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Tankless Water Heater Market Size Was Valued at US$ 21.66 Bn in 2021

Tankless Water Heater Market Size Was Valued at US$ 21.66 Bn in 2021 - Coherent Market Insights

Publish In: Aug 19, 2022

Global Tankless Water Heater Market is estimated to be valued at US$ 21.66 Billion in 2021, according to the Global Tankless Water Heater Market Report, 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, Commercial),  and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.

Global tankless water heater market was valued at US$ 21.66 Billion in 2021and is expected to register a CAGR of 5.4% over the forecast period (2022–2030). The  Europe region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.

To know the latest trends and insights prevalent in this market, click the link below:

Browse 50 market data tables* and 40 figures* on "Global Tankless Water Heater Market” - Forecast to 2030.

Key Trends and Analysis of the Global Tankless Water Heater Market:

  • Increasing introduction of multi-utility systems by the tankless water heater manufacturers is anticipated to augment the market growth over the forecast period. Rising demand for energy-efficient systems that save money, space, and efforts. tankless water heater 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 air conditioning or handling systems for space heating in five years.
  • The rising focus of manufacturers on strengthening the distribution channel through e-commerce is a major trend that has been observed in market. For instance, in March 2019, the Indian water heater brand Racold built an e-Commerce campaign around misspelled search keywords. Therefore, the rising focus of manufacturers in strengthening the distribution channel is projected to foster market growth.

Key Takeaways of the Global Tankless Water Heater Market:

  • Among Energy Factor, 0.80 to 0.89 EF segment dominated the global tankless water heater market in 2021. 0.80 to 0.89 EF  segment was followed by 0.90 EF and above and 0 to 0.79 EF in terms of revenue share, respectively.
  • Among region, Euope dominated the global tankless water heater market in 2021, reporting 35.6% market share in terms of revenue, followed by Asia-Pacific and North America, respectively.
  • New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global tankless water heater market.

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