UK tankless water heater market is projected to grow at a significant during the forecast period. The market growth is mainly backed by the growing demand for energy-efficient and convenient water heater heating systems in the commercial sector. Moreover, the government is working towards encouraging consumers to use energy-efficient water heaters that can support to save energy. In this context, EPA’s Energy Program is intended to save energy and protecting the environment and they recommended the use of a gas water heater. These initiatives for the energy-efficient water heating solutions further provide a significant opportunity to the market.
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These rebates for energy-efficient water heaters have been provided to encourage residential users to use energy-efficient water heater as heating water in the homes consumes a large amount of energy. Tankless water heaters have a life expectancy of 20 years which is much longer than any traditional tank-type water heater. As it is a tankless model, there is no risk associated with tank leaks and water damage. ENERGY STAR certified tankless water heaters can save $95 annually or $1,800 over its lifetime on gas bills rather than using a standard gas model. These rebates are primarily encouraging residential users to adopt ENERGY STAR water heaters for energy consumption.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected region/segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
UK Tankless Water Heater Market – Segmentation
By Product Type
- Electric Water Heater
- Gas Water Heater
By Application
- Residential
- Commercial
A full report of UK Tankless Water Heater Market is available at: https://www.omrglobal.com/industry-reports/uk-tankless-water-heater-market
