Selbyville, Delaware, June 13, 2022 (GLOBE NEWSWIRE) —
Heat Pump Water Heater Market was valued above USD 2.5 billion in 2021, according to latest study by Global Market Insights Inc. The increasing power demand across residential & commercial buildings along with the adoption of innovative and clean water heating technology to reduce the overall carbon footprint is set to positively propel the business scenario.
>100 – ≤200 gallons capacity HPWHs are anticipated to witness a surge in demand on account of their growing application across large commercial buildings. Favorable government incentives & policies to promote energy-efficient and clean technologies for hospitals, educational buildings, and other commercial establishments will boost technology acceptance globally. Increasing efforts to replace conventional boilers and water heater units to reduce the overall carbon emission from heating & cooling appliances will further stimulate high-capacity systems requirements.
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The heat pump water heater market across the commercial sector will observe above 7% growth from 2022 to 2030 owing to growing investments in infrastructure development. The worldwide governments are readily investing in deploying hospitals, educational centers, retail stores, and offices to tackle the increased demand for their services. In addition, the growing urge for hot water in hotels and…
