Tankless Water Heater Market

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TANKLESS WATER HEATER MARKET ANALYSIS

• Tankless Water Heater Market, By Technology
  (Condensing, Non-Condensing), By Energy Source
  (Electric, Gas), By Energy Factor (0 to 0.79 EF,
  0.80 to 0.89 EF, 0.90 EF and Above), By Location
  (Indoor, Outdoor), By End User (Residential, Comme
  rcial), and By Region (North America, Latin
  America, Europe, Asia Pacific, Middle East
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2019 - 2027

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• Tankless water heaters also referred to as
  demand-type water heaters or an instant water
  heater that provides hot water instantly or
  on-demand. These water heaters can be installed
  in a closet or on exterior walls and can give the
  endless source of hot water by while saving money
  on energy by heating or reheating the same tank.
  Tankless water heaters are widely used across
  residential as well as commercial spaces.
  Tankless water heaters are highly durable and can
  be last for many years. Moreover, it lowers the
  energy bills by up to saving 40energy as these
  heaters are highly efficient.
• The global tankless water heater market is
  estimated to account for US 29.7 billion in
  terms of revenue by the end of 2027, growing at a
  CAGR of 5.4 during the forecast period
  (2019-2027)
• Drivers
• Rising construction activities around the globe
  coupled with the increasing investment by
  government in the construction industry especially
  in the Asia Pacific region is a prime factor
  fueling the market growth of tankless water
  heaters. According to the report published by
  Globaldata in October 2018, the global
  construction output is forecast to rise to US
  12.9 trillion by 2022, up from US 10.8 trillion
  in 2017. Therefore, rising construction industry
  around the globe is projected to propel the
  market growth tankless water heaters.

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• Market Restraints
• High investment cost and also the high cost of
  the tankless water heaters compared to the
  traditional water heater is also expected
  to hinder the market growth over the forecast
  period. Moreover, other factors such as
  unavailability of suitable equipment and
  fluctuation in the supply of natural gas or
  propane is also expected to restrain the market
  growth of the tankless water heaters over the
  forecast timeframe.
• The smaller units won't produce enough hot water
  to the household, for example, they only serve
  one faucet at a time. However, there are larger
  units also available that serve enough hot water
  to households, but they are expensive. This
  factor is expected to hinder the market growth of
  tankless water heaters. Moreover, the large unit
  also utilizes high-powered burners and require
  special venting a requirement which is further
  expected to restrict the market growth.

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Figure 1.  Global Tankless Water Heater Market,
Revenue Share (), By Region, 2018
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• Market Opportunities
• Rising replacement of existing water heaters with
  tankless water heaters is anticipated to offer
  immense opportunity over the forecast period.
  Government rebates and subsidize along with the
  changing perception of consumers towards advanced
  heaters are further promoting the replacement of
  traditional water heaters with tankless water
  heaters. Hence, increasing replacement of
  existing water heaters across residential as well
  as commercial places are projected to propel the
  market growth.
• Rising demand of hybrid-tankless water heaters
  that have easy operation and installation is
  expected to propel the market growth over the
  forecast period. Moreover, the integration of
  regular features of conventional water heaters
  with energy and cost-effective tankless water
  heaters is expected to offer immense growth
  opportunities for manufacturers as well as the
  customer. Therefore, the rising adoption of
  hybrid tankless water heaters is expected to
  foster market growth. 

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Figure 2. Global Tankless Water Heater Market
Opportunity Analysis
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• Key Takeaways
• The increasing introduction of multi-utility
  systems by the manufacturer is anticipated to
  augment the market growth over the forecast
  period. Rising demand for energy-efficient
  systems that save money, space, and efforts,
  manufacturers are introducing a multi-utility
  tankless water heaters system that not only heats
  the water but also fulfill the other needs. For
  example, in recent years, tankless water heaters
  have been paired with paired air conditioning or
  handling systems for space heating in recent
  years.
• The rising focus of manufacturers on
  strengthening the distribution channel through
  e-commerce is a major trend that has been
  observed in the market. For instance, in March
  2019, the Indian water heater brand Racold builds
  an e-Commerce campaign around misspelled search
  keywords. This step will help the brand to touch
  newer heights and witness great success.
  Therefore, the rising focus of manufacturers in
  strengthening the distribution channel is
  projected to foster market growth.

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Figure 3. Global Tankless Water Heater Market,
Revenue Share (), By Energy Factor, in 2018
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• On the basis of location, in 2018, indoor segment
  accounted the largest market share of 76.3 in
  terms of revenue, followed by outdoor. Tankless
  water heaters are more compact than traditional
  storage water heaters as a result of which they
  are widely preferred in indoor sections of
  buildings.
• Competitive Section
• Key players active in the market are Rheem
  Manufacturing Company, Rinnai Corporation, A. O.
  Smith, Noritz America Corp., Ariston Thermo
  Group, Kyungdong Navien Co., Ltd., Stiebel Eltron
  GmbH Co. KG, Bradford White Corp., Haier
  Electronics Group Co, Ltd., and Bajaj Electricals
  Ltd.
• Few Recent Developments
• AO Smith Corporation
• In January 2016, the company launched Simplicity
  Series of concentric venting, non-condensing
  tankless water heaters. The new water heater is
  designed to make installation simple through new
  gas convertible combustion systems.

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