Global Electric Tankless Water Heater Market to Generate Revenue of USD 1,414.8 Million by 2023: says Research Nester

Rising demand for energy saving and advanced home appliances is the one of the major factors which is driving the growth of electric tankless water heater market across the globe. The rising investment in real estate sector further enhancing the construction and housing sectors with advanced and luxury facilities. The rising luxury residential societies across the globe are likely to boost the demand for energy efficient and advanced home appliances such as electric tankless water heaters.

Global electric tankless water heater market is expected to flourish at an annual compound growth rate (CAGR) of 6.19% during the forecast period i.e. 2016-2023.

The demand from residential sector is slated to dominate the market and is anticipated to have a share of more than 65.22% by 2023. The indoor electric tankless water heater is estimated to remain highest from the residential sector. Spiked growth in residential sector, urbanization and rising adoption of energy saving tankless water heaters across the globe is expected to propel the global electric tankless water heater market in the upcoming years.

Global electric tankless water heater market is segmented on the basis of application type, setup location type, features and region. Based on the application type, the market is further sub-divided into the residential sector and commercial sector electric tankless water heater market. With revenue of USD 620 Million, the residential sector captured the highest share in 2016. Residential sector is further projected to witness the CAGR of 5.83% during the forecast period i.e. 2016-2023.

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The report titled “Global Electric Tankless Water Heater Market Outlook 2023” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

This report also studies existing competitive scenario of some of the key players of electric tankless water Heater market which includes profiling of Rinnai Corporation, Noritz Corporation, Bosch GmbH, A.O. Smith Corporation, Hotter Electric (A subsidiary of Zriha Hlavin Industries Ltd.), Atmor & Eemax, Inc., Stiebel Eltron, Alpha Electric Co. The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Electric Tankless Water Heater Market Outlook 2023”, analyses the overall electric tankless water heater industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in Global Electric Tankless Water Heater Market in near future.

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