Commercial Water Heaters Market Size, Industry Analysis Report By Type (Electric, Oil, Gas, Solar, Hybrid, Heat Pump), By Liter (Below 500 Liters, 500‒1,000 Liters, 1,000‒3,000 Liters, 3,000‒4,000 Liters, Above 4,000 Liters), By rated capacity (Up to 10kW, 10‒50kW, 50‒150kW, 150‒300kW, Above 300kW) & Region - Forecasts By 2033
- PUBLISHED ON
- 2024-10-08
- NO OF PAGES
- 277
- CATEGORY
- Machinery & Heavy Industry
Market Overview
The Global Commercial Water Heaters Market is valued at USD 6,080 million in 2022 and is projected to reach a value of USD 9,760 million in 2033 expanding at a CAGR of 6.10% over the forecast period of 2023-2033.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 6,080 Million |
Market Forecast in 2033 | USD 9,760 Million |
CAGR % 2023-2033 | 6.10% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product type, end-user industry, company share, company heatmap, company Material Technology type capacity, growth factors and more |
Segments Covered | type, liter, rated capacity, |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | A.O. Smith Corporation (US), RHEEM Manufacturing Company (US), Rinnai Corporation (Japan), Solahart Industries (Australia), Carrier Global (US), Stiebel Eltron (Germany), etc. Other players in the market include the likes of Viessmann Group (Germany), NIBE Energy Systems (Sweden), Danfoss (Denmark), Valliant Group (Germany), American Water Heaters (US), Daikin (Japan), Mitsubishi Electric (Japan), Andrewes Water Heaters (Baxi Heating) (UK). |
Commercial Water Heaters Market: Description
The commercial sector mainly consists of service-providing facilities that includes, institutional living quarters, sewage treatment plants, medical facilities, such as, hospitals and clinics, hotels, restaurants, motels, holiday homes, commercial complexes, shopping malls, as well as community and public places. The commercial water heaters sector has played an important role in the GDP of developed and emerging economies of the world over the forecast period.
The major factors that have driven the growth of the commercial water heaters market mainly includes increasing investments for the development and expansion of commercial sector operations across different regions. Also, the supportive regulations and grants for using renewable sources of energy in different applications have also played an active role over the forecast period.
The commercial water heaters are often less maintained because of their continuous and uninterrupted operations. Thereby, the heating element that is used for heat transfer in them corrodes over time has significantly decreased their heat transfer capability. Also, the tank-type commercial water heaters have suffered from sedimentation and other common problems because of their constant emersion in water.
One of the major factor that has boosted the market growth over the forecast period is that the market has flourished the global commercial sector. This is because the commercial sector mainly consists of service-providing facilities that includes, institutional living quarters, sewage treatment plants, medical facilities (hospitals and clinics), hotels, restaurants, motels, holiday homes, commercial complexes, shopping malls, and community and public places. Also, it has played an important role in the GDP of developed and emerging economies of the world.
One of the major restrain to the market growth over the forecast period is the high capital expenditure for the development of the commercial water heaters market. This is because their designs and operations have relatively remained unchanged and with the new generation commercial water heaters that focus on offering ease of operations and rising comfort, automation and remote operations, it has been one of the top priorities in their development. This has acted as a major restrain to the market growth.
Commercial Water Heaters Market- Segmental Analysis:
Type Insights
The electric segment has dominated the market growth over the forecast period. This is because the Electric water heaters has offered exceptionally high operational efficiency over the forecast period. Global Commercial Water Heaters Market.
Liter Insights
The below 500 liters segment has dominated the market growth over the forecast period. This is because the small individual commercial water heaters of below 500 liters capacity are used in the hospitality sector for holiday homes and motels as they ensure interruption-free availability of hot water for bathing, personal laundry, etc. applications
Rated Capacity Insights
The 10-50 Kw segment has dominated the market growth over the forecast period. This is because of the requirement of instant hot water has been rising at a significant rate. This led to the deployment of high-powered water heaters to cater to this instant hot water requirement.
Regional Insights
The Global Commercial Water Heaters Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because of the rising use of renewable energy and energy efficient products. The region is also the home to a number of emerging economies including China, India, Singapore, and Malaysia. These economies are witnessing increased investments in their commercial sectors.
Competitive Analysis
Some of the prominent companies operating in the market are A.O. Smith Corporation (US), RHEEM Manufacturing Company (US), Rinnai Corporation (Japan), Solahart Industries (Australia), Carrier Global (US), Stiebel Eltron (Germany), etc. Other players in the market include the likes of Viessmann Group (Germany), NIBE Energy Systems (Sweden), Danfoss (Denmark), Valliant Group (Germany), American Water Heaters (US), Daikin (Japan), Mitsubishi Electric (Japan), Andrewes Water Heaters (Baxi Heating) (UK).
