Tankless Water Heater Market | Rheem Manufacturing Company, Rinnai Corporation, A. O. Smith, Noritz America Corp.

Tankless water heaters also referred to as demand-type water heaters or an instant water heater that provides hot water instantly or on-demand. These water heaters can be installed in a closet or on exterior walls and can give the endless source of hot water by while saving money on energy by heating or reheating the same tank. Tankless water heaters are widely used across residential as well as commercial spaces. Tankless water heaters are highly durable and can be last for many years. Moreover, it lowers the energy bills by up to saving 40%energy as these heaters are highly efficient.

The global tankless water heater market is estimated to account for US$ 29.7 billion in terms of revenue by the end of 2027, growing at a CAGR of 5.4% during the forecast period (2019-2027)

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Detailed Segmentation:

Global Tankless Water Heater Market, By Technology:
Condensing
Non-Condensing

Global Tankless Water Heater Market, By Energy Source:
Electric
Gas

Global Tankless Water Heater Market, By Energy Factor:
0 to 0.79 EF
0.80 to 0.89 EF
0.90 EF and Above

Global Tankless Water Heater Market, By Location:
Indoor
Outdoor

Global Tankless Water Heater Market, By End User:
Residential
Commercial

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The increasing introduction of multi-utility systems by the manufacturer is anticipated to augment the market growth over the forecast period. Rising demand for energy-efficient systems that save money, space, and efforts, manufacturers are introducing a multi-utility tankless water heaters system that not only heats the water but also fulfill the other needs. For example, in recent years, tankless water heaters have been paired with paired air conditioning or handling systems for space heating in recent years.

The rising focus of manufacturers on strengthening the distribution channel through e-commerce is a major trend that has been observed in the market. For instance, in March 2019, the Indian water heater brand Racold builds an e-Commerce campaign around misspelled search keywords. This step will help the brand to touch newer heights and witness great success. Therefore, the rising focus of manufacturers in strengthening the distribution channel is projected to foster market growth.

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