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The global electric water heaters market is expected to reach USD 29.32 billion by 2022, according to a new study by Grand View Research, Inc. Increasing residential and commercial projects worldwide is expected to drive market demand over the forecast period.
Increasing government initiatives to improve rural infrastructure and uninterrupted electricity availability in these areas is expected to provide new opportunities to market growth.
They are also increasingly used in countries with limited or broken electricity supply as they can store hot water for future use.
Commercial water heaters can be glass lined, stainless steel lined, cement and hydrastine cement lined.
Rapid infrastructure developments in these countries are expected to favor the Asia Pacific electric water heaters market.
However, increasing trend for use of solar water heater may restrict market demand gradually over the next seven years.
The global Commercial Water Heater Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the commercial water heater market include A.O Smith, Bradford white Corpration, Whirlpool Corporation, Bosch Thermotechnology, Ferroli, State water heaters, Rinnai Corporation, Rheem Manufacturing, Noritz Corporation, Ariston Thermo, and Haier Electronics.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Commercial Water Heater Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/commercial-water-heater-market/download-sampleMarket DynamicsThe increasing investment in the commercial sector for development and expansion is the key factor fuelling the demand for the commercial water heater.
Key players investing in research and development activities, integrating new technologies, and coming up with modern commercial water heater that suits the requirements of the consumers will stimulate market growth.
However, the Covid-19 pandemic has negatively impacted the market due to supply shortages caused due to restrictions and lockdown imposed by various governments.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.