North America Residential Gas Storage Water Heater Market 6.2 CAGR Growth Outlook 2025-2033

North America Residential Gas Storage Water Heater Market by Capacity (< 20 Gallon, 20 - 30 Gallon, 31 - 40 Gallon, 41 - 50 Gallon, > 50 Gallon), by Fuel (Natural Gas, LPG), by Power (Powered, Non-Powered), by Air Mix Type (Atmospheric, Power direct vent, Direct Vent, Power Damper, Induced Draft), by North America (U.S., Canada) Forecast 2025-2033

North America Residential Gas Storage Water Heater Market 6.2 CAGR Growth Outlook 2025-2033

Key Insights

The size of the North America Residential Gas Storage Water Heater Market was valued at USD 7.13 Billion in 2024 and is projected to reach USD 10.86 Billion by 2033, with an expected CAGR of 6.2% during the forecast period.A key driver is the rising consumer demand for energy-efficient water heaters, driven by the fact that homeowners wish to reduce utility costs and reduce their environmental impact.
The government initiatives offered incentives and rebates to upgrade gas-powered appliance use, but this is part of the fuel mix. Now, there has been an enhanced awareness of lower carbon emissions offered by gas-operated water heaters in comparison with electric models; therefore, gas-powered water heater adoption is improving. Hybrid electric and gas heated water heaters now become a critical trend in that they offer improved energy savings when needed and, when needed instant hot water access.

North America Residential Gas Storage Water Heater Market Concentration & Characteristics

The North America residential gas storage water heater market is concentrated with a few major players accounting for a significant market share. These players include American Water Heater, A.O. Smith, and Bradford White Corporation. The market is characterized by innovation, with manufacturers constantly introducing new products with advanced features and technologies. Regulations related to energy efficiency and safety standards have a significant impact on the market, driving the adoption of more efficient and safer water heaters. Product substitutes, such as electric and tankless water heaters, exist but have not significantly impacted the market share of gas water heaters. The end-user concentration is high, with residential households being the primary consumers of gas storage water heaters. The level of M&A activity in the market is moderate, with occasional acquisitions and mergers between manufacturers to consolidate market share and expand product offerings.

North America Residential Gas Storage Water Heater Market Trends

The North America residential gas storage water heater market is witnessing several key trends, including the increasing adoption of hybrid water heaters, the growing popularity of smart water heaters, and the rising demand for energy-efficient appliances. Hybrid water heaters offer the benefits of both gas and electric water heaters, making them a preferred choice for consumers looking for energy savings without compromising on hot water availability. Smart water heaters allow users to remotely control and monitor their water heaters through Wi-Fi or Bluetooth connectivity, providing convenience and enhanced user experience. The government's focus on promoting energy efficiency is driving the demand for energy-efficient appliances, including gas storage water heaters with high energy factor (EF) ratings.

North America Residential Gas Storage Water Heater Market Growth

Key Region or Country & Segment to Dominate the Market

The United States is the dominant country in the North America residential gas storage water heater market, accounting for the majority of market share. The 50-gallon capacity segment is expected to continue to dominate the market, driven by its widespread use in residential households. The natural gas fuel segment is projected to maintain its dominance due to the availability and affordability of natural gas in North America.

North America Residential Gas Storage Water Heater Market Product Insights Report Coverage & Deliverables

The North America residential gas storage water heater market product insights report provides comprehensive coverage of the market, including market size, market share, growth, and key trends. The report also includes detailed analysis of product segments, end-user segments, and regional markets. Deliverables include market research reports, data presentations, and customized analysis based on client requirements.

North America Residential Gas Storage Water Heater Market Analysis

The North America residential gas storage water heater market is growing steadily, driven by the increasing demand for energy-efficient and environmentally friendly water heaters. The market is expected to continue to grow in the coming years, with the adoption of hybrid water heaters and the growing popularity of smart water heaters expected to contribute to the market expansion.

North America Residential Gas Storage Water Heater Market Regional Insights

North America:

U.S.
Canada

Driving Forces: What's Propelling the North America Residential Gas Storage Water Heater Market

Increasing demand for energy-efficient water heaters
Government initiatives promoting the adoption of gas appliances
Growing awareness of the environmental benefits of gas-powered water heaters
Rising popularity of hybrid water heaters
Increasing adoption of smart water heaters

Challenges and Restraints in North America Residential Gas Storage Water Heater Market

Competition from electric and tankless water heaters
Fluctuations in natural gas prices
Stringent safety regulations
Lack of awareness about energy efficiency and environmental benefits

Emerging Trends in North America Residential Gas Storage Water Heater Market

Adoption of hybrid water heaters
Growing popularity of smart water heaters
Rising demand for energy-efficient appliances
Focus on sustainability and energy conservation
Government initiatives promoting the adoption of gas appliances

North America Residential Gas Storage Water Heater Industry News

February 2024: Ariston Holding N.V. announced its entry into the U.S. builder segment by adding up its business development resources. Ariston USA, along with the support of experienced business leaders, plans to bring its plumbing and water heater products to its builder segment. This will significantly expand its presence and lead the electrification transition across the market.

