North America Residential Gas Storage Water Heater Market Demand, Trends and Outlook 2034
North America Residential Gas Storage Water Heater Market Size- By Capacity, By Fuel, By Power, By Air Mix Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Sep-2025 | Report ID: MACH2522 | Pages: 1 - 221 | Formats*: |
| Category : Equipment and Machinery | |||
North America Residential Gas Storage Water Heater Market Introduction and Overview
According to SPER Market Research, the North America Residential Gas Storage Water Heater Market is estimated to reach USD 14.18 billion by 2034 with a CAGR of 6.45%.
The report includes an in-depth analysis of the North America Residential Gas Storage Water Heater Market, including market size and trends, product mix, Applications, and supplier analysis. The North America Residential Gas Storage Water Heater Market was valued at USD 7.59 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 6.45% between 2025 and 2034. A water heater heats water for domestic, commercial, and industrial use, typically using a tank for storage. Growing demand for energy-efficient gas storage water heaters, driven by stricter regulations and consumer preferences, is boosting market growth. Innovations in insulation, burner design, and heat recovery systems enhance efficiency and reduce operating costs. Consumers are drawn to their reliability, durability, lower upfront costs, and ease of installation. Additionally, smart technologies like Wi-Fi, mobile apps, and digital controls offer remote monitoring, energy tracking, and scheduling, increasing convenience. These trends, combined with the shift toward high-efficiency and condensing models, are transforming the industry landscape.
By Capacity Insights:
The 31–40 gallon gas storage water heater segment is expected to witness substantial growth due to improvements in insulation, burner technology, and reduced standby heat loss, leading to greater efficiency. Continued development of compact, space-saving designs suited for tight areas like closets or small apartments is driving product adoption. Additionally, a growing number of homeowners are integrating these heaters with renewable energy sources such as solar thermal systems, helping to lower energy costs and carbon footprints, thereby further enhancing market expansion.
By Fuel Insights:
Residential natural gas water heaters are expected to experience steady growth due to their high energy efficiency and faster recovery times. Often more cost-effective than electric models, they appeal to consumers aiming to reduce long-term energy expenses. Available in various sizes and capacities, they cater to diverse hot water needs. Moreover, the widespread availability of natural gas infrastructure simplifies installation, requiring minimal modifications. This convenience, combined with performance and cost benefits, continues to support the increasing adoption of gas water heaters.
Regional Insights
The U.S. residential storage water heater market is projected to see strong growth driven by reduced energy costs, lower utility bills, and the reliability and durability of modern units. Manufacturers are offering a wide range of high-efficiency gas storage water heaters that meet or exceed ENERGY STAR standards. The well-established natural gas infrastructure supports widespread adoption, making installation and operation easy for homeowners and businesses. Additionally, gas storage water heaters provide hot water even during power outages, making them a dependable option in regions vulnerable to severe weather or electrical disruptions.
Market Competitive Landscape
The North America Residential Gas Storage Water Heater Market is moderately fragmented. Some key players are- American Water Heater, A.O. Smith, Ariston Thermo USA LLC, Bosch Thermotechnology Corp., Bradford White Corporation, GE Appliances, Guangdong Vanward New Electric CO., LTD, Hubbell Heaters, Lennox International Inc., Lochinvar, Noritz Corporation, Parker Boiler Company, Rheem Manufacturing Company, Rinnai America Corporation.
Recent Developments:
- In February 2024, Ariston Holding N.V. expanded into the U.S. builder segment by strengthening its business development team. With support from industry leaders, Ariston USA aims to introduce its plumbing and water heater products, boosting its market presence and advancing the electrification transition.
- In May 2022, GE Appliances opened a $70 million advanced water heater manufacturing facility in South Carolina. The vertically integrated plant uses robotics and cutting-edge technology to produce high-quality water heaters from raw steel, strengthening the company's position in the U.S. market.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Capacity, By Fuel, By Power, By Air Mix Type |
| Regions covered | Canada, Mexico, United States |
| Companies Covered | A.O. Smith, Ariston Thermo USA LLC, , Bradford White Corporation, GE Appliances, Guangdong Vanward New Electric CO., LTD, Hubbell Heaters, Lennox International Inc., Lochinvar, Noritz Corporation, Parker Boiler Company, Rheem Manufacturing Company, Rinnai America Corporation. |
Key Topics Covered in the Report
- North America Residential Gas Storage Water Heater Market Size (FY’2021-FY’2034)
- Overview of North America Residential Gas Storage Water Heater Market
- Segmentation of North America Residential Gas Storage Water Heater Market By Capacity (20 Gallon, 20 - 30 Gallon, 31 - 40 Gallon, 41 - 50 Gallon, > 50 Gallon)
- Segmentation of North America Residential Gas Storage Water Heater Market By Fuel (Natural Gas, LPG)
