Commercial Water Heater Market size to exceed $8bn by 2028

Commercial Water Heater Market size is anticipated to surpass USD 8 Billion by 2028, as reported in the latest study by Global Market Insights Inc.
 

Commercial Water Heater industry is projected to grow on account of ongoing expansion of green building projects in the developing economies along with stringent building efficiency codes & standards. Various government directives and mandates to install smart and energy efficient heating equipment to minimize the carbon footprint and reduce the electricity bills will positively influence the installation of commercial water heaters.
 

Outbreak of the novel corona virus, known as the COVID-19 has unfavorably impacted the global economy. Lockdown enforcement by various government authorities along with restrictions imposed at numerous manufacturing facilities across the economies including the U.S., Brazil, India, and Russia, among others will affect the business growth. Consequently, this has led to a substantial slowdown in the production of various component and heating equipment. The growing need for investments to support & combat the existing pandemic may further challenge the water heater installation.
 

Strict mandates for energy efficient equipment owing to growing emissions will fuel the government water heater industry expansion

Commercial water heater market from government/military is anticipated to grow owing to stringent norms and directives to adopt clean fuels and reduce the carbon footprint. Growing deployment of individual units along with increasing awareness toward smart equipment is anticipated to encourage the product adoption. The major policies regulating the industry include Minimum Energy Performance Standards (MEPS), Eco Design, Energy Efficiency Directive, and Energy Performance of Buildings, among others. Growing adoption of digital technologies coupled with greater need for instant water heating equipment will accelerate the business outlook.
 

Browse key industry insights spread across 1000 pages with 2124  market data tables & 48 figures & charts from the report, “Commercial Water Heater Market Statistics By Product (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, > 400 Liters}, Gas {< 30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, > 400 Liters), Application (College/University, Offices, Government/Military), Energy Source (Electric, Gas), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2028” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/commercial-water-heater-market
 

Simple design and ease of installation of electric water heaters will augment the market size

Electric-based commercial water heater market is projected to exceed USD 1.2 Billion by 2028. Extensive electricity distribution network along with rapid industrialization in emerging economies will drive the market share. Greater adoption of electric equipment in the economies owing to increasing connection points will complement the business landscape. Low standby losses coupled with stable prices in comparison to the volatile fuel cost is projected to enhance the product demand. Surging demand for alternate water heating solutions in comparison to traditional sources including wood, biofuel, and coal are the key factors set to boost electric water heater demand.
 

Growing urban migration, increasing disposable incomes coupled with smart city development projects will influence the Asia Pacific market size

Growing investments in the infrastructure development by both private & government organizations along with mounting demand for on demand heating across hotels, hospitals and government buildings is anticipated to drive the Asia Pacific commercial water heater market statistics. Ongoing government mandates toward adoption of energy efficient equipment for reduction in electricity bills coupled with favorable regulatory norms & policies to reduce the carbon footprint will strengthen the business landscape.
 

The commercial water heater market consists of key players including Rinnai Corporation, Saudi Ceramics, Hubbell Incorporated, Linuo Ritter, Jaquar, Ariston Thermo, VIESSMANN Manufacturing Company Inc, BDR Thermea, Vaillant Group, Whirlpool Corporation, Haier Electronics, and A.O Smith. Growing market competition, rising inorganic growth ventures combined with new product advancements along with introduction of innovative technologies are the key initiatives accelerating the market growth.