Press release
Commercial Water Heaters Market size is expected to grow from USD 5724.0 million in 2021 to USD 9670.6 million by 2030
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COVID-19 Impact on the Global Commercial Water Heaters Market
The coronavirus pandemic has affected every industry. As a result of this pandemic, COVID has significantly impacted the manufacturing industry across the globe. Various factors have impacted the business the most. For instance, supply-chain interruptions caused by the shift to online labor resulted in considerable reductions in demand for commercial water in vacant office buildings, offices, restaurants, and other locations. Furthermore, due to travel limitations and lockdowns, the COVID-19 epidemic has caused a considerable shift in water use from large commercial to residential, reducing market players' income dramatically.
Scope of the Global Commercial Water Heaters Market
The study categorizes the commercial water heater market based on type, application, storage capacity, power rating, and regional and global levels.
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By Type (Revenue, USD Million, 2017-2030)
Electric
Gas
Oil
Heat Pump
Solar
Hybrid
Others
By Application (Revenue, USD Million, 2017-2030)
Healthcare
Restaurants
Institutes
Offices
Others
By Storage Capacity (Revenue, USD Million, 2017-2030)
Below 500 Liters
500?1,000 Liters
1,000?2,000 Liters
2,000?3,000 Liters
3,000?4,000 Liters
Above 4,000 Liters
By Power Rating (Revenue, USD Million, 2017-2030)
Up to 10kW
10?50kW
50?150kW
150?300kW
Above 300kW
By Region Outlook (Revenue, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
Slovenia
Slovakia
the Netherlands
Belgium
Norway
Denmark
Czech Republic
Sweden
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Vietnam
The Philippines
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
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The Electric Commercial Water Heaters segment is witnessed to account for the highest market share by type
In 2021, the electric commercial water heater accounted for the highest market share in the market. The electric commercial water heater has an equipment life that is longer than 20 years compared to other types of heaters as electric water heaters are less subject to corrosion. Many industries opt this electric based commercial water heaters due to its immediate supply of hot water and ease in operating this device, thereby contributing to the growth of the commercial water heater market worldwide.
Asia-pacific accounts for the highest CAGR during the forecast period
Globally, Asia-pacific is estimated to hold the highest CAGR in the global electric commercial water heater market during the forecast period. Asia-pacific is expected to hold the highest share due to the increase in the use of renewable energy and energy-efficient products. The other factor is that the booming tourism industry has contributed substantially to investment in the construction and development of commercial facilities, such as hotels, hospitals, and resorts, which thereby increase the demand for commercial water heaters.
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Key Market Players in the Global Commercial Water Heaters Market
GE Healthcare
A.O. Smith
Rinnai Corporation
Rheem Manufacturing
Ariston Thermo spA
Racold
Midea Group
Nibe Corporation
Nortiz Corporation
Hubbell
Valliant
Danfoss
Bradford White Corporation
Flexiheat UK Ltd
Eric Martin
416, East standsberry street,
Perkins, Oklahoma 74059, US
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