Table of Content 1 Market Overview 1.1 Product Definition and Market Characteristics 1.2 Global Commercial Water Heaters Market Size 1.3 Market Segmentation 1.4 Global Macroeconomic Analysis 1.5 SWOT Analysis 2. Market Dynamics 2.1 Market Drivers 2.2 Market Constraints and Challenges 2.3 Emerging Market Trends 2.4 Impact of COVID-19 2.4.1 Short-term Impact 2.4.2 Long-term Impact 3 Associated Industry Assessment 3.1 Supply Chain Analysis 3.2 Industry Active Participants 3.2.1 Suppliers of Raw Materials 3.2.2 Key Distributors/Retailers 3.3 Alternative Analysis 3.4 The Impact of Covid-19 From the Perspective of Industry Chain 4 Market Competitive Landscape 4.1 Industry Leading Players 4.2 Industry News 4.2.1 Key Product Launch News 4.2.2 M&A and Expansion Plans 5 Analysis of Leading Companies 5.1 Haier Electronics Group 5.1.1 Haier Electronics Group Company Profile 5.1.2 Haier Electronics Group Business Overview 5.1.3 Haier Electronics Group Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.1.4 Haier Electronics Group Commercial Water Heaters Products Introduction 5.2 AO Smith Corp. 5.2.1 AO Smith Corp. Company Profile 5.2.2 AO Smith Corp. Business Overview 5.2.3 AO Smith Corp. Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.2.4 AO Smith Corp. Commercial Water Heaters Products Introduction 5.3 Rinnai 5.3.1 Rinnai Company Profile 5.3.2 Rinnai Business Overview 5.3.3 Rinnai Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.3.4 Rinnai Commercial Water Heaters Products Introduction 5.4 Bradford White Corp 5.4.1 Bradford White Corp Company Profile 5.4.2 Bradford White Corp Business Overview 5.4.3 Bradford White Corp Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.4.4 Bradford White Corp Commercial Water Heaters Products Introduction 5.5 Bajaj Electricals Ltd 5.5.1 Bajaj Electricals Ltd Company Profile 5.5.2 Bajaj Electricals Ltd Business Overview 5.5.3 Bajaj Electricals Ltd Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.5.4 Bajaj Electricals Ltd Commercial Water Heaters Products Introduction 5.6 Siemens AG 5.6.1 Siemens AG Company Profile 5.6.2 Siemens AG Business Overview 5.6.3 Siemens AG Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.6.4 Siemens AG Commercial Water Heaters Products Introduction 5.7 Bradford White 5.7.1 Bradford White Company Profile 5.7.2 Bradford White Business Overview 5.7.3 Bradford White Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.7.4 Bradford White Commercial Water Heaters Products Introduction 5.8 Rheem Manufacturing Co 5.8.1 Rheem Manufacturing Co Company Profile 5.8.2 Rheem Manufacturing Co Business Overview 5.8.3 Rheem Manufacturing Co Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.8.4 Rheem Manufacturing Co Commercial Water Heaters Products Introduction 5.9 HTP 5.9.1 HTP Company Profile 5.9.2 HTP Business Overview 5.9.3 HTP Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.9.4 HTP Commercial Water Heaters Products Introduction 5.10 Bradford White 5.10.1 Bradford White Company Profile 5.10.2 Bradford White Business Overview 5.10.3 Bradford White Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.10.4 Bradford White Commercial Water Heaters Products Introduction 5.11 Heat Transfer Products Inc 5.11.1 Heat Transfer Products Inc Company Profile 5.11.2 Heat Transfer Products Inc Business Overview 5.11.3 Heat Transfer Products Inc Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.11.4 Heat Transfer Products Inc Commercial Water Heaters Products Introduction 5.12 Noritz Corp. 5.12.1 Noritz Corp. Company Profile 5.12.2 Noritz Corp. Business Overview 5.12.3 Noritz Corp. Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.12.4 Noritz Corp. Commercial Water Heaters Products Introduction 5.13 Midea Group Co 5.13.1 Midea Group Co Company Profile 5.13.2 Midea Group Co Business Overview 5.13.3 Midea Group Co Commercial Water Heaters Sales, Revenue, Average Selling Price and Gross Margin (2015-2020) 5.13.4 Midea Group Co Commercial Water Heaters Products Introduction 6 Market Analysis and Forecast, By Product Types 6.1 Global Commercial Water Heaters Sales, Revenue and Market Share by Types (2015-2020) 6.1.1 Global Commercial Water Heaters Sales and Market Share by Types (2015-2020) 6.1.2 Global Commercial Water Heaters Revenue and Market Share by Types (2015-2020) 6.1.3 Global Commercial Water Heaters Price by Types (2015-2020) 6.2 Global Commercial Water Heaters Market Forecast by Types (2020-2025) 6.2.1 Global Commercial Water Heaters Market Forecast Sales and Market Share by Types (2020-2025) 6.2.2 Global Commercial Water Heaters Market Forecast Revenue and Market Share by Types (2020-2025) 6.3 Global Commercial Water Heaters Sales, Price and Growth Rate by Types (2015-2020) 6.3.1 Global Commercial Water Heaters Sales, Price and Growth Rate of Gas Water Heaters 6.3.2 Global Commercial Water Heaters Sales, Price and Growth Rate of Solar Water Heaters 6.4 Global Commercial Water Heaters Market Revenue and Sales Forecast, by Types (2020-2025) 6.4.1 Gas Water Heaters Market Revenue and Sales Forecast (2020-2025) 6.4.2 Solar Water Heaters Market Revenue and Sales Forecast (2020-2025) 7 Market Analysis and Forecast, By Applications 7.1 Global Commercial Water Heaters Sales, Revenue and Market Share by Applications (2015-2020) 7.1.1 Global Commercial Water Heaters Sales and Market Share by Applications (2015-2020) 7.1.2 Global Commercial Water Heaters Revenue and Market Share by Applications (2015-2020) 7.2 Global Commercial Water Heaters Market Forecast by Applications (2020-2025) 7.2.1 Global Commercial Water Heaters Market Forecast Sales and Market Share by Applications (2020-2025) 7.2.2 Global Commercial Water Heaters Market Forecast Revenue and Market Share by Applications (2020-2025) 7.3 Global Revenue, Sales and Growth Rate by Applications (2015-2020) 7.3.1 Global Commercial Water Heaters Revenue, Sales and Growth Rate of College (2015-2020) 7.3.2 Global Commercial Water Heaters Revenue, Sales and Growth Rate of Offices (2015-2020) 7.3.3 Global Commercial Water Heaters Revenue, Sales and Growth Rate of Hotel (2015-2020) 7.3.4 Global Commercial Water Heaters Revenue, Sales and Growth Rate of Government (2015-2020) 7.3.5 Global Commercial Water Heaters Revenue, Sales and Growth Rate of Others (2015-2020) 7.4 Global Commercial Water Heaters Market Revenue and Sales Forecast, by Applications (2020-2025) 7.4.1 College Market Revenue and Sales Forecast (2020-2025) 7.4.2 Offices Market Revenue and Sales Forecast (2020-2025) 7.4.3 Hotel Market Revenue and Sales Forecast (2020-2025) 7.4.4 Government Market Revenue and Sales Forecast (2020-2025) 7.4.5 Others Market Revenue and Sales Forecast (2020-2025) 8 Market Analysis and Forecast, By Regions 8.1 Global Commercial Water Heaters Sales by Regions (2015-2020) 8.2 Global Commercial Water Heaters Market Revenue by Regions (2015-2020) 8.3 Global Commercial Water Heaters Market Forecast by Regions (2020-2025) 9 North America Commercial Water Heaters Market Analysis 9.1 Market Overview and Prospect Analysis 9.2 North America Commercial Water Heaters Market Sales and Growth Rate (2015-2020) 9.3 North America Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) 9.4 North America Commercial Water Heaters Market Forecast 9.5 The Influence of COVID-19 on North America Market 9.6 North America Commercial Water Heaters Market Analysis by Country 9.6.1 U.S. Commercial Water Heaters Sales and Growth Rate 9.6.2 Canada Commercial Water Heaters Sales and Growth Rate 9.6.3 Mexico Commercial Water Heaters Sales and Growth Rate 10 Europe Commercial Water Heaters Market Analysis 10.1 Market Overview and Prospect Analysis 10.2 Europe Commercial Water Heaters Market Sales and Growth Rate (2015-2020) 10.3 Europe Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) 10.4 Europe Commercial Water Heaters Market Forecast 10.5 The Influence of COVID-19 on Europe Market 10.6 Europe Commercial Water Heaters Market Analysis by Country 10.6.1 Germany Commercial Water Heaters Sales and Growth Rate 10.6.2 United Kingdom Commercial Water Heaters Sales and Growth Rate 10.6.3 France Commercial Water Heaters Sales and Growth Rate 10.6.4 Italy Commercial Water Heaters Sales and Growth Rate 10.6.5 Spain Commercial Water Heaters Sales and Growth Rate 10.6.6 Russia Commercial Water Heaters Sales and Growth Rate 11 Asia-Pacific Commercial Water Heaters Market Analysis 11.1 Market Overview and Prospect Analysis 11.2 