Tankless Water Heater Market is projected to have a considerable CAGR of 8.2% during the forecast period. The market is mainly driven by the growing demand for tankless water heater in various residential and commercial sectors due to various benefits over the storage-tank water heater. The tankless water heater 8%-34% more efficient than storage water heaters. They could save $100 or more annually with an ENERGY STAR qualified tankless water heater and have lower operating costs. Moreover, these water heaters significantly reduce standby losses, which in turn, makes them an energy-efficient substitute to conventional water heaters. According to the US Department of Energy (DOE), a gas-fired tankless water heater has the ability to save nearly $108 per year, whereas, an electric model can save up to $44 per year from the electricity bill. Therefore, the tankless water heaters can significantly reduce home energy consumption and can aid customers in saving utility costs thus creating demand in various sector applications.
The global tankless water heater market is segmented based on product type and application. Based on the product type, the market is further classified into an electric water heater and gas water heater. The gas water heater segment is projected to have significant growth during the forecast period. The increasing demand for gas tankless water heaters is due to the factor that gas tankless water heater is more efficient than conventional gas water heaters. Moreover, energy is not lost during the storage as a continuous supply of hot water is maintained which is another factor driving the market of gas tankless water heaters. On the basis of application, the market is further segregated into residential and commercial.
To Request a Sample of our Report on Tankless Water Heater Market: https://www.omrglobal.com/request-sample/tankless-water-heater-market-size
Tankless Water Heater Market Segmentation
By Product Type
- Electric Water Heater
- Gas Water Heater
By Application
- Residential
- Commercial
A full Report of Tankless Water Heater Market is Available @ https://www.omrglobal.com/industry-reports/tankless-water-heater-market-size
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- O. Smith Corp.
- Ariston Thermo SpA
- ATC Electrical and Mechanical, Ltd.
- Atmor
- Bajaj Electricals Ltd.
- Bradford White Corp.
- Crompton Greaves Consumer Electricals Ltd.
- General Electric Co.
- Haier Electronics Group Co., Ltd.
- Havells India Ltd.
- Navien Inc.
- NORITZ Corp.
- Robert Bosch GmbH
- Rheem Manufacturing Company, Inc.
- Rinnai Corp.
- Racold Thermo Pvt. Ltd.
- Stiebel Eltron, Inc.
- Venus home appliance
Reasons to buy from us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
