Tankless Water Heater Market Report: Industry Analysis, Trends, and...

Tankless Water Heater Market Report: Industry Analysis, Trends, and Forecast 2022-2030

Posted 2024-12-27 10:23:12

Tankless Water Heater Market Report: Industry Analysis, Trends, and Forecast 2022-2030

Market Definition

refers to the industry that manufactures and supplies on-demand water heating systems. These systems heat water only when needed, eliminating the need for storage tanks. Tankless water heaters are energy-efficient, space-saving, and provide a continuous supply of hot water.

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Latest Trends

The tankless water heater market is driven by the increasing demand for energy-efficient and eco-friendly solutions. Some of the latest trends in the market include:

Growing adoption of smart home technology, leading to increased demand for Wi-Fi enabled tankless water heaters.

Rising popularity of condensing tankless water heaters, which offer higher efficiency and lower emissions.

Increasing focus on product innovation, with manufacturers developing new features such as voice control and remote monitoring.

Market Size and Forecast

The global tankless water heater market size was valued at USD 3.58 Billion in 2021 and is projected to reach from USD XX Billion in 2022 to USD 6.84 Billion by 2030, growing at a CAGR of 7.45% during the forecast period (2022–2030).

Market Segmentation

The tankless water heater market is segmented based on type, product, application, and location.

By Type

Condensing

Non-Condensing

By Product

Electric

By Application

Residential

Commercial

By Location

Indoor

Outdoor

Growth Factors

The tankless water heater market is driven by several growth factors, including:

Increasing demand for energy-efficient solutions

Growing adoption of smart home technology

Rising popularity of condensing tankless water heaters

Increasing focus on product innovation

Opportunities

The tankless water heater market presents several opportunities for growth and development, including:

Increasing demand from emerging markets

Growing adoption of tankless water heaters in commercial applications

Rising popularity of electric tankless water heaters

Increasing focus on sustainability and eco-friendliness

Table of Contents for the Tankless Water Heater Market Report: https://straitsresearch.com/report/tankless-water-heater-market/toc

Key Players

Some of the key players in the tankless water heater market include:

The Rheem Manufacturing Company

Rinnai Corporation

Smith

Noritz America Corp.

Ariston Thermo Group

Kyungdong Navien Co. Ltd

Stiebel Eltron GmbH & Co. KG

Bradford White Corp.

Haier Electronics Group Co. Ltd.

About Straits Research

Straits Research is a market research and consulting company that provides actionable insights and accurate statistics to help businesses grow. Our team of experts provides comprehensive research reports and consulting services to help clients make informed decisions. We provide reports on various industries, including energy, technology, healthcare, and more.