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Commercial Water Heaters Market by Type and Geography - Global Forecast and Analysis 2019-2023

Global Commercial Water Heaters Market:

About this market

Technavio’s commercial water heaters market analysis considers sales from the electric water heater, gas water heater, and solar water heater. Our analysis also considers the sales of commercial water heaters in APAC, Europe, MEA, North America, and South America. In 2018, the electric water heater market segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing government regulations on energy efficiency and lower maintenance cost will play a significant role in the electric water heater chocolate segment to maintain its market position. Also, our global commercial water heaters market report looks at factors such as increasing demand from the hospitality sector, technological innovations in commercial water heaters, and growing government initiatives promoting the use of energy-efficient heating solutions. However, high installation and maintenance cost, increasing market competition, and technical challenges associated with the product may hamper the growth of the commercial water heaters industry over the forecast period.

Global Commercial Water Heaters Market: Overview

Increasing demand from the hospitality sector

The energy savings from water heaters in commercial spaces are higher than residential buildings because they are installed in many bathrooms as well as the frequency of hot water use is also high. As the frequency of use is high in establishments such as hospitals, hotels, and airports, every watt of energy saved while heating water gets multiplied. So, high energy savings, coupled with increasing investments in new hotels, are key driving factors for the adoption of water heaters in the hospitality sector. This demand from the hospitality sector will lead to the expansion of the global commercial water heaters market at a CAGR of over 5% during the forecast period.

Increasing demand for hybrid water heaters

Water heaters mainly use solar, propane, oil, and electricity as an energy source for heating water. However, hybrid water heaters also called as heat pump water heaters, make use of surrounding hot air, and transfer the heat to an enclosed water tank. Hybrid water heaters can overcome the drawbacks of conventional gas and solar water heaters as they use limited energy to heat water. Such features make hybrid water heaters more energy-efficient than standalone solar or gas water heaters. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global commercial water heaters market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global commercial water heaters market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading commercial water heaters manufacturers, that include A. O. Smith Corp., Bradford White Corp., Haier Electronics Group Co. Ltd., Midea Group Co. Ltd., and Rinnai Corp.

Also, the commercial water heaters analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
  • Preface
    • Table Product overview
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global electrical equipment market
      • Table Segments of global electrical equipment market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by type
    • Table Type - Market share 2018-2023 (%)
    • Comparison by type
      • Table Comparison by type
    • Electric water heater - Market size and forecast 2018-2023
      • Table Electric water heater - Market size and forecast 2018-2023 ($ millions)
      • Table Electric water heater - Year-over-year growth 2019-2023 (%)
    • Gas water heater - Market size and forecast 2018-2023
      • Table Gas water heater - Market size and forecast 2018-2023 ($ millions)
      • Table Gas water heater - Year-over-year growth 2019-2023 (%)
    • Solar water heater - Market size and forecast 2018-2023
      • Table Solar water heater - Market size and forecast 2018-2023 ($ millions)
      • Table Solar water heater - Year-over-year growth 2019-2023 (%)
    • Market opportunity by type
      • Table Market opportunity by type
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table Degree of urbanization 2016
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Rising initiatives for energy-efficient commercial buildings
    • Increasing demand for smart and connected devices
    • Increasing demand for hybrid water heaters
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • A. O. Smith Corp.
      • Table A. O. Smith Corp. - Vendor overview
      • Table A. O. Smith Corp. - Organizational developments
      • Table A. O. Smith Corp. - Geographic focus
      • Table A. O. Smith Corp. - Key offerings
    • Bradford White Corp.
      • Table Bradford White Corp. - Vendor overview
      • Table Bradford White Corp. - Organizational developments
      • Table Bradford White Corp. - Key offerings
    • Haier Electronics Group Co. Ltd.
      • Table Haier Electronics Group Co. Ltd. - Vendor overview
      • Table Haier Electronics Group Co. Ltd. - Business segments
      • Table Haier Electronics Group Co. Ltd. - Organizational developments
      • Table Haier Electronics Group Co. Ltd. - Geographic focus
      • Table Haier Electronics Group Co. Ltd. - Segment focus
      • Table Haier Electronics Group Co. Ltd. - Key offerings
    • Midea Group Co. Ltd.
      • Table Midea Group Co. Ltd. - Vendor overview
      • Table Midea Group Co. Ltd. - Business segments
      • Table Midea Group Co. Ltd. - Organizational developments
      • Table Midea Group Co. Ltd. - Geographic focus
      • Table Midea Group Co. Ltd. - Segment focus
      • Table Midea Group Co. Ltd. - Key offerings
    • Rinnai Corp.
      • Table Rinnai Corp. - Vendor overview
      • Table Rinnai Corp. - Product segments
      • Table Rinnai Corp. - Organizational developments
      • Table Rinnai Corp. - Geographic focus
      • Table Rinnai Corp. - Segment focus
      • Table Rinnai Corp. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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