleges, hospitals, and malls on account of small space footprint, constant hot water supply, and high durability is positively impacting the segmental revenue.
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As per the regional analysis, Europe gas water heater market is divided into UK, Germany, France, Spain, Italy, Austria, Denmark, Netherland, Finland, Norway, and Sweden. Spain gas water heater market is slated to grow momentously in the forthcoming period, on account of ongoing infrastructure development and expansion of residential establishments. High adoption rate of customized products coupled with government initiatives to promote clean energy systems will further expand the regional business landscape.
Prominent players of Europe gas water heater market include Bradford White, A.O. Smith, US Craft Master, Rheem, Rinnai, Kenmore Limited, Whirlpool, Reliance Water Heaters, Lochinvar, State Water Heaters, American Water Heaters, Noritz, Ferroli, Racold, and V-guard.
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