Commercial Water Heaters Market: Current Analysis and Forecast (2021-2027)

Commercial Water Heaters Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Power
  • 194 pages

Report Description

Electric geysers have gained significant popularity for home use. In several manufacturing sectors, water heaters fitted with solar and geothermal technologies are integrated. Immersion-type heaters, instant heaters, storage heaters, gas heaters, solar heaters, and solar and pump heaters are some of the common water heaters, etc. With initiatives from the governments of various countries towards promoting energy conservation, vendors are offering energy-efficient water heaters for commercial spaces. Furthermore, end-users in the commercial and residential sectors are seeking methods to save expense on energy costs. Increasing tourism across the world is also inducing the hospitality sector, including hospitals, hotels, and airports, to build a resource-efficient business model. As a result, the hospitality industry has become a significant end-user of water heaters that help in saving costs.

The growth of Commercial Water Heaters Market expanded significantly over recent years, underpinned by flourishing Global Commercial Sector, increasing Demand for Energy-Efficient Water Heaters, and ongoing initiatives by Governments to Promote Use of Renewable Energy-Based Water Heaters. However, some of the restraints in the market include High Capital Expenditure (CapEx) for Development of Commercial Water Heaters, operational losses in commercial water heaters which are some factors impeding the growth of this market all over the world.

Based on type, the market is segmented into Electric, Oil, Gas, Solar/Hybrid, Heat Pump, and Others (Biofuel & Solid Fuel-fired commercial water heaters). The Electric segment grabbed XX% market share of the Global Commercial Water Heaters Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as Electric water heaters offer exceptionally high operational efficiency ranging from 95% to 98%.

Based on Rated capacity type, the market is segmented into Up to 10kW, 10?50kW, 50?150kW, 150?300kW, & Above 300kW. In 2020, the 10–50kW segment dominated the Commercial Water Heaters Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to the requirement of instant hot water in commercial sector.

Based on liter type, the market is classified into Below 500 Liters, 500?1,000 Liters, 1,000?3,000 Liters, 3,000?4,000 Liters, and Above 4,000 Liters. The Below 500 Liters segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 due to water heaters falling under this category are compact and hence, are easy to install.

For a better understanding of the market adoption of Commercial Water Heaters, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of increase in the use of renewable energy and energy efficient products.

Some of the major players operating in the market include A.O. Smith Corporation, Rheem Manufacturing Company, Rinnai Corporation, Solahart Industries, Bosch Industries etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

Global Commercial Water Heaters Market was valued at US$ xx billion in 2020 and is anticipated to reach US$ xx billion by 2027 displaying a CAGR of xx% over the forecast period (2021-2027). Commercial water heaters are advanced devices that use a source of energy to heat portable water for use in the commercial sectors such as institutional living quarters, hospitals, sewage treatment plants, hotels/restaurants, motels, shopping malls and many others.

They provide various benefits including un-interrupted and continuous water pressure, friendly user interface, and multi usage points along with others benefits. Increasing commercial infrastructure development across different countries is driving the demand for water heaters. Small and mid-sized companies along with other commercial establishments are using water heaters for their daily production activities. Meanwhile, in order to reduce energy consumption and operational efficiency, companies are adopting highly efficient water heaters. Due to the increasing use, upgrading commercial water heaters is necessary. For instance, as per Statista, the estimated value of the global commercial real estate market was approximately 32.6 trillion U.S. dollars, up from 30.3 trillion U.S. dollars in 2019.

Other factors driving the growth of the Commercial Water Heaters Market globally are growing number of stringent policies and supportive regulations and grants for using renewable sources of energy in different applications and the surging adoption of a diversified range of water heaters in the commercial as well as the industrial sector. 

A.O. Smith Corporation, Rheem Manufacturing Company, Rinnai Corporation, Solahart Industries, Bosch Industries etc. are some of the prominent players operating in the Global Commercial Water Heaters Market. Several M&As along with partnerships have been undertaken by these players to facilitate countries with more innovative Commercial Water Heaters applications.

Insights Presented in the Report

“Amongst type, Electric segment holds the major share.”

