According to the research report titled ‘U.S. Commercial Water Heater Market Size By Product (Instant [Electric, Gas], Storage [Electric {< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}, Gas{< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters}]), By Capacity (< 30 Liters, 30-100 Liters, 100-250 Liters, 250-400 Liters, > 400 Liters), By Application (Commercial [College/University, Office, Government/Military]), By Energy Source (Electric, Gas{Natural Gas, LPG})Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the U.S. commercial water heater market was worth USD 65 million in 2018 and is projected to record an annual installation of over 390,000 units by the year 2025.
 

Robust expansion of construction sector, coupled with numerous smart city development projects are the major factors driving U.S. commercial water heater market growth. Escalating investments from local and state authorities is compelling key industry players to develop energy efficient water heating systems. This factor, along with harsh climatic conditions in U.S. is propelling the popularity of the commercial water heaters in the country.
 

Strict government reforms to reduce carbon footprint and favorable federal initiatives which encourage adoption of power-saving water heating systems are aiding the market expansion. Technological advancements have paved the way for innovative heating systems having wi-fi integrability, remote operability, and digital automation. Moreover, growing tourism, hospitality, and healthcare industry are fostering the demand for efficient water heating systems across commercial applications.
 

As per product type, U.S. commercial water heater market is categorized into instant and storage. Based on application spectrum, the market is divided into government/military, office, and college/university, whereas, on the basis of energy source, the industry is classified into gas and electric, in which gas segment is further bifurcated into LPG and natural gas.
 

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Considering geographical landscape, East North Central market is expected to grow substantially over the forecast period, owing to favorable federal initiatives which promote local industry players, surging need for hot water, and robust expansion of small cooperatives across Michigan and other areas.
 

The prominent companies operating in U.S. commercial water heater market are Bradford White, Rheem Manufacturing, Ariston Thermo, A.O. Smith, Rinnai Corp., Whirlpool Corp., Haier Electronics, General Electric Appliances, and Bosch Thermotechnology among others.