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Commercial Storage Water Heater Market Trends

Report ID: GMI9596
Published Date: May 2024
Report Format: PDF

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Commercial Storage Water Heater Market Trends

Commercial establishments are prioritizing water quality and safety in their water heating systems. Key features including anti-scald protection, corrosion resistance, and advanced filtration systems will ensure safe and reliable hot water supply. Additionally, different industries have unique hot water requirements, wherein storage water heaters are tailored to meet the specific needs of various sectors, including hospitality, healthcare, food service, and manufacturing, thereby driving the business scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of commercial storage water heater was reached USD 6.01 billion in 2023 and is anticipated to grow at 6.8% CAGR through 2032, driven by the increasing focus on energy efficiency and sustainability.

The electric segment in the commercial storage water heater market will exceed USD 4.6 billion by 2032, owing to increasing energy costs and environmental concerns coupled with features including remote monitoring.

Europe commercial storage water heater market will cross USD 2.8 billion by 2032, attributed to the introduction of financial incentives, rebates, or grants to encourage the adoption of energy-efficient storage water heaters in commercial establishments.

American Standard Water Heaters, A.O. Smith, Aquamax Australia, Bradford White Corporation, GE Appliances, Racold, Reece Ltd., Rheem Manufacturing Company, State Industries, Saudi Ceramic Company, and Westinghouse Electric Corporation.