Commercial Water Heaters Market Size to Grow by USD 2.16 Bn | Increasing demand for hybrid water heaters to boost market growth | Technavio

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Mar 23, 2022, 02:45 ET

NEW YORK, March 23, 2022 /PRNewswire/ -- According to the research report, Commercial Water Heaters Market will witness a YOY growth of 4.65% in 2022 at a CAGR of 5.41% during the forecast period. The report is segmented by type (electric water heater, gas water heater, and solar water heater) and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

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Latest market research report titled Commercial Water Heaters Market by Type and Geography - Forecast and Analysis 2022-2026 has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years

Vendor Insights

The Commercial Water Heaters Market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

A. O. Smith Corp.
Ariston Holding NV
Bradford White Corp.
Eccotemp Systems LLC
Electrolux AB
Ferroli Spa
Guangdong Vanward New Electric Co. Ltd.
Haier Smart Home Co. Ltd.
Hangzhou Kangquan Water Heater Co. Ltd.
Hubbell Electric Heater Co.
The Jaquar Group
MIDEA GROUP
Noritz Corp.
Paloma Co. Ltd.
Rinnai Corp.
Robert Bosch GmbH
STIEBEL ELTRON GmbH and Co. KG
Vaillant Group
Viessmann Werke GmbH and Co. KG
Watts Water Technologies Inc.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.

Geographical Market Analysis

During the forecast period, APAC will account for 43 percent of market growth. In APAC, China, Japan, and India are the most important markets for commercial water heaters. The market in this region will increase at a quicker rate than the market in other regions.

Several growing economies, including India, China, Vietnam, and the Philippines, are increasing their infrastructure spending on commercial projects, which would help the commercial water heaters market grow in APAC throughout the projection period.

Furthermore, countries such as the US, China, Japan, India, and Germany are expected to emerge as prominent markets for Commercial Water Heaters during the forecast period.

Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/commercial-water-heaters-market-size-industry-analysis

Key Segment Analysis

During the projected period, the electric water heaters segment will gain a major proportion of the commercial water heaters market. In the coming years, ongoing innovations in tankless or instantaneous water heaters will drive the segment's growth. Furthermore, electric water heaters are far more cost-effective than gas water heaters.

View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.

Key Market Drivers & Challenges:

The growing demand for hybrid water heaters is one of the major reasons driving the global commercial water heaters market. Water heaters in commercial spaces save more energy than those in residential buildings since they are put in a larger number of bathrooms and hot water is used more frequently. Furthermore, the increasing expansion of air passenger traffic will propel the global hotel sector forward. As a result, numerous worldwide luxury hotel companies are constructing new hotels to boost tourism.

However, the high installation and maintenance costs are the main obstacles to the global commercial water heaters market's growth.

Download free sample for highlights on market Drivers & Challenges affecting the Commercial Water Heaters Market.

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Variable Frequency Drives Market by End-user, Type, and Geography - Forecast and Analysis 2022-2026

Commercial Water Heaters Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.41%
Market growth 2022-2026	$ 2.16 billion
Market structure	Fragmented
YoY growth (%)	4.65
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 43%
Key consumer countries	US, China, Japan, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	A. O. Smith Corp., Ariston Holding NV, Bradford White Corp., Eccotemp Systems LLC, Electrolux AB, Ferroli Spa, Guangdong Vanward New Electric Co. Ltd., Haier Smart Home Co. Ltd., Hangzhou Kangquan Water Heater Co. Ltd., Hubbell Electric Heater Co., The Jaquar Group, MIDEA GROUP, Noritz Corp., Paloma Co. Ltd., Rinnai Corp., Robert Bosch GmbH, STIEBEL ELTRON GmbH and Co. KG, Vaillant Group, Viessmann Werke GmbH and Co. KG, and Watts Water Technologies Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments

Exhibit 24: Chart on Type - Market share 2021-2026 (%)
Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type

Exhibit 26: Chart on Comparison by Type
Exhibit 27: Data Table on Comparison by Type

5.3 Electric water heater - Market size and forecast 2021-2026

Exhibit 28: Chart on Electric water heater - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Electric water heater - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Electric water heater - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Electric water heater - Year-over-year growth 2021-2026 (%)

