Tankless Water Heater Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Technology (Condensing, Non-Condensing), By Energy Source (Electric, Gas), By End-Use (Condominium, Salon/Parlor, Hotels & Resort, Hospitals, Residential, Others (Colleges/Universities, Offices, etc.)), By Distribution Channel (Hypermarkets/Supermarkets, Exclusive Stores, Multi-br
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTankless Water Heater Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Technology (Condensing, Non-Condensing), By Energy Source (Electric, Gas), By End-Use (Condominium, Salon/Parlor, Hotels & Resort, Hospitals, Residential, Others (Colleges/Universities, Offices, etc.)), By Distribution Channel (Hypermarkets/Supermarkets, Exclusive Stores, Multi-br
tankless water heaters typically produce 2 to 5 gallons (7.6 to 15.2 liters) of hot water every minute.
The market will expand as a result of shifting customer preferences toward smart appliances and significant investments in R&D, including the integration of smart technologies and new product improvements.
Additionally, it is anticipated that product development would offer up new possibilities for market expansion. For instance, EcoNet Smart Technology, which supports Wi-Fi connectivity, and other features offering system control, cost savings, and protection are included in Rheem's Prestige models. The development of carbon-neutral buildings included with the growth of smart cities and commercial infrastructure, are all fueling the market. Soon, market growth is predicted to be driven by ongoing technological advancement.
Sales of tankless water heaters are expected to increase as companies develop services and goods that are convenient and interoperable. In this market, reasonable pricing, ease of use, and rising acceptance may be seen.
The market for tankless water heater systems will also experience considerable expansion as traditional water heater units in commercial settings like hospitals, hotels, restaurants, beauty salons & spas, etc. are increasingly replaced by tankless water heating technology.
Download Free Sample ReportEnergy Saving Properties Are Fueling the Market Growth
24%–34% more energy efficient than traditional storage
Long Life Expectancy is Fueling the Market Growth
. The majority of tankless water heaters have a lifespan of over 20 years.
Technological Advancement is Aiding the Market Growth
With consumers becoming more aware of the cutting-edge technologies found at on the market, manufacturers are now concentrating on developing innovative products. For instance, Rinnai, a top producer of tankless water heaters, has integrated Amazon Alexa's compatibility with Rinnai products, enabling consumers to ask Alexa to switch on circulation, allowing the tankless water heating system to function. Additionally, it offers Google Wi-Fi connectivity for compatible products, enabling users to track the effectiveness of their tankless water heater recirculation system.
High Efficiency Rate of Condensing Water Heater is Driving the Market Growth
Over the anticipated term, a high growth rate is projected for the condensing segment. Condensing tankless water heaters, which are more prevalent in emerging nations than non-condensing tankless water heaters, are more energy efficient.
Key producers of water heaters will benefit from the high market concentration resulting from various government and corporate sectors concentrating on creating power plants that utilize renewable energy sources, such as solar and wind.
High Installation Cost is Hindering the Market Growth
Tankless heater installation typically costs between USD4,500 and USD6,500, with an average cost of roughly USD5,500. (Including the water heater, warranty, and tune-ups). The price of the tankless installation without the unit can range from USD1800 to USD3500, with an average of USD2650.
An electric tankless water heater will probably cost somewhere around USD2,500,
Market Segmentation
The global tankless water heater market is segmented based on technology, energy source, end-use, distribution channel, region, and competitional landscape. Based on technology, the market is further fragmented into condensing, non-condensing. Based on energy Source, the market is segmented into electric, gas. In terms of end-use, the market is divided into condominiums, salons/parlor, hotels & resorts, hospitals, residential, and others (colleges/universities, offices, etc.). Based on distribution channels, the market is segmented into hypermarkets/supermarkets, exclusive retailers, multi-brand retailers, online, and others (direct sales, distributor/channel sales, etc..). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Ariston Holding N.V., A.O. Smith, Bosch Thermotechnology Corp, Bradford White Corporation, GE Appliances, Rheem Manufacturing Company, Whirlpool Corporation, Rinnai Corporation, FERROLI S.p.A, Havells India Limited,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion, Volume in Thousand Units and CAGR for 2018-2021 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Technology Energy Source End-Use Distribution Channel Region |
| Regional Scope | North America, Europe, Asia-Pacific, Middle East & Africa and South America |
| Country Scope | United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Netherland, Switzerland, China, India, Japan, South Korea, Australia, New Zealand, Thailand, Saudi Arabia, UAE, South Africa, Qatar, Kuwait, Brazil, Argentina, Colombia |
| Key Companies Profiled | Ariston Holding N.V., A.O. Smith Corporation, Bosch Thermotechnology GmbH, Bradford White Corporation, GE Appliances, Rheem Manufacturing Company, Whirlpool Corporation, Rinnai Corporation, FERROLI S.p.A, Havells India Limited, etc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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