Commercial Water Heaters Market by Type, Distribution Channel, and Geography - Forecast and Analysis 2023-2027

Published: Feb 2023 Pages: 163 SKU: IRTNTR72598

Commercial Water Heater Market Forecast 2023-2027

The Commercial Water Heater market is forecast to increase by USD 3.06 billion at a CAGR of 5.25% between 2022 and 2027. The growth of the market depends on several factors, including increasing demand from the hospitality sector, technological innovations in commercial equipment for heating water, and growing government initiatives promoting the use of energy-efficient heating. Additionally, the water heater market plays a climactic role in meeting the hot water demands of various residential applications such as washing, bathing, cleaning, and cooking. With the global population on the rise and rapid urbanization leading to changing lifestyles, there's a significant increase in the demand for hot water.

What will be the size of the Market During the Forecast Period?

To learn more about this report, Download Report Sample

Market Segmentation

This report extensively covers market segmentation by type (electric water heater, gas water heater, and solar water heater), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By Type

The market share growth of the electric water heater segment will be significant during the forecast period. It has long been used in the Commercial heater sector for heating water. Although they have reached their maturity stage, ongoing innovations in tankless or instantaneous products have revived the market. Furthermore, using electric type is much more cost-effective than using gas as a combustion fuels for heating water.

Get a glance at the market contribution of various segments Request a PDF Sample

The electric water heater segment was valued at USD 4,913.09 million in 2017 and continued to grow until 2021. The lower maintenance cost of compared with gas, coupled with benefits such as flexibility in installation in existing infrastructure, has increased the adoption of these products in commercial buildings. Tankless or instantaneous electric products are ideal for commercial spaces that have space constraints. All such factors drive the growth of electric ones in the commercial sector. 

Market Dynamic

The increasing demand from the hospitality sector is notably driving the market growth, although factors such as technical challenges associated with the product may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, market trends and analysis, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Driver

The increasing demand from the hospitality sector is notably driving market growth. Water heaters in commercial facilities are installed in a large number of bathrooms and the frequency of hot water used is also high. As a result, the energy savings from Water heaters in commercial facilities are higher than in residential buildings. 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 it in the hospitality sector.

The global increase in tourism is driving the luxury hotel segment. As a result, many global luxury hotel brands are building new hotels to support tourism. Such developments have increased the demand for it in luxury hotels. In addition, luxury hotels, shopping, and entertainment centers, airports, etc. require large amounts of hot water, so the use of electric type not only provides instantaneous water heating but also contributes to significant cost reductions for hotel owners. Hence, increasing investment in hospitality will significantly increase the demand during the forecast period. 

Significant Trends

Increasing demand for hybrid devices is the key trend in the market. The energy sources used by equipment include solar, propane, oil, and electricity for heating water. However, hybrid devices, also called heat pump water heaters, make use of surrounding hot air and transfer the heat to an enclosed water tank. In the case when there is high hot water demand, the equipment automatically switches to a standard resistant electric heating mode.

Hybrid devices can overcome the drawbacks of conventional gas and solar equipment as they use limited energy to heat water. Such features make hybrid equipment more energy-efficient than standalone solar or gas water heaters. In addition, hybrid equipment has features, such as timer mode, which saves energy when the equipment is ideal for a longer period of time. Such factors will increase the demand for hybrid equipment during the forecast period.

Major Challenge

Technical challenges associated with the products are impeding market growth. The limited lifespan and the risk of explosion in gas equipment are the challenges that hinder the sales of commercial equipment. In the case of gas equipment, leakage in the tank, pipes, or valves, mainly due to high gas pressure, can cause an explosion. Though the commercial sector uses equipment for high-capacity water heating applications, the scope of use of such systems is dependent on the laws and regulations in the country in which the heaters are deployed.

Additionally, governments of various countries are imposing strict guidelines on the production of gas and propane water heaters due to the increased risk of explosion. Failure to adhere to such guidelines will result in large-scale product recalls. All these factors are likely to have a significant impact on sales of gas equipment during the forecast period and the revenues of key vendors in the global commercial equipment market. 

Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Solahart Industries Pty Ltd. - The company offers such as DemandDuo, Tankless Water Heaters as its key offerings. The segment focuses on manufacturing heat equipment such as solar hot systems, thermosiphon roof-mounted systems, synergy heat pumps, streamlined split systems, and central storage collectors.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • Daikin Industries Ltd.
  • Electric Heater Co.
  • Ferroli Spa
  • Guangdong Vanward New Electric Co. Ltd.
  • Hangzhou Kangquan Water Heater Co. Ltd.
  • MIDEA Group
  • Noritz Corp.
  • Rheem Manufacturing Co.
  • Rinnai Corp.
  • STIEBEL ELTRON GmbH and Co. KG
  • Vaillant Group
  • Viessmann Climate Solutions SE
  • Watts Water Technologies Inc.
  • Jaquar Group
  • Robert Bosch GmbH

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Which are the Key Regions for the Market?

For more insights on the market share of various regions Request PDF Sample now!

APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC was the largest contributing region in the global market and is expected to remain the same during the forecast period. The increase in infrastructure spending on commercial projects drives the demand for water heaters in APAC. The rise in the number of smart city projects in Asia is contributing to the growth of the commercial real estate sector, thereby augmenting the demand for during the forecast period. Most infrastructure projects are targeted at developing roads and bridges, with significant investment in airports, seaports, railways, mass transit, and the development of new cities. For instance, India has planned to invest USD 4.9 billion in infrastructure projects during 2023-2024. Furthermore, smart cities use communication and automation technologies for their smart buildings, which would contribute to the growth of smart water heaters in APAC during the forecast period.

Market Analyst Overview

The market for energy-efficient water heating equipment is witnessing significant growth driven by the rising demand for smart and modern solutions. With a focus on efficiency improvements, manufacturers are introducing region-specific equipment designed to meet the needs of diverse markets. Instant heating technologies and on-demand heating units are gaining popularity due to their higher efficiency and larger flow rates, catering to both residential and commercial sectors.

The heat transfer process to considering factors like power capacity and storage capacity, manufacturers tailor solutions to suit different requirements. Fuel type is a crucial consideration, especially amidst concerns over the energy crisis. Increasingly, attention is turning towards renewable sources to mitigate energy consumption and reduce environmental impact. For commercial settings such as public buildings, offices, motels, and commercial laundries has initiatives for solar water heating Insulation and green building systems are gaining traction. with efficient water heating installations are imperative to manage commercial water usage and minimize building energy consumption. Technologies such as tank-less heaters and gas-powered heaters are favored for their cost-effectiveness and reliability, with considerations including installation costs, maintenance costs, and lifetime expenses.

Commercial water heater market share is also seeing an uptick, fueled by mandates promoting energy efficiency and product penetration. Businesses and consumers are increasingly adopting energy-efficient equipment  and less environmental impact to reduce electricity bills and comply with regulatory norms and policies aimed at reducing carbon footprint. Moreover, green building projects and stringent building codes and standards further bolster the demand for energy-efficient systems and less greenhouse gas emissions. Integrated remote monitoring and automatic control systems are becoming essential features in modern water heating equipment, allowing users to optimize energy usage and enhance overall efficiency. As the emphasis on sustainability grows and sustainable options, the market for energy-efficient water heating solutions is poised for continued expansion, driven by technological advancements and evolving consumer preferences.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Type Outlook (USD Million, 2017 - 2027)
    • Electric water heater
    • Gas water heater
    • Solar water heater
  • Application Outlook (USD Million, 2017 - 2027)
    • Offline 
    • Online
  • Region Outlook (USD Million, 2017 - 2027)
    • APAC
      • China
      • India
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • North America
      • The U.S.
      • Canada
    • South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

 Market Scope

Report Coverage

Details

Page number

163

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.25%

Market growth 2023-2027

USD 3,068.01 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.48

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 49%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

