A hot water recirculator is basically a pump that is put in at the furthest part of the hot water system in your house, this pump has a return line back to the hot water tank. A thermometer is used to control when the pump goes on, idea is that hotter water is kept in the pipe at all times, so reducing the time it takes for the hot water to 'appear' at the tap or shower head.
This is good for existing installations, but do make sure the pipes are well lagged. For new builds it is often easier to use a smaller bore pipe, so less water rests in the pipe so it draws from the hot water tank quicker.
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