Commercial Water Heater Market is projected to surpass USD 7 billion by 2024

As per the latest research report by the Commercial Water Heater Market is predicted to reach over USD 7 billion by 2024. Significant government investment toward the development of smart cities will enhance the industry outlook. Adoption of advanced technologies along with increasing hot water demand primarily across offices and hotels will stimulate the business growth. The Government of Canada in 2017, developed the ecoENERGY program for facilitating the adoption of efficient heating systems. The authorities promoted the program by providing incentives for installation of appliances across commercial establishment and educational institutes.

The U.S. water heater market is predicted to exceed USD 850 million by 2024. Ongoing regulations for deployment of efficient electrical appliances coupled with rapid growth across the service sector will positively influence the business outlook. Replacement and upgradation of existing systems with compact designs and energy efficient models will enhance the industry outlook.

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Point of use application and low standby loss are some of the key factors which will drive the instant water heater market. In addition, rapid turnaround time along with low power consumption will complement the business landscape. Significant measures by industry players to minimize carbon footprint coupled with rising focus toward cost saving will encourage the product adoption.

Uninterrupted requirement for hot water on account of extreme temperature drop during winters will foster the Russia water heater market. Availability of abundant gas reserves makes the gas fueled heating systems most acceptable option owing to its economic feasibility and reliability. In addition, strict environment regulations along with ongoing government norms for replacement and refurbishment of existing infrastructure will augment the industry landscape.

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100-250 liters system is set to witness rapid growth on account of stringent building standards and codes coupled with ongoing investment toward the construction of sustainable infrastructure. Government directives for the installation of advanced heating units primarily across new constructions coupled with rising adoption of space heating systems will positively enhance the commercial water heater market growth.

Low operational cost, quick recovery rate and mass flow in comparison to its available alternatives will drive the gas water heater market growth. Deployment of gas variants results in significant cost saving owing to accessibility to low cost natural gas across gas abundant regions. In addition, suitability for commercial application coupled with quick heating capability will enhance the industry outlook.

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Key industry players operating across the commercial water heater market include Rinnai Corporation, A.O Smith, Bradford White, Ferroli, Bosch Thermotechnology, Rheem, Saudi Ceramics, State Industries, Haier, Hubbell, Jaquar, Ariston Thermo, Whirlpool, Kanch Water Heaters, Viessmann.and Vaillant.

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