U.S. Commercial Water Heater Market size worth over $1.2bn by 2030

U.S. Commercial Water Heater Market size is set to surpass USD 1.2 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The market growth is attributed to the rising inclination toward the expansion of green building infrastructures in line with continuous development in enhanced energy systems. Growing requirement for space heating systems coupled with the ongoing replacement of the conventional units with modern technologies will foster the industry dynamics. In addition, stringent norms and policies pertaining to the adoption of highly efficient electrical appliances across colleges/universities, offices, and others will stimulate the industry expansion.
 

The COVID – 19 outbreak has impacted the U.S. commercial water heater market due to the rising number of infected cases in line with reduced number of workforce management. However, recommencement of the commercial activities and the restart of industrial operations coupled with increasing investments in private and public sectors will positively impact the business outlook.
 

Rising usage of modern technologies with the requirement for cost-effective heating sources

The U.S. commercial water heater market for storage segment is estimated to rise owing to an increasing demand for energy saving across building infrastructures in line with growing consumer inclination toward hot water storage systems. Easy installation, fuel flexibility, low-cost, and minimum flow rate requirements are some of the features, which will complement the product demand. Additionally, ongoing technological advancements including smart control technology and remote-control features will augment the business potential.
 

Browse key industry insights spread across 1700 pages with 3658 market data tables & 35 figures & charts from the report, “U.S. Commercial Water Heater Market Size, By Product (Instant, Storage), By Capacity (<30 Liters, 30 - 100 Liters, 100 - 250 Liters, 250 - 400 Liters, >400 Liters), By Energy Source (Electric, Gas {Natural Gas, LPG}) By Application (College/University, Office, Government/Military, Others), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share, and Forecast, 2022 - 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/us-commercial-water-heater-market
 

Growing demand for on-demand heating across commercial establishments along with rising shift toward the adoption of renewable resources

The 30 - 100 liters commercial water heaters will witness substantial growth on account of the increasing acceptance of accurate and quick hot water supply in line with surging demand across the hospitality sector. The continuous development in advanced product customization coupled with ongoing product innovations to fulfill the market demand will expand the business landscape. Moreover, favorable investments in private & public sectors for the development of green infrastructures will positively influence the industry scenario.
 

Rising usage of reliable units with the growing development of smart solutions

Electric commercial water heater market is predicted to observe a growth rate of over 9% by 2030. Rising requirement for highly efficient and low-emission heating units with continuous advancements in technology will accelerate the industry outlook. Ongoing introduction of smart and engineered solution products will boost the industry potential. In addition, a paradigm shift toward low-energy consumption and safe operational products will drive the business trend.
 

Increasing focus to reduce carbon footprints coupled with the timely availability of water supply across commercial establishments with advanced product expansion

U.S. commercial water heater market share from government/military establishments will rise owing to stringent norms to curb greenhouse gas emissions. Growing measures for the installation of flexible units in line with the ongoing replacement of traditional systems will propel the industry demand. Furthermore, the shifting focus of major players to fulfill the energy standards along with easy installation across multiple applications will increase the product adoption.
 

Growing disposable incomes in line with robust commercial expansion with extensive growth for on-demand heatings

South Atlantic market is anticipated to showcase substantial gains during the forecast period. This growth is credited to the rising consumer spending on smart appliances along with rising government investments to enhance infrastructure development. For instance, in May 2022, GE Appliances opened a water heater manufacturing plant in South Carolina. The USD 70 million plant is the first to dedicate its advanced air & water solution channel to professional contractors and is a part of the company’s center of excellence for water heaters. Furthermore, ongoing economic transformations pertaining to enhanced electricity distribution across rural & remote areas will positively sway the product demand across the region.
 

Continuous product innovations with growing investments in research & development activities by leading players

Major participants across the U.S. commercial water heater market include Armstrong International, Inc., RECO USA, Sioux Corporation, Westinghouse Electric Corporation, Stiebel Eltron Inc., Watts, Havells India Ltd., Viessmann, Hubbell Heaters, State Industries, Whirlpool Corporation, Rheem Manufacturing Company, Rinnai America Corporation, GE Appliances, Bradford White Corporation, Robert Bosch LLC, Ariston Holding N.V, and A.O. Smith. Several initiatives for business expansion including joint ventures & mergers in line with continuous technological advancements will escalate the industry growth.