Commercial Water Heater Market size to exceed $7bn by 2026

Commercial Water Heater Market size is set to surpass USD 7 billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Introduction of government norms and mandates for efficient heating appliances along with ongoing investment by the government authorities toward smart city development will accelerate the commercial water heater industry size. Growing hot water requirements specifically across office buildings, malls and hotels combined with increasing adoption of modern & advanced technology will augment the industry landscape. For instance, the government of Canada introduced the ecoENERGY program, to provide incentives for the deployment of efficient heating systems across other commercial establishments.

 

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Shifting customer inclination toward sustainability & energy savings coupled with increasing carbon emissions is set to foster the commercial water heater market growth. Replacement of the existing systems owing to inefficient power consumption combined with high maintenance costs will positively strengthen the industry trends. Moreover, introduction of digital technologies allowing remote control and monitoring is set to complement the business landscape.
 

Browse key industry insights spread across 1100 pages with 2592 market data tables & 51 figures & charts from the report, “Commercial Water Heater Market Statistics 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 – 2026in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/commercial-water-heater-market
 

Rising requirement for on demand heating will augment the instant water heaters market outlook

Instant water heater segment is set to surpass USD 190 Million by 2026. Lower standby losses, compact designs, along with point of use application are the essential features augmenting the market trends. Substantial cost savings coupled with shifting consumer focus toward limiting their carbon footprint is set to encourage the product adoption. Increasing investments toward research and development activities comprising product innovation along with integration of smart technologies is set to fuel the business growth.
 

Strict mandates for energy efficient equipment will drive the natural gas commercial water heater market growth

Key characteristics comprising rapid recovery rate, low operation cost and mass flow in comparison to its available substitutes is set to influence the gas water heater industry demand. Natural gas is the most reliable & cheapest source of heating across all regions with abundant reserves including the U.S., Russia, Iran, among others. Increasing demand from resorts, hotels, and hospitals along with stringent regulations for the deployment of energy efficient heating units will encourage the product penetration.
 

Growing urban migration trends along with smart city development projects will influence Asia Pacific market statistics

APAC commercial water heater market share is set to grow owing to increasing government investment for the development and expansion of the existing building infrastructure. Growing number of smart city construction contracts for shopping complexes & airports will boost the product penetration in the country. Additionally, rising dispensable incomes, growing middle class income groups coupled with prominent improvement in the living standards will enhance the product demand.
 

With the outbreak of COVID-19, the industry players are making rigorous efforts to combat the effects of the pandemic. The eminent participants operating across the commercial water heater market include Rinnai Corporation, Linuo, Bradford White, A.O Smith, Bosch Thermotechnology, Rheem Manufacturing, State Industries, Ritter Saudi Ceramics, Jaquar, Hubbell, Vaillant Group, Ariston Thermo, Whirlpool, Ferroli, Kanch Water Heaters, Haier Electronics, and Viessmann Group.
 

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