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Commercial Water Heaters Market: Market Segments: By Type (Electric, Gas, Oil, Heat Pump, Solar, Hybrid & Others); By Liter (Below 500, 500-1,000, 1,000-3,000, 3,000-4,000 & More); By Rated Capacity (Up t- 10kW, 10-50kW, 50-150kW and more); and Region - Global Analysis by Market Size, Share & Trends for 2014 - 2020 and Forecasts t- 2030
Product Overview
Water heater is an electric device which is used for various purposes t- heat water. There are different kinds of water heaters that are used in households, storage heaters, and electric heaters, such as electric rods. Vital features that make water heaters available are energy efficiency and compact size. Electric geysers have gained significant popularity for home use.
Market Highlights
Commercial Water Heaters Market is expected t- project a notable CAGR of 5.7% in 2030.
Commercial Water Heaters Market t- surpass USD 8.7 billion by 2030 from USD 4.8 billion in 2019 at a CAGR of 5.7% throughout the forecast period, i.e., 2020-30. Increased demand for hot water, mainly from hospitals and hotels, is expected t- fuel market growth. In addition, increased use of the commodity is likely t- boost demand for water heaters in various manufacturing industries, such as the food and beverage processing and chemical industries.
Commercial Water Heaters Market: Segments
Solar water heaters segment t- grow with the highest CAGR of 4.1% during 2020-30
Commercial Water Heaters Market is segmented by type as Electric, Gas, Oil, Heat Pump, Solar, Hybrid & Others. Based on type electric segment is the largest segment of the market for commercial water heaters. Electric water heaters give extremely high efficiency in operations. In Asia Pacific, they are primarily used because countries such as China, India, South Korea and Japan are focused on reducing their carbon footprint as a result of the use of fossil fuels.
Commercial Water Heaters Market: Market Dynamics
Drivers
Flourishing Global Commercial Sector
Commercial sector consists of services such as institutional living quarters, medical facilities, hotels, restaurants, business complexes, shopping malls, and community and public places play an important role in the global GDP of the world's developed and emerging economies. Similarly, the European Union has laid down a roadmap for new hospitals and primary health facilities in the region t- be developed.
Restrain
High Capital Expenditure
There are a range of precautionary steps taken by main producers of these heaters t- ensure their proper functioning over the years. High-grade processes and materials are used by manufacturers of industrial water heaters, as well as requiring skilled labour and specialized equipment t- produce them, adding t- their rising production costs. Some manufacturers als- sell personalized goods with site-specific specifications for customers that increase the cost of producing water heaters.
Commercial Water Heaters Market: Key Players
Midea Group
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
A.O. Smith Corporation
Daikin
Rinnai Corporation
Danfoss
Mitsubishi Electric
Nibe Energy Systems
Johnson Controls-Hitachi Air Conditioning
Bosch Industries
Viessmann
Vaillant
Rheem Manufacturing Company
American Water Heaters
Bradford White
Ariston Therm- Group
Commercial Water Heaters Market: Regions
Commercial Water Heaters Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, APAC and MENA.
Commercial Water Heaters Market in Asia Pacific held the largest market share of XX.X% in the year 2019 and is anticipated t- continue its dominance over the forecast period. Economic growth across countries such as China and India are expected t- increase demand for water heaters over the forecast period, combined with the growing availability of gas and electricity across rural areas. The European market for water heaters is predicted t- see a 3.2% CAGR over the forecast period. This rise can be attributed t- the increasing demand from different commercial and industrial end-users for superior and efficient water heaters. Furthermore, due t- severe cold weather in the area, the need for hot water t- meet the necessary environmental conditions is likely t- fuel the demand for the commodity. In addition, the region's well-established industrial infrastructure is expected t- strengthen the demand for water heaters, thereby growing regional market growth.
Commercial Water Heaters Market report als- contains analysis on:
Commercial Water Heaters Market Segments:
By Type:
Electric
Oil
Gas
Solar
Hybrid
Heat Pump
Others
By Liter:
Below 500 Liters
500?1,000 Liters
1,000?3,000 Liters
3,000?4,000 Liters
Above 4,000 Liters
By Rated Capacity:
Up t- 10kW
10?50kW
50?150kW
150?300kW
Above 300kW
Commercial Water Heaters Market Dynamics
Commercial Water Heaters Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Commercial Water Heaters Market
Which segment is anticipated t- hold the largest market share?
At what CAGR is the market anticipated t- grow between 2020 and 2030?
Wh- are the key players in the Commercial Water Heaters Market?
What could be the challenging factors in the growth of Commercial Water Heaters Market?
What are the growth drivers for the Commercial Water Heaters Market?