Market Overview:
The global commercial water heaters market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for hot water in various applications such as colleges, offices, and government buildings, among others. Additionally, the growing awareness about energy-efficient and environment-friendly water heating solutions is also propelling the growth of this market. The electric water heater segment is expected to dominate the global commercial water heaters market during the forecast period owing to its high efficiency and low operating costs. However, solar water heaters are witnessing a high rate of adoption due to their environment-friendly nature and cost-effectiveness over time.
Product Definition:
A commercial water heater is a type of water heater that is designed for use in businesses and other commercial settings. These heaters are typically larger than residential water heaters, and they may be powered by electricity, natural gas, propane, or oil. Commercial water heaters are used to provide hot water for bathing, cleaning, and other purposes in businesses such as hotels, restaurants, hospitals , schools , and factories .
Electric Water Heater:
An electric water heater is a device used to heat water for bathing, washing, and cooking purposes. It is an easy-to-use solution that offers more flexibility as compared to the conventional gas or other portable heating devices. The growth factor in the market includes factors such as increasing demand from developing countries like India and China along with developed regions like North America & Europe coupled with technological advancements in design & features of these products.
Gas Water Heater:
A gas water heater is a closed system, which means it does not allow the entry of external air or other gases into its interior.
The most common method is to use hot gas (generally supplied by combustion based heating systems) that rises into a chamber filled with heated water.
Application Insights:
The others application segment includes residential, hotels, and commercial institutions. The demand for the product in the commercial institutions is expected to witness growth owing to increasing awareness about cost-effectiveness and energy efficiency among businesses. Furthermore, growing concerns regarding environmental pollution are likely to propel the demand for water heaters in offices, government buildings and other commercial complexes over the forecast period.
The colleges/universities & offices segment held a major share of 36% in 2017 on account of factors such as rising number of students across schools and colleges globally coupled with an increase in spending on education infrastructure has led many governments across countries to invest heavily on this sector which eventually resulted into high product penetration at a domestic level too thus driving overall industry growth over recent years. Moreover, technological advancements have played an important role leading companies such as Dacor Group Lda.
Regional Analysis:
Asia Pacific dominated the global market in 2017 owing to increasing awareness regarding the product benefits and its usage. The region is expected to witness significant growth over the forecast period due to growing population, rapid urbanization, and rising standards of living. Moreover, government initiatives for providing subsidies on commercial water heaters are anticipated to propel industry growth over the coming years.
Europe accounted for a major share in terms of revenue as well as volume in 2017 owing to high demand from offices and hotels & restaurants sector. Government initiatives such as “Housing for All by 2020†initiative taken by former Italian prime minister Matteo Renzi is expected boost residential construction activities which will drive overall construction spending thereby driving gas water heater sales across Europe during the forecast period.
North America also held a significant share in terms of revenue due mainly expansion plans undertaken by hotel chains such as Marriott International Inc.
Growth Factors:
- Increasing demand for hot water in commercial applications such as hospitals, schools, and hotels is driving the growth of the global commercial water heaters market.
- Rapid industrialization and urbanization in emerging economies are creating opportunities for the commercial water heaters market.
- The increasing adoption of energy-efficient technologies is propelling the growth of the global commercial water heaters market.
- Growing concerns about environmental sustainability are encouraging businesses to adopt energy-efficient solutions such as commercial water heaters, which is fueling the growth of this market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Water Heaters Market Research Report
By Type
Electric Water Heater, Gas Water Heater, Solar Water Heater
By Application
College, Offices, Government, Others
By Companies
A. O. Smith Corp., Bradford White Corp., Haier Electronics Group Co. Ltd., Midea Group Co. Ltd., Rinnai Corp, Ferroli, Bosch Thermotechnology, A. O. Smith Corp.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Water Heaters Market Report Segments:
The global Commercial Water Heaters market is segmented on the basis of:
Types
Electric Water Heater, Gas Water Heater, Solar Water Heater
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
College, Offices, Government, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- A. O. Smith Corp.
- Bradford White Corp.
- Haier Electronics Group Co. Ltd.
- Midea Group Co. Ltd.
- Rinnai Corp
- Ferroli
- Bosch Thermotechnology
- A. O. Smith Corp.
Highlights of The Commercial Water Heaters Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Water Heater
- Gas Water Heater
- Solar Water Heater
- By Application:
- College
- Offices
- Government
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Water Heaters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial water heaters are used in businesses and other commercial settings to provide hot water for a variety of purposes. They can be used to heat up water for tea or coffee, wash dishes, or even steam clothes.
Some of the major companies in the commercial water heaters market are A. O. Smith Corp., Bradford White Corp., Haier Electronics Group Co. Ltd., Midea Group Co. Ltd., Rinnai Corp, Ferroli, Bosch Thermotechnology, A. O. Smith Corp..
The commercial water heaters market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Water Heaters Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Water Heaters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Water Heaters Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Water Heaters Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Water Heaters Market Size & Forecast, 2018-2028
4.5.1 Commercial Water Heaters Market Size and Y-o-Y Growth
4.5.2 Commercial Water Heaters Market Absolute $ Opportunity
Chapter 5 Global Commercial Water Heaters Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial Water Heaters Market Size Forecast by Type
5.2.1 Electric Water Heater
5.2.2 Gas Water Heater
5.2.3 Solar Water Heater
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial Water Heaters Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial Water Heaters Market Size Forecast by Applications
6.2.1 College
6.2.2 Offices
6.2.3 Government
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Water Heaters Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Water Heaters Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial Water Heaters Analysis and Forecast
9.1 Introduction
9.2 North America Commercial Water Heaters Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial Water Heaters Market Size Forecast by Type
9.6.1 Electric Water Heater
9.6.2 Gas Water Heater
9.6.3 Solar Water Heater
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial Water Heaters Market Size Forecast by Applications
9.10.1 College
9.10.2 Offices
9.10.3 Government
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial Water Heaters Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial Water Heaters Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial Water Heaters Market Size Forecast by Type
10.6.1 Electric Water Heater
10.6.2 Gas Water Heater
10.6.3 Solar Water Heater
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial Water Heaters Market Size Forecast by Applications
10.10.1 College
10.10.2 Offices
10.10.3 Government
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial Water Heaters Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial Water Heaters Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial Water Heaters Market Size Forecast by Type
11.6.1 Electric Water Heater
11.6.2 Gas Water Heater
11.6.3 Solar Water Heater
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial Water Heaters Market Size Forecast by Applications
11.10.1 College
11.10.2 Offices
11.10.3 Government
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial Water Heaters Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial Water Heaters Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial Water Heaters Market Size Forecast by Type
12.6.1 Electric Water Heater
12.6.2 Gas Water Heater
12.6.3 Solar Water Heater
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial Water Heaters Market Size Forecast by Applications
12.10.1 College
12.10.2 Offices
12.10.3 Government
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial Water Heaters Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial Water Heaters Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial Water Heaters Market Size Forecast by Type
13.6.1 Electric Water Heater
13.6.2 Gas Water Heater
13.6.3 Solar Water Heater
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial Water Heaters Market Size Forecast by Applications
13.10.1 College
13.10.2 Offices
13.10.3 Government
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Water Heaters Market: Competitive Dashboard
14.2 Global Commercial Water Heaters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 A. O. Smith Corp.
14.3.2 Bradford White Corp.
14.3.3 Haier Electronics Group Co. Ltd.
14.3.4 Midea Group Co. Ltd.
14.3.5 Rinnai Corp
14.3.6 Ferroli
14.3.7 Bosch Thermotechnology
14.3.8 A. O. Smith Corp.