May 2022: GE Appliances opened a water heating manufacturing facility worth USD 70 million in South Carolina with advanced technology. This vertically integrated plant was set to make products, beginning from steel coils into high-quality water heaters, for the U.S. homes with robotic material handling & processing, cutting-edge machines for metal fabrication & welding, and still enamelling. This expansion allowed the company to showcase its expertise in large-scale projects in the U.S., thereby maintaining a strong position across the industry.

Leading Players in the North America Residential Gas Storage Water Heater Market

North America Residential Gas Storage Water Heater Market Segmentation

1. Capacity
- 1.1. < 20 Gallon
- 1.2. 20 - 30 Gallon
- 1.3. 31 - 40 Gallon
- 1.4. 41 - 50 Gallon
- 1.5. > 50 Gallon
2. Fuel
- 2.1. Natural Gas
- 2.2. LPG
3. Power
- 3.1. Powered
- 3.2. Non-Powered
4. Air Mix Type
- 4.1. Atmospheric
- 4.2. Power direct vent
- 4.3. Direct Vent
- 4.4. Power Damper
- 4.5. Induced Draft

North America Residential Gas Storage Water Heater Market Segmentation By Geography

1. North America
- 1.1. U.S.
- 1.2. Canada

North America Residential Gas Storage Water Heater Market Regional Share

North America Residential Gas Storage Water Heater Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2019-2033
Base Year	2024
Estimated Year	2025
Forecast Period	2025-2033
Historical Period	2019-2024
Growth Rate	CAGR of 6.2% from 2019-2033
Segmentation	By Capacity < 20 Gallon 20 - 30 Gallon 31 - 40 Gallon 41 - 50 Gallon > 50 Gallon By Fuel Natural Gas LPG By Power Powered Non-Powered By Air Mix Type Atmospheric Power direct vent Direct Vent Power Damper Induced Draft By Geography North America U.S. Canada

Table Of Content

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1 Growing demand for energy efficient water heaters
    - 3.2.2 Expansion of natural gas pipeline network
- - 3.3. Market Restrains
  - - 3.3.1 High installation cost
    - 3.3.2 Availability of counterparts
- - 3.4. Market Trends
  - - 3.4.1 The North America residential gas storage water heater market is witnessing several key trends
    - 3.4.2 including the increasing adoption of hybrid water heaters
    - 3.4.3 the growing popularity of smart water heaters
    - 3.4.4 and the rising demand for energy-efficient appliances. Hybrid water heaters offer the benefits of both gas and electric water heaters
    - 3.4.5 making them a preferred choice for consumers looking for energy savings without compromising on hot water availability. Smart water heaters allow users to remotely control and monitor their water heaters through Wi-Fi or Bluetooth connectivity
    - 3.4.6 providing convenience and enhanced user experience. The government's focus on promoting energy efficiency is driving the demand for energy-efficient appliances
    - 3.4.7 including gas storage water heaters with high energy factor (EF) ratings.
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. North America Residential Gas Storage Water Heater Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Capacity
  - 5.1.1. < 20 Gallon
  - 5.1.2. 20 - 30 Gallon
  - 5.1.3. 31 - 40 Gallon
  - 5.1.4. 41 - 50 Gallon
  - 5.1.5. > 50 Gallon
- 5.2. Market Analysis, Insights and Forecast - by Fuel
  - 5.2.1. Natural Gas
  - 5.2.2. LPG
- 5.3. Market Analysis, Insights and Forecast - by Power
  - 5.3.1. Powered
  - 5.3.2. Non-Powered
- 5.4. Market Analysis, Insights and Forecast - by Air Mix Type
  - 5.4.1. Atmospheric
  - 5.4.2. Power direct vent
  - 5.4.3. Direct Vent
  - 5.4.4. Power Damper
  - 5.4.5. Induced Draft
- 5.5. Market Analysis, Insights and Forecast - by Region
  - 5.5.1. North America
6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- - 6.2. Company Profiles
  - - 6.2.1 American Water Heater
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 A.O. Smith
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 Ariston Thermo USA LLC
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 Bosch Thermotechnology Corp.
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 Bradford White Corporation
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 GE Appliances
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 Guangdong Vanward New Electric CO. LTD
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Hubbell Heaters
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 Lennox International Inc.
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 Lochinvar
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)
    - 6.2.11 Noritz Corporation
      6.2.11.1. Overview
      6.2.11.2. Products
      6.2.11.3. SWOT Analysis
      6.2.11.4. Recent Developments
      6.2.11.5. Financials (Based on Availability)
    - 6.2.12 Parker Boiler Company
      6.2.12.1. Overview
      6.2.12.2. Products
      6.2.12.3. SWOT Analysis
      6.2.12.4. Recent Developments
      6.2.12.5. Financials (Based on Availability)
    - 6.2.13 Rheem Manufacturing Company
      6.2.13.1. Overview
      6.2.13.2. Products
      6.2.13.3. SWOT Analysis
      6.2.13.4. Recent Developments
      6.2.13.5. Financials (Based on Availability)
    - 6.2.14 Rinnai America Corporation
      6.2.14.1. Overview
      6.2.14.2. Products
      6.2.14.3. SWOT Analysis
      6.2.14.4. Recent Developments
      6.2.14.5. Financials (Based on Availability)
    - 6.2.15 State Industries Inc.
      6.2.15.1. Overview
      6.2.15.2. Products
      6.2.15.3. SWOT Analysis
      6.2.15.4. Recent Developments
      6.2.15.5. Financials (Based on Availability)
    - 6.2.16 U.S. Craftmaster Water Heaters
      6.2.16.1. Overview
      6.2.16.2. Products
      6.2.16.3. SWOT Analysis
      6.2.16.4. Recent Developments
      6.2.16.5. Financials (Based on Availability)
    - 6.2.17 Westinghouse Electric Corporation
      6.2.17.1. Overview
      6.2.17.2. Products
      6.2.17.3. SWOT Analysis
      6.2.17.4. Recent Developments
      6.2.17.5. Financials (Based on Availability)

