Tankless Water Heater Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends

What combination of drivers is leading to accelerated growth in the tankless water heater market?
The burgeoning efforts of governments to advocate for eco-friendly water heaters are forecasted to drive the expansion of the tankless water heater market. These efforts encapsulate the activities, strategies, and initiatives adopted by a government to address various challenges, meet specific objectives, and fulfill the demands of its populace. By enacting standards and regulations for appliances and introducing incentive plans targeting both consumers and producers, governments can stimulate the preferment of energy-efficient tankless water heaters over conventional tank-based models. For instance, in July 2023, the U.S. Department of Energy, a government agency based in the United States, introduced new benchmarks for energy efficiency, with the goal of securing yearly savings of $11.4 billion for consumers on their energy and water expenses. The proposed laws, scheduled to be implemented in 2029, are designed to cut off 501 million metric tons of CO2 over three decades, which is equivalent to the annual emissions of 63 million households, or approximately 50% of all residences in the United States, thereby saving Americans $198 billion. Consequently, the escalating governmental efforts to endorse eco-friendly water heaters are propelling the growth of this particular market segment.

Get Your Tankless Water Heater Market Report Here:
https://www.thebusinessresearchcompany.com/report/tankless-water-heater-global-market-report

What is the projected compound annual growth rate (CAGR) of the tankless water heater market from 2025 to 2034, and what factors influence it?
The market size for tankless water heaters has seen a significant surge in growth in the past few years. The market is expected to expand from $4.55 billion in 2024 to $4.95 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. The surge in growth during the historic period can be linked to concerns over energy efficiency, compact designs that save space, increased lifespan, an uninterrupted supply of hot water, and an overall rise in consumer awareness.

In the coming years, the market size for tankless water heaters is predicted to witness robust growth, reaching $6.52 billion by 2029 with a compound annual growth rate (CAGR) of 7.1%. This growth projection can be attributed to factors such as the integration of smart homes, efforts towards water conservation, the introduction of hybrid tankless systems, expansion in commercial applications, and increasing affordability. The trend forecast highlights advancements in technology, the integration of smart technologies, compact space-saving designs, hybrid tankless systems, and the development of advanced water heating technologies.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13743&type=smp

How are the latest trends influencing the growth of the tankless water heater market?
Leading companies in the tankless water heater industry, such as the German-based Bosch Thermotechnology, are focusing on producing innovative products like electric tankless water heaters to better cater to their customer needs. These heaters heat water on demand, using electricity as their primary energy source. For example, in January 2023, Bosch launched two models: Tronic 4000 C and Tronic 6100 C. The Tronic 4000 C is unique due to its compact size, energy efficiency, and design tailored for point-of-use and under-sink installations. Measuring only 8.5" X 13" and weighing a mere 4.4 lbs., this product can be conveniently fitted under the sink. As it operates only on electricity and doesn't require a water tank, the Tronic 4000 C requires virtually no maintenance and is an ideal option for those needing space-saving and easy-to-use solutions. On the other hand, the Tronic 6100 C is equipped to supply on-demand hot water to an entire household. This innovative model from Bosch combines energy-saving capabilities with ease of use in a sleek, easy-to-install design, suitable for whole-house applications, guaranteeing a consistent and efficient hot water source.

What are the major segments of the tankless water heater market and their role in driving growth?
The tankless water heater market covered in this report is segmented -

1) By Type: Condensing, Non-Condensing
2) By Energy Source: Electric, Gas
3) By Application: Residential, Commercial

Subsegments:
1) By Condensing: Natural Gas Condensing Water Heaters, Propane Condensing Water Heaters
2) By Non-Condensing: Natural Gas Non-Condensing Water Heaters, Propane Non-Condensing Water Heaters, Electric Non-Condensing Water Heaters

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13743

Europe was the largest region in the tankless water heater market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the tankless water heater market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the tankless water heater market?
Major companies operating in the tankless water heater market report are Robert Bosch GmbH, General Electric, Haier Group Corporation, Honeywell International Inc., Whirlpool Corporation, Paloma Industries Ltd., Westinghouse Electric Corporation, Vaillant Group, A.O. Smith Corporation, Rinnai Corporation, Ariston Thermo Group, Rheem Manufacturing Company, Stiebel Eltron GmbH & Co. KG, Bajaj Electricals Ltd., Groupe Atlantic, Ferroli S.p.A., V-Guard Industries Ltd., Bradford White Corporation, Noritz Corporation, EcoSmart Green Energy Products, Inc., Navien Inc., Hubbell Electric Heater Company, Laars Heating Systems, Eccotemp Systems LLC, Takagi Industrial Co. Ltd.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=13743&type=smp

What Is Covered In The Tankless Water Heater Global Market Report?

•Market Size Forecast: Examine the tankless water heater market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the tankless water heater market for a structured understanding.
•Key Players Overview: Analyze major players in the tankless water heater market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the tankless water heater market.
•Segment Contributions: Evaluate how different segments drive overall growth in the tankless water heater market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the tankless water heater market.
•Industry Challenges: Identify potential risks and obstacles affecting the tankless water heater market.
•Competitive Landscape: Review strategic developments in the tankless water heater market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.