Tankless Water Heater Market Emerging Players May Yields New Opportunities | NORITZ Corporation, Navien Inc.,

The global tankless water heater market size was US$ 6.3 billion in 2021. The global tankless water heater market size is forecast to reach US$ 12.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.

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The tankless water heater is a piece of heating equipment that warms water using either gas or electricity as the fuel source. It differs from conventional or tanked water heaters in that it heats water as it goes through the heating units quickly rather than storing it. Tankless water heaters use a water flow sensor that turns on automatically when it detects water flow. In comparison to the conventional storage-tank type of water heater, the tankless model has a longer lifespan and occupies less space. The various tankless water heater models can produce hot water at a flow rate ranging from 3.4 to 9.8 gallons per minute (GPM).

Factors Influencing Market Growth
The increasing demand for tankless electric water heater from commercial applications such as restaurants, food processing, laundry, and others drive the global market.

The power outages & intermittent power supply, and the increased cost of vent materials may slow down the overall market growth.

The increase in emphasis on manufacturing tankless electric water heaters with safety understanding, improved quality, and energy efficiency is forecast to offer lucrative opportunities for the global market.

Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Due to the worldwide lockout, the growth rates of several businesses, including those in the building and construction, transportation, oil and gas, automotive, and energy sectors, have decreased. As a result, there was less demand for tankless water heaters, which hindered the market's expansion in 2020. However, the reopening of construction activities is forecast to boost the market in the upcoming market.

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Regional Analysis
Europe accounted for a significant market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the existence of leading companies and a high consumer base in the region. In addition, the growing adoption of tankless water heaters in countries such as Switzerland, Germany, and the U.K., and increasing demand from the commercial sector, including restaurants, hotels, and hospitals, will drive market growth in the region.

Leading Competitors

The leading prominent companies profiled in the global tankless water heater market are:
A. O. Smith
Bradford White Corporation
EcoSmart Green Energy Products, Inc.
GENERAL ELECTRIC
NORITZ Corporation
Navien Inc.
Robert Bosch GmbH
Stiebel Eltron, Inc.
Westinghouse Electric Corporation
V-Guard Industries Ltd
Other Prominent Players

Scope of the Report

The global tankless water heater market segmentation focuses on Type, Energy Source, Energy Factor, End-User, and Region.

Segmentation based on Type
Condensing
Non-Condensing

Segmentation based on Energy Source
Electric
Gas

Segmentation based on Energy Factor
0.80 to 0.90 EF
0.91 to 0.99 EF

Segmentation based on End-User
Residential
Commercial

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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Aim of the Report

This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market's future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players' products and the competitive landscape.
Key questions answered in the global market report are:

-- How does a global company acquire markets?
-- What are its core strategies and policies?
-- What factors will influence the market over the forecast period?
-- What are the factors driving and restraining the market?
-- What are the leading competitors in the global market?
-- Which region is growing at a higher pace in the global market?

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