Commercial Water Heaters Market- Segmental Analysis
Based on Type
· Electric
· Oil
· Gas
· Solar
· Hybrid
· Heat Pump
· Others
Based on Liter
· Below 500 Liters
· 500‒1,000 Liters
· 1,000‒3,000 Liters
· 3,000‒4,000 Liters
· Above 4,000 Liters
Based on Rated Capacity
· Up to 10kW
· 10‒50kW
· 50‒150kW
· 150‒300kW
· Above 300kW
1. Global Commercial Water Heaters Market Introduction and Market
Overview
1.1.
Objectives of the Study
1.2.
Global Commercial Water Heaters
Market Scope and Market Estimation
1.2.1.Global Commercial
Water Heaters Overall Market Size, Revenue (US$ Mn) and Volume (Units), Market
CAGR (%), Market forecast (2023 - 2033)
1.2.2.Global Commercial
Water Heaters Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033
1.3.
Market Segmentation
1.3.1.Type of
Global Commercial Water Heaters Market
1.3.2.Capacity
of Global Commercial Water Heaters Market
1.3.3.Power
Rating Mode of Global Commercial Water Heaters Market
1.3.4.Region
of Global Commercial Water Heaters Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Commercial Water
Heaters Market Application Trends under COVID-19 Outbreak
3.1.1.Global
COVID-19 Status Overview
3.1.2.Influence
of COVID-19 Outbreak on Global Commercial Water Heaters Market Application
Development
3.2. Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact
Analysis of Drivers and Restraints
3.3. Value Chain/ Ecosystem
Analysis
3.3.1.Manufacturers
/ Vendors
3.3.2.Distributors
3.3.3.Buyers /
End-users
3.3.4.Forward
Integration & Backward Integration of Key Stakeholders
3.4. Global Commercial Water
Heaters Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5. Porter’s Five Forces
Analysis
3.5.1.Bargaining
Power of Suppliers
3.5.2.Bargaining
Power of Buyers
3.5.3.Threat
of Substitutes
3.5.4.Threat
of New Entrants
3.5.5.Competitive
Rivalry
3.6. PEST Analysis
3.6.1.Political
Factors
3.6.2.Economic
Factors
3.6.3.Social
Factors
3.6.4.Technological
Factors
3.7. Impact of Russia Ukraine
War on Commercial Water Heaters Market
3.8. Impact of Economic
Downturn on Commercial Water Heaters Market
3.9. Commercial Water Heaters Production
Capacity, by Major Countries
3.10. Market Investment
Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4. Global Commercial Water
Heaters Market Estimates & Forecast Trend Analysis, by Type
4.1.
Global Commercial Water Heaters
Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Type, 2019 to 2033
4.1.1. Electric
4.1.2. Oil
4.1.3. Gas
4.1.4. Solar
4.1.5. Hybrid
4.1.6. Heat Pump
4.1.7. Others
5. Global Commercial Water
Heaters Market Estimates & Forecast Trend Analysis, by Capacity
5.1.
Global Commercial Water Heaters
Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Capacity, 2019 to 2033
5.1.1. Below
500 Liters
5.1.2. 500‒1,000
Liters
5.1.3. 1,000‒3,000
Liters
5.1.4. 3,000‒4,000
Liters
5.1.5. Above
4,000 Liters
6. Global Commercial Water
Heaters Market Estimates & Forecast Trend Analysis, by Power Rating
6.1.
Global Commercial Water Heaters
Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Power Rating, 2019 to 2033
6.1.1. Up
to 10kW
6.1.2. 10‒50kW
6.1.3. 50‒150kW
6.1.4. 150‒300kW
6.1.5. Above
300kW
7. Global Commercial Water
Heaters Market Estimates & Forecast Trend Analysis, by Region
7.1.
Global Commercial Water Heaters
Market Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Region,
2019 to 2033
7.1.1.North
America
7.1.2.Europe
7.1.3.Asia
Pacific
7.1.4.Middle East & Africa
7.1.5.South
America
8. North America Commercial Water Heaters Market: Estimates & Forecast Trend Analysis
8.1. North America Commercial Water Heaters Market Assessments & Key
Findings
8.1.1.Commercial
Water Heaters Market Introduction
8.1.2.Commercial
Water Heaters Market Size Estimates and Forecast (US$ Million & Units) (2019
– 2033)
8.1.2.1.
By Type
8.1.2.2.
By Capacity
8.1.2.3.
By Power Rating
8.1.2.4.
By Country
8.1.2.4.1.
The U.S.
8.1.2.4.2.
Canada
8.1.2.4.3.
Mexico
9. Europe Commercial Water Heaters Market: Estimates & Forecast Trend Analysis
9.1.
