Commercial Water Heaters Market– Outlook, Size, Share & Forecast 2028
A recent market intelligence report that is published by Data Insights Partner on the global Commercial Water Heaters Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Commercial Water Heaters Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Commercial Water Heaters Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Commercial Water Heaters Market is offered. In accordance with the report, the global Commercial Water Heaters Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
The process of transferring heat by making use of a source of energy that is devised to heat water beyond the normal temperature is known water heating. Water Heater is one of the traditional devices like cauldrons, kettles and others that are used for water heating domestically. Water heaters provide an uninterrupted supply of hot water. Fossil fuels, nuclear power, renewable powers, solar power and other alternative sources of energy are directly or indirectly used to ensure the functioning of water heaters.
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Market Drivers
The booming commercial sector in both the developed economies and the emerging economies are providing an initial impetus to the growth of the commercial water heater market. Medical institutions like hospitals and clinics, sewage treating plants, organizational living quarters, holiday homes, motels, hotels, restaurants, commercial and shopping complexes, public and community places are some of the commercial areas where commercial water heaters are widely used. These sectors are flourishing are so is the demand for commercial water heaters from these sectors. Stringent norms objected towards the employment of energy efficient water heaters to curtail cost and improve productivity of the product is fueling the growth of this market. The soaring usage of commercial water heaters in industrial and manufacturing process and in food and beverages industry are determining factors for the growth of this market.
Technological advancement and its application in the development of commercial water heaters for product innovation and development are propelling the growth of this market. Apart from developing the functioning portion of these products, the development of wireless techniques and drive for aesthetic pleasures to enhance designs and outlook of these products is likely to have positive influence to this market.
The initiatives that lead to the establishment of smart cities and green buildings and the government support coupled with the government’s norms and directives to ensure the use of energy efficient appliances and surging dependence on renewable sources of energy are empowering the growth of the commercial water heaters market.
Market Restraints
Owing to the use of premium quality raw materials for the production of commercial heaters to ensure the longevity of these products, the producers has to incur high capital investment that is severely straining the growth of this market.
Commercial water heaters are used on continuously throughout the day and night and hence deserves special attention and maintenance on a regular basis. The high operational and repairing and maintaining cost on a daily basis is hindering the growth of this market.
Opportunities
The application of constantly evolving technology on the commercial water heaters that led to the development of automatic techniques, LCDs, Artificial Intelligence and warning indicators are likely to provide growth prospects to this market.
The favorable government intervention and support to this market in terms of adoption of energy efficient technologies and renewable and alternative sources of energy is likely to provide lucrative opportunities to this market. Moreover, the smart home and smart appliances project is great scope for this market.
Trends
North America and Latin America is likely to showcase positive growth owing to the surging demand for energy efficient water heater technologies and the replacement of conventional technologies in the traditional commercial water heaters by more advanced technologies. Europe is also projected to show market progress owing to the niche carved by the government to act as a supporting pillar to this market and also rising demand due to the substitution of aging commercial water heaters with new age technologies. Asia Pacific is estimated to be the fastest growing region as a result of urbanization, spurring demand for customized and advanced commercial water heaters. Middle East and Africa is likely to showcase positive growth because of the emission standards set up by the government and advancement in technologies.
Segment Covered:
This market intelligence report on the global Commercial Water Heaters Market encompasses market segments based on product type, technology type, capacity and country.
By Product Type the global Commercial Water Heaters Market has been divided into:
q Gas
q Solar
q Electric
q Oil
q Heat Pump
q Hybrid
q Others
By Technology Type the global Commercial Water Heaters Market has been divided into:
q Hybrid
q Storage
q Tankless
By Capacity the global Commercial Water Heaters Market has been divided into:
q Below 30 Litres
q 30 – 100 Litres
q 100 – 250 Litres
q 250 – 400 Litres
q Above 400 Litres
By country/region, the global Commercial Water Heaters Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Danfoss
q A,O,Smith Corporation
q RHEEM Manufacturing Company
q Rinnai Corporation
q Solahart Industries
q Carrier Globes
q Stiebel Eltron
q Bradfort White Corporation
q FERROLI S.p.A
q Haier Inc
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Commercial Water Heaters Market related investment & spending and developments by major players of the market are tracked in this global report.
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Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Rinnai Corporation
In September 2018, Rinnai Corporation set up a brand-new headquarter in the Peachtree City in the State of Georgia in US in order to serve its North American Consumers.
Danfoss
In April 2020, a new online innovation and digital design center was opened by Danfoss. This center provided tools to users including BIM Tools, relevant designing tools, and drawings through self-servicing technologies.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Commercial Water Heaters Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Commercial Water Heaters Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Commercial Water Heaters caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Commercial Water Heaters Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Commercial Water Heaters Market
v Identification of key factors driving investment opportunities in the Commercial Water Heaters Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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