Commercial Water Heater Market Size

Commercial Water Heater Market size was over USD 7.77 billion in 2024 and is poised to exceed USD 18.5 billion by 2037, witnessing over 6.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of commercial water heater is evaluated at USD 8.23 billion.

The growth of the market can be attributed to the increasing investments for the expansion of commercial sectors, and favorable regulations and grants for using renewable energy sources in several applications. Along with these, growing integration of commercial water heater with new-age technologies to ensure ease of operations and maintenance, is projected to offer profitable opportunities to the market in the upcoming years. Furthermore, rising requirement of heated water for several processes in facilities such as institutional living quarters, sewage treatment plants, holiday homes, commercial complexes, shopping malls, is also expected to drive market growth in the near future.