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Hot Water Recirculation Pump Market Overview
The hot water recirculation pump market has gained huge interest from commercial, industrial and residential sectors in recent years, leading to the growth in investments for the research & development of the latest recirculation systems. Hot water recirculation pumps are thoroughly helping wide range of sectors in trimming energy costs, and saving time and water.
The hot water recirculation pump market is also gaining traction due to rapid increase in the implementation of regional codes and standards for effective energy utilization and optimization. Further, in order to progress in the global hot water recirculation pump market, major players operating in this market are looking to recognize the plumbing necessities and improve factors pertaining to design, development and installation stages, thereby bolstering the growth of global market.
Hot water recirculation pump runs hot water through faucet or shower when required. Traditional water heaters require quite a few minutes before delivering hot water from the faucet, depending upon the size of home and distance of plumbing pipes.
On the contrary, these pumps create a closed loop that flows the water through hot water pipes, back into the water heater for reheating, instead of leasing this water down the drain. Such pumps save water, time and also, energy in some situations. They require electricity to operate but the electricity consumption can be abridged by electing a circulation pump that operates from a timer. Increasing focus on energy conservation, globally is one of the major factors likely to drive the growth of hot water recirculation pump market.
Some of the hot water recirculation systems available in the market include traditional, instant and on-demand systems. Traditional pumps have an exclusive return line for hot water plumbing that goes from the farthermost restroom to the water heater. Instant pumps do not necessitate a dedicated return loop for hot water. On-demand systems are analogous to the instant one, the only difference between these two is that on-demand systems involve the user to stimulate the pump when hot water is required rather than operating constantly or at pre-set timed intervals.
Hot Water Recirculation Pump Market Dynamics
The hot water recirculation pump market is chiefly driven by increasing incorporation of IoT in homes, rising focus on resource efficiency and climate change, and increasing implementation of regional codes and standards across geographies. However, a roadblock to the growth of global hot water recirculation pump market includes lack of awareness regarding potential benefits of these systems.
Rising Focus on Resource Efficiency and Climate Change Bolstering Market Growth
The research states that the rising focus on resource efficiency and climate change is one of the prime factors for the growth of hot water recirculation industry. These resource efficiency initiatives are not exclusively intended to help the environment, they have strategic goals as well, such as national security, job creation, and the positioning of domestic markets. These pumps are being considered as energy and water efficient systems, since they only circulate water when its actually needed. These systems waste far less energy than the conventional water heaters and reduce greenhouse gas emissions. Mandatory standards on efficient energy usage are continuously increasing in greater numbers, which is likely to propel hot water recirculation pump market in near future.
Hot Water Recirculation Pump Market Competitiveness
Players in the hot water recirculation pump market are more focused on enhancing their product and service offerings. In order to compete with peers, the global market is witnessing many new product launches from hot water recirculation pump, including more energy efficient product versions. Some of the prominent players operating in the global hot water recirculation industry are Danfoss, Grundfos, NIBE, Taco Comfort Solutions, Xylem, A. O. Smith, Advanced Conservation Technology Distribution, Inc., Airwell, Anderson-Barrows Metals Corporation, and Armstrong Fluid Technology.