A. O. Smith Corp., AB Electrolux, Ariston Holding NV, Bradford White Corp., Daikin Industries Ltd., Electric Heater Co., Ferroli Spa, Guangdong Vanward New Electric Co. Ltd., Hangzhou Kangquan Water Heater Co. Ltd., MIDEA Group, Noritz Corp., Rheem Manufacturing Co., Rinnai Corp., Solahart Industries Pty Ltd., STIEBEL ELTRON GmbH and Co. KG, Vaillant Group, Viessmann Climate Solutions SE, Watts Water Technologies Inc., Jaquar Group, and Robert Bosch GmbH

Market dynamics

Parent market analysis, Market Forecasting , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our market research and growth report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request PDF sample

What are the Key Data Covered in this Commercial Water Heater Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market growth and trends and changes in consumer behavior
  • Growth of the industry across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive market growth analysis of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this market report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global commercial water heaters market 20217 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global commercial water heaters market 20217 - 2021 ($ million)
    • 4.2 Type Segment Analysis 20217 - 2021
      • Exhibit 19: Historic Market Size – Type Segment 20217 - 2021 ($ million)
    • 4.3 Distribution channel Segment Analysis 20217 - 2021
      • Exhibit 20: Historic Market Size – Distribution channel Segment 20217 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 20217 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 20217 - 2021 ($ million)
    • 4.5 Country Segment Analysis 20217 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 20217 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Electric water heater - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Electric water heater - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Electric water heater - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Electric water heater - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Electric water heater - Year-over-year growth 2022-2027 (%)
    • 6.4 Gas water heater - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Gas water heater - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Gas water heater - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Gas water heater - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Gas water heater - Year-over-year growth 2022-2027 (%)
    • 6.5 Solar water heater - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Solar water heater - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Solar water heater - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Solar water heater - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Solar water heater - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Type
      • Exhibit 46: Market opportunity by Type ($ million)

