Commercial Water Heater Market Size By Product (Instant [Electric, Gas], Storage [Electric {<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters}, Gas {<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters}]), By Capacity (<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), By Application (College/University, Offices, Government/Military), By Energy Source (Electric, Gas [Natural gas, LPG]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
Published Date: Nov 2020 | Report ID: GMI2910 | Authors: Ankit Gupta, Srishti Agarwal
Industry Trends
Commercial Water Heater Market size crossed USD 6 billion in 2019 and the annual installation is projected to exceed 4 million units by 2026. Increasing spending in research, design & development to introduce smart and advance water heating equipment coupled with robust development of service sector will drive the commercial water heater industry share.
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Rapid awareness regarding the new technologies coupled with increasing demand for instant hot water across hospitals, care centers and offices will augment the industry landscape. Stringent policies aimed at deployment of energy efficient electrical systems across various commercial establishments including malls, hospitals among others combined with significant reduction in the heating bills is anticipated to positively augment the industry growth.
Ongoing government investment toward the development of smart cities coupled with introduction of energy efficiency codes and standards will drive the commercial water heater market outlook. Stringent mandates toward the installation of efficient heating systems across commercial and educational institutes along with significant reduction in heating bills will positively influence the industry trends.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Historical Data for: | 2015 to 2019 |
| Market Size in 2019: | 6.5 Billion (USD) | Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 5.9% | No. of Pages: | 1100 |
| 2026 Value Projection: | 4.9 Million Units | Tables, Charts & Figures: | 2643 |
| Geographies covered (7): | North America, Europe, Eurasia, CIS, Asia Pacific, Middle east & Africa, Latin America | ||
| Segments covered: | Product, Capacity, Application, Energy Source | ||
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Technical advancements have strengthened the commercial water heater industry share
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Ongoing expansion of a wide range of commercial establishments coupled with technical advancements toward the product design will augment the commercial water heater market trends. Rising requirement for instant heating across hotels, hospitals and government buildings is set to enhance the industry landscape. For instance, the CBRE survey, conducted in 2017, states that the MNCs have rapid expansion plans across India and China over the next three years.
Increasing investment aimed at the development of smart cities and green buildings coupled with energy efficiency codes and standards will drive the market statistics. Strict norms and mandates have shifted customer focus toward efficient heating systems primarily across commercial and educational institutes coupled with substantial reduction in heating bills will positively influence the industry size. For instance, the U.S. Department of energy in 2015, mandated the industry manufacturers to use new technologies for the development of energy efficient heaters which were rated based on thermal efficiency and standby losses.
Development of mass flow heaters coupled with advanced monitoring & control technologies will drive the commercial water heater market forecast. Significant reduction in component cost along with considerable energy savings will complement the business landscape. In addition, strict environment norms toward limiting CO2 emissions will further augment the business landscape.
Increasing requirement for on demand heating will augment the industry landscape
The instant commercial water heater market is anticipated to grow at over 5% CAGR between 2020 and 2026. Key factors including point of use application, compact designs and low energy consumption will influence the product adoption. Growing demand across hotels and government buildings owing to significant savings in heating bills along with lower standby losses will encourage the product adoption. In addition, integrated leakage detection system, Wi-Fi connectivity and advanced control & communication options will augment the business landscape.
Stringent government norms to shift to energy efficient systems will drive the demand for 100-250 liters heating units
Rising demand of hot water across shopping complexes along with government mandates toward the deployment of water heaters across commercial buildings will escalate adoption of 100-250 heating systems. Requirement of effective water management and control systems across shopping malls and airports will accelerate the commercial water heater industry size. Strict environment protection standards toward limiting the emissions from conventional heating systems along with active measures by industry players toward reducing their carbon footprint will further stimulate the product demand.
Surging deployment of gas units will influence the business landscape
Gas-based commercial water heater market exceeded USD 180 million in 2019. Higher efficiency and larger flow rates in comparison to its electrical substitutes is set to accelerate the product demand. Growing demand from off grid areas along with significant savings in electricity bills will positively influence the industry forecasts. Extensive distribution of electricity network along with simple designs will amplify the electric water heater market growth. The tankless models provide highly efficient point of use application with low power consumption. Lower standby losses and stable prices in comparison with volatile fuel cost will enhance the business outlook.
Greater requirement of hot water across colleges & universities will influence the product adoption
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Ongoing mandates by respective government toward the installation of water heater along with rising hot water consumption across colleges & universities will foster the commercial water heater market demand. Growing investment pertaining to the expansion and construction of educational institutes coupled with rising demand from off grid buildings will augment the industry landscape. Rapid adoption of digital technologies in the industry along with growing need for instant hot water delivery systems will encourage the product penetration. Government mandates toward the promotion of individual metering coupled with growing concerns toward energy efficiency will further strengthen the market statistics.
North America and Europe is projected to witness surge in commercial water heater market
Strict environment norms toward limiting carbon emissions coupled with stringent government regulations pertaining to the deployment of efficient electrical appliances will amplify the Europe market growth. Growing demand from commercial establishments along with abundant availability of gas in the region will fuel the industry statistics.
Extreme climatic conditions along with presence of major industry players competing on product differentiation will accelerate the growth across North America commercial water heater market. Integrated remote monitoring and automatic control systems enhances the product performance. Upgradation and replacement of existing systems with more efficient and compact designs will positively influence the business trends.
Competitive Market Share
Notable players across the global commercial water heater market include Bradford White, Ferroli, A.O Smith, Bosch Thermotechnology, State Industries, Rinnai Corporation, Rheem Manufacturing, Saudi Ceramics, Haier Electronics, Hubbell, Linuo Ritter, Ariston Thermo, Himin Solar, Jaquar, Kanch Water Heaters, Vaillant Group, Viessmann Group and Whirlpool. Product differentiation and technological development are key strategic measures adopted by the established players. Furthermore, mergers and acquisitions along with geographical expansion across the emerging economies provides better growth prospects for the business.
Commercial water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:
By Product
- Instant
- Electric
- Gas
- Storage
- Electric
- <30 liters
- 30-100 liters
- 100-250 liters
- 250-400 liters
- >400 liters
- Gas
- <30 liters
- 30-100 liters
- 100-250 liters
- 250-400 liters
- >400 liters
By Capacity
- <30 liters
- 30-100 liters
- 100-250 liters
- 250-400 liters
- >400 liters
By Application
- College/University
- Offices
- Government/Military
- Others
By Energy Source
- Electric
- Gas
- Natural Gas
- LPG
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Austria
- Netherland
- Denmark
- Finland
- Sweden
- Norway
- Eurasia
- Russia
- Belarus
- Armenia
- Kazakhstan
- Kyrgyzstan
- CIS
- Azerbaijan
- Moldova
- Tajikistan
- Turkmenistan
- Ukraine
- Uzbekistan
- Asia Pacific
- China
- Australia
- India
- Myanmar
- Japan
- South Korea
- Indonesia
- Malaysia
- Singapore
- Thailand
- New Zealand
- Philippines
- Vietnam
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- Kuwait
- Bahrain
- Oman
- Turkey
- South Africa
- Nigeria
- Algeria
- Egypt
- Israel
- Cyprus
- Lebanon
- Iraq
- Latin America
- Brazil
- Argentina
- Chile
- Mexico
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