The report on the Tankless Water Heater market report includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the foremost important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely on before investing. It furnishes with an inexpensive examination of the marketplace for better decision-making and assessment to put resources into it. The report analyses the weather and a whole detailed outlook of the foremost players that are likely to feature to the demand within the worldwide Tankless Water Heater market within the upcoming years.
Main features of the report:
• To provide detailed analysis of the market structure together with forecast of the varied segments and sub-segments of the world Tankless Water Heater Market.
• A perfect background analysis, which has an evaluation of the parent market.
• Important changes in market dynamics
• Track and analyse competitive developments like joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments within the global Tankless Water Heater Market.
• Emerging niche segments and regional markets
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The global tankless water heater market size is projected to reach USD 4.6 billion by 2025, according to a new report published by Million Insights, with a CAGR of 7.5% from 2019 to 2025. The introduction of new products with advanced designs is the driving tankless water heaters demand. For example, companies like Raheem and Rinnai, in 2019, introduced efficient water heaters providing voice recognition and Wi-Fi connectivity allowing the customers to monitor water circulation and temperature through their smartphones.
Electric products accounted for a higher market share in 2018 and are expected to grow significantly over the years. The surging demand for these heaters among the commercial and residential sectors is predicted to drive the market growth in the upcoming years. Several residents are using electric tankless water heaters owing to their low operating and maintenance costs, and energy efficiency. Additionally, these products are long-lasting and cost-effective against their gas counterparts.
The residential application accounted for the market share of 72.4% in 2018. The consumer preference for eco-friendly and energy-efficient products has propelled the growth of this industry in the residential sector. Furthermore, urbanization and the rising demand for smart products are predicted to remain a favorable factor for the industry over the years. For example, Rheem’s Prestige models consist of EcoNet Smart Technology that offers Wi-Fi connectivity and other features for system protection, monetary savings, and control. Additionally, the rising living standard of consumers along with product development is predicted to boost the market growth over the forecast period.
The commercial application is expected to grow at a CAGR of 7.8% for the period of 2019 to 2025. The launch of innovative products has contributed to the surging demand for these products. The growth in the number of commercial buildings like hotels, hospitals, and restaurants due to the flourishing tourism sector is expected to boost the demand for hot water.
Europe held the leading market share for the year 2018 due to increased production and trend for using economical and energy-efficient products. North America is expected to register the fastest CAGR of 10.7% over the forecast period. The rising awareness relating to ecological products along with product visibility is expected to propel the demand for the tankless water heater market. Furthermore, the presence of established players like Rheem and A.O. Smith is predicted to surge the demand for tankless water heaters over the years.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Tankless Water Heater: Market Variables, Trends & Scope
Chapter 4 Tankless Water Heater: Product Estimates & Trend Analysis
Chapter 5 Tankless Water Heater: Application Estimates & Trend Analysis
Chapter 6 Tankless Water Heater: End-use Estimates & Trend Analysis
Chapter 7 Tankless Water Heater: Industrial End-use Estimates & Trend Analysis
Chapter 8 Tankless Water Heater: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Tankless Water Heater: Manufacturers Company Profiles
Top Key Players of Tankless Water Heater Market:
A.O. Smith; Rinnai Corporation; Rheem Manufacturing Company; Bradford White Corporation; EcoSmart Green Energy Products, Inc.; Robert Bosch LLC; Takagi; Navien Inc.; and Noritz America.
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