1 Global Steam Water Heater Market Insight Analysis
The global steam water heater market is valued at USD 129.48 million in 2024, with a CAGR of 3.78% from 2024 to 2033.
Steam water heater refers to a water heater that uses steam as a heating medium to provide hot water for hospitals, food, and beverage industrial, schools, buildings and hotels. Common steam water heaters include instantaneous steam water heaters, semi-instantaneous steam water heaters, and storage steam water heaters.
Figure Global Steam Water Heater Market Size (M USD) and CAGR (2024-2033)
2 Steam Water Heater Market Growth Drivers and Restraints
Downstream industry demand growth: The demand for hot water continues to rise in many fields such as hotels, hospitals, food and beverage industries, and schools. In the hotel industry, steam water heaters have the advantage of using steam as a medium to generate hot water, without the need for hotels to invest in expensive pumps and regulators, and can be used well in high-rise buildings with low maintenance costs. The global hotel and resort industry market size continued to expand before the epidemic, and gradually recovered after the epidemic eased, which will drive the continued growth of the steam water heater market size.
In hospitals, each bed is designed to use a large amount of hot water, and the stability and comfort of hot water supply are related to patient recovery. In recent years, the number of hospitals and beds has continued to increase, especially the demand for new hospitals and isolation points during the epidemic, which has further stimulated the demand for steam water heaters in the hospital market. The CIP process of the food and beverage industry, the hot water supply of laboratories and dormitories in schools, etc., have also played a role in promoting the growth of the steam water heater market.
Product technology innovation drive: Companies such as Armstrong, Patterson Kelley, and PVI Industries focus on product research and development innovation. In terms of material use, new materials are constantly explored to improve product efficiency, extend aging time, and enhance impact resistance; in terms of temperature control, advanced technologies are used to achieve more precise regulation. These technological innovations have improved product performance and met the market’s demand for efficient, safe and stable steam water heaters, thereby promoting market growth.
Product quality and production process barriers: The use environment of steam water heaters has extremely high requirements for safety conditions such as waterproofing, moisture-proofing and explosion-proofing, and product quality and safety rely on mature production processes and quality control systems. After years of research and development improvements, the quality of products of leading companies in the industry has been greatly improved, but it is difficult for new companies to form mature production processes and produce high-quality products in the short term, which has become a major obstacle for new companies to enter the market and restrict the further expansion of the market.
Insufficient design and R&D capabilities: Steam water heaters are closely related to the daily lives of downstream customers, and product functions and performance need to be continuously improved to meet the growing needs of customers. This requires manufacturers to have strong R&D and design capabilities. However, building a high-quality R&D and design team requires long-term product production experience, rich product categories and a large number of application cases as support, which constitutes a high threshold for new entrants and hinders the industry’s innovation speed and the diversified development of the market.
Marketing channels and brand building problems: Marketing channels are crucial to the development of steam water heater business, including offline large chain supermarkets and online mainstream e-commerce platforms and self-built platforms of enterprises. Large enterprises have accumulated a lot of experience in sales network and channel construction, and their channels are mature and complete, with long-term cooperative customers and stable consumer groups.
It is difficult for new enterprises to establish and maintain a complete marketing channel, and the existing sales channels in the industry have problems such as low operating efficiency of dealers and agents, which restricts the development of the market. In addition, consumers have a high degree of trust and stickiness in well-known brand products. New enterprises need not only a large amount of publicity investment to build a well-known brand, but also a long period of accumulation. Brand building has become an important obstacle for new enterprises to enter the market.
3 Technological Innovations in the Steam Water Heater Market
Innovation in materials and processes: Companies are constantly innovating in material selection and production processes for steam water heaters. For example, PVI Industries’ Cobrex series steam water heaters use double-wall copper-tube countercurrent heat exchangers, 100% copper and brass, with AquaPLEX corrosion protection technology, and use highly durable AquaPLEX® engineered duplex stainless steel water tanks, which enhance the corrosion resistance of the product, reduce maintenance requirements, and improve the product’s service life and performance.
Intelligent control technology upgrade: Many companies focus on the application of intelligent control technology in steam water heaters. Armstrong’s DIGITAL-FLO® semi-instantaneous water heater has a water temperature control accuracy of ±2°F. It can realize multiple functions through the LCD display, such as displaying set points, water outlet temperature, error codes and alarm conditions, and can also perform BAS and mobile connections for remote monitoring and adjustment, meeting users’ needs for intelligence and convenience.
