Selbyville, Delaware, Nov. 30, 2020 (GLOBE NEWSWIRE) --

The commercial water heater market revenue is anticipated to cross USD 7 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Growing consumer spending on smart and energy efficient appliances, increasing urbanization & industrialization along with strict norms to curb the carbon emissions is projected to strengthen the product adoption.

Strict building efficiency standards and codes along with growing investment in green building projects will affect the commercial water heater industry size. Enhanced customer awareness toward benefits of smart water heating systems coupled with growing mandates toward installation of modern & advance equipment primarily in commercial and educational institutes to limit the power consumption is set to influence the product penetration. In addition, growing urban migration, rising middle class income groups combined with increasing requirement to reduce the electricity bills is set to propel the need for commercial water heaters.

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Storage water heaters market is anticipated to grow on account of key parameters comprising low maintenance & installation charges, simple operating system, and high-water holding capacity. Shifting customer focus toward modern and advanced products equipped with characteristics including uncompromised water pressure, friendly user interface, and multi usage points is set to drive the product penetration. Surging growth across the tourism sector along with growing investments toward research, design & development activities is anticipated to further influence the product demand.

Some major findings of the commercial water heater market report include:

  • Growing hot water requirement across shopping complexes, hospitals, hotels among others will influence the product penetration.
  • Rapid expansion of the building infrastructure coupled with ongoing smart city and green buildings development is anticipated to boost the business landscape.
  • The key players operating in the commercial water heater industry comprise of Ariston Thermo, A.O Smith, Jaguar, Linuo Ritter, and Viessman Manufacturing Group, among others.
  • The industries are involved in strategic growth ventures consisting of mergers & acquisitions along with joint ventures with various technology providers that aim at business expansion to suit customer requirements.

Browse key industry insights spread across 1100 pages with 2592 market data tables & 51 figures & charts from the report, “Commercial Water Heater Market Outlook By Product (Instant [Electric, Gas], Storage [Electric {<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters}, Gas {<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters}]), By Capacity (<30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, >400 Liters), Application (College/University, Offices, Government/Military), Energy Source (Electric, Gas [Natural gas, LPG]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

250-400 liters based commercial water heater market size will grow on account of rising demand for heating units in various commercial establishments comprising government offices and shopping complexes, among others. Increasing requirement of effective management and smart control systems specifically across malls and airports will further strengthen the industry landscape.

The U.S. commercial water heater market is projected to register more than 4% CAGR through 2026. Considerable growth in the service sector along with the existing extreme climatic conditions in the country will favor the industry landscape. Refurbishment of the existing water heating systems with energy efficient designs will fuel the product demand. Furthermore, increasing concerns of carbon emissions along with rising demand for clean fuel will positively enhance the business outlook.

The outbreak of COVID-19 pandemic has largely impacted various component manufacturing and construction industries. The global manufacturers continue to bear supply shortages on account of restrictions and lockdowns along with labor shortages. Modern product development, introduction of new technologies, along with various business expansion activities by the key players are some of the key initiatives undertaken to encourage the product adoption.

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Browse Related Report:

Gas Water Heater Market Analysis By Product (Instant ,Storage), Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), Application (Residential, Commercial [College/University, Office, Government/Military]), Fuel (Natural Gas, LPG), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 - 2026

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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