U.S. Commercial Water Heater Market Size By Product (Instant, Storage), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), By Energy Source (Electric, Gas {Natural Gas, LPG}) By Application (College/University, Office,

U.S. Commercial Water Heater Market Size By Product (Instant, Storage), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), By Energy Source (Electric, Gas {Natural Gas, LPG}) By Application (College/University, Office, Government/Military, Others), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The U.S. commercial water heater market is expected to grow at an exponential rate through 2030 owing to prevalent demand for innovative and sustainable heating solutions in the region.

Recently, major industry players have been increasingly investing in their R&D operations to enhance their business presence. Moreover, partnerships among key companies for overseas expansion have been beneficial for market growth. Furthermore, firms in the commercial water heater sector are also working towards forming strategic alliances to expand their product offerings, thereby improving U.S. commercial water heater market dynamics.

For instance, in April 2022, Enginuity Power Systems, Inc., a leading industry player dealing in water heaters, storage tanks, and boilers, signed a strategic development agreement with White Corporation, a U.S.-based manufacturer of commercial and residential, and industrial heating systems Bradford. The firms collaborated to work on a private generation combined heat & power water heater solution using Enginuity's patented energy-efficient ICE (internal combustion engine) to run an electric generator as well as to heat water by leveraging a customized Bradford White water tank.

The U.S. commercial water heater market has been segmented in terms of product, energy source, capacity, application, and region.

Based on capacity, the industry has been classified into <30 liters, 30 - 100 liters, 100 - 250 liters, 250 - 400 liters, and >400 liters. The <30 liters segment is slated to grow at a substantial CAGR of around 7.0% through 2030. The >400 liters segment is set to register significant growth to be valued at over $127 million through the forecast period.

With respect to application, the U.S. commercial water heater market has been divided into college/university, office, government/military, and others. The others segment is anticipated to grow at a robust rate of approximately 9.0% over the review timeline.

From the regional standpoint, the U.S. commercial water heater industry spans the geographies of West South Central, East North Central, North East, South Atlantic, East South Central, Pacific States, West North Central, and Mountain States. The East North Central garnered more than $133 million in revenue in 2021 and is primed to exhibit steady growth in the forthcoming years.

Meanwhile, the West South Central commercial water heater industry is set to witness tremendous growth over the projected timespan owing to continuous product innovation. The East South Central sector is estimated to expand at a sturdy rate through the review timeline due to stringent regulations promoting the reduction in carbon footprint.

The West North Central is primed to attain a notable revenue share in the U.S. commercial water heater market by the end of the forecast period on account of increasing demand pertaining to effective heating systems. The Mountain States region exceeded a valuation of $35 million in 2021 and is slated to record an impressive growth rate between 2022 and 2030.