Report Description
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.
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.
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