Asia Pacific Commercial Water Heater Market size surpassed USD 2.4 Billion in 2019 and is anticipated to register a 4.7% CAGR from 2020 to 2026.

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The market growth is on account of growing development of large-scale commercial establishments coupled with innovative product advancements including compact & space-efficient product designs. Rising consumer demand toward on demand supply of hot water across hotels, hospitals and other establishments will strengthen the industry outlook.

Increasing investment programs aimed at developing smart city projects coupled with strict norms for installation of efficient heating systems will encourage the product penetration. Ability to reduce the electricity bills, easy installation along with environment protection standards for limiting the carbon emissions from conventional heating systems is set to stimulate the mass product adoption.

The COVID-19 novel virus outbreak has brought the global economy to a standstill, leading to lockdown implementation by various countries along with a halt in the trade activities. The virus traces were first discovered in the Wuhan province of China, thereby leading it to become a global health pandemic. However, several manufacturers are formulating strategies and focusing on infrastructure developments to combat the virus which will propel the industry landscape.

Instant is anticipated to grow owing to lower standby losses, higher energy efficiency and its ability to significantly reduce the electricity bills and operating costs. Low power consumption, availability of multiple usage points and point of use application coupled with active measures taken by the industry players toward new advanced product development will further influence the product penetration.

Urban migration owing to growing dispensable incomes along with ongoing rural electrification projects across the developing nations will augment the electric commercial water heater market share. Rapid expansion of zero emission buildings together with development of modern appliances with key features including Wi-Fi connectivity, advance leakage detection & control system, and integrated IoT technologies will further complement the business landscape.

Growing tourism, increasing hot water consumption along with expansion of industrial & commercial infrastructure is set to accelerate the Thailand water heater market growth. Rising product penetration of commercial heating units on account of availability of wide range of capacity variants will augment the business landscape.

Government policies aiming at zero carbon footprint along with increasing investments by private organizations toward the development of commercial establishments will strengthen the industry landscape. Strategic measures including product differentiation and technological development will boost the product adoption.

Japan commercial water heater market is anticipated to grow on account of rising living standards of the consumers coupled with rising awareness toward smart heating appliances. Shifting consumer focus toward energy efficient devices coupled with growing technological advancements consisting of smart and user-friendly communication interface will propel the business scenario.

Eminent players across the market include Rinnai Corporation, Linuo Ritter, Bradford White, Ferroli, A.O Smith, Bosch Thermotechnology, Jaquar, Rheem Manufacturing, Hubbell Incorporated and Whirlpool.