The global commercial water heaters market size is poised to reach USD 1.09 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 5% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190826005361/en/
Technavio has announced its latest market research report titled global commercial water heaters market 2019-2023. (Graphic: Business Wire)
Read the 122-page research report with TOC on "Commercial Water Heaters Market Analysis Report by type (electric water heater, gas water heater, solar water heater) and geography (APAC, Europe, MEA, North America, and South America) 2019 2023" at: Request Free Sample Pages
The market is driven by the technological innovations in commercial water heaters. In addition, the increasing demand from the hospitality sector is anticipated to further boost the growth of the market during the forecast period.
Maintaining water heaters is a tedious task for commercial end-users due to their shorter maintenance cycle. Therefore, to reduce the overall maintenance time and increase the efficiency and life span of water heaters, vendors are focusing on improving the performance by adding new features. Some vendors are using monitoring devices and software that can analyze the performance of water heaters. For instance, in April 2018, A.O. Smith launched the iCOMM Connectivity platform for water heaters that aids in remote monitoring and provides essential data regarding the health and performance of the water heater. Moreover, major vendors are also focusing on developing region-specific water heaters that require reduced maintenance and deliver improved performance. Thus, such technological innovations will improve the overall performance of water heaters, and thus drive the global commercial water heaters market growth.
Many global brands of hotels are building new hotels to support tourism, which is leading to an increase in the demand for water heaters. In addition, luxury hotels, shopping centers, entertainment malls, and airports have a huge demand for hot water. The use of electric water heater aids in supplying instant hot while ensuring high cost savings for hotels owners. Therefore, increasing investments in the hospitality sector will drastically increase the demand for commercial water heaters.
For More Information: Request Free Sample Pages
The report includes detailed profiles of the leading companies prominent vendors of the market:
- A. O. Smith Corp.
- Bradford White Corp.
- Haier Electronics Group Co. Ltd.
- Midea Group Co. Ltd.
- Rinnai Corp.
Market Segmentation by Category and Product Types:
The Commercial Water Heater Market can be broadly categorized into the following by type:
- Electric water heater
- Gas water heater
- Solar water heater
Key Regions for the Commercial Water Heater Market:
Featuring a breakdown of region wise market shares until 2019.
- APAC
- Europe
- MEA
- North America
- South America
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Industrials Market are:
Aircraft Engine Compressor Market Global Aircraft Engine Compressor Market by application (commercial and business aircraft and military aircraft) and geography (APAC, Europe, MEA, North America, and South America).
Advanced HVAC Controls Market Global Advanced HVAC Controls Market by product (sensors, field devices, and level controllers), end-users (commercial and residential), and geography (APAC, Europe, MEA, North America, and South America).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190826005361/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
