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Gas Water Heater Market 2019 | Top Players are Volvo CE, CNH Industrial N.V., Caterpillar, Inc., Komatsu Ltd., Hitachi Construction Machinery Co.

10-04-2019 05:19 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Gas Water Heater Market 2019 | Top Players are Volvo CE, CNH

Growing investments in research and development to reduce cost of power along with ongoing government initiatives toward development of sustainable energy technologies will foster the gas water heater market in China. Residential establishments to integrate the renewable energy technologies coupled with rapid commercialization will further stimulate the product penetration. The CSEPCR Strategy of China aims at addressing the environmental and economic challenges and energy security in the nation.
The from residential was valued over 25 million units in 2016. Rising demand for refitting of infrastructure and advancing real estate sector will fuel the business landscape. Rising infrastructure spending along with increasing residential establishments across the developing economies will further compliment the industry outlook. Increasing measures to decrease product standby losses and rapid technological advancement will favor the industry outlook.

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Gas water heater market in Germany is projected to expand over 1% by 2024.Growing awareness towards ecological balance along with favorable government initiatives will foster the product penetration. Growing adoption of advanced and innovative heating technologies along with frequent amendments in EU directives to regulate and include advancing cooling and heating technologies will embellish the industry landscape. Improved product life and growing concerns to reduce carbon footprint will further propel the product outlook.
Rising demand for low emission heating systems coupled with growing investments toward advanced and customized products will favor the gas water heater market share in the U.S. Ongoing upgradation and refurbishment of existing heating networks along with smart temperature control devices integration will embellish the product demand. Initial cost and net pay back period are some of the strong economic factors which will further drive the industry landscape. The GE in 2017 in collaboration with DOE introduced Geo Spring Hybrid Water Heater. The product is estimated to consume 62% less energy compared to the standard 50-gallon water heater.
Gas Water Heater Market, By Product
• Storage
o Residential
o Commercial
o Industrial
• Tankless
o Residential
o Commercial
o Industrial
Gas Water Heater Market, By Application
• Residential
• Commercial
o College/Universities
o Office
o Government/Military
o Others
• Industrial

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Gas Water Heater Market The demand for automated storage and material handling equipment in warehouses will drive the construction equipment market (machinery) growth. Furthermore, the rise in the number of tall buildings and skyscrapers across various regions will surge the demand for cranes over the forecast timespan.
For instance, in August 2017, Hapman, a material handling equipment manufacturer, announced an initiative with Dattus, an IIoT platform, to offer enhanced solutions to its customers. Industrial trucks that are sturdy enough to enable the smooth transfer of heavy materials will propel the construction equipment market (machinery) growth.
The high initial and maintenance costs of the machinery discouraging the adoption of the equipment for small-scale construction projects will hinder the construction equipment market growth. Construction projects with limited monetary resources are still preferring traditional manual construction techniques over modern machinery. Equipment incorporated with the latest technologies, such as GPS and IoT, is further increasing the overall equipment cost, thereby restricting the construction equipment market growth.

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Gas Water Heater Market major players operating in the construction equipment market include Volvo Construction Equipment - Volvo CE, CNH Industrial N.V., Caterpillar, Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., Kobelco Construction Machinery Co., Ltd., Terex Corporation, Liebherr, and Sany Group. The industry is characterized by new product launches and expansion of product portfolio to enhance its market presence. Competitive pressure in the industry is compelling the industry participants to invest in new technologies, which will favor the construction equipment market growth.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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