
Fossil Fuel Fired Water Heater Market
Fossil Fuel Fired Water Heater Market Global Industry Assessment & Forecast
Segments Covered
By Product Natural Gas, Propane, Oil
By Application Residential, Commercial, Other Applications
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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6.5 Billion |
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8.4 Billion |
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3.25 |
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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.
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)
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
What is the global demand for Fossil Fuel Fired Water Heater in terms of revenue?
-
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%.
Which are the prominent players in the market?
-
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..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 3.25% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
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.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Fossil Fuel Fired Water Heater in 2020.