The global commercial water heater market will grow at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2021 to 2030.
A commercial water heater is a device that uses gas or electricity to heat the water. A water heater uses energy derived from various external sources and transmits it to raise the temperature of the water.
Growing industrialization is boosting the need for commercial water heaters. The commercial heaters are used in hotels, commercial complexes, shopping malls, restaurants, motels, holiday homes, and community and public places.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=BWCC628
Moreover, advancements in commercial water heaters are expected to boost revenue generation during the forecast period. Companies are working on integrating automation and remote operations into commercial water heaters. The recent innovation from the commercial water heaters sector introduced the heaters equipped with LCD, and warning indicators, etc. Moreover, companies such as A.O. Smith are working on adding innovations in the commercial water heaters to ensure easy maintenance.
The integration of artificial intelligence into commercial water heaters would enable the device to understand patterns of usage. Moreover, it will also eliminate the manual need to switch off and on the device. Such advancements are expected to prompt the growth of the global commercial water heater market.
Commercial water heaters are used 24×7. The device requires timely repair and maintenance. Also, caretakers have to put on extra efforts to perform the tasks, such as disconnecting gas/oil supply pipes, exhaust pipes, and heat exchangers. Thus, the time-consuming efforts for repairing water heaters can decline the growth of the market.
The global commercial water heater market is expected to grow because of the rising disposable income of the population, accompanied by the improving lifestyle activities in urban areas. Rapid urbanization and development of global regions, extending constructional activities, and a rising number of residential and commercial buildings would ultimately affect positively on the market growth.
Regional Analysis
The Asia Pacific holds the maximum share in the global commercial water heater market. The growing adoption of water heaters in the commercial sectors in the region is expected to prompt market growth. Moreover, the presence of leading players like Rinnai Corporation, A.O. Smith Corporation, RHEEM Manufacturing, and Ariston Thermo in China, India, and Malaysia would contribute to the growth of the global market. Furthermore, the growing investment in the commercial sector in the region would prompt the growth of the global commercial water heater market.
COVID-19 Impact
The global water heater market witnessed a tremendous decline during the COVID-19 pandemic. The strict lockdowns and travel restrictions halted the commercial activities around the globe, which ultimately obstructed the use of commercial water heaters. Moreover, the disruption in the supply chain was another reason for the halt in the growth of the global commercial water heater market.
Commercial Water Heater Key Market Segments:
Based on the Type:
- Electric
- Oil
- Gas
- Solar
- Hybrid
- Heat Pump
- Others (Bio-fuel & Solid Fuel-fired commercial water heaters)
Based on the Rated Capacity:
- Up to 10kW
- 10‒50kW
- 50‒150kW
- 150‒300kW
- Above 300kW
Based on the Liter:
- Below 500 Liters
- 500‒1,000 Liters
- 1,000‒3,000 Liters
- 3,000‒4,000 Liters
- Above 4,000 Liters
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
Competitors in the market
- A.O. Smith Corporation (US)
- RHEEM Manufacturing Company (US)
- Rinnai Corporation (Japan)
- Solahart Industries (Australia)
- Carrier Global (US)
- Stiebel Eltron (Germany)
- Viessmann Group (Germany)
- NIBE Energy Systems (Sweden)
- Danfoss (Denmark)
- Valliant Group (Germany)
- American Water Heaters (US)
- Daikin (Japan)
- Mitsubishi Electric (Japan)
- Andrewes Water Heaters (Baxi Heating) (UK)
- Other prominent players
Table of Content
Chapter 1: Global Commercial Water Heater Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Commercial Water Heater market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Commercial Water Heater Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Commercial Water Heater market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Commercial Water Heater market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Commercial Water Heater market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Commercial Water Heater market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Commercial Water Heater business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
About Report Ocean:
Report Ocean is a renowned provider of market research reports, offering high-quality insights to clients in various industries. Their goal is to assist clients in achieving their top line and bottom line objectives, thereby enhancing their market share in today’s competitive environment. As a trusted source for innovative market research reports, Report Ocean serves as a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.