5.4 Gas water heater - Market size and forecast 2021-2026

Exhibit 32: Chart on Gas water heater - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Gas water heater - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Gas water heater - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Gas water heater - Year-over-year growth 2021-2026 (%)

5.5 Solar water heater - Market size and forecast 2021-2026

Exhibit 36: Chart on Solar water heater - Market size and forecast 2021-2026 ($ million)
Exhibit 37: Data Table on Solar water heater - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Chart on Solar water heater - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Solar water heater - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Type

Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 42: Chart on Market share by geography 2021-2026 (%)
Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 44: Chart on Geographic comparison
Exhibit 45: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026

Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 North America - Market size and forecast 2021-2026

Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 China - Market size and forecast 2021-2026

Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.9 US - Market size and forecast 2021-2026

Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.10 Japan - Market size and forecast 2021-2026

Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.11 India - Market size and forecast 2021-2026

Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

7.12 Germany - Market size and forecast 2021-2026

Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 89: Overview on factors of disruption

9.4 Industry risks

Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 91: Vendors covered

10.2 Market positioning of vendors

Exhibit 92: Matrix on vendor position and classification

10.3 A. O. Smith Corp.

Exhibit 93: A. O. Smith Corp. - Overview
Exhibit 94: A. O. Smith Corp. - Business segments
Exhibit 95: A. O. Smith Corp. - Key offerings
Exhibit 96: A. O. Smith Corp. - Segment focus

10.4 Ariston Holding NV

Exhibit 97: Ariston Holding NV - Overview
Exhibit 98: Ariston Holding NV - Product / Service
Exhibit 99: Ariston Holding NV - Key news
Exhibit 100: Ariston Holding NV - Key offerings

10.5 Bradford White Corp.

Exhibit 101: Bradford White Corp. - Overview
Exhibit 102: Bradford White Corp. - Product / Service
Exhibit 103: Bradford White Corp. - Key offerings

10.6 Electrolux AB

Exhibit 104: Electrolux AB - Overview
Exhibit 105: Electrolux AB - Business segments
Exhibit 106: Electrolux AB - Key offerings
Exhibit 107: Electrolux AB - Segment focus

10.7 Ferroli Spa

Exhibit 108: Ferroli Spa - Overview
Exhibit 109: Ferroli Spa - Product / Service
Exhibit 110: Ferroli Spa - Key offerings

10.8 Haier Smart Home Co. Ltd.

Exhibit 111: Haier Smart Home Co. Ltd. - Overview
Exhibit 112: Haier Smart Home Co. Ltd. - Business segments
Exhibit 113: Haier Smart Home Co. Ltd. - Key offerings
Exhibit 114: Haier Smart Home Co. Ltd. - Segment focus

10.9 Hubbell Electric Heater Co.

Exhibit 115: Hubbell Electric Heater Co. - Overview
Exhibit 116: Hubbell Electric Heater Co. - Product / Service
Exhibit 117: Hubbell Electric Heater Co. - Key offerings

10.10 MIDEA Group Co. Ltd.

Exhibit 118: MIDEA Group Co. Ltd. - Overview
Exhibit 119: MIDEA Group Co. Ltd. - Business segments
Exhibit 120: MIDEA Group Co. Ltd. - Key offerings
Exhibit 121: MIDEA Group Co. Ltd. - Segment focus

10.11 Rinnai Corp.

Exhibit 122: Rinnai Corp. - Overview
Exhibit 123: Rinnai Corp. - Business segments
Exhibit 124: Rinnai Corp. - Key offerings
Exhibit 125: Rinnai Corp. - Segment focus

10.12 Viessmann Werke GmbH and Co. KG

Exhibit 126: Viessmann Werke GmbH and Co. KG - Overview
Exhibit 127: Viessmann Werke GmbH and Co. KG - Product / Service
Exhibit 128: Viessmann Werke GmbH and Co. KG - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 129: Inclusions checklist
Exhibit 130: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 131: Currency conversion rates for US$

11.4 Research methodology

Exhibit 132: Research methodology
Exhibit 133: Validation techniques employed for market sizing
Exhibit 134: Information sources

11.5 List of abbreviations

Exhibit 135: List of abbreviations

Unless explicitly mentioned, all revenues are represented in US dollars

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