The global commercial water heaters market is estimated to occupy a sizeable amount of revenue by growing at a CAGR of ~5% during the forecast period, i.e., 2022 – 2030, owing to the growing investments for expanding commercial sectors globally, and supportive regulations and grants for using renewable energy resources. Apart from these, escalating requirement for heated water in several facilities globally are also expected to drive market growth in the near future.
Research Nester published a report titled “Commercial Water Heaters Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global commercial water heaters market in terms of market segmentation by type, capacity, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by type, capacity and application. Based on type, the electric segment is anticipated to grab the largest market share during the forecast period on the back of high operational efficiency of these heaters. Additionally, by capacity, the 250-400 liters segment is projected to hold the largest share over the forecast period attributing to the compactness and ease of installation of these heaters.
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Geographically, the global commercial water heaters market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab a significant share in the market during the forecast period attributing to the increasing consumer awareness associated with the benefits of the product in the region. Moreover, the market in Asia Pacific is assessed to grow by a noteworthy rate in the future owing to the rapid economic growth in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Investments for Expansion of Commercial Sectors Worldwide to Drive Market Growth
Commercial sector consists of facilities such as sewage treatment plants, institutional living quarters, and community and public places. Commercial sector plays an important role in the economic growth of a country and contributes significantly to the GDP share. This is a major reason as investments to expand the sector are high, which in turn is projected to boost market growth in the future.
However, high cost of installing commercial water heaters is expected to operate as key restraint to the growth of the global commercial water heaters market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global commercial water heaters market which includes company profiling of A.O. Smith Corporation, Venus Home Appliances (P) Ltd., Siemens AG., HTP Inc., Ariston Thermo SPA, Bajaj Electricals Ltd., Rheem Manufacturing Co., Haier Electronics Group Co., Ltd., Noritz Corp., Rinnai Corp., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global commercial water heaters market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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