Commercial Water Heater Market to reach USD 7 billion by 2026, Says Global Market Insights, Inc.

SELBYVILLE  , Del., Aug. 20, 2020 /PRNewswire/ -- Global commercial water heater market value is set to cross USD 7 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Increased consumer spending on energy efficient appliances, rising urbanization coupled with stringent mandates to curb the carbon emissions is anticipated to influence the product penetration. In addition, growing development of commercial establishments coupled with rising product advancements including higher efficiency, hassle free installation, and low cost will augment the business scenario.

Stringent building efficiency codes and standards coupled with increasing investment in green building projects is set to impact the water heater demand. Growing consumer awareness toward advantages of smart water heating equipment along with rising mandates toward installation of energy efficient equipment in educational and commercial institutes to limit the power consumption will encourage the product adoption. Furthermore, growing urbanization and industrialization in the developing economies, shifting consumer trend toward urban migration along with rising need to reduce the electricity bills will propel the commercial water heater market trends.

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Storage water heating units is projected to grow owing to key characteristics including low installation & maintenance charges, high water holding capacity and simple operating system. Shifting customer focus toward modern and advanced products equipped with features comprising friendly user interface, uncompromised water pressure, and multi usage points will fuel the product demand. Escalating growth across the tourism sector coupled with increased spending toward research & development activities will further influence the product penetration.

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

• The surging demand for hot water across hospitals, shopping complexes, hotels and other commercial establishments will drive the product penetration.
• Rapid expansion of the building infrastructure along with ongoing development of smart cities and green buildings is projected to strengthen the business landscape.
• Eminent players operating in the commercial water heater industry include A.O Smith, Linuo Ritter, Ariston Thermo, Jaguar and Viessman Manufacturing among others.
• The industries are involved in inorganic growth ventures including acquisitions, mergers and joint ventures with numerous technology providers aiming at business expansion suitable for customer needs.

Browse key industry insights spread across 1100 pages with 2592  market data tables & 34 figures & charts from the report, "Commercial Water Heater Market Analysis By Application (College/University, Offices, Government/Military), Products (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), Energy Source (Electric, Gas [Natural Gas, LPG]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/commercial-water-heater-market

The outbreak of COVID-19 pandemic has affected the global economy wherein various industries including component manufacturing and construction continue to be impacted. The global manufacturers bear supply shortages on account of restrictions and lockdowns imposed by various state & regional governments. Moreover, the OEMs face numerous challenges to resume their production facilities owing to prevalent labor shortages. Nevertheless, the development of various healthcare facilities to face the ongoing pandemic coupled with the surging demand for minimal production will enhance the product penetration.

250-400 liters capacity systems will grow owing to surging demand for smart heating equipment in the commercial establishment including shopping complexes, government offices among others. Greater requirement of effective management and smart control systems majorly across the airports and malls is set to accelerate the commercial water heater market outlook.

The U.S. commercial water heater industry is projected to register more than 4% CAGR through 2026. Considerable growth along the service sector coupled with prevalent extreme climatic conditions will favour the industry landscape. Replacement & refurbishment of the existing water heating units with energy efficient designs is anticipated to fuel the product installation.

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Browse Related Reports:

U.S. Commercial Water Heater Market By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), 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]}), Energy Source (Electric, Gas {Natural Gas, LPG}), Application (College/University, Office, Government/Military, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

https://www.gminsights.com/industry-analysis/us-commercial-water-heater-market

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.

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SOURCE Global Market Insights, Inc.