U.S. Commercial Water Heater Market 2021 : Driving Factors, Key Vendors and Forecasts to 2026
U.S. Commercial Water Heater Market is expected to witness considerable growth with an annual installation of more than 280,000 units by 2026.
Delaware, United States – August 12, 2021 /MarketersMedia/ —
Consistently rising demand for energy-efficient water heating solutions and growing deployment of centralized water heating systems will drive U.S. commercial water heater market in the coming years. As per the EIA’s latest Residential Energy Consumption Survey (RECS), in 2015, water heating and space heating systems were the top two energy-consuming sources, which accounted for about two-thirds of energy usage in U.S. homes.
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Growing demand for hot water provision and the deployment of water heaters in commercial establishments would drive industry expansion in the coming years. According to a Global Market Insights, Inc., analysis report, the U.S. commercial water heater market is expected to witness considerable growth with an annual installation of more than 280,000 units by 2026. Mentioned below are some key aspects driving water heater installation in commercial infrastructures.
Growing preference for storage water heaters
Storage type commercial water heating units have a simple design, which allows their easy installation in various water heating applications. The availability of these systems in a wide range of capacities enables its usability in a number of different applications. The growing adoption of large capacity water heaters in commercial establishments on account of these benefits and features will augment the overall industry growth in the upcoming years.
Robust demand for in 30 – 100 liters capacity heaters
The industry has experienced significant growth from 30 – 100 liters capacity water heaters due to increasing requirements for hot water provisions across hotels, hospitals, and shopping complexes. The demand for the product is primarily attributed to its features of easy handling and multiple control options. The mass deployment of these water heating systems at numerous commercial establishments and growing preference for advanced models over conventional systems will drive the industry landscape in the future.
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High preference for gas water heaters
Gas water heaters market is projected to witness a substantial growth at a CAGR of more than 5% up to 2026. The enhanced efficiency and higher flow rates of gas-based water heaters encourage their increased adoption over other available alternatives. Additionally, the demand for energy-efficient water heating solutions to minimize soaring electricity bill expenditures and to increase power savings will positively impact the U.S. commercial water heater industry outlook.
Energy efficient building projects in the U.S.
The presence of government-funded construction programs for the establishment of energy-efficient buildings and growing infrastructural expansion in the region will foster the U.S. commercial water heater industry. The low power consumption and point-of-use applications of instant water heating systems are positively impacting their demand in the market. Factors like rising population and internal migration towards suburban regions are further supporting this demand. Additionally, rapid urbanization and substantial expansion of commercial establishments will complement business growth across the region.
Strong commercial water heater demand in the South Atlantic
The South Atlantic commercial water heater industry growth will be driven by the escalating demand for seasonal space heating systems and flourishing tourism sector. Washington D.C., Maryland, Georgia, Florida, and others are some tourism-dependent economies in the region. Also, ongoing nonresidential infrastructural development projects across retail, hotels, healthcare, education, offices, and warehouses will further propel the regional demand for water heating solutions.
Growing commercialization and infrastructural development, and extreme weather conditions are expected to boost considerable demand for cost-effective water heating systems across the U.S. in the forthcoming years. Major companies functioning in the U.S. commercial water heater industry include Armstrong International, Inc., Rheem Manufacturing Company, and General Electric Appliances, among others.
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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