Research Nester has recently announced new market demand assessment research titled “Tankless Water Heater Market – Global Demand Analysis & Opportunity Outlook 2023”. The market study provides a granular data and in-depth analysis on the current and future market situations that are crucial for the existing & new players in the market. The industry research is based on key factors like demand & supply analysis, commercial activities, research investments, pricing analysis, government initiatives & guidelines, driving forces in the market, roadblocks and segmentation based on the product viability.
Tankless Water Heater stores the water inside the coils and it is more energy efficient as compared to conventional storage water heaters. In addition to this, light weight in nature and government subsidy on various efficient electronic equipment in various countries are few of the reason that would escalate the demand for the tankless water heaters in near future.
Riding on these factors, the Global Tankless Water Heater market is anticipated to grow at a compound annual growth rate (CAGR) of 9.3% during forecasted period 2015-2021.
Globally, Asia-Pacific has the largest market share as compared to other regions. Asia-Pacific tankless water heater market is projected to grow at a CAGR of 8.3% over the forecasted period. At present, countries like China, India, Japan has the major market growth in Asia Pacific region.
North America tankless water heater market is expected to grow at a CAGR of 9.5% over the period 2015-2021. In Europe, the electric tankless water heater sales are at steady rate and sales of gas tankless water heater are on a continuous fall. Across many countries in the European region, Germany is the major market in the Europe region at present followed by U.K.
Factors like shift in consumers taste and preference, spiked adoption of eco-friendly equipment, inclination towards using efficient heaters, longing to use electric devices with more technological advanced features and user controls etc. are some of the major factors which are expected to drive the demand for global tankless water heater market in the upcoming years.
In addition to that, continuous increase in urban population and personal disposable income across the globe are projected to drive the global tankless water heater market during next 5-6 years.
Analysis By Fuel Type
- Natural Gas
Demand By Energy Factor Type
- 0.90+ EF
- 0.80 – 0.89 EF
- – 0.79 EF
- Noritz Corporation
- A.O. Smith Corporation
- Bradford White Corporation
- Rheem Manufacturing Company
Demand in Countries Studied:
- North America (United States / U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia, Poland, Rest of Eastern Europe)
- Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
- Rest of World
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