Europe Commercial Water Heaters
Market Assessments & Key Findings
9.1.1.Commercial
Water Heaters Market Introduction
9.1.2.Commercial
Water Heaters Market Size Estimates and Forecast (US$ Million & Units) (2019
– 2033)
9.1.2.1.
By Type
9.1.2.2.
By Capacity
9.1.2.3.
By Power Rating
9.1.2.4.
By Country
9.1.2.4.1.
Italy
9.1.2.4.2.
Germany
9.1.2.4.3.
U.K.
9.1.2.4.4.
France
9.1.2.4.5.
Spain
9.1.2.4.6.
Rest of Europe
10. Asia Pacific Commercial Water Heaters Market: Estimates & Forecast Trend Analysis
10.1. Asia Pacific Market Assessments & Key Findings
10.1.1.
Commercial Water Heaters Market
Introduction
10.1.2.
Commercial Water Heaters Market
Size and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)
10.1.2.1.
By Type
10.1.2.2.
By Capacity
10.1.2.3.
By Power Rating
10.1.2.4.
By Country
10.1.2.4.1. China
10.1.2.4.2. Japan
10.1.2.4.3. India
10.1.2.4.4. Australia
10.1.2.4.5. South Korea
10.1.2.4.6. ASEAN
10.1.2.4.7. Rest of Asia Pacific
11. Middle East & Africa Commercial Water Heaters Market: Estimates & Forecast Trend Analysis
11.1. Middle East & Africa Market Assessments & Key Findings
11.1.1.
Commercial Water Heaters Market
Introduction
11.1.2.
Commercial Water Heaters Market
Size and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)
11.1.2.1.
By Type
11.1.2.2.
By Capacity
11.1.2.3.
By Power Rating
11.1.2.4.
By Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South Africa
11.1.2.4.5. Rest of Middle East & Africa
12. South America Commercial Water Heaters Market: Estimates & Forecast Trend Analysis
12.1. South America Market Assessments & Key Findings
12.1.1.
Commercial Water Heaters Market
Introduction
12.1.2.
Commercial Water Heaters Market
Size and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)
12.1.2.1.
By Type
12.1.2.2.
By Capacity
12.1.2.3.
By Power Rating
12.1.2.4.
By Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13.
Competition Landscape
13.1. Commercial Water Heaters Market Competition Matrix &
Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants
13.2. Commercial Water Heaters Market Competition White Space Analysis, By
End-user
13.3. Commercial Water Heaters Market Competition Regional Intensity Map
Analysis, By Geographies Served
13.4. Commercial Water Heaters Market Concentration & Company Market
Shares (%) Analysis, 2022
14.
Company Profiles
14.1.A.O. Smith Corporation
14.1.1.
Company Overview & Key
Stats
14.1.2.
Financial Performance &
KPIs
14.1.3.
Product Portfolio
14.1.4.
Business Strategy & Recent
Developments
* Similar details would be provided for all the players
mentioned below
14.2.RHEEM Manufacturing Company
14.3.Rinnai Corporation
14.4.Solahart Industries
14.5.Carrier Global
14.6.Stiebel Eltron
14.7.Viessmann Group
14.8.NIBE Energy Systems
14.9.Danfoss Others**
15.
Research Methodology
15.1.
External Power
Outputs / Databases
15.2.
Internal
Proprietary Database
15.3.
Primary
Research
15.4.
Secondary
Research
15.5.
Assumptions
15.6.
Limitations
15.7.
Report
FAQs
16.
Research Findings & Conclusion
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Frequently Asked Questions
What is the market size and growth projections?
The Global Commercial Water Heaters Market is valued at USD 6,080 million in 2022 and is projected to reach a value of USD 9,760 million in 2033 expanding at a CAGR of 6.10% over the forecast period of 2023-2033.
What are the drivers shaping various markets?
The major factors that have driven the growth of the commercial water heaters market mainly includes increasing investments for the development and expansion of commercial sector operations across different regions.
Who are the key competitors of market Players?
Some of the major players operating within the market are A.O. Smith Corporation (US), RHEEM Manufacturing Company (US), Rinnai Corporation (Japan), Solahart Industries (Australia), Carrier Global (US), Stiebel Eltron (Germany), etc. Other players in the market include the likes of Viessmann Group (Germany), NIBE Energy Systems (Sweden), Danfoss (Denmark), Valliant Group (Germany), American Water Heaters (US), Daikin (Japan), Mitsubishi Electric (Japan), Andrewes Water Heaters (Baxi Heating) (UK).
What are the top performing segments, and countries / regions of each of the markets?
The Global Commercial Water Heaters Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because of the rising use of renewable energy and energy efficient products.
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