Commercial Water Heater Market Worth Over $9.9 billion by 2032 | Asia Pacific Dominate by Japan, South Korea

According to a new report published by Allied Market Research, The commercial water heater market was valued at $6.3 billion in 2022 and is estimated to reach $9.9 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

A commercial water heater is a device that is specifically designed to provide heated water for various commercial or industrial applications. These water heaters are typically larger and more robust than residential water heaters as they need to meet the higher demand for hot water in commercial settings such as hotels, restaurants, hospitals, office buildings, and manufacturing facilities.

Click Here to Request PDF: https://www.alliedmarketresearch.com/request-sample/54182

The Asia-Pacific is expected to grow at a higher CAGR during the commercial water heater market forecast period owing to the presence of developing economies.

North America dominated the commercial water heater market and is expected to grow at a CAGR of 4.6% during the forecast period.

The major players operating in the commercial water heater industry are A.O. Smith Corporation, Danfoss A/S, Mitsubishi Electric Corporation, STIEBEL ELTRON GmbH and Co. KG, NIBE Industrier AB, Carrier Global Corporation, Robert Bosch GmbH, Rheem Manufacturing Company, Bajaj Electricals Ltd., and Bradford White Corporation.

Other players in the industry are Racold, Venus, Nortiz Corporation, Daikin Industries, Valliant, and American Water Heaters.

The growth of the global commercial water heater market is majorly driven by growing infrastructure, especially in public and commercial sectors.

Click Here to Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/54182

The demand for water heaters that are integrated with renewable sources which are both environmentally friendly as well as pocket-friendly has increased considerably owing to several subsidies provided by governments in many countries.

Such water heaters help curb carbon emissions that contribute to the net-zero targets of many countries. Moreover, it is a great aid in reducing dependence on electricity derived from fossil fuels. Booming commercial sector and real estate sectors in the Asia-Pacific region and advancements in the current technology is the recent commercial water heater market trends.

Energy efficiency is an important consideration for commercial water heaters since they are often used continuously and can consume significant amounts of energy. Look for models with high energy efficiency ratings, such as those certified by ENERGY STAR or other local energy efficiency programs.

When selecting a commercial water heater, it's important to consider the specific hot water requirements of your establishment, local building codes, energy efficiency standards, and any other relevant factors. Consulting with a professional plumber or an HVAC (heating, ventilation, and air conditioning) specialist can help determine the most suitable commercial water heater for your needs.

Buy This Report (350 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3MFNlkn

North America dominated the market in 2022, however, Asia-Pacific is expected to grow at a higher CAGR during the projection period. This can be attributed to the surge in demand for commercial real estate in the region as well as infrastructural development in developing economies.

By rated capacity, the market is divided into 0-10 kW, 10-50 kW, 50-100 kW, and above 100 kW. The 10-50 kW segment dominated the market share for 2022 and is expected to maintain its leading position during the projection period. This is attributed to the fact that heaters with 10-50 kW capacity are widely used in cafes, hotels, hostels, restaurants, and offices.

Depending on the storage capacity, 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 is anticipated to grow at a notable CAGR during the forecast period. This is attributed to the potential demand from small commercial buildings, especially with an increased focus on solar commercial water heaters that are being installed on a large scale.

Bio-fueled water heaters have almost zero maintenance cost and prolonged service life, which is its key benefit. Using wood as solid fuel in place of fossil fuels helps to prevent long-term climate changes since the carbon dioxide released during the combustion was actually absorbed while the tree was growing, so they are essentially carbon neutral. Modern solid-fueled commercial water heaters are fuel efficient, much cleaner, and safer.

Read Complete Research Report: https://www.alliedmarketresearch.com/commercial-water-heater-market-A53707

They use wood, which is either freely available or at a cheap rate, thereby helping to cut down electricity bills. Thus, multiple benefits associated with bio-fueled waters boost their demand across the globe, thereby augmenting market growth.

Trending Reports in Energy and Power Industry:

Gas Water Heater Market

https://www.prnewswire.com/news-releases/gas-water-heater-market-to-reach-12-8-billion-globally-by-2032-at-5-1-cagr-allied-market-research-301936194.html

Commercial Water Heater Market

https://www.globenewswire.com/news-release/2023/05/11/2666925/0/en/Commercial-Water-Heater-Market-to-Reach-9-9-Billion-Globally-by-2032-at-4-6-CAGR-Allied-Market-Research.html

Line Heaters Market

https://www.globenewswire.com/news-release/2023/03/27/2635108/0/en/Line-Heaters-Market-Is-Expected-to-Reach-34-4-Million-by-2031-Allied-Market-Research.html

Tankless Water Heater Market

https://www.globenewswire.com/news-release/2022/07/05/2473996/0/en/Tankless-Water-Heater-Market-Is-Expected-to-Reach-12-3-Billion-by-2031-Says-AMR.html

Residential Boiler Market

https://www.globenewswire.com/news-release/2022/10/07/2530138/0/en/Residential-Boiler-Market-Is-Expected-to-Reach-12-5-Billion-by-2031-Says-AMR.html

Gas Meter Market

https://www.globenewswire.com/news-release/2021/06/07/2242878/0/en/Gas-Meter-Market-is-Expected-to-Reach-9-7-Billion-by-2028-Says-AMR.html

David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int'l: +1-503-894-6022Toll Free: +1-800-792-5285Fax: +1-800-792-5285help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.