In recent years, the demand for sophisticated water heating systems has grown. Hot water is required for commercial as well residential applications, including cleaning, washing, cooking, patient hygiene (in hospitals), etc.
Companies like Bradford White and Daikin continually seek to produce modern and technologically advanced products to meet consumer demand for energy-efficient and environmentally friendly devices. For instance, Bradford White claims that its models such as AeroTherm® Heat Pump Water Heater, Infiniti® K Series tankless water heaters and eF Series® gas water heaters are designed to save energy and money. Likewise, Daikin maintains that the company’s offerings deliver cost-effective heating solutions for residential and commercial settings.
According to analysts, the global water heater market is likely to be driven by demand for hot water from commercial and residential sectors. Tankless water heaters are gaining popularity in small commercial buildings like eating joints, while being more common in residential applications.
Sophisticated tankless water heaters are expected to boost the market during the period 2022-2027 owing to benefits including enhanced efficiency, better life, decreased time to dispense hot water, less required space, and increased safety.
Heat pump water heaters could be considerably more energy-efficient than standard electric resistance water heaters. Although initial costs in installing pump water heater systems might be relatively high, these could be offset by the system’s lower operating costs. Further, heat pump water heaters offer more heat while consuming the same amount of power as that utilized by standard electric storage water heaters. These factors may be behind heat pump water heaters gaining prominence.
Key Findings of the Report:
Market Analysis by Product, Technology, Capacity, Application, and Region:
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