Asia-Pacific Commercial Water Heaters Market Sales and Growth Rate (2015-2020) 11.3 Asia-Pacific Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) 11.4 Asia-Pacific Commercial Water Heaters Market Forecast 11.5 The Influence of COVID-19 on Asia Pacific Market 11.6 Asia-Pacific Commercial Water Heaters Market Analysis by Country 11.6.1 China Commercial Water Heaters Sales and Growth Rate 11.6.2 Japan Commercial Water Heaters Sales and Growth Rate 11.6.3 South Korea Commercial Water Heaters Sales and Growth Rate 11.6.4 Australia Commercial Water Heaters Sales and Growth Rate 11.6.5 India Commercial Water Heaters Sales and Growth Rate 12 South America Commercial Water Heaters Market Analysis 12.1 Market Overview and Prospect Analysis 12.2 South America Commercial Water Heaters Market Sales and Growth Rate (2015-2020) 12.3 South America Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) 12.4 South America Commercial Water Heaters Market Forecast 12.5 The Influence of COVID-19 on South America Market 12.6 South America Commercial Water Heaters Market Analysis by Country 12.6.1 Brazil Commercial Water Heaters Sales and Growth Rate 12.6.2 Argentina Commercial Water Heaters Sales and Growth Rate 12.6.3 Columbia Commercial Water Heaters Sales and Growth Rate 13 Middle East and Africa Commercial Water Heaters Market Analysis 13.1 Market Overview and Prospect Analysis 13.2 Middle East and Africa Commercial Water Heaters Market Sales and Growth Rate (2015-2020) 13.3 Middle East and Africa Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) 13.4 Middle East and Africa Commercial Water Heaters Market Forecast 13.5 The Influence of COVID-19 on Middle East and Africa Market 13.6 Middle East and Africa Commercial Water Heaters Market Analysis by Country 13.6.1 UAE Commercial Water Heaters Sales and Growth Rate 13.6.2 Egypt Commercial Water Heaters Sales and Growth Rate 13.6.3 South Africa Commercial Water Heaters Sales and Growth Rate 14 Conclusions and Recommendations 14.1 Key Market Findings and Prospects 14.2 Advice for Investors 15 Appendix 15.1 Methodology 15.2 Research Data Source

List of Tables and Figures Figure Product Picture Figure Global Commercial Water Heaters Market Size and Growth Rate 2015-2025 Table Commercial Water Heaters Key Market Segments Figure Global Commercial Water Heaters Market Revenue ($) Segment by Type from 2015-2020 Figure Global Commercial Water Heaters Market Revenue ($) Segment by Applications from 2015-2020 Table SWOT Analysis Figure Global COVID-19 Status Figure Supply Chain Table Major Players Headquarters, and Service Area of Commercial Water Heaters Table Major Players Revenue in 2019 Figure Major Players Revenue Share in 2019 Table Haier Electronics Group Company Profile Table Haier Electronics Group Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Haier Electronics Group Production and Growth Rate Figure Haier Electronics Group Market Revenue ($) Market Share 2015-2020 Table AO Smith Corp. Company Profile Table AO Smith Corp. Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure AO Smith Corp. Production and Growth Rate Figure AO Smith Corp. Market Revenue ($) Market Share 2015-2020 Table Rinnai Company Profile Table Rinnai Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Rinnai Production and Growth Rate Figure Rinnai Market Revenue ($) Market Share 2015-2020 Table Bradford White Corp Company Profile Table Bradford White Corp Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Bradford White Corp Production and Growth Rate Figure Bradford White Corp Market Revenue ($) Market Share 2015-2020 Table Bajaj Electricals Ltd Company Profile Table Bajaj Electricals Ltd Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Bajaj Electricals Ltd Production and Growth Rate Figure Bajaj Electricals Ltd Market Revenue ($) Market Share 2015-2020 Table Siemens AG Company Profile Table Siemens AG Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Siemens AG Production and Growth Rate Figure Siemens AG Market Revenue ($) Market Share 2015-2020 Table Bradford White Company Profile Table Bradford White Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Bradford White Production and Growth Rate Figure Bradford White Market