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Industrial Water Heater Market Size
Industrial Water Heater Market size was valued at USD 738.5 million in 2023 and is estimated to grow at a CAGR of 7.2% between 2024 and 2032. Increasing demand for hot water across the industries including food processing and chemical along with rising adoption of eco-friendly solutions will drive the business growth. For instance, the EU's industrial production increased by over 8% in 2023 when compared with the last year.
An industrial water heater is a specialized device designed to heat large volumes of water for various industrial applications. These units are built to handle the high demands and rigorous operating conditions typical of industrial environments. These systems are vital for maintaining the efficiency and productivity of industrial operations, ensuring a reliable and consistent supply of hot water tailored to the specific needs. These water heaters allow water to come in direct contact with the heat source, leading to efficient heating.
How big is the industrial water heater market?
The market size of industrial water heater reached USD 738.5 million in 2023 and is set to witness 7.2% CAGR from 2024 to 2032, due to the increasing demand for hot water across food processing and chemical sectors along with rising adoption of eco-friendly solutions.
Why is the demand for > 200 - ? 500 industrial water heater rising?
The > 200 - ? 500 gallons capacity segment in the industrial water heater industry is projected to account for more than USD 600 million by 2032, as they are designed to meet the high-volume hot water requirements of large-scale operations.
Why is the demand for industrial water heaters high in food processing applications?
The food processing application segment in the industrial water heater market is poised to depict over 7% CAGR between 2024 and 2032, owing to the implementation of stringent hygiene and safety standards in the food sector.
What factors are driving the industrial water heater industry growth in Asia Pacific?
Asia Pacific market is projected to record more than USD 600 million by 2032, led by the stricter implementation of regulations for energy conservations and emission reductions.