Commercial Water Heater Market’s annual installation to hit 4 million units by 2028, Says GMI

Selbyville, Delaware, Aug. 17, 2021 (GLOBE NEWSWIRE) —

The commercial water heater market is set to surpass the annual installation of 4 million units by 2028, as reported in the latest study by Global Market Insights Inc. Growing consumer spending on energy efficient appliances, increasing industrialization & urbanization along with strict norms to curb the carbon emissions is anticipated to strengthen the product adoption.

Strict building efficiency codes and standards coupled with increasing investment in green building projects will affect the commercial water heater industry size. Growing customer awareness toward benefits of smart water heating systems along with stringent mandates toward installation of advance and modern equipment, specifically in educational & other commercial institutes to limit the power consumption will influence the product penetration.

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250-400 liters water heater segment is set to grow owing to mounting demand for heating units in various commercial establishments including shopping complexes, government offices and hospitals among others. Rising need of smart control systems for effective management specifically across airports and malls is set to strengthen the industry expansion.

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

  • Growing hot water requirement across hospitals, shopping complexes, hotels among others is set to augment the business landscape.
  • Ongoing expansion of the building infrastructure along with smart city & green building development will boost the industry scenario.
  • The manufacturers are involved in inorganic growth ventures comprising of mergers & acquisitions and joint ventures along with various technology providers that aim at business expansion to suit the changing customer requirements.
  • The key players operational in the commercial water heater market include Ariston Thermo, Jaguar, A.O Smith, Viessman Manufacturing Group, and Linuo Ritter among others.

Browse key industry insights spread across 1000 pages with 2124  market data tables & 48 figures & charts from the report, “Commercial Water Heater Market Forecasts 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), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2028” in detail along with the table of contents:

The outbreak of COVID-19 pandemic has affected the global economy wherein the global manufacturers continue to bear supply shortages owing to lockdowns and restrictions imposed by various regional governments. The OEMs face several challenges to resume the production facilities due to the prevalent labor shortages. however, with the development of various healthcare facilities along with the growing demand for minimal production is set to enhance the product penetration.

U.S. commercial water heater market is projected to record more than 3% CAGR through 2028. Extreme climatic conditions in the country along with considerable growth in the service sector will favor the business landscape. Refurbishment and replacement of the conventional heating systems with energy efficient and modern designs is set to boost the product demand.

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About Global Market Insights

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.