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U.S. Commercial Water Heater Market Size

Report ID: GMI3115
Published Date: Jun 2022
Report Format: PDF

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U.S. Commercial Water Heater Market Size

U.S. Commercial Water Heater Market size exceeded USD 639.5 million in 2023 and is projected to expand at over CAGR of 9.2% from 2024 to 2032. High energy savings, increased efficiency, flexible integration across multiple building in line with continuous adoption of ecofriendly sources will boost the business demand. Additionally, ongoing deployment of efficient systems to offer secure heating services will positively augment the market statistics.

U.S. Commercial Water Heater Market Overview

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The COVID- 19 outbreak has slightly impacted the U.S. commercial water heater market owing to a continuous decline in manufacturing facilities coupled with a delay in various projects and limited product deployment. However, with the decreasing number of infected cases and the resumption of industry operations has set to recover the industry potential. Moreover, ongoing government norms and investments in the expansion of renewable devices will further accelerate the market demand.

U.S. Commercial Water Heater Market Report Attributes
Report Attribute	Details
Base Year:	2023
U.S. Commercial Water Heater Market Size in 2023:	USD 639.5 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	9.2%
2032 Value Projection:	USD 1.3 Billion
Historical Data for:	2019 - 2023
No. of Pages:	1,700
Tables, Charts & Figures:	3,693
Segments covered:	Product, Capacity, Energy Source, Application
Growth Drivers:	North America & Latin America Growing demand for energy efficient water heaters Replacement of conventional water heating technology
Pitfalls & Challenges:	High installation cost

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of U.S. commercial water heater exceeded USD 639.5 million in 2023 and is expected to expand at a rate of over 9.2% from 2024 to 2032 driven by the benefits of increased efficiency, high energy savings, and deployment of efficient systems.

U.S. instant commercial water heater industry value is expected to grow at a CAGR of 13% through 2030 considering the ongoing requirement for the refurbishment of traditional units with ongoing water heating systems.

The market in the U.S. North East region is projected to register appreciable growth owing to the rising inclination for the advancement of commercial facilities.

Prominent companies in the market comprise Robert Bosch LLC, A.O. Smith, Whirlpool Corporation, Rheem Manufacturing Company, Ariston Holding N.V., RECO USA, Hubbell Heaters, and others.