Global Instant Water Heater Market Analysis & Outlook 2030

As the compound annual growth rate from 2022 to 2030 is likely to be 8%, the market size of instant hot water heaters is estimated to be USD 2.1 billion in 2021. It is a device that instantly heats water. It is also called in-line water heater or tankless water heater. It is a heating device that uses electricity or gas as energy to heat water. It differs from ordinary water heaters in that it does not store water, but heats water as it passes through the device for a period of time. There is a water flow sensor on the instant water heater, which will automatically start when it detects water flow. These water heaters have proven to be very useful in the commercial and household sectors, which in turn promotes the growth of the global instant water heater market. Instant water heaters have many advantages, such as compactness and energy-saving efficiency.

Therefore, in order to increase global sales, instant water heater manufacturers are developing new cost-effective instant water heaters. Based on current trends, it is further expected that the instant water heater market will grow exponentially during the forecast period of the instant water heater market. Government regulations and strict building codes and standards adopting energy-saving technologies are expected to drive demand for water heaters. In addition, the establishment of residential projects and the increase in infrastructure investment are expected to increase the commercial landscape. The industry is subject to key regulations including building energy efficiency and energy performance directives, green design and minimum energy performance standards, which create a strict environment for manufacturers and end users. Innovation and technology provide advanced equipment for the instant water heater market to improve people's well-being and living standards. The automation and progress of household necessities have had an impact on the thinking of customers.

Prior to this, water heaters led the market, but with the increase in R&D investment, the models continued to improve, such as instant water heaters. Emerging economies provide the potential for the instant water heater market because they are untapped. The non-members of the Organization for Economic Cooperation and Development (OECD) account for more than 80% of the world's population; however, they consume less than advanced economies. In recent years, Asia-Pacific countries and LAMEA have experienced significant economic growth, which has also led to changes in lifestyles. Therefore, promote the growth of instant water heaters in the Asia-Pacific region.

It is estimated that by 2020, the population of emerging economies will account for more than 60% of the current middle-class population in the world. Taking into account the speed of change, in China, the disposable income of about 3 million households in China was about 10,000 U.S. dollars, which increased to 60 million in 2012. It is estimated that by 2020, this number will exceed 230 million. Therefore, the rising middle class expects that the population will drive the demand for instant water heater products, thereby increasing the growth of the instant water heater market during the forecast period.

Divided by product type, the gas-fired instant water heater segment accounted for the highest market share of instant water heaters in 2020. This is due to abundant natural gas resources and pipeline natural gas supply to commercial and residential customers. The increasing demand for replacement of traditional systems, coupled with the adoption of low-emission space heaters, is expected to amplify the growth of the instant water heater industry. Based on applications, the residential market segment accounted for the largest market share in 2020. Attributable to the increase in population and the development of urbanization in the Asia-Pacific region. The increase in residential building construction projects and the customers focus on minimizing energy costs have led to the deployment of energy-efficient space heaters.

Ease of installation, low power consumption and minimal maintenance are some important parameters expected to promote product adoption. In addition, the continuous development of green buildings and the continuous advancement of smart city projects are expected to increase the commercial footprint. From the perspective of distribution channels, supermarkets and hypermarkets have the largest market share in 2020. Hypermarkets make it easy for customers to shop. It provides different types of water heaters, such as gas, instantaneous, storage and solar, from various brands, and each brands products have unique characteristics. Customers can choose from a variety of products in one store without having to visit many stores of different brands. Therefore, this saves consumers a lot of time and energy.

Therefore, supermarkets and hypermarkets have driven the sales of instant water heaters. Operators in the instant water heater industry will launch new products as their main development strategy to expand the market share of instant water heaters, increase profitability and maintain competitiveness. The major companies described in the report include AO Smith Corporation, Ariston Thermo SPA, Bradford White Corporation, General Electric Company, Ferroli SPA, Havells India Ltd, Nihon Itomic Co., Ltd, Rheem Manufacturing Company, Vaillant Group, and Whirlpool Corporation.

The Key Benefits report provides instantaneous quantitative analysis from Current on the water heater market trends, estimates and market size dynamics from 2022-2030 to identify major opportunities. Porter’s Five Forces analysis emphasizes the power of buyers and suppliers to enable stakeholders to make profitable business decisions and strengthen your supplier and buyer network. A detailed analysis of the instantaneous water heater market and market size and segmentation helps to determine the current instantaneous water heater market opportunity.

The top-ranked countries in the world are allocated according to their income contribution to the market. Part of the positioning of market participants is helpful for benchmarking and a clear understanding of the current position of market participants in the instant water heater market. Key market segments by product type Gas instant electric water heaters Instant electric water heaters by application Commercial residential industry By distribution channel Supermarkets and hypermarkets Specialty stores Convenience stores Online stores.

 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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