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Commercial Heat Pump Water Heater Market Size

Report ID: GMI11684
Published Date: Oct 2024
Report Format: PDF

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Commercial Heat Pump Water Heater Market Size

The global commercial heat pump water heater market size was estimated at USD 571.1 million in 2023 and is set to attain a growth rate of 13% from 2024 to 2032.

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Growing demand for efficient hot water solutions across commercial establishments, coupled with increasing focus toward reducing emissions from buildings is fueling substantial investments in sustainable technologies. Stringent environmental norms and standards along with favorable initiatives toward adoption of low emission and energy efficient technologies will complement the business landscape.

Commercial Heat Pump Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2023
Commercial Heat Pump Water Heater Market Size in 2023:	USD 571.1 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	13%
2032 Value Projection:	USD 1.6 Billion
Historical Data for:	2021 - 2023
No. of Pages:	95
Tables, Charts & Figures:	30
Segments covered:	Application, Operation, and Region
Growth Drivers:	Ongoing development of smart grid and refurbishment of existing electricity networks Rapid expansion initiatives towards sustainable power generation and increasing electricity demand
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of commercial heat pump water heater was estimated at USD 571.1 million in 2023 and is set to attain 13% CAGR from 2024 to 2032, owing to the growing demand for efficient hot water solutions.

The healthcare facilities segment in the commercial heat pump water heater market is likely to exceed USD 300 million by 2032, due to rising construction of new government buildings.

U.S. commercial heat pump water heater market is set to cross to cross over USD 220 million by 2032, backed by the introduction of advanced technologies to improve energy efficiency.

A.O. Smith, AIROSD, Ariston, Colmac, Daikin, Guangteng, Lochinvar, Lync, Mikee, Nyle, Rheem, Sprsun, State Industries, Vaughn, and Venus.