Commercial Water Heater Market size, Key Figures Reviewed in Latest Research Report Forecast 2028

Increasing demand for efficient source of water heating such as solar & heat pump and the rising consumption of hot water in healthcare, hotels and restaurant is driving the global commercial water heater market.

According to TechSci Research report, “Commercial Water Heater Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” Global Commercial Water Heater Market is driven by increasing construction, increasing temperature in some countries and rising demand for solar water heaters as well as heat pump water heaters.

An important aspect that affects the demand for business heaters is the variety of commercial heaters availability, each of which differs from each other in terms of power capability, fuel type used, and storage capacity. Owing to the aggregative energy crisis, a number of important players are concentrating on creating efficient heater technologies and employing renewable energy sources to regulate energy usage and lessen the severity of this issue.

In tank systems, heated water is kept in an insulated container. They are frequently run-on electricity or natural gas for fuel. Traditional tank water heaters have the benefit of being simple to install as their main benefit. The majority of tank storage systems heat with natural gas, which is less expensive than electricity. Their upkeep is easier and less expensive because they are less sophisticated and have fewer parts. The typical tank's frequent requirement to reheat the water is one of its biggest problems. In cold conditions it may raise the temperature of water regardless of a person’s needs. They take a long time to heat water and take up a lot of room.

When properly cared for and maintained, a typical commercial water heater should last 20 years or longer. The electronics on the majority of newer hot water systems won't likely last that long, but the rest of the equipment is made to generate a lot of hot water for a long time without having many issues.

The system will probably just require a repair if it is less than 20 years old. If the system is any older, it would be best to replace it totally, although that entirely depends on the type of repair.

Electric water heaters operate with an incredibly high level of efficiency. They are mostly employed in Asia Pacific since nations such as China, India, South Korea, and Japan are concerned with lessening the carbon footprint caused by the usage of fossil fuels. The demand for electric water heaters is expected to expand over the course of the projection period as a result of increasing electrification rates and greater user accessibility. Strict government rules to minimize greenhouse gas emissions along with a growing focus on limiting energy use are likely to have a favorable effect on demand for solar water heaters because of the quick depletion of non-renewable resources.

The product's availability in multiple capacities meets a variety of customer needs, including its use in saunas, kitchens, bathrooms, and swimming pools, which in turn is driving market growth. A wide range of commercial settings, including healthcare, banks, hotels, and government and educational institutions, can use the water heater with high levels of usability. Significantly, the 301-500 liter capacity category is expected to witness considerable expansion over the projected period because of the strong industry rules linked to the replacement of conventional heaters with these water heaters. This upgrade should reduce standby heat loss and offer a reasonably priced heating system for major commercial applications.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Commercial Water Heater Market"

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The global commercial water heater market is segmented based on type, product type, storage capacity, application, sales channel, region, and competitional landscape. Based on type, the market is further fragmented into electric water heaters, gas water heaters, heat pump water heaters, solar water heaters, and others (oil water heaters, bio-fueled water heaters, etc.). Based on product type, the market is segmented into instant and storage. In terms of storage capacity, the market is divided into less than 50 liters, 51-100 liters, 101-300 liters, 301-500 liters, and more than 501 liters. Based on application, the market is divided into condominium, salon/parlor, hotels & resort, healthcare, education, others (colleges/universities, offices, etc.). On the basis of sales channel, the market is segmented into direct sales, dealers/agents, retailers, online, and others (plumbers, contractors, etc.).

The electric type dominated the global commercial water heater market in 2021 and is expected to keep increasing at the fastest rate over the course of the forecast period. During the forecast period, demand for commercial water heater market is anticipated to increase across a variety of applications, including hotels & resorts, healthcare, education. Furthermore, compared to gas items, which need expert maintenance on a regular basis, electric water heaters require little to no maintenance at all. When compared to their gas-powered counterparts, these factors are projected to increase the utility of electric water heaters. 

Key market players in the global commercial water heater market include:

• A.O. Smith Corporation,
• Bosch Industries,
• Daikin Industries Ltd.,
• Ingersoll Rand Inc.,
• Midea Group,
• Mitsubishi Electric Corporation,
• NIBE Energy Systems Limited,
• Rheem Manufacturing Company,
• Valliant Group,
• Viessmann Group

Commercial sector services, which contribute significantly to the global GDP of both developed and developing economies, include institutional living quarters, healthcare facilities, and hotels. Similar to this, the European Union has established a development schedule for new hospitals and basic healthcare institutions in the area. These facilities constantly need warm water for a variety of tasks, such as cleaning, bathing, and drinking.

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“The increase in the demand for commercial water heaters is being fueled by rising investments to establish and expand companies in the commercial sector across various geographies. Additionally, supportive legislation and grants for the use of renewable energy sources in various applications would play a crucial role in the expansion of this market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Commercial Water Heater Market, By Type (Electric Water Heaters, Gas Water Heaters, Heat Pump Water Heater, Solar Water Heaters, and Others (Oil Water Heaters, Bio-Fueled Water Heaters, etc.)), By Product Type (Instant, Storage), By Storage Capacity (Less Than 50Liters, 51-100Liters, 101-300Liters, 301-500Liters, and More Than 501Liters), By Application (Condominium, Salon/Parlor, Hotels & Resort, Healthcare, Education, Others (Colleges/Universities, Offices, etc.)), By Sales Channel (Direct Sales, Dealers/Agents, Retailers, Online, and Others (Plumbers, Contractors, etc.)), By Region, Competition”, has evaluated the future growth potential of commercial water heater and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in commercial water heater globally.

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