The global instant water heater market size reached US$ 3.7 Billion in 2023. Looking forward, the market is projected to reach US$ 6.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.28% during 2023-2032.
An instant water heater, or tankless water heater, is a device used to instantly heat cold water through gas or electrical heating unit. It consists of a hot water outlet, flue pipe, draft divider, pressure relief valves, dip tubes and tanks. It also includes a water flow sensor that starts automatically when it detects the water flow. The heated water is utilized for various purposes, such as cleaning, washing clothes, dishwashers, hot water showers, cooking, removing stains and relieving clogged drains. In comparison to traditional water heaters, instant water heaters are easy to install, cost-effective, convenient, compact and energy efficient. They also heat faster through a small-sized heating chamber.
In line with this, the introduction of advanced water filtration and sterilization technologies to improve the overall filtration and purity of water is positively impacting the market growth. Other factors, including the widespread product utilization in the medical industry for bathing patients, along with the implementation of various government initiatives toward adoption of energy-efficient technologies, are anticipated to drive the market toward growth.
2. What is the expected growth rate of the global instant water heater market during 2024-2032?
3. What are the key factors driving the global instant water heater market?
4. What has been the impact of COVID-19 on the global instant water heater market?
5. What is the breakup of the global instant water heater market based on the product type?
6. What is the breakup of the global instant water heater market based on the distribution channel?
7. What is the breakup of the global instant water heater market based on the application?
8. What are the key regions in the global instant water heater market?
9. Who are the key players/companies in the global instant water heater market?
An instant water heater, or tankless water heater, is a device used to instantly heat cold water through gas or electrical heating unit. It consists of a hot water outlet, flue pipe, draft divider, pressure relief valves, dip tubes and tanks. It also includes a water flow sensor that starts automatically when it detects the water flow. The heated water is utilized for various purposes, such as cleaning, washing clothes, dishwashers, hot water showers, cooking, removing stains and relieving clogged drains. In comparison to traditional water heaters, instant water heaters are easy to install, cost-effective, convenient, compact and energy efficient. They also heat faster through a small-sized heating chamber.
Instant Water Heater Market Trends
Significant growth in the hospitality industry across the globe is creating a positive outlook for the market. Instant water heaters are widely used in resorts and hotels for laundry, cleaning and supplying hot water in bathrooms, kitchens and swimming pools. Additionally, the widespread product adoption due to the increasing environmental concerns are favoring the market growth. Instant water heaters are energy efficient and produce lower carbon footprint and emissions. Moreover, the launch of instant water heaters in innovative designs and advanced features, such as mobile temperature control, leak protection alarms and power load control, are providing a thrust to the market growth.In line with this, the introduction of advanced water filtration and sterilization technologies to improve the overall filtration and purity of water is positively impacting the market growth. Other factors, including the widespread product utilization in the medical industry for bathing patients, along with the implementation of various government initiatives toward adoption of energy-efficient technologies, are anticipated to drive the market toward growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global instant water heater market report, along with forecasts at the global, regional and country levels from 2024-2032. The report has categorized the market based on product type, distribution channel, and application.Breakup by Product Type:
- Gas Instant Water Heaters
- Electric Instant Water Heaters
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
Breakup by Application:
- Commercial
- Residential
- Industrial
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being A. O. Smith Corporation, Bradford White, Ferroli S.p.A., Haier Group Corporation, Havells India Limited, Hubbell Incorporated, Nihon Itomic Co. Ltd., Rheem Manufacturing Company (Paloma Co. Ltd.), Rinnai Corporation, Vaillant Group and Whirlpool Corporation.Key Questions Answered in This Report
1. What was the size of the global instant water heater market in 2023?2. What is the expected growth rate of the global instant water heater market during 2024-2032?
3. What are the key factors driving the global instant water heater market?
4. What has been the impact of COVID-19 on the global instant water heater market?
5. What is the breakup of the global instant water heater market based on the product type?
6. What is the breakup of the global instant water heater market based on the distribution channel?
7. What is the breakup of the global instant water heater market based on the application?
8. What are the key regions in the global instant water heater market?
9. Who are the key players/companies in the global instant water heater market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Instant Water Heater Market
6 Market Breakup by Product Type
7 Market Breakup by Distribution Channel
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- A. O. Smith Corporation
- Bradford White
- Ferroli S.p.A.
- Haier Group Corporation
- Havells India Limited
- Hubbell Incorporated
- Nihon Itomic Co. Ltd.
- Rheem Manufacturing Company (Paloma Co. Ltd.)
- Rinnai Corporation
- Vaillant Group
- Whirlpool Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.7 Billion |
| Forecasted Market Value ( USD | $ 6.4 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
