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India Gas Geyser Market
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India Gas Geyser Market

Home Consumer Goods And Retail India Gas Geyser Market

India Gas Geyser Market - By Product (Instant, Storage); By Capacity (<30 Litres, 30–100 Litres, 100–250 Litres, 250–400 Litres, >400 Litres); By Application (Residential, Commercial); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: January 2023
  • Report ID: BWC23053
  • Available Format: PDF
  • Page: 113

Report Overview

An increasing number of household units using geysers, rapid urbanization, and rising demand for energy-efficient water heaters are expected to propel the growth of India gas geyser market during the forecast period between 2023 and 2029.

India Gas Geyser Market - Industry Trends & Forecast Report, 2029

India gas geyser market size is projected to grow at a CAGR of 6.4% during the forecast period between 2023 and 2029. The growth of India gas geyser market is attributed to the increasing disposable income of Indian consumers and increasing product launches and rising penetration of different brands in the market. According to Volza’s Global Import Export Data of Gas Geyser, India is the leading importer of gas geysers with 440 shipments. The increasing integration of advanced technologies such as IoT, sensors, 4G/5G, and Wi-Fi Connectivity, are expected to offer lucrative growth opportunities to the India gas geyser market during the forecast period.

India Gas Geyser Market – Overview

Crompton, a leading Indian electrical equipment company, defines, “Gas geysers make use of Liquid Petroleum Gas (LPG) for heating water.” These geysers may quickly heat water and offer a steady supply of hot water. However, they are less effective than electric geysers and recover more slowly. Due to the isolation of the tank, which allows heat to be retained for a long period, it is one of the most energy-efficient geysers available. When necessary, a gas burner automatically activates to make sure the water is kept in storage at a particular temperature that is controllable by a thermostat.

India Gas Geyser Market

Growth Drivers

Availability of Wide Range of Products

India is a huge market for water heating equipment, due to which the gas geyser brands are launching a wide range of products in this market. Products, such as Bajaj Majesty Duetto Gas Water Heater, V-Guard Safeflo Plus Gas Geyser, Racold 6L ODS ECO+ LPG Gas Water Heater, Orient Electric Vento Neo 5-Liter Gas Water Heater, and Surya PNG Instant Water Heater, are few of the most popular gas geysers available in India. The availability of various products and companies allows prices to remain competitive in a price-sensitive Indian market.

Restraints

Health Concerns Surrounding Gas Geysers

Gas geysers have an advantage over electric geysers, as they do not require electricity to function. However, when used improperly, they may be quite dangerous and even lethal. Those who spend a lot of time in the restroom may become CO2 poisoned by this equipment. Several instances of death are emerging across the country caused by gas leaked by the gas geysers. For instance, in Delhi, a 13-year-old girl passed away after breathing carbon monoxide that leaked from the bathroom geyser in February 2022, as reported by NDTV. It may act as a significant restraining factor for the growth of India gas geyser market.

Impact of COVID-19 on India Gas Geyser Market

India gas geyser market was negatively impacted by the unprecedented COVID-19 outbreak in the country. The nationwide lockdown imposed during the initial outbreak halted the manufacturing and production operations of the gas geysers in the country. Gas geysers were also placed under ‘non-essential’ goods. All these factors directly impacted the demand and supply of gas geysers, incurring huge losses to the market. However, as production activities resume in the post-pandemic period, the India gas geyser market is projected to get back on its pace.

India Gas Geyser Market

Segmental Coverage

India Gas Geyser Market – By Product

Based on product, India gas geyser market is segregated into instant and storage segments. The instant water heater segment held a higher market share in 2022 and is projected to register a higher growth rate during the forecast period. These product types are highly popular among the residential segment, as they provide hot water in real-time without any wastage of the already heater water which may be left unused. Instant gas geysers are also gaining traction, because of their compact size and help in enhancing the esthetics of the bathroom.

India Gas Geyser Market – By Capacity

Based on capacity, India gas geyser market is segmented into <30 liters, 30–100 liters, 100–250 liters, 250–400 liters, and >400 liters. The 30–100 liter capacity of gas geyser segment accounts for the highest market share. This capacity range has strong demand in commercial spaces such as hotels, public washrooms, and swimming pools, driving its market growth. The <30 liters capacity segment also covers a substantial share of the market, as they are available at a low price as well as expanding demand from the residential sector.

