Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Residential Gas Storage Water Heater Market size was estimated at USD 14.8 billion in 2024 and is expected to surpass USD 20 billion by the end of 2037, rising at a CAGR of 2.4% during the forecast period, i.e., 2025-2037. In 2025, the industry size of residential gas storage water heaters is evaluated at USD 15.1 billion.
Demand for energy-efficient equipment, such as residential gas storage water heaters is rapidly increasing owing to increasing awareness about environmental sustainability and energy-saving. Customers are looking for methods to lessen their carbon footprint as they are becoming more aware of the effects of energy usage on the environment. Since gas storage water heaters heat water by burning natural gas or propane, they are more energy-efficient than conventional electric water heaters.
The residential gas storage water heater industry is significantly shaped by government incentives and regulations. To encourage the use of energy-efficient appliances, governments all over the world are enforcing strict construction rules and energy efficiency standards. The need for gas storage water heaters that meet or beyond these standards has grown as a result of these regulations.