Expanding business areas: Companies expand their business areas and enhance market competitiveness through mergers and acquisitions. In 2021, Armstrong International acquired Leslie Controls’ industrial control valve and heater product lines. This strategic move enabled Armstrong to expand its customer base and water heater product categories, gain more development opportunities in the global power and process markets, and further consolidate its position in the industry.
Optimizing resource allocation: Mergers and acquisitions help companies optimize resource allocation and achieve coordinated development. In 2021, HEH HOLDINGS LLC acquired RECO USA. The addition of RECO USA strengthened HEH HOLDINGS LLC’s ability to provide larger capacity water heating and storage solutions, enabling it to better meet market demand and enhance the company’s overall competitiveness in the market.
4 Global Steam Water Heater Market Size by Type
Instantaneous steam water heaters are designed to provide hot water immediately at the required temperature. This type is highly efficient and suitable for applications requiring a continuous supply of hot water without the need for storage tanks. In 2024, the market revenue for instantaneous steam water heaters is projected to reach $56.69 million USD. This represents a significant portion of the total market, with a market share of approximately 43.78%.
The growth of this segment is driven by its ability to meet the demands of industries such as hospitals and food and beverage processing, where immediate hot water supply is crucial. The efficiency and reliability of instantaneous heaters make them a preferred choice for applications requiring high water flow rates and consistent temperatures.
Semi-instantaneous steam water heaters are designed for intermittent duty hot water systems. They combine the benefits of immediate hot water supply with a small storage tank to buffer demand. In 2024, the market revenue for semi-instantaneous steam water heaters is expected to be $61.39 million USD, accounting for 47.41% of the total market share.
These heaters are particularly useful in applications where hot water demand fluctuates, such as in schools and hotels. The combination of immediate heating and storage capacity ensures a steady supply of hot water during peak usage periods while maintaining efficiency. The market for semi-instantaneous heaters is driven by the need for reliable and flexible hot water solutions in various commercial and industrial settings.
Storage steam water heaters are equipped with dedicated water storage tanks, allowing them to provide moderate to large quantities of hot water. In 2024, the market revenue for storage steam water heaters is forecasted to be $11.40 million USD, representing a market share of 8.81%.
This type of heater is ideal for applications where a consistent supply of hot water is required over extended periods. Storage heaters are commonly used in buildings and hotels where hot water demand is relatively stable. The storage capacity ensures that hot water is always available, even during periods of high demand. The market for storage heaters is driven by the need for reliable and consistent hot water supply in commercial and residential settings.
Table Global Steam Water Heater Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Instantaneous Steam Water Heater | 56.69 | 43.78% |
Semi-instantaneous Steam Water Heater | 61.39 | 47.41% |
Storage Steam Water Heater | 11.40 | 8.81% |
5 Global Steam Water Heater Market Size by Application
Hospitals are a critical sector in the steam water heater market due to their constant need for hot water in patient care, hygiene, and sterilization processes. In 2024, hospitals are expected to generate a revenue of $34.86 million USD, accounting for 26.93% of the total market share. This significant share underscores the essential role of steam water heaters in healthcare facilities, where reliable and instantaneous hot water supply is non-negotiable.
The food and beverage industry is another major consumer of steam water heaters, primarily for processing and cleaning purposes. In 2024, this sector is projected to contribute $48.19 million USD to the market revenue, representing 37.22% of the total share. The high demand in this sector is driven by the need for consistent temperature control and large volumes of hot water, which steam water heaters can efficiently provide.
Educational institutions, including schools, require steam water heaters for various facilities like cafeterias and laboratories. In 2024, schools are expected to contribute $12.28 million USD to the market revenue, holding a share of 9.49%. The growth in this segment is attributed to the expansion of educational infrastructure and the increasing awareness of the importance of hygiene and food safety.
Commercial buildings and hotels also rely on steam water heaters for domestic hot water supply. In 2024, this application is expected to generate $7.73 million USD, representing 5.97% of the total market share. The demand in this sector is driven by the need for efficient and reliable hot water systems to ensure guest comfort and satisfaction.