India Gas Geyser Market – By Application

Based on application, the India gas geyser market is segmented into residential and commercial. The residential application accounts for a higher market share owing to increasing disposable income and the rising number of residential spaces in India. Irregular electricity supply issues, especially in the smaller cities and towns, are also fueling the demand for gas geysers in the residential segment. However, the commercial segment is projected to register growth at a higher during the forecast period.

India Gas Geyser Market – By Region

The India gas geyser market geographically covers the following major regions: North India, South India, East India, and West India. North India dominates the India gas geyser market because of the cold climatic conditions of this region. December, January, and February are the coldest months of the year in North India. It is also a time when consumers face huge electricity shortages due to an overload of heating equipment. As a result, the demand for gas geysers is high in this region as they can heat water without electricity. Following North, East India also covers a substantial market share owing to similar climate conditions.

Competitive Landscape

Major players operating in India gas geyser market include Havells India Limited, Bajaj Electricals, Hindware, Orient Electric, V-Guard, A.O. Smith, Crompton Greaves Consumer Electricals Limited, Venus Home Appliances (P) Ltd., Ken Lifestyles Private Limited, and other prominent players. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period– 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

North India, South India, East India, and West India

Product/ Service Segmentation

By Product, By Capacity, By Application, By Region

Key Players

Havells India Limited, Bajaj Electricals, Hindware, Orient Electric, V-Guard, A.O. Smith, Crompton Greaves Consumer Electricals Limited, Venus Home Appliances (P) Ltd., Ken Lifestyles Private Limited.

 

By Product

  • Instant

  • Storage

By Capacity

  • <30 Liters

  • 30–100 Liters

  • 100–250 Liters

  • 250–400 Liters

  • >400 Liters

By Application

  • Residential

  • Commercial

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Gas Geyser Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increase in Number of Household Units
        2. Growing Rate of Urbanization
        3. Rising Demand for Energy Efficient Water Heaters
      2. Restraints
        1. High Installation Cost
        2. Availability of Counterparts
      3. Opportunities
        1. Development of Smart Gas Geyser by Manufacturers
        2. Increase in Demand for Gas Water Heater
      4. Challenges
        1. Growing Dominance of Local Manufacturers
        2. Increasing Raw Material Price and Manufacturing Cost
    1. Technology Advancements/Recent Developments
    2. Regulatory Framework
    3. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  2. India Gas Geyser Market Overview
    1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
        1. Instant
        2. Storage
      2. By Capacity
        1. <30 Liters
        2. 30–100 Liters
        3. 100–250 Liters
        4. 250–400 Liters
        5. >400 Liters
      3. By Application
        1. Residential
        2. Commercial
      4. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  3. North India Gas Geyser Market
    1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Capacity
      3. By Application
  4. South India Gas Geyser Market
    1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Capacity
      3. By Application
  5. East India Gas Geyser Market
    1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Capacity
      3. By Application
  6. West India Gas Geyser Market
    1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Capacity
      3. By Application
  7. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Gas Geyser Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, and others)
  8. Impact of Covid-19 on India Gas Geyser Market
  9. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Havells India Limited
    2. Bajaj Electricals
    3. Hindware
    4. Orient Electric
    5. V–Guard
    6. A.O. Smith
    7. Crompton Greaves Consumer Electricals Limited
    8. Venus Home Appliances (P) Ltd.
    9. Ken Lifestyles Private Limited
    10. Other prominent players
  10. Key Strategic Recommendations
  11. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figure

Figure 1   India Gas Geyser Market Segmentation

Figure 2   India Gas Geyser Market Value Chain Analysis

Figure 3   Company Market Share Analysis, 2022

Figure 4   India Gas Geyser Market Size, By Value (USD Million),2019−2029

Figure 5   India Gas Geyser Market Share, By Product, By Value,2019−2029

Figure 6   India Gas Geyser Market Share, By Capacity, By Value,2019−2029

Figure 7   India Gas Geyser Market Share, By Application, By Value,2019−2029

Figure 8   India Gas Geyser Market Share, By Region, By Value,2019−2029

Figure 9   North India Gas Geyser Market Size, By Value (USD Million),2019−2029

Figure 10 North India Gas Geyser Market Share, By Product, By Value,2019−2029

Figure 11 North India Gas Geyser Market Share, By Capacity, By Value,2019−2029

Figure 12 North India Gas Geyser Market Share, By Application, By Value,2019−2029

