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Commercial Water Heater Market Trends

Report ID: GMI2910
Published Date: May 2024
Report Format: PDF

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Commercial Water Heater Market Trends

Increasing adoption of energy-efficient models to reduce operational costs and comply with environmental regulations coupled with integration of smart controls and IoT for better management, efficiency, and predictive maintenance will stimulate the industry statistics. Growing interest in renewable energy sources and hybrid systems to minimize carbon footprints and promote sustainability will impact the business dynamics. Additionally, adherence to stricter energy efficiency standards and environmental regulations driving innovation and market demand for high efficiency units will boost the business scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of commercial water heater was reached USD 7.22 billion in 2023 and is anticipated to grow at 6.8% CAGR between 2024 and 2032, owing to rapid urbanization and strong need for advanced product customization.

The instant segment in the commercial water heater market will exceed USD 2.11 billion by 2032, as these water heaters can be installed close to the point of use, eliminating the need for long runs of piping, and reducing heat loss through distribution lines.

North America commercial water heater industry will exceed USD 1.8 million by 2032, attributed to the implementation of stringent energy efficiency standards.

American Standard Water Heaters, A.O Smith, AQUAMAX Australia Pty. Limited, Bosch Thermotechnology Corp., Bradford White Corporation, BDR Thermea Group, GE Appliances, Heatre Sadia, HTP, ORBITAL HORIZON, and Powrmatic Ltd among others.