U.S. 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 Energy Source (Electric, Gas {Natural Gas, LPG}) By Application (College/University, Office, Government/Military, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jun 2020  |  Report ID: GMI3115  |  Authors: Ankit Gupta, Nikhil Paranjape

Report Format: PDF   |   Pages: 1050   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

U.S. Commercial Water Heater Market size exceeded USD 600 million in 2019 and its annual installation is anticipated to exceed 280 thousand units by 2026. Increasing investment to develop green building infrastructure will propel market demand of efficient water heaters. The storage water heaters hold majority of the market share in 2019.

U.S. Commercial Water Heater Market

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The commercial water heater operates by employing immersion heating elements, controlled by thermostats or microprocessors which regulate the temperature inside the tank. These products are generally of two types storage and tankless which are deployed to meet the hot water requirements for wide range of applications. Tankless or instant units tend to possess higher efficiency and lesser space requirement when compared to their storage counterparts.

The conventional storage heaters include vent pipes and a tank, fueled by either electricity or gas. The storage units heat up the water and stores it an insulated tank till the point it is utilized combined with elimination of exhausts from the vent. These units are deployed across the globe with the capability to maintain a continual hot water supply through accumulating water in a storage tank.

On the contrary, the instant water systems are generally steam space heating systems which provides hot water directly from the taps. Greater efficiency, low energy consumption, compact designs will enhance the product installations across commercial establishments.

However, since the beginning of 2020, the U.S. economy has taken a major hit by the COVID-19 pandemic. The large-scale lockdowns across the country resulted in closures of various business activities and infrastructural development projects, affecting the market growth.

In addition, the lack of availability of work force along with reduced installation of water heating solutions across commercial establishments is negatively affecting the U.S. commercial water heater market growth in 2020. Despite the economic slowdown, the market will be anticipated to recover from 2021, as the projects recommences after the lockdown.

The study features a detailed analysis of industry trends across the globe segmented on a regional & state basis across product, capacity, energy source and application. Moreover, the market forecasts & estimates are in line with the data represented by authorities including the International Energy Agency (IEA), Energy Information Administration (EIA), ASHRAE, government regulatory bodies, and company press releases.

U.S. Commercial Water Heater Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 609 Million (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6.8% 2026 Value Projection: 678 Million (USD)
Pages: 1050 Tables, Charts & Figures: 2479
Geographies covered (51): Illinois, Indiana, Michigan, Ohio, Wisconsin, Alabama, Kentucky, Mississippi, Tennessee, Arkansas, Louisiana, Oklahoma, Texas, Delaware, Florida, Maryland, North Carolina, South Carolina, Virginia, West Virginia, Washington D.C., Connecticut, Georgia, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New Jersey, New York, Pennsylvania, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, Alaska, California, Hawaii, Oregon, Washington, Arizona, Colorado, Utah, Nevada, New Mexico, Idaho, Montana, Wyoming
Segments covered: Product, Capacity, Energy Source, Application
Companies covered (20): A.O. Smith Corporation, Ariston Thermo, Bosch Thermotechnoloy, Bradford White Corporation, General Electric Appliances, Haier Electronics, Rheem Manufacturing Company, Whirlpool Corporation, Rinnai Corporation, State Water Heater, Viessmann Group, Hubbell Electric Heater Company, Havells India Limited, Watts Water Technologies, Stiebel Eltron GmbH & Co., Westinghouse Electric Corporation, American Standard Water Heaters, Sioux Corporation, RECO USA, Armstrong International, Inc.
Growth Drivers:
  • Growing demand for energy efficient heating systems
  • Replacement of existing water heaters
Pitfalls & Challenges:
  • High installation cost

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Easy installation coupled with flexible integration across multiple applications will stimulate the storage commercial water heaters industry outlook

U.S. Commercial Water Heater Market By Product

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Easy installation and simple designs are among the paramount features driving the market demand for storage heating systems. These systems have low initial installation cost and flexible integration across multiple applications which makes it a more preferred choice among consumers. In addition, high upfront cost along with additional maintenance & repair associated with instant heaters will augment the market demand of storage commercial water heaters.

Furthermore, the availability in multiple capacities suiting requirements of commercial applications along with the development of advanced technologies will stimulate the market statistics. The storage water heaters are expected to register a growth of over 6% over the forecast timeframe.

Rising demand for efficient water heating solutions across small commercial buildings and offices will augment the adoption of below 30-liter systems

U.S. Commercial Water Heater Market By Capacity

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Below 30 liters commercial water heaters are widely deployed across small commercial establishments owing to their limited space requirement along with adequate and quick hot water supply. Rising disposable income levels across the U.S. have led to significant improvement in the living standards resulting in adoption of comfortable and efficient heating technologies.

