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From 2023 to 2030, the worldwide market for tankless water heaters is projected to expand from its 2022 valuation of USD 3.55 billion at a CAGR (compound annual growth rate) of 9.7 percent.
The key reason driving demand for tankless water heaters is increasing consumer concerns over the sustainable use of energy. For instance, a tankless water heater is said to be 24-34% more efficient than a conventional one, as reported by Energy.gov. Due to their ability to conserve both space and energy, tankless water heaters are predicted to rapidly gain in popularity across residential and commercial sectors, driving market growth during the forecast period.
Construction, transportation, oil and gas, automotive, and energy sectors have all seen slower growth rates as a result of the global lockdown.Because of this, fewer people are installing tankless water heaters, which has slowed the expansion of the tankless water heater industry. The tankless water heater market is predicted to grow rapidly over the forecast period as more and more homes and businesses invest in these heaters due to their ability to reduce space requirements and energy consumption. In addition, several tankless water heaters have earned the EPA's Energy Star designation, making them both environmentally responsible and pocketbook-friendly. In addition, these items typically cost more than the standard 40-gallon water heater, but they typically have longer warranties and last longer.
An electric or gas water heater that doesn't require a storage tank is called a tankless water heater. The water is heated as it flows through the heating units, unlike conventional water heaters that store water until it is needed. The global tankless water heater market is growing as a result of several factors. These include an increase in infrastructure investments, the substitution of tank-based water heaters for tankless ones, the widespread adoption of smart water heaters, and rising building and construction activities around the world. On the other hand, leading companies in this market may look forward to a development opportunity as they shift their attention to producing tankless electric water heaters with a focus on safety, improved quality, and energy efficiency.
Rapid urbanization, especially in emerging countries, and the widespread increase in demand for energy-efficient tankless water heaters are expected to drive demand and growth in the global industry throughout the forecast period. In addition, the increasing number of cutting-edge, novel tankless heaters released by leading worldwide firms is anticipated to have a beneficial effect on the market's development, as is the trend toward including Wi-Fi connectivity for remote monitoring of water temperature and flow.
The global market for tankless water heaters was impacted negatively by COVID-19. Companies in the building and transportation, oil and gas, automotive, and energy industries will see a drop in revenue in 2020 as a result of the worldwide lockdown enforced by the pandemic. As a result, demand for tankless water heaters has fallen, slowing the expansion of the market for these devices in both commercial and residential settings. During the pandemic period, building and construction activities were halted globally due to rigorous measures of social isolation, a scarcity of manpower, and a disruption in the supply of raw materials. Hot water is produced instantly when needed by a tankless water heater, sometimes called a demand-type or instantaneous water heater. Costs connected with storage water heaters' standby energy losses are eliminated. Hot water is delivered by tankless water heaters at a rate of 7.6 to 15.2 liters per minute (2 to 5 gallons).
The effects of drivers, restraints, and opportunities on the tankless water heater market are analyzed and estimated. This research covers the years 2021-2031. Tankless water heater market growth opportunities and restraints by region are analyzed in this report. The influence of suppliers, rivals, new entrants, substitutes, and customers on market expansion are all analyzed in this study using Porter's five forces framework.
The "Global Tankless Water Heater Market Analysis to 2028" is a comprehensive and in-depth research study of the Tankless Water Heater Market. The purpose of this study is to give readers an overview of the Tankless Water Heater market by classifying it into its component parts. The global market for tankless water heaters is anticipated to expand rapidly over the coming years. The report covers key trends and opportunities in the Tankless Water Heater market and gives important information on the market status of the leading market player.
Report Coverage
Global Tankless Water Heater research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Tankless Water Heater report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Tankless Water Heater competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Tankless Water Heater market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Tankless Water Heater market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Tankless Water Heater market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Westinghouse Electric Corporation, A. O. Smith, Navien Inc., Bradford White Corporation, Stiebel Eltron, Inc., EcoSmart Green Energy Products, Inc., NORITZ Corporation, Robert Bosch GmbH, V-Guard Industries Ltd., GENERAL ELECTRIC
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Tankless Water Heater market based on the below-mentioned segments:
Global Tankless Water Heater Market, By Type
Condensing
Non-Condensing
Global Tankless Water Heater market, By Energy Source
Electric
Gas
Global Tankless Water Heater Market, By End User
Residential
Commercial
Global Tankless Water Heater market, Regional Analysis
The key reason driving demand for tankless water heaters is increasing consumer concerns over the sustainable use of energy. For instance, a tankless water heater is said to be 24-34% more efficient than a conventional one, as reported by Energy.gov. Due to their ability to conserve both space and energy, tankless water heaters are predicted to rapidly gain in popularity across residential and commercial sectors, driving market growth during the forecast period.