Based on type, the market is segmented into Electric, Oil, Gas, Solar/Hybrid, Heat Pump, and Others (Biofuel & Solid Fuel-fired commercial water heaters). The Electric segment grabbed XX% market share of the Global Commercial Water Heaters Market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 as Electric water heaters offer exceptionally high operational efficiency ranging from 95% to 98%. 

“Amongst rated capacity type, 10–50kW dominated the market in 2020.”

Based on Rated capacity type, the market is segmented into Up to 10kW, 10?50kW, 50?150kW, 150?300kW, & Above 300kW. In 2020, the 10–50kW segment dominated the Commercial Water Heaters Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to the requirement of instant hot water in commercial sector.

“Amongst Liter type, below 500 Liters segment dominated the market in 2020.”

Based on liter type, the market is classified into Below 500 Liters, 500?1,000 Liters, 1,000?3,000 Liters, 3,000?4,000 Liters, and Above 4,000 Liters. The Below 500 Liters segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 due to water heaters falling under this category are compact and hence, are easy to install.

“Asia Pacific represents as the largest market in the Global Commercial Water Heaters Market.”

For a better understanding of the market adoption of Commercial Water Heaters, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of increase in the use of renewable energy and energy efficient products.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional & country-level analysis of the industry

Customization Options:

The Global Commercial Water Heaters Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • A.O. Smith Corporation
  • Rheem Manufacturing Company
  • Rinnai Corporation
  • Solahart Industries
  •  Bosch Industries

Have query on this report?

Make an Enquiry

 Table of Content

1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Objective of the Study
1.3. Limitation
1.4. Stake Holders
1.5. Currency Used in Report
1.6. Scope of the Global Commercial Water Heaters Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Methodology for the Global Commercial Water Heaters Market
2.1.1. Main Objective of the Global Commercial Water Heaters Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL COMMERCIAL WATER HEATERS MARKET COVID-19

6 GLOBAL COMMERCIAL WATER HEATERS MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1.Electric
7.2.Oil
7.3.Gas
7.4.Solar/Hybrid
7.5.Heat Pump
7.6.Others (Biofuel & Solid Fuel-fired commercial water heaters)

8 MARKET INSIGHTS BY RATED CAPACITY
8.1.Up to 10kW
8.2.10?50kW
8.3.50?150kW
8.4.150?300kW
8.5.Above 300kW

9 MARKET INSIGHTS BY LITER
9.1. Below 500 Liters
9.2. 500?1,000 Liters
9.3. 1,000?3,000 Liters
9.4. 3,000?4,000 Liters
9.5. Above 4,000 Liters

10 MARKET INSIGHTS BY REGION
10.1. North America Commercial Water Heaters Market
10.1.1. United States
10.1.2. Canada
10.1.3. Rest of North America
10.2. Europe Commercial Water Heaters Market
10.2.1. Germany
10.2.2. France
10.2.3. United Kingdom
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia Pacific Commercial Water Heaters Market
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia
10.3.5. Rest of Asia Pacific
10.4. Rest of World Commercial Water Heaters Market

11 COMMERCIAL WATER HEATERS MARKET DYNAMICS
11.1. Market Drivers
11.2. Market Challenges
11.3. Impact Analysis

12 COMMERCIAL WATER HEATERS MARKET OPPORTUNITIES

13 COMMERCIAL WATER HEATERS MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1.Demand Side Analysis
15.2.Supply Side Analysis
15.2.1. Top Product Launches
15.2.2. Top Business Partnerships
15.2.3. Top Business Expansions, Investments and Divestitures
15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Porter’s Five Forces Analysis
17.1.1. Bargaining power of Supplier
17.1.2. Bargaining power of Buyer
17.1.3. Industry Rivalry
17.1.4. Availability of Substitute
17.1.5. Threat of new Entrants
17.2. Competitive Landscape
17.2.1. Company Shares, By Revenue

18 COMPANY PROFILED
18.1. A.O. Smith Corporation
18.2. Rheem Manufacturing Company
18.3. Rinnai Corporation
18.4. Solahart Industries
18.5. Bosch Industries
18.6. Midea Group
18.7. Stiebel Eltron
18.8. Danfoss A/S
18.9. Bradford White
18.10. Ariston Thermo Group

19 DISCLAIMER 

 

Success Stories

Our Clients