Tankless Water Heater Market size to exceed $15bn by 2026

Tankless Water Heater Market size is expected to surpass USD 15 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Ongoing shift toward improvement in living standards on account of substantial gains in disposable income will fuel the instant water heater market growth. The customers are moving toward more comfort and luxurious living style with adoption of latest available technologies in the market. For instance, smart monitoring and control features along with easy operability via mobile applications have significantly increased the user base. Furthermore, strict policies toward adoption of energy efficient heating appliances along with growing consumer awareness toward carbon emissions will complement the business landscape.

 

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Robust expansion of commercial establishments supported by strong economic growth primarily across the emerging economies will foster the tankless water heater market outlook. Ongoing construction of zero emission buildings along with smart city roll outs by respective government authorities have significantly increased the product adoption. For instance, the Asia Infrastructure Investment Bank provided an investment of USD 100 million to facilitate the infrastructural development across the nation.
 

Ongoing upgradation and product innovation will boost the product demand

High power heating elements, quick heating and high-pressure withstanding capabilities have resulted in increased demand across the instant water heater market. The units are widely used across high rise and multistory buildings and commercial spaces. Introduction of compact designs, leakage detection, voice control and anti-symphonic system have attracted a large customer base. In 2019 Vaillant introduced its new instantaneous water heater range equipped with enhanced electronic and control technology.
 

Browse key industry insights spread across 475 pages with 1,174 market data tables & 28 figures & charts from the report, “Instant Water Heater Market Outlook By Application (Residential, Commercial {College/University, Office, Government/Military}), By Energy Source (Electric, Gas{Natural Gas, LPG}), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, France, Germany, Italy, Austria, Spain, Netherland, Denmark, Finland, Sweden, Norway, Russia, Belarus, Armenia, Kazakhstan, Kyrgyzstan, Azerbaijan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, China, Australia, India, Japan, South Korea, Indonesia, Malaysia, Singapore, Thailand, New Zealand, Philippines, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Turkey, South Africa, Nigeria, Algeria, Egypt, Israel, Cyprus, Lebanon, Iraq, Brazil, Argentina, Chile, Mexico), Application Potential, Competitive Market Share & Forecast, 2020 - 2026”in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/instant-water-heater-market
 

Offices accounted for over 25% revenue share of the commercial applications in 2019

Robust service sector growth along with introduction of smart instant heating technologies have stimulated the product adoption across offices and other commercial applications. The units have low standby losses and have proven more cost effective in long run when compared with its storage counterparts. In addition, increased focus toward office décor and space availability have complemented the business landscape.
 

Ongoing construction of manufacturing facilities will propel the Asia Pacific water heating demand

For Asia Pacific, China and India will drive the tankless water heater market demand owing to availability of low-cost labor and ongoing development of new manufacturing facilities. The companies are focusing toward lean manufacturing strategies and cost cutting to offer competitive pricing to its customers. The industry is highly fragmented with companies investing a significant amount toward research and development to ensure continuous technological developments.
 

Key player operating across the instant water heater industry include A.O. Smith, Ariston Thermo, Bosch Thermotechnology, Bradford White, General Electric, Racold, Rheem Manufacturing, Whirlpool Corporation, Rinnai Corporation, State Water Heaters, Ferroli, Havells India Limited, Hubbell, Vaillant Group and Nihon Itomic. The leading companies are focusing toward technological advancements and inorganic growth ventures to capture a broader market share.
 

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