Commercial Water Heaters - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Commercial Water Heaters Market is accounted for $5.02 billion in 2019 and is expected to reach $8.96 billion by 2027 growing at a CAGR of 7.5% during the forecast period. Flourishing global commercial sector, increasing demand for energy-efficient water heaters, and integration of commercial water heaters with new-age technologies are the major factors propelling the market growth. However, factors such as high capital expenditure (CapEx) for development and operational losses in commercial water heaters are hampering the market growth.
The process of transferring heat by making use of a source of energy that is devised to heat water beyond the normal temperature is known water heating. Water heater is one of the traditional devices like cauldrons, kettles and others that are used for water heating domestically. Water heaters provide an uninterrupted supply of hot water. Fossil fuels, nuclear power, renewable powers, solar power and other alternative sources of energy are directly or indirectly used to ensure the functioning of water heaters. Commercial water heaters are used on continuously throughout the day and night and hence deserve special attention and maintenance on a regular basis.
Based on liter, the below 500 liters segment is going to have a lucrative growth during the forecast period owing to its compact and easy installation properties. They provide ample hot water for almost all small commercial applications. Hence, water heaters with this capacity are suitable for low hot water requirement applications in small commercial establishments. Small individual commercial water heaters of below 500 liters capacity are used in the hospitality sector for holiday homes and motels as they ensure interruption-free availability of hot water for bathing, personal laundry, etc. applications.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increase in use of renewable energy and energy efficient products. Several leading players in the commercial water heaters market such as Rinnai Corporation, A.O. Smith Corporation, RHEEM Manufacturing, and Ariston Thermo have their manufacturing facilities in countries such as China, India, and Malaysia. The region is home to a number of emerging economies such as China, India, Singapore, and Malaysia. These economies are witnessing increased investments in their commercial sectors.
Some of the key players profiled in the Commercial Water Heaters Market include A.O. Smith Corporation, American Standard Water Heaters, Ariston Thermo, Carrier Global, Ferroli, Haier Electronics, Hubbell, Linuo Ritter International, Midea Group, Noritz Corporation, RHEEM Manufacturing Company, Rinnai Corporation, Saudi Ceramics, Solahart Industries, Stiebel Eltron, Thermann, Thermex Corporation, Vaillant Group, Westinghouse Electric Corporation, and Whirlpool.
• Heat Pump
• Other Types
Rated Capacities Covered:
• Above 300kW
• Below 500 Liters
• 500‒1,000 Liters
• 1,000‒3,000 Liters
• 3,000‒4,000 Liters
• Above 4,000 Liters
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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