List of Figures

Figure 1: North America Residential Gas Storage Water Heater Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
Figure 2: North America Residential Gas Storage Water Heater Market Share (%) by Company 2024

List of Tables

Table 1: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Region 2019 & 2032
Table 2: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Region 2019 & 2032
Table 3: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Capacity 2019 & 2032
Table 4: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Capacity 2019 & 2032
Table 5: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Fuel 2019 & 2032
Table 6: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Fuel 2019 & 2032
Table 7: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Power 2019 & 2032
Table 8: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Power 2019 & 2032
Table 9: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Air Mix Type 2019 & 2032
Table 10: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Air Mix Type 2019 & 2032
Table 11: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Region 2019 & 2032
Table 12: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Region 2019 & 2032
Table 13: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Capacity 2019 & 2032
Table 14: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Capacity 2019 & 2032
Table 15: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Fuel 2019 & 2032
Table 16: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Fuel 2019 & 2032
Table 17: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Power 2019 & 2032
Table 18: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Power 2019 & 2032
Table 19: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Air Mix Type 2019 & 2032
Table 20: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Air Mix Type 2019 & 2032
Table 21: North America Residential Gas Storage Water Heater Market Revenue Billion Forecast, by Country 2019 & 2032
Table 22: North America Residential Gas Storage Water Heater Market Volume units Forecast, by Country 2019 & 2032
Table 23: U.S. North America Residential Gas Storage Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 24: U.S. North America Residential Gas Storage Water Heater Market Volume (units) Forecast, by Application 2019 & 2032
Table 25: Canada North America Residential Gas Storage Water Heater Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 26: Canada North America Residential Gas Storage Water Heater Market Volume (units) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

Frequently Asked Questions

Get a Free Sample

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

Pricing

Looking for a Custom Report?

We offer personalized report customization at no extra cost, including the option to purchase individual sections or country-specific reports. Plus, we provide special discounts for startups and universities. Get in touch with us today!

Tailored for you

In-depth Analysis Tailored to Specified Regions or Segments
Company Profiles Customized to User Preferences
Comprehensive Insights Focused on Specific Segments or Regions
Customized Evaluation of Competitive Landscape to Meet Your Needs
Tailored Customization to Address Other Specific Requirements

Director of Business Development

Sarah L

The insights provided in this report were spot-on and exactly what we needed to guide our strategic planning. The level of detail on industry trends and forecasts is unmatched. It saved us countless hours and gave us a significant advantage!"

North America Residential Gas Storage Water Heater Market 6.2 CAGR Growth Outlook 2025-2033