The higher operational suitability and compact size of these products are propelling the industry statistics across small businesses and retail outlets. In addition, ongoing investments toward the infrastructural development will further enhance the installation of commercial water heaters in the forthcoming years.

Significantly expanding gas supply network across U.S. will drive the adoption of natural gas-based commercial water heaters

Gas water heaters accounted for over 39% of market share in 2019. Growing adoption clean energy sources along with increasing accessibility to natural gas have proliferated the market demand of gas based commercial water heaters. These units are becoming a preferred choice among consumers owing to considerable reduction in heating bills along with cost savings in long run.

Ongoing investment toward the expansion of gas supply network will further promote the growth of U.S. commercial water heater industry. Furthermore, development of advanced heating units with significantly less NOx emissions and exhaust flues will drive the U.S. commercial water heater market trends.

Growing investments across educational institutes and universities infrastructure will stimulate the market outlook for commercial water heaters

Government investment toward development of educational institutes coupled with rapid expansion of building infrastructure have stimulated the growth of U.S. commercial water heater market. Advancement in technologies along with growing deployment of efficient and safe commercial water heater systems across educational building to provide economical and secure heating services will positively fuel the market statistics.

Instant heating technologies are witnessing significant industry penetration on account of point-of-use application and low power consumption. The government has introduced regulations and policies for adoption of energy efficient electrical appliances and heating systems across government hospitals, universities, offices and new building constructions, which will further propel the market outlook.

Increasing disposable incomes along with expanding commercial infrastructure across North East will complement the market demand

U.S. Commercial Water Heater Market By Region

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In 2019, North East region is expected to hold over 25% of market share and is anticipated to dominate the industry over the forecast timeframe. The robust development across healthcare and service sectors is the prime reason for extensive growth across the North East commercial water heater market. New York, New Jersey, and Pennsylvania are amongst the major commercial hubs across the country.

Extensive building infrastructure with the growing spending for construction activities has put thrust to product installations. The consumers are adopting advanced technology tankless systems to maintain continuous supply of hot water throughout the day, which will propel the industry statistics of U.S. commercial water heater market.

Product innovation and business acquisition strategy acting as the focal point of market players

The eminent market players are focusing on developing new products with advanced features to enhance their market share in the U.S. commercial water heater industry. In addition, mergers and acquisitions are among the key strategies followed by the leading market players to gain a competitive edge in the global industry.

In addition, leading market participants are focusing toward backward & forward integration by manufacturing commercial water heater components to achieve economies of scale and increase their U.S. commercial water heater industry share.

The prominent players profiled in the U.S. commercial water heater market report includes A.O Smith, Bosch Thermotechnology, Bradford White, Rinnai Corporation, State water heaters, Rheem Manufacturing, Haier Electronics, Ariston Thermo, Hubbell, Viessmann Group, and Whirlpool amongst other players.

U.S. 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 states:

  • East North Central
    • Illinois
    • Indiana
    • Michigan
    • Ohio
    • Wisconsin
  • West South Central
    • Arkansas
    • Louisiana
    • Oklahoma
    • Texas
  • South Atlantic
    • Delaware
    • Florida
    • Georgia
    • Maryland
    • North Carolina
    • South Carolina
    • Virginia
    • West Virginia
    • Washington D.C.
  • North East
    • Connecticut
    • Maine
    • Massachusetts
    • New Hampshire
    • Rhode Island
    • Vermont
    • New Jersey
    • New York
    • Pennsylvania
  • East South Central
    • Alabama
    • Kentucky
    • Mississippi
    • Tennessee
  • West North Central
    • Iowa
    • Kansas
    • Minnesota
    • Missouri
    • Nebraska
    • North Dakota
    • South Dakota
  • Pacific States
    • Alaska
    • California
    • Hawaii
    • Oregon
    • Washington
  • Mountain States
    • Arizona
    • Colorado
    • Utah
    • Nevada
    • New Mexico
    • Idaho
    • Montana
    • Wyoming

Frequently Asked Questions (FAQ) :

According to credible reports, US commercial water heater market would record a crcr of 6.8% over the anticipated time span.
US commercial water heater market is likely to surpass a mammoth of $678 million by the end of 2026.
U.S. industry for commercial water heater will achieve over 6.8% CAGR from 2020 to 2026.
Growing demand for energy efficient heating systems across U.S. along with replacement of traditional water heater systems with technologically advanced and efficient systems are the key growth drivers for United States commercial water heater industry.
A.O Smith, Bosch Thermotechnology, Bradford White, Rinnai Corporation, State water heaters, Rheem Manufacturing, Haier Electronics, Ariston Thermo, Hubbell, Viessmann Group, and Whirlpool are the key players in the U.S. market.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 1050
  • Tables: 2440
  • Charts / Figures: 39
  • Companies covered: 20
  • Countries covered: 51

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