Commercial Water Heater Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Investments for Expansion of Commercial Sectors
- Favorable Regulations for Using Renewable Energy Sources in Several Applications
Challenges
- High Upfront Cost of Installing Commercial Water Heater
Commercial Water Heater Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.9% |
|
Base Year Market Size (2024) |
USD 7.77 billion |
|
Forecast Year Market Size (2037) |
USD 18.5 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of commercial water heater is evaluated at USD 8.23 billion.
Commercial Water Heater Market size was over USD 7.77 billion in 2024 and is poised to exceed USD 18.5 billion by 2037, witnessing over 6.9% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is likely to account for largest revenue share by 2037, propelled by growing usage of renewable energy and energy efficient products in the region.
The major players in the market are A.O. Smith Corporation, Venus Home Appliances (P) Ltd., Siemens AG., HTP Inc., and others.
