U.S. Commercial Water Heater Market is estimated to reach over USD 750 million by 2025. Extreme climatic conditions across the cities with subzero temperature coupled with rapid development of skyscraper buildings will drive the U.S. commercial water heater market growth. Extensive growth of service sector coupled with expansion of current manufacturing units will complement the business landscape. Furthermore, technological upgradation with introduction of innovative features including remote control, Wi-Fi integration and control & management system will augment the industry landscape.
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Rapid expansion of existing businesses coupled with continuous government support to boost the business practices across Michigan and other states will stimulate the East North Central commercial water heater market growth. For instance, ENERGY STAR summary of water heater programs, in 2018, Illinois noted the highest funds amongst the region valued over USD 10-25 million. Furthermore, continuous support from local cooperatives and municipal utilities will further accelerate the industry growth.
Dedicated promotional activities to promote the adoption of efficient heating technologies coupled with government provided incentives and rebates will drive the U.S. commercial water heater market growth. Growing concerns toward climate change with rapid shift toward clean energy sources will augment the business landscape. Rapid incline in the gas storage & tankless system demand coupled with ongoing retrofitting activities to comply with the stringent industry policies will positively enhance the industry outlook.
The instant water heater market is predicted to grow on account of extensive tourism sector growth leading to growing hot water demand from hotels and hospitals. Substantial power optimization along with on demand heating have resulted in growing deployment across corporate offices. In addition, growing demand from high rise buildings and hotels owing to efficient performance and high energy factor than its substitutes will encourage the product adoption.
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Notable players functioning across the U.S. commercial water heater industry include: Bosch Thermotechnology, A.O Smith, Havells India Limited, Bradford White, General Electric Appliances, Rheem Manufacturing, Haier Electronics, Hubbell, Viessmann Group, Whirlpool Corporation, State Industries, Ariston Thermo and Rinnai Corporation.
Extensive growth across hospitality and healthcare sector will stimulate the North East commercial water heater market growth. Growing demand from the state’s primary commercial hubs including Pennsylvania, New Jersey and New York will enhance the industry outlook. Increasing spending toward construction projects along with extensive infrastructure across the region will enhance the business outlook. Furthermore, extreme temperature drop during winters will significantly influence the product demand.
Ongoing construction of new colleges and universities will propel the U.S. commercial water heater market growth. Unnecessary water wastage along with need for mass flow units will instigate the demand for gas tankless units. Furthermore, respective government directives for deployment of high efficiency units across government facilities including hospitals and educational institutes will complement the industry landscape.