Table Global Steam Water Heater Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Hospitals | 34.86 | 26.93% |
Food and Beverage Industrial | 48.19 | 37.22% |
Schools | 12.28 | 9.49% |
Buildings and Hotels | 7.73 | 5.97% |
Others | 26.40 | 20.39% |
6 Global Steam Water Heater Market Size by Region
North America remains the largest market for steam water heaters, driven by the United States and Canada. In 2024, North America is expected to generate a revenue of $53.16 million USD, accounting for 40.9% of the total market share. This region’s dominance is attributed to its advanced industrial infrastructure, high demand for energy-efficient heating solutions, and the presence of key players in the market. The market in North America is expected to continue its growth trajectory, supported by technological advancements and increasing applications in various sectors.
Europe is another significant market for steam water heaters, driven by countries such as Germany, the UK, and France. In 2024, Europe is projected to contribute $38.69 million USD to the market revenue, representing 29.9% of the total market share. The growth in this region is influenced by the need for sustainable and energy-efficient heating solutions. European countries are increasingly adopting advanced technologies to improve energy efficiency and reduce carbon emissions.
The Asia Pacific region is expected to witness substantial growth due to increasing industrialization and urbanization. In 2024, the Asia Pacific market is projected to generate $27.41 million USD, representing 21.1% of the total market share. Key markets include China and Japan, which are driving the demand for steam water heaters due to their expanding industrial sectors and growing demand for efficient heating solutions. The region’s growth is also supported by government initiatives to promote sustainable development and energy efficiency.
Latin America is a growing market, driven by countries such as Brazil, Mexico, and Argentina. In 2024, Latin America is expected to contribute $6.14 million USD to the market revenue, accounting for 4.7% of the total market share. The growth in this region is influenced by the increasing demand for hot water in commercial and industrial sectors. Brazil, in particular, has a significant market presence due to its large industrial base and growing demand for efficient heating solutions.
The Middle East and Africa region is also a growing market, driven by countries such as Turkey and Saudi Arabia. In 2024, this region is projected to generate $4.08 million USD, representing 3.1% of the total market share. The growth in this region is influenced by the increasing demand for hot water in commercial and industrial sectors. Turkey, in particular, has a significant market presence due to its growing industrial sector and demand for efficient heating solutions.
Figure Global Steam Water Heater Market Size (M USD) by Region in 2024
7 Global Steam Water Heater Market Analysis by Major Players
Armstrong
Company Profile: Armstrong> Armstrong International, established in 1900, is a global leader in providing efficient thermal energy solutions. The company operates primarily in the USA but has a worldwide market distribution.
Business Overview: Armstrong> Armstrong is passionate about meeting the needs of future generations by sharing knowledge and working together to achieve universal goals such as saving energy. They own and/or operate utility plants for Fortune 500 energy users, showcasing their commitment to comprehensive energy solutions.
Product Offered: Armstrong> Armstrong offers a range of steam water heaters designed for various applications including hospitals, food and beverage processing, chemistry and refining, and more. Their products are known for high efficiency, reliability, and compliance with industry standards. They also provide consulting, engineering, service, and design and construction of steam and power systems.
TLV
Company Profile: strong> TLV, founded in 1950, is a major player in the manufacture and sales of fluid measurement and control equipment such as steam traps, condensate pumps, and pressure reducing valves. TLV operates mainly in Asia, Europe, and North America.
Business Overview: strong> TLV’s main business involves the manufacture and sales of fluid measurement and control equipment. They also provide consulting, engineering, service, and design and construction of steam and power systems. TLV was honored with the Fiscal Year 2019 Energy Conservation Award for their CES® survey, highlighting their commitment to energy efficiency.
Product Offered: strong> TLV offers a variety of steam water heaters, including steam-fired instantaneous water heaters that are compact, high capacity, and simple to operate. Their products are designed for applications in the food industry, chemical and pharmaceutical manufacturing, as well as building technology.
PVI Industries
Company Profile: strong> PVI Industries, established in 1961, is a leading manufacturer of commercial, institutional, and industrial water heaters. They operate primarily in the USA with a market distribution mainly in North America.
Business Overview: strong> PVI Industries has been manufacturing water heaters since 1961 and now leads the industry with ASME water heaters. Their systems are installed across a wide range of applications and industries, including universities, restaurants, hotels, hospitals, apartments, correctional facilities, military barracks, and more. They offer the industry’s strongest warranty and service policy package for their water heaters.
Product Offered: strong> PVI Industries offers a range of steam water heaters, including the Cobrex Semi-Instantaneous and Storage models. These heaters utilize a double-wall, copper-tube, counter-flow heat exchanger to provide moderate to large amounts of domestic hot water from steam. The products are known for their high durability, precise temperature control, and ease of maintenance.