Europe Instant Water Heater Market Size
Hey there! Have you heard about instant water heaters? They're gaining popularity like crazy in Europe. These smart devices heat water right when you need it, no waiting around. They're also called tankless or on-demand water heaters, and they're a huge upgrade from those old-school ones with big tanks. In 2022, the European instant water heater market was worth a whopping 1.9 billion. And here's the exciting partit's expected to grow by over 4.6% each year from now until 2032. Why are they so popular? Well, for starters, they're super efficient and cost-effective. Plus, they're eco-friendly, so you can feel good about using them. You can also hook them up to renewable energy sources, like solar panels, to save even more money and help the planet. As more and more people choose instant water heaters, the market is bound to keep growing. So, if you're looking for a way to upgrade your home and save money, this is definitely something to think about!
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Stringent energy and environmental standards along with manufacturers continuously innovating the product designs to meet with the set standards and qualify for energy efficiency labels and certifications will continue to drive the business potential. For instance, the Renewable Energy Sources Directive (RED) 2009/28/EC, which amends and repeals earlier Directives 2001/77/EC and 2003/30/EC, creates a common set of rules for the use of renewable energy in the EU so as to limit greenhouse gas (GHG) emissions and promote cleaner transport.
Europe Instant Water Heater Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Europe Instant Water Heater Market Size in 2022 |
USD 1.9 Billion |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
4.6% |
| 2032 Value Projection |
USD 3.1 billion |
| Historical Data for |
2019 to 2021 |
| No. of Pages |
200 |
| Tables, Charts & Figures |
294 |
| Segments covered |
Application and Energy Source |
| Growth Drivers |
- Stricter energy efficiency regulations
- Increasing urbanization and product innovation.
- Rising demand for energy-efficient water heaters.
|
| Pitfalls & Challenges |
|
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COVID- 19 Impact
The COVID- 19 pandemic is set to impact the industry growth owing to lockdown enforcements and lack of workforce availability along with delays in several ongoing projects. Recommencement of various industrial operations, government guidelines, and vaccination drives to curb the virus spread will propel the business dynamics. Furthermore, continuous construction activities followed by development in the real-estate sector are set to positively influence the industry landscape.
Europe Instant Water Heater Market Trends
Smart home technologies with features including remote control through mobile apps, convenience and energy savings in line with advancement of the existing technologies will fuel the product installation. Extreme climatic conditions across various economies across the region in line with continuous hot water supply requirements to support the increasing demand will sway the business dynamics. Furthermore, various funding programs toward building establishments by both private and public owned firms are set to augment the business dynamics.
Europe Instant Water Heater Market Analysis
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Based on application, the commercial instant water heater market is projected to reach USD 456 million by 2032 on account of growing demand across resorts, hotels, and public facilities coupled with rising installation across off-grid localities. Shifting customer focus toward infrastructure development for large commercial spaces including airports, shopping complexes, and government complexes, among others will enhance the product demand.
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Based on energy source, the electric instant water heater market is predicted to showcase more than 3.5% growth rate till 2032. Introduction of smart instant heating technologies coupled with increasing adoption of heating systems owing to its low standby losses, desired temperature, and cost effectiveness will stimulate the business landscape. In addition, rising preference for demand-oriented heating systems along with development of new & advanced solutions facilitating features comprising leakage detections, compact designs, and anti-symphonic & voice control systems will influence the industry dynamics.
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UK instant water heater market is poised to expand at 3.5% CAGR during 2023 to 2032. Increasing point of connections along with a rapid expansion of the existing grid networks along with upsurge in urbanization and rising population is set to augment the product penetration. Stringent environment regulations to curb carbon emissions coupled with existing building standards & codes are encouraging the deployment of high-efficiency heating appliances will propel the industry growth. In addition, growing demand for advanced & energy-efficient units in line with rising spending on research & development will facilitate mass product adoption across the region.
Europe Instant Water Heater Market Share
Eminent players operating in the Europe instant water heater industry are
- A. O. Smith
- Ariston Holding N.V.
- Bosch Thermotechnology Corp.
- STIEBEL ELTRON GmbH & Co. KG
- Bradford White Corporation
- GE Appliances
- Whirlpool Corporation
- Rinnai Corporation
- FERROLI S.p.A
- Havells India Ltd.
- Vaillant Group
- Viessmann
- Heatrae Sadia
- Navien Inc.
- Haier Inc.
- Jaquar India
Europe Instant Water Heater Industry News
- In October 2022, Bradford White Corporation announced its new Infiniti GS and GR tankless water heaters. Both the versions feature several venting options, optional commercial rack mounts, and stainless-steel heat exchangers. The introduction of the efficient & reliable models enabled to meet the demands of both commercial & residential applications and accommodate several installations, strengthening the company’s portfolio across the water heater industry.
- In June 2019, Rheem Manufacturing Company acquired Intergas of Netherlands, a leading manufacturer of residential water heaters and gas boilers. The business acquired a leading platform in the Europe hot water & heating market; with this acquisition, it also offered price-competitive solutions to satisfy the needs of local consumers. This move has supported the company in showcasing its portfolio and maintaining a strong position across the water heater industry.
This Europe instant water heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘‘000 Units & USD Million’ from 2023 to 2032 for the following segments
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By Application
- Residential
- Commercial
- College/University
- Offices
- Government/Military
- Others
By Energy Source
The above information has been provided for the following countries
- UK
- France
- Germany
- Italy
- Austria
- Spain
- Netherlands
- Denmark
- Finland
- Sweden
- Norway
- Portugal
- Greece
- Rest of Europe
