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Fossil Fuel Fired Water Heater Market

Fossil Fuel Fired Water Heater Market

Fossil Fuel Fired Water Heater Market Global Industry Assessment & Forecast

# Pages:

170

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0831

Segments Covered
  • By Product Natural Gas, Propane, Oil
  • By Application Residential, Commercial, Other Applications
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 6.5 Billion
Revenue 2028Revenue 2028: 8.4 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 3.25
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Fossil Fuel Fired Water Heater market was valued at USD 6.5 Billion in 2020 and is projected to reach USD 8.4 Billion by 2028, growing at a CAGR of 3.25% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 8.4 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 3.25%

Definition and Overview

Water heating is a heat transfer process that uses an energy source to heat water above its initial temperature. Typical domestic uses of hot water include cooking, cleaning, bathing, and space heating. In industry, hot water and water heated to steam have many uses.


The global Fossil Fuel Fired Water Heater market is segmented based on by Product, Application, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Fossil Fuel Fired Water Heater  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 6.5 Billion 8.4 Billion

Global Fossil Fuel Fired Water Heater Market: COVID-19 Impact Analysis

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Market Insights

Growing demand for energy production especially in the commercial sector is creating a positive scope and creating a huge demand for the market.

Focus on enhancing customer interaction is emerging as a strong factor for the market growth.

High initial cost can hamper the market growth.

Global Fossil Fuel Fired Water Heater Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered A.O. Smith Corporation, Crompton Greaves Ltd., Midea Group, Reliance Water Heater Company, Heat Transfer Products Inc., Rinnai, Rheem Manufacturing Company, Electrolux, Noritz Corporation, Rinnai, Bosch, Bradford White Corporation, Eccotemp Systems.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis

Market Segmentation

Product  Analysis: Preview

On the basis of Product, the market is segmented into Natural Gas, Propane, Oil,. Natural Gas  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Natural Gas in emerging economies in Asia Pacific region.

Application Analysis: Preview

Based on Application, the market is segmented into Residential, Commercial, Other Applications,. Industrial accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Fossil Fuel Fired Water Heater Market: Product Segment Analysis

    • Natural Gas
    • Propane
    • Oil

Global Fossil Fuel Fired Water Heater Market: Application Segment Analysis

    • Residential
    • Commercial
    • Other Applications

Regional Analysis Preview

On the basis of region, the global Fossil Fuel Fired Water Heater market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held the largest share of the global Fossil Fuel Fired Water Heater market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is one of the most profitable countries for companies operating in the market. 

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Fossil Fuel Fired Water Heater Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Fossil Fuel Fired Water Heater market are A.O. Smith Corporation, Crompton Greaves Ltd., Midea Group, Reliance Water Heater Company, Heat Transfer Products Inc., Rinnai, Rheem Manufacturing Company, Electrolux, Noritz Corporation, Rinnai, Bosch, Bradford White Corporation, Eccotemp Systems.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

FAQ
Frequently Asked Question
  • The global Fossil Fuel Fired Water Heater valued at 6.5 Billion in 2020 and is expected to reach 8.4 Billion in 2028 growing at a CAGR of 3.25%.

  • The prominent players in the market are A.O. Smith Corporation, Crompton Greaves Ltd., Midea Group, Reliance Water Heater Company, Heat Transfer Products Inc., Rinnai, Rheem Manufacturing Company, Electrolux, Noritz Corporation, Rinnai, Bosch, Bradford White Corporation, Eccotemp Systems..

  • The market is project to grow at a CAGR of 3.25% between 2021 and 2028.

  • The driving factors of the Fossil Fuel Fired Water Heater include

    • Growing demand for energy production especially in the commercial sector is creating a positive scope and creating a huge demand for the market.
    • Focus on enhancing customer interaction is emerging as a strong factor for the market growth.

  • Asia Pacific was the leading regional segment of the Fossil Fuel Fired Water Heater in 2020.