PUBLISHER: KBV Research | PRODUCT CODE: 1871397
PUBLISHER: KBV Research | PRODUCT CODE: 1871397
Asia Pacific Tankless Water Heater Market Size, Share & Industry Analysis Report By Product (Electric, and Gas), By Application (Residential, and Commercial), By Country and Growth Forecast, 2025 - 2032
The Asia Pacific Tankless Water Heater Market would witness market growth of 10.2% CAGR during the forecast period (2025-2032).
The China market dominated the Asia Pacific Tankless Water Heater Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $837.8 million by 2032. The Japan market is registering a CAGR of 9.5% during (2025 - 2032). Additionally, The India market would showcase a CAGR of 11% during (2025 - 2032). The China and Japan led the Asia Pacific Tankless Water Heater Market by Country with a market share of 36.9% and 18.9% in 2024. The Singapore market is expected to witness a CAGR of 12.3% during throughout the forecast period.
The Asia-Pacific tankless water heater market is expanding rapidly, driven by urbanisation, rising incomes, and growing regulatory emphasis on energy efficiency. Historically dominated by storage-tank systems, the region is now transitioning toward compact, high-efficiency, and smart-enabled tankless units. Regulatory developments-such as Singapore's 2025 MEPS for all household water heaters and Japan's METI standards targeting higher thermal efficiency-are accelerating adoption and innovation. Markets like India and Southeast Asia are also embracing tankless systems for space-saving and energy-efficient applications in urban housing. The convergence of policy momentum, technological advancement, and shifting consumer behaviour has made tankless systems a mainstream alternative to traditional models.
Strategically, manufacturers are focusing on compliance, localisation, and digital innovation to strengthen competitiveness across diverse markets. Companies are expanding local production, customising designs to regional needs, and building strong installer and retail ecosystems. Education and awareness initiatives emphasising lifecycle savings and retrofit suitability are helping overcome traditional barriers. As hybrid and condensing technologies mature and smart-home integration increases, tankless systems are emerging as key components of Asia-Pacific's sustainable, energy-efficient housing landscape, marking the segment's evolution from niche to mass-market relevance.
Product Outlook
Based on Product, the market is segmented into Electric, and Gas. The Electric market segment dominated the China Tankless Water Heater Market by Product is expected to grow at a CAGR of 7.9 % during the forecast period thereby continuing its dominance until 2032. Also, The Gas market is anticipated to grow as a CAGR of 10.1 % during the forecast period during (2025 - 2032).
Application Outlook
Based on Application, the market is segmented into Residential, and Commercial. With a compound annual growth rate (CAGR) of 10.7% over the projection period, the Residential Market, dominate the India Tankless Water Heater Market by Application in 2024 and would be a prominent market until 2032. The Commercial market is expected to witness a CAGR of 11.7% during (2025 - 2032).
Country Outlook
As cities grow, incomes rise, and people want energy-efficient, space-saving solutions, China's tankless water heater market is growing quickly. China's dense urban housing and modernization trends make compact on-demand units a good choice. They provide instant hot water and cut down on standby losses. The China Energy Label program and other government programs are raising awareness and encouraging people to buy energy-efficient appliances. Models that run on both electricity and gas are growing, thanks to strong domestic manufacturing and innovation. But there are still problems, such as higher upfront costs, installers with different levels of experience, and differences in service between regions. Competition is getting tougher between cost-effective domestic companies and high-end international brands. To be successful, companies need to focus on localization, training installers, and providing great after-sales service. Tankless systems are becoming an important part of China's modern, energy-conscious housing landscape as people learn more about them.
List of Key Companies Profiled
- Rheem Manufacturing Company
- Bradford White Corporation
- Robert Bosch GmbH
- Rinnai Corporation
- EcoSmart Green Energy Products, Inc.
- Stiebel Eltron GmbH & Co. KG
- Noritz Corporation
- Kyungdong Navien Co., Ltd.
- Takagi Seiko Co., Ltd.