    7 Market Segmentation by Distribution Channel

    • 7.1 Market segments
      • Exhibit 47: Chart on Distribution Channel - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on Distribution Channel - Market share 2022-2027 (%)
    • 7.2 Comparison by Distribution Channel
      • Exhibit 49: Chart on Comparison by Distribution Channel
      • Exhibit 50: Data Table on Comparison by Distribution Channel
    • 7.3 Offline - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Offline - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Offline - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Offline - Year-over-year growth 2022-2027 (%)
    • 7.4 Online - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Distribution Channel
      • Exhibit 59: Market opportunity by Distribution Channel ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 India - Market size and forecast 2022-2027
      • Exhibit 93: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 Japan - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 A. O. Smith Corp.
              • Exhibit 112: A. O. Smith Corp. - Overview
              • Exhibit 113: A. O. Smith Corp. - Business segments
              • Exhibit 114: A. O. Smith Corp. - Key offerings
              • Exhibit 115: A. O. Smith Corp. - Segment focus
            • 12.4 Ariston Holding NV
              • Exhibit 116: Ariston Holding NV - Overview
              • Exhibit 117: Ariston Holding NV - Product / Service
              • Exhibit 118: Ariston Holding NV - Key news
              • Exhibit 119: Ariston Holding NV - Key offerings
            • 12.5 Bradford White Corp.
              • Exhibit 120: Bradford White Corp. - Overview
              • Exhibit 121: Bradford White Corp. - Product / Service
              • Exhibit 122: Bradford White Corp. - Key offerings
            • 12.6 Daikin Industries Ltd.
              • Exhibit 123: Daikin Industries Ltd. - Overview
              • Exhibit 124: Daikin Industries Ltd. - Business segments
              • Exhibit 125: Daikin Industries Ltd. - Key news
              • Exhibit 126: Daikin Industries Ltd. - Key offerings
              • Exhibit 127: Daikin Industries Ltd. - Segment focus
            • 12.7 Electric Heater Co.
              • Exhibit 128: Electric Heater Co. - Overview
              • Exhibit 129: Electric Heater Co. - Product / Service
              • Exhibit 130: Electric Heater Co. - Key offerings
            • 12.8 Ferroli Spa
              • Exhibit 131: Ferroli Spa - Overview
              • Exhibit 132: Ferroli Spa - Product / Service
              • Exhibit 133: Ferroli Spa - Key offerings
            • 12.9 Guangdong Vanward New Electric Co. Ltd.
              • Exhibit 134: Guangdong Vanward New Electric Co. Ltd. - Overview
              • Exhibit 135: Guangdong Vanward New Electric Co. Ltd. - Product / Service
              • Exhibit 136: Guangdong Vanward New Electric Co. Ltd. - Key offerings
            • 12.10 Hangzhou Kangquan Water Heater Co. Ltd.
              • Exhibit 137: Hangzhou Kangquan Water Heater Co. Ltd. - Overview
              • Exhibit 138: Hangzhou Kangquan Water Heater Co. Ltd. - Product / Service
              • Exhibit 139: Hangzhou Kangquan Water Heater Co. Ltd. - Key offerings
            • 12.11 Jaquar Group
              • Exhibit 140: Jaquar Group - Overview
              • Exhibit 141: Jaquar Group - Product / Service
              • Exhibit 142: Jaquar Group - Key offerings
            • 12.12 MIDEA Group
              • Exhibit 143: MIDEA Group - Overview
              • Exhibit 144: MIDEA Group - Business segments
              • Exhibit 145: MIDEA Group - Key offerings
              • Exhibit 146: MIDEA Group - Segment focus
            • 12.13 Noritz Corp.
              • Exhibit 147: Noritz Corp. - Overview
              • Exhibit 148: Noritz Corp. - Business segments
              • Exhibit 149: Noritz Corp. - Key offerings
              • Exhibit 150: Noritz Corp. - Segment focus
            • 12.14 Rheem Manufacturing Co.
              • Exhibit 151: Rheem Manufacturing Co. - Overview
              • Exhibit 152: Rheem Manufacturing Co. - Product / Service
              • Exhibit 153: Rheem Manufacturing Co. - Key offerings
            • 12.15 Rinnai Corp.
              • Exhibit 154: Rinnai Corp. - Overview
              • Exhibit 155: Rinnai Corp. - Business segments
              • Exhibit 156: Rinnai Corp. - Key offerings
              • Exhibit 157: Rinnai Corp. - Segment focus
            • 12.16 Robert Bosch GmbH
              • Exhibit 158: Robert Bosch GmbH - Overview
              • Exhibit 159: Robert Bosch GmbH - Business segments
              • Exhibit 160: Robert Bosch GmbH - Key news
              • Exhibit 161: Robert Bosch GmbH - Key offerings
              • Exhibit 162: Robert Bosch GmbH - Segment focus
            • 12.17 Solahart Industries Pty Ltd.
              • Exhibit 163: Solahart Industries Pty Ltd. - Overview
              • Exhibit 164: Solahart Industries Pty Ltd. - Product / Service
              • Exhibit 165: Solahart Industries Pty Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 166: Inclusions checklist
                • Exhibit 167: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 168: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 169: Research methodology
                • Exhibit 170: Validation techniques employed for market sizing
                • Exhibit 171: Information sources
              • 13.5 List of abbreviations
                • Exhibit 172: List of abbreviations
              • adoption of automation in manufacturing the process: The requirement of automation has evolved multifold in the industrial environment. The automation solutions have improved from the implementation of fixed automation to the current flexible and integrated automation, which enables end-users to integrate various processes into a single closed solution. The need to address optimization of processes, extend the level of autonomous processes, continuous monitoring and control of process parameters and safety concerns are driving the implementation of flexible automation solutions in the process and discrete industries.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                INFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases

                DATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts

                REPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape

                PURCHASE FULL REPORT OF

                commercial water heaters market

                QUICK BUY

                Key Questions Answered

                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?

                Why should you prefer Technavio's market insights report?

                • Off-the-shelf research reports
                • Reports can be tailored to meet the customer's needs
                • Trusted by more than 100 fortune 500 organizations
                • Information about the market's key drivers, trends, and challenges
                • Parent market analysis
                • Every week, 50,000 people visit our subscription platform
                • Detailed vendors report with competitive landscape
                • Covid-19 impact and recovery analysis
                • Data on revenue-generating market segments
                • Details on the market shares of various regions
                • Five-force market analysis