Tankless Water Heater Market 2017 by Current & Upcoming Trends 2024

Pune, India, 25th September 2017: WiseGuyReports announced addition of new report, titled “Global Tankless Water Heater Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024”.

Market Overview

Tankless water heater is an example of unique & innovative consumer appliance with specific technical feature helps in saving energy. Tankless water heater is a substitute for conventional tank or storage water heater where large amount of water was heated for hot-water supply resulting in the loss of thermal energy. Tankless water heaters overcome such inefficiencies by distinct feature of supplying hot water on demand without any storage tank. Tankless water heater is mainly equipped with sensors which detect the flow and demand of water and initiate water heating process.

 

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Electric Tankless water heater with temperature limiting controlled (TLC) device becoming more popular. Key market players are investing in developing innovative products which is likely to increase the market competitiveness and eventually will boost the demand for tankless water heater. For instance, Rheem are focusing on vast technology like recirculation in tankless water heater which not only provide instant hot water for consumer but can also save 12,000 gallons water per year for the average household. Rinnai, leading manufacturer of gas appliances, are offering tankless water heaters which can be monitored remotely and controlled by smart devices.

 

Key Market Players

• A.O. Smith Corporation

o Synopsis

o Business Strategy

o Product Portfolio

o SWOT Analysis

• Bosch

• Noritz Corporation

• Rinnai Corporation

• Bradford White Corporation

• Rheem Manufacturing Company

• General Electric

• Havells

• ATMOR

• Stiebel Eltron GmbH & Co. KG.

• Kyungdong Navien Co.,Ltd.

• Haier Electronics Group Co, Ltd

• Bajaj Electricals Ltd.

 

Market Segmentation

Global Tankless Water Heater Market is segmented on the following basis:

• Based on Product Type

o Gas Tankless Water Heater

o Electric Tankless Water Heater

• Based on Installation

o Indoor Tankless Water Heater

o Outdoor Tankless Water Heater

• Based on Technology

o Condensing Technology

o Non- Condensing Technology

• Based on End-User

o Residential

o Commercial

• Based on Country

o North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Latin America (Brazil, Mexico & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

o Rest of World {Market Size (USD Billion), Growth Analysis (%) and Sales (In Units)}

Market Size and Forecast (2016-2024)

 

Global tankless water heater market valued USD 16.9 billion in 2016, and is projected to grow at a CAGR of 5.0 % during the forecast period.

 

Geographically, North America occupies largest share of global market of tankless water heater and expected to take over more than 45% market share of global tankless water heater by the end of 2024. High installation of tankless water heaters in U.S. and Canada to save energy is expected to increase the demand in North America region. Europe tankless water heater market is expected to grow at a CAGR of 3.4% during the forecast period. Germany accounts for the major share of the market owing to the maximum number of installations of tankless water heaters in the region. Gas tankless water heater has occupied 54% share of European market whereas 46% is occupied by electric tankless water heaters in 2016. However, electric tankless water heaters have achieved high penetration in European market in past few years. Over 36% of residential users of Europe adopted for electric tankless water heater in 2015.

 

Market Drivers and Challenge

Tankless water heater provides space effectiveness and easy installation with low operation & maintenance cost. Availability of the replaceable parts, long durability and energy efficiency are key factors to increase the market demand of tankless water heater.

 

However, high initial cost of cost tankless water heaters is inhibiting their potential market demand across the globe. Replacement of equipments installed in residential areas can be complex and may become costly issue with the engagement of more space and proper drainage of water. Also lack of knowledge to contractors and homebuilders regarding the installation of tankless water heaters tends to confine the promotion for electric tankless water heaters.

 

Opportunities

 Introduction of new products with proper design as per demand and ease of installation can expand the global market of tankless water heater. Tankless water heater is the fastest growing market in plumbing industry which is also environment friendly and cost effective. More investment in R&D can also foster the demand during forecast period

 

 The declining cost of natural gas in North America region is considered as biggest opportunities for manufacturer to opt and promote usage of energy-efficient electric tankless water heater

 

Scope Background

Market Synopsis

Market Segmentation

The Global Tankless Water Heater Market is segmented as follows:

• By Product Types (Market Size, Demand Analysis and Growth Analysis)

• By Installation Types (Market Size, Demand Analysis and Growth Analysis)

• By Technology Types (Market Size, Demand Analysis and Growth Analysis)

• By End-User (Market Size, Demand Analysis and Growth Analysis)

 

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors

• Regional Variations

• Recent Trends and Developments

Key Market Players

• Synopsis

• Business Strategy

• Product Portfolio

• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks

 

Table of Content: Key Points

 

1. Executive Summary

2. Research Methodology

3. Regional Opportunity Analysis on the basis of Competitors

4. Global Tankless Water Heater Market (USD Billion) and Forecast Analysis, 2016-2024

5. Market Dynamics: Growth Drivers, Restraints and Opportunities

6. Global Tankless Water Heater Market Segmentation

…Continued        

 

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