Commercial Water Heater Market To Reach $9.9 Billion, Globally, By 2032 At 4.6% CAGR: Allied Market Research

Commercial Water Heater Market To Reach $9.9 Billion, Globally, By 2032 At 4.6% CAGR: Allied Market Research

The global commercial water heaters market is driven by factors such as increasing investment in the commercial sector and increasing use of hybrid water heaters in the commercial sector.

Portland, Oregon, May 11, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has released a report titled “ Commercial Water Heaters Market by Storage Capacity Type (Below) (Electric, Gas, Oil, Solar, Hybrid & Other)”. 500 liters, 500-1000 liters, 1000-3000 liters, 3000-4000 liters and over 4000 liters) and by rated capacity (0-10 kW, 10-50 kW, 50-100 kW10 e): global industry analysis, 2021 -2031". According to the report, the global commercial water heater industry was valued at $6.3 billion in 2022 and is expected to reach $9.9 billion by 2032, registering a CAGR of 4.6% from 2023 to 2032.

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The main factors of growth

The global commercial water heater market is driven by factors such as increasing investment in the commercial sector and increasing use of hybrid water heaters in the commercial sector . However, the high cost of installation and maintenance is restraining the growth of the market. Conversely, technological advancements in existing technologies are expected to provide potential growth opportunities for the commercial water heater industry.

Scope and details of the report:

Purpose of the report

Details

Forecast period

2023-2032.

Year of reference

2022

Market size in 2022

6.3 billion dollars

Market size in 2032

9.9 billion dollars

CAGR

4.6%

Number of pages in the report

350

Coverage segments

Type, storage capacity, nominal capacity and region

Drivers

Increased investment in the commercial sector

Growing use of hybrid water heaters in the commercial sector

Opportunity

Technological progress in existing technologies

Restrictions

High cost of installation and maintenance

The Covid-19 scenario

  • The outbreak of the COVID-19 pandemic has adversely affected the global commercial water heater market due to successive shutdowns imposed by the governments of several countries.

  • But as the global situation began to improve, the demand for hydrogen increased. This, in turn, has provided several growth opportunities for companies operating in the commercial water heater market.

The commercial solar water heater segment is expected to grow at a faster rate during the forecast period.

By type, the electrical segment accounts for the largest share, accounting for more than two-fifths of the global corporate event market revenue in 2022, and is expected to hold the top position during the forecast period. The increase is due to the increase in the efficiency of electric water heaters. However, the solar energy segment in the CIS is expected to show the fastest CAGR of 5.0 percent from 2023 to 2032. Solar water heaters are environmentally friendly and therefore encouraged by governments around the world.

Get the full report (350-page PDF with concepts, graphs, tables and figures) @

https://www.alliedmarketresearch.com/checkout-final/commercial-water-heater-market

The 500-1000 liter segment will dominate until 2032

Based on storage capacity, the 500-1000 liter segment holds the highest share in 2022, accounting for nearly one-third of the global corporate event market revenue and is expected to dominate in terms of revenue over the forecast period. Indeed, they are widely used in hotels, restaurants, hospitals and small office buildings. However, the segment under 500 liters is expected to grow at an average annual growth rate of 4.9% over the forecast period. This is coupled with potential demand from small commercial buildings, particularly with the growing focus on large commercial solar water heaters. These water heaters are mainly used in small commercial premises such as small offices, beauty salons, small restaurants and small or private medical clinics.

Asia Pacific is expected to witness the fastest growth during the forecast period.

By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the revenue of the global commercial water heater market. This can be explained by the increased demand for commercial real estate in the region and the development of infrastructure in countries with developing economies. The commercial water heater market in Asia Pacific is expected to grow at the highest CAGR of 4.9% during the forecast period due to the presence of emerging economies.

For Purchase: https://www.alliedmarketresearch.com/commercial-water-heater-market/purchase-options

Major Market Players:-

  • JSC Smith Corporation

  • Danfas JSC

  • Mitsubishi Electric Corporation

  • Stibel Electric GmbH & Co. KG

  • NIBE Industrier AB

  • Global transport company

  • Robert Bosch GmbH

  • Roman production company

  • Bajaj Electric Ltd.

  • Bradford White Company Limited

The report provides a detailed analysis of these key players in the global Commercial Water Heater market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements and others to increase their market share and maintain dominant shares in various regions. The report is invaluable in shedding light on the business performance, operating segments, product portfolios and strategic moves of market players to reveal the competitive scenario.

Water Heater Trend Reports (Book now with 10% off):

Gas Water Heaters Market: Global Analysis and Forecast, 2021-2031.

Global Tankless Water Heaters Market: Global Analysis and Forecast, 2021-2031.

Electric Water Heaters Market: Global Analysis and Forecast, 2021-2030.

Who we are:

Allied Market Research (AMR) is an integrated market research and business consulting division of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global corporations and small and medium-sized businesses with the highest quality market research reports and business intelligence solutions. AMR is committed to providing business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market sectors.

We have professional business relationship with various companies which helps us to extract market data which helps us to create accurate research data tables and confirms the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, plays an important role in inspiring and motivating everyone associated with the company, maintaining high quality data and helping clients succeed in every way possible. All information presented in the reports we publish is obtained as a result of preliminary interviews with the heads of companies that are leaders in their fields. Our secondary data sourcing methodology includes extensive online and offline research and discussions with experienced industry practitioners and analysts.

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