Revenue ($) Market Share 2015-2020 Table Rheem Manufacturing Co Company Profile Table Rheem Manufacturing Co Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Rheem Manufacturing Co Production and Growth Rate Figure Rheem Manufacturing Co Market Revenue ($) Market Share 2015-2020 Table HTP Company Profile Table HTP Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure HTP Production and Growth Rate Figure HTP Market Revenue ($) Market Share 2015-2020 Table Bradford White Company Profile Table Bradford White Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Bradford White Production and Growth Rate Figure Bradford White Market Revenue ($) Market Share 2015-2020 Table Heat Transfer Products Inc Company Profile Table Heat Transfer Products Inc Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Heat Transfer Products Inc Production and Growth Rate Figure Heat Transfer Products Inc Market Revenue ($) Market Share 2015-2020 Table Noritz Corp. Company Profile Table Noritz Corp. Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Noritz Corp. Production and Growth Rate Figure Noritz Corp. Market Revenue ($) Market Share 2015-2020 Table Midea Group Co Company Profile Table Midea Group Co Sales, Revenue (US$ Million), Average Selling Price and Gross Margin (2015-2020) Figure Midea Group Co Production and Growth Rate Figure Midea Group Co Market Revenue ($) Market Share 2015-2020 Table Global Commercial Water Heaters Sales by Types (2015-2020) Table Global Commercial Water Heaters Sales Share by Types (2015-2020) Table Global Commercial Water Heaters Revenue ($) by Types (2015-2020) Table Global Commercial Water Heaters Revenue Share by Types (2015-2020) Table Global Commercial Water Heaters Price ($) by Types (2015-2020) Table Global Commercial Water Heaters Market Forecast Sales by Types (2020-2025) Table Global Commercial Water Heaters Market Forecast Sales Share by Types (2020-2025) Table Global Commercial Water Heaters Market Forecast Revenue ($) by Types (2020-2025) Table Global Commercial Water Heaters Market Forecast Revenue Share by Types (2020-2025) Figure Global Gas Water Heaters Sales and Growth Rate (2015-2020) Figure Global Gas Water Heaters Price (2015-2020) Figure Global Solar Water Heaters Sales and Growth Rate (2015-2020) Figure Global Solar Water Heaters Price (2015-2020) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of Gas Water Heaters (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of Gas Water Heaters (2020-2025) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of Solar Water Heaters (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of Solar Water Heaters (2020-2025) Table Global Commercial Water Heaters Sales by Applications (2015-2020) Table Global Commercial Water Heaters Sales Share by Applications (2015-2020) Table Global Commercial Water Heaters Revenue ($) by Applications (2015-2020) Table Global Commercial Water Heaters Revenue Share by Applications (2015-2020) Table Global Commercial Water Heaters Market Forecast Sales by Applications (2020-2025) Table Global Commercial Water Heaters Market Forecast Sales Share by Applications (2020-2025) Table Global Commercial Water Heaters Market Forecast Revenue ($) by Applications (2020-2025) Table Global Commercial Water Heaters Market Forecast Revenue Share by Applications (2020-2025) Figure Global College Sales and Growth Rate (2015-2020) Figure Global College Price (2015-2020) Figure Global Offices Sales and Growth Rate (2015-2020) Figure Global Offices Price (2015-2020) Figure Global Hotel Sales and Growth Rate (2015-2020) Figure Global Hotel Price (2015-2020) Figure Global Government Sales and Growth Rate (2015-2020) Figure Global Government Price (2015-2020) Figure Global Others Sales and Growth Rate (2015-2020) Figure Global Others Price (2015-2020) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of College (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of College (2020-2025) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of Offices (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of Offices (2020-2025) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of Hotel (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of Hotel (2020-2025) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of Government (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of Government (2020-2025) Figure Global Commercial Water Heaters Market Revenue ($) and Growth Rate Forecast of Others (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate Forecast of Others (2020-2025) Figure Global Commercial Water Heaters Sales and Growth Rate (2015-2020) Table Global Commercial Water Heaters Sales by Regions (2015-2020) Table Global Commercial Water Heaters Sales Market Share by Regions (2015-2020) Figure Global Commercial Water Heaters Sales Market Share by Regions in 2019 Figure Global Commercial Water Heaters Revenue and Growth Rate (2015-2020) Table Global Commercial Water Heaters Revenue by Regions (2015-2020) Table Global Commercial Water Heaters Revenue Market Share by Regions (2015-2020) Figure Global Commercial Water Heaters Revenue Market Share by Regions in 2019 Table Global Commercial Water Heaters Market Forecast Sales by Regions (2020-2025) Table Global Commercial Water Heaters Market Forecast Sales Share by Regions (2020-2025) Table Global Commercial Water Heaters Market Forecast Revenue ($) by Regions (2020-2025) Table Global Commercial Water Heaters Market Forecast Revenue Share by Regions (2020-2025) Figure North America Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure North America Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) Figure North America Commercial Water Heaters Market Forecast Sales (2020-2025) Figure North America Commercial Water Heaters Market Forecast Revenue ($) (2020-2025) Figure North America COVID-19 Status Figure U.S. Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Canada Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Mexico Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Europe Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Europe Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) Figure Europe Commercial Water Heaters Market Forecast Sales (2020-2025) Figure Europe Commercial Water Heaters Market Forecast Revenue ($) (2020-2025) Figure Europe COVID-19 Status Figure Germany Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure United Kingdom Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure France Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Italy Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Spain Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Russia Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Asia-Pacific Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Asia-Pacific Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) Figure Asia-Pacific Commercial Water Heaters Market Forecast Sales (2020-2025) Figure Asia-Pacific Commercial Water Heaters Market Forecast Revenue ($) (2020-2025) Figure Asia Pacific COVID-19 Status Figure China Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Japan Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure South Korea Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Australia Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure India Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure South America Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure South America Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) Figure South America Commercial Water Heaters Market Forecast Sales (2020-2025) Figure South America Commercial Water Heaters Market Forecast Revenue ($) (2020-2025) Figure Brazil Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Argentina Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Columbia Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Middle East and Africa Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Middle East and Africa Commercial Water Heaters Market Revenue and Growth Rate (2015-2020) Figure Middle East and Africa Commercial Water Heaters Market Forecast Sales (2020-2025) Figure Middle East and Africa Commercial Water Heaters Market Forecast Revenue ($) (2020-2025) Figure UAE Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure Egypt Commercial Water Heaters Market Sales and Growth Rate (2015-2020) Figure South Africa Commercial Water Heaters Market Sales and Growth Rate (2015-2020)