Construction, transportation, oil and gas, automotive, and energy sectors have all seen slower growth rates as a result of the global lockdown.Because of this, fewer people are installing tankless water heaters, which has slowed the expansion of the tankless water heater industry. The tankless water heater market is predicted to grow rapidly over the forecast period as more and more homes and businesses invest in these heaters due to their ability to reduce space requirements and energy consumption. In addition, several tankless water heaters have earned the EPA's Energy Star designation, making them both environmentally responsible and pocketbook-friendly. In addition, these items typically cost more than the standard 40-gallon water heater, but they typically have longer warranties and last longer.
An electric or gas water heater that doesn't require a storage tank is called a tankless water heater. The water is heated as it flows through the heating units, unlike conventional water heaters that store water until it is needed. The global tankless water heater market is growing as a result of several factors. These include an increase in infrastructure investments, the substitution of tank-based water heaters for tankless ones, the widespread adoption of smart water heaters, and rising building and construction activities around the world. On the other hand, leading companies in this market may look forward to a development opportunity as they shift their attention to producing tankless electric water heaters with a focus on safety, improved quality, and energy efficiency.
Rapid urbanization, especially in emerging countries, and the widespread increase in demand for energy-efficient tankless water heaters are expected to drive demand and growth in the global industry throughout the forecast period. In addition, the increasing number of cutting-edge, novel tankless heaters released by leading worldwide firms is anticipated to have a beneficial effect on the market's development, as is the trend toward including Wi-Fi connectivity for remote monitoring of water temperature and flow.
The global market for tankless water heaters was impacted negatively by COVID-19. Companies in the building and transportation, oil and gas, automotive, and energy industries will see a drop in revenue in 2020 as a result of the worldwide lockdown enforced by the pandemic. As a result, demand for tankless water heaters has fallen, slowing the expansion of the market for these devices in both commercial and residential settings. During the pandemic period, building and construction activities were halted globally due to rigorous measures of social isolation, a scarcity of manpower, and a disruption in the supply of raw materials. Hot water is produced instantly when needed by a tankless water heater, sometimes called a demand-type or instantaneous water heater. Costs connected with storage water heaters' standby energy losses are eliminated. Hot water is delivered by tankless water heaters at a rate of 7.6 to 15.2 liters per minute (2 to 5 gallons).
The effects of drivers, restraints, and opportunities on the tankless water heater market are analyzed and estimated. This research covers the years 2021-2031. Tankless water heater market growth opportunities and restraints by region are analyzed in this report. The influence of suppliers, rivals, new entrants, substitutes, and customers on market expansion are all analyzed in this study using Porter's five forces framework.
The "Global Tankless Water Heater Market Analysis to 2028" is a comprehensive and in-depth research study of the Tankless Water Heater Market. The purpose of this study is to give readers an overview of the Tankless Water Heater market by classifying it into its component parts. The global market for tankless water heaters is anticipated to expand rapidly over the coming years. The report covers key trends and opportunities in the Tankless Water Heater market and gives important information on the market status of the leading market player.
Report Coverage
Global Tankless Water Heater research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Tankless Water Heater report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Tankless Water Heater competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Tankless Water Heater market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Westinghouse Electric Corporation, A. O. Smith, Navien Inc., Bradford White Corporation, Stiebel Eltron, Inc., EcoSmart Green Energy Products, Inc., NORITZ Corporation, Robert Bosch GmbH, V-Guard Industries Ltd., GENERAL ELECTRIC |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Tankless Water Heater Market from 2021 to 2030.
- Market Forecast for Tankless Water Heater Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Tankless Water Heater competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Tankless Water Heater
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Tankless Water Heater market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Tankless Water Heater market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Westinghouse Electric Corporation, A. O. Smith, Navien Inc., Bradford White Corporation, Stiebel Eltron, Inc., EcoSmart Green Energy Products, Inc., NORITZ Corporation, Robert Bosch GmbH, V-Guard Industries Ltd., GENERAL ELECTRIC
Primary Target Market
- Market Players of Tankless Water Heater
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Tankless Water Heater market based on the below-mentioned segments:
Global Tankless Water Heater Market, By Type
Condensing
Non-Condensing
Global Tankless Water Heater market, By Energy Source
Electric
Gas
Global Tankless Water Heater Market, By End User
Residential
Commercial
Global Tankless Water Heater market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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