Figure 13 South India Gas Geyser Market Size, By Value (USD Million),2019−2029

Figure 14 South India Gas Geyser Market Share, By Product, By Value,2019−2029

Figure 15 South India Gas Geyser Market Share, By Capacity, By Value,2019−2029

Figure 16 South India Gas Geyser Market Share, By Application, By Value,2019−2029

Figure 17 East India Gas Geyser Market Size, By Value (USD Million),2019−2029

Figure 18 East India Gas Geyser Market Share, By Product, By Value,2019−2029

Figure 19 East India Gas Geyser Market Share, By Capacity, By Value,2019−2029

Figure 20 East India Gas Geyser Market Share, By Application, By Value,2019−2029

Figure 21 West India Gas Geyser Market Size, By Value (USD Million),2019−2029

Figure 22 West India Gas Geyser Market Share, By Product, By Value,2019−2029

Figure 23 West India Gas Geyser Market Share, By Capacity, By Value,2019−2029

Figure 24 West India Gas Geyser Market Share, By Application, By Value,2019−2029

 

List of Tables

Table 1       India Gas Geyser Market Size, By Product, By Value,2019−2029

Table 2       India Gas Geyser Market Size, By Capacity, By Value,2019−2029

Table 3       India Gas Geyser Market Size, By Application, By Value,2019−2029

Table 4       India Gas Geyser Market Size, By Region, By Value,2019−2029

Table 5       North India Gas Geyser Market Size, By Product, By Value,2019−2029

Table 6       North India Gas Geyser Market Size, By Capacity, By Value,2019−2029

Table 7       North India Gas Geyser Market Size, By Application, By Value,2019−2029

Table 8       South India Gas Geyser Market Size, By Product, By Value,2019−2029

Table 9       South India Gas Geyser Market Size, By Capacity, By Value,2019−2029

Table 10     South India Gas Geyser Market Size, By Application, By Value,2019−2029

Table 11     East India Gas Geyser Market Size, By Product, By Value,2019−2029

Table 12     East India Gas Geyser Market Size, By Capacity, By Value,2019−2029

Table 13     East India Gas Geyser Market Size, By Application, By Value,2019−2029

Table 14     West India Gas Geyser Market Size, By Product, By Value,2019−2029

Table 15     West India Gas Geyser Market Size, By Capacity, By Value,2019−2029

Table 16     West India Gas Geyser Market Size, By Application, By Value,2019−2029

Table 17     Havells India Limited Company Overview

Table 18     Havells India Limited Financial Overview

Table 19     Bajaj Electricals Company Overview

Table 20     Bajaj Electricals Financial Overview

Table 21     Hindware Company Overview

Table 22     Hindware Financial Overview

Table 23     Orient Electric Company Overview

Table 24     Orient Electric Financial Overview

Table 25     V–Guard Company Overview

Table 26     V–Guard Financial Overview

Table 27     A.O. Smith Company Overview

Table 28     A.O. Smith Financial Overview

Table 29     Crompton Greaves Consumer Electricals Limited Company Overview

Table 30     Crompton Greaves Consumer Electricals Limited Financial Overview

Table 31     Venus Home Appliances (P) Ltd. Company Overview

Table 32     Venus Home Appliances (P) Ltd. Financial Overview

Table 33     Ken Lifestyles Private Limited Company Overview

Table 34     Ken Lifestyles Private Limited Financial Overview

 

 

Market Segmentation

By Product

  • Instant

  • Storage

By Capacity

  • <30 Liters

  • 30–100 Liters

  • 100–250 Liters

  • 250–400 Liters

  • >400 Liters

By Application

  • Residential

  • Commercial

By Region

  • North India

  • South India

  • East India

  • West India

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Frequently Asked Questions (FAQs):

Ans: India Gas Geyser Market is expected to grow at a CAGR of 6.4% during the forecast period between 2023 and 2029.
Ans: The instant segment held a higher market share in India Gas Geyser Market by product.
Ans: Major factors driving the growth of India Gas Geyser Market include increase in number of household units and growing rate of urbanization along with rising demand for energy efficient water heaters.
Ans: North India is expected to grow at the fastest rate in India Gas Geyser Market during the forecast period.
Ans: Key players in India Gas Geyser Market include Havells India Limited, Bajaj Electricals, Hindware, Orient Electric, V-Guard, A.O. Smith, Crompton Greaves Consumer Electricals Limited, Venus Home Appliances (P) Ltd., and Ken Lifestyles Private Limited.