- Segmentation of North America Residential Gas Storage Water Heater Market By Power (Powered, Non-Powered)
- Segmentation of North America Residential Gas Storage Water Heater Market By Air Mix Type (Atmospheric, Power direct vent, Direct Vent, Power Damper, Induced Draft)
- Statistical Snap of North America Residential Gas Storage Water Heater Market
- Expansion Analysis of North America Residential Gas Storage Water Heater Market
- Problems and Obstacles in North America Residential Gas Storage Water Heater Market
- Competitive Landscape in the North America Residential Gas Storage Water Heater Market
- Details on Current Investment in North America Residential Gas Storage Water Heater Market
- Competitive Analysis of North America Residential Gas Storage Water Heater Market
- Prominent Players in the North America Residential Gas Storage Water Heater Market
- SWOT Analysis of North America Residential Gas Storage Water Heater Market
- North America Residential Gas Storage Water Heater Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. North America Residential Gas Storage Water Heater Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Residential Gas Storage Water Heater Market
7. North America Residential Gas Storage Water Heater Market, By Capacity (USD Million) 2021-2034
- 7.1. 20 Gallon
- 7.2. 20 - 30 Gallon
- 7.3. 31 - 40 Gallon
- 7.4. 41 - 50 Gallon
- 7.5. > 50 Gallon
8. North America Residential Gas Storage Water Heater Market, By Fuel (USD Million) 2021-2034
- 8.1. Natural Gas
- 8.2. LPG
9. North America Residential Gas Storage Water Heater Market, By Power (USD Million) 2021-2034
- 9.1. Powered
- 9.2. Non-Powered
10. North America Residential Gas Storage Water Heater Market, By Air Mix Type (USD Million) 2021-2034
- 10.1. Atmospheric
- 10.2. Power direct vent
- 10.3. Direct Vent
- 10.4. Power Damper
- 10.5. Induced Draft
11. North America Residential Gas Storage Water Heater Market, (USD Million) 2021-2034
- 11.1. North America Residential Gas Storage Water Heater Market Size and Market Share
12. North America Residential Gas Storage Water Heater Market, By Region, (USD Million) 2021-2034
- 12.1. Canada
- 12.2. Mexico
- 12.3. United States
13. Company Profile
- 13.1. American Water Heater
- 13.1.1. Company details
- 13.1.2. Financial outlook
- 13.1.3. Product summary
- 13.1.4. Recent developments
- 13.2. A.O. Smith
- 13.2.1. Company details
- 13.2.2. Financial outlook
- 13.2.3. Product summary
- 13.2.4. Recent developments
- 13.3. Ariston Thermo USA LLC
- 13.3.1. Company details
- 13.3.2. Financial outlook
- 13.3.3. Product summary
- 13.3.4. Recent developments
- 13.4. Bosch Thermotechnology Corp.
- 13.4.1. Company details
- 13.4.2. Financial outlook
- 13.4.3. Product summary
- 13.4.4. Recent developments
- 13.5. Bradford White Corporation
- 13.5.1. Company details
- 13.5.2. Financial outlook
- 13.5.3. Product summary
- 13.5.4. Recent developments
- 13.6. GE Appliances
- 13.6.1. Company details
- 13.6.2. Financial outlook
- 13.6.3. Product summary
- 13.6.4. Recent developments
- 13.7. Guangdong Vanward New Electric CO., LTD
- 13.7.1. Company details
- 13.7.2. Financial outlook
- 13.7.3. Product summary
- 13.7.4. Recent developments
- 13.8. Hubbell Heaters
- 13.8.1. Company details
- 13.8.2. Financial outlook
- 13.8.3. Product summary
- 13.8.4. Recent developments
- 13.9. Lennox International Inc.
- 13.9.1. Company details
- 13.9.2. Financial outlook
- 13.9.3. Product summary
- 13.9.4. Recent developments
- 13.10. Lochinvar
- 13.10.1. Company details
- 13.10.2. Financial outlook
- 13.10.3. Product summary
- 13.10.4. Recent developments
- 13.11. Noritz Corporation
- 13.11.1. Company details
- 13.11.2. Financial outlook
- 13.11.3. Product summary
- 13.11.4. Recent developments
- 13.12. Parker Boiler Company
- 13.12.1. Company details
- 13.12.2. Financial outlook
- 13.12.3. Product summary
- 13.12.4. Recent developments
- 13.13. Rheem Manufacturing Company
- 13.13.1. Company details
- 13.13.2. Financial outlook
- 13.13.3. Product summary
- 13.13.4. Recent developments
- 13.14. Rinnai America Corporation
- 13.14.1. Company details
- 13.14.2. Financial outlook
- 13.14.3. Product summary
- 13.14.4. Recent developments
- 13.15. Others
14. Conclusion
15. List of Abbreviations
16. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Residential Gas Storage Water Heater Market is projected to reach USD 14.18 billion by 2034, growing at a CAGR of 6.45% during the forecast period.
North America Residential Gas Storage Water Heater Market grew in Market size from 2025. The Market is expected to reach USD 14.18 billion by 2034, at a CAGR of 6.45% during the forecast period.
North America Residential Gas Storage Water Heater Market CAGR of 6.45% during the forecast period.
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North America Residential Gas Storage Water Heater Market size is USD 14.18 billion from 2025 to 2034.
North America Residential Gas Storage Water Heater Market is covered By Capacity, By Fuel, By Power, By Air Mix Type
U.S. is anticipated to have the highest Market share in the North America Residential Gas Storage Water Heater Market.
A.O. Smith, Ariston Thermo USA LLC, , Bradford White Corporation, GE Appliances, Guangdong Vanward New Electric CO., LTD, Hubbell Heaters, Lennox International Inc., Lochinvar, Noritz Corporation, Parker Boiler Company, Rheem Manufacturing Company, Rinnai America Corporation.
The report includes an in-depth analysis of the North America Residential Gas Storage Water Heater Market, including market size and trends, product mix, Applications, and supplier analysis
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