The fuel gas heater market is projected to grow from USD 1,954.80 million in 2024 to USD 3,124.00 million by 2034, reflecting a CAGR of 4.80% over the next decade.
Key players are actively expanding their operations in regions with promising or stable growth prospects, including countries like Canada, South Korea, and Australia.
Increasing sustainability concerns are driving the adoption of gases that have minimal environmental impact, such as propane and butane. Heaters designed to be compatible with these gases are anticipated to significantly contribute to market growth in the coming years.
Key Takeaways from the Fuel Gas Heater Market Report
- The global fuel gas heater market was valued at US$ 1,529 million in 2019. By 2023, the market attained a valuation of US$ 1,865.3 million, expanding at a CAGR of 4.30%.
- Natural gas is a widely used fuel type in fuel gas heaters. The segment is accounting for 45.20% of the total market share.
- Conventional heaters are a broadly used technology in the fuel gas heater market. This section contributes to about 30.30% of the global market.
- The Canada fuel gas heater market is projected to expand at a CAGR of 5.40% over the forecast period.
- In Europe, Spain is estimated to register a CAGR of 5.10% over the next ten years.
- In Asia Pacific, South Korea and Australia are expected to perform at a CAGR of 5.40% each.
Competitive Strategies Adopted by Key Players
Key players resort to default strategies like partnerships, collaborations, acquisitions, and mergers to raise their market position. Players are further advertising their products on their social media pages to boost awareness among their target audience. Apart from this, industry participants are offering services and support to their customers to build a loyal clientele.
In upcoming years, as demand for sustainably engineered solutions amps up, industry players are expected to adjust their strategies and supply chains. Further, the players are continually upgrading their product portfolio to offer the best of their services and products to customers.
Top 10 Key Players in the Fuel Gas Heater Industry
- Heatco
- Exotherm Corporation
- Sigma Thermal
- Cast Aluminum Solutions
- ELMESS Thermosystemtechnik GmbH & Co. KG
- Quiri Thermal Exchanges
Market Segmentation of Fuel Gas Heater Products
By Type of Fuel:
- Natural Gas Heaters
- Propane Heaters
- Butane Heaters
By Application:
- Residential
- Commercial
- Industrial
By Technology:
- Convection Heaters
- Radiant Heaters
- Forced Air Heaters
By Distribution Channel:
- Online Retail
- Offline Retail
- Direct Sales
Different Regional Markets are as Follows:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Report Preview: https://www.futuremarketinsights.com/reports/fuel-gas-heater-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