- A. O. Smith Corporation
Asia Pacific Tankless Water Heater Market Report Segmentation
By Product
- Electric
- Gas
By Application
- Residential
- Commercial
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Asia Pacific Tankless Water Heater Market, by Product
- 1.4.2 Asia Pacific Tankless Water Heater Market, by Application
- 1.4.3 Asia Pacific Tankless Water Heater Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Market Trends - Asia Pacific Tankless Water Heater Market
Chapter 5. State of Competition - Asia Pacific Tankless Water Heater Market
Chapter 6. Value Chain Analysis of Tankless Water Heater Market
Chapter 7. Competition Analysis - Global
- 7.1 Strategies Deployed in Tankless Water Heater Market
- 7.2 Porter Five Forces Analysis
Chapter 8. Product Life Cycle - Tankless Water Heater Market
Chapter 9. Market Consolidation - Tankless Water Heater Market
Chapter 10. Key Customer Criteria - Tankless Water Heater Market
Chapter 11. Asia Pacific Tankless Water Heater Market by Product
- 11.1 Asia Pacific Electric Market by Country
- 11.2 Asia Pacific Gas Market by Country
Chapter 12. Asia Pacific Tankless Water Heater Market by Application
- 12.1 Asia Pacific Residential Market by Country
- 12.2 Asia Pacific Commercial Market by Country
Chapter 13. Asia Pacific Tankless Water Heater Market by Country
- 13.1 China Tankless Water Heater Market
- 13.1.1 China Tankless Water Heater Market by Product
- 13.1.2 China Tankless Water Heater Market by Application
- 13.2 Japan Tankless Water Heater Market
- 13.2.1 Japan Tankless Water Heater Market by Product
- 13.2.2 Japan Tankless Water Heater Market by Application
- 13.3 India Tankless Water Heater Market
- 13.3.1 India Tankless Water Heater Market by Product
- 13.3.2 India Tankless Water Heater Market by Application
- 13.4 South Korea Tankless Water Heater Market
- 13.4.1 South Korea Tankless Water Heater Market by Product
- 13.4.2 South Korea Tankless Water Heater Market by Application
- 13.5 Singapore Tankless Water Heater Market
- 13.5.1 Singapore Tankless Water Heater Market by Product
- 13.5.2 Singapore Tankless Water Heater Market by Application
- 13.6 Malaysia Tankless Water Heater Market
- 13.6.1 Malaysia Tankless Water Heater Market by Product
- 13.6.2 Malaysia Tankless Water Heater Market by Application
- 13.7 Rest of Asia Pacific Tankless Water Heater Market
- 13.7.1 Rest of Asia Pacific Tankless Water Heater Market by Product
- 13.7.2 Rest of Asia Pacific Tankless Water Heater Market by Application
Chapter 14. Company Profiles
- 14.1 Rheem Manufacturing Company
- 14.1.1 Company Overview
- 14.2 Bradford White Corporation
- 14.2.1 Company Overview
- 14.3 Robert Bosch GmbH
- 14.3.1 Company Overview
- 14.3.2 Financial Analysis
- 14.3.3 Segmental and Regional Analysis
- 14.3.4 Research & Development Expenses
- 14.3.5 SWOT Analysis
- 14.4 Rinnai Corporation
- 14.4.1 Company Overview
- 14.4.2 Financial Analysis
- 14.4.3 Recent strategies and developments:
- 14.4.3.1 Product Launches and Product Expansions:
- 14.5 EcoSmart Green Energy Products, Inc.
- 14.5.1 Company Overview
- 14.5.2 Recent strategies and developments:
- 14.5.2.1 Product Launches and Product Expansions:
- 14.6 Stiebel Eltron GmbH & Co. KG
- 14.6.1 Company Overview
- 14.6.2 Recent strategies and developments:
- 14.6.2.1 Partnerships, Collaborations, and Agreements:
- 14.7 Noritz Corporation
- 14.7.1 Company Overview
- 14.7.2 Financial Analysis
- 14.7.3 Recent strategies and developments:
- 14.7.3.1 Product Launches and Product Expansions:
- 14.8 Kyungdong Navien Co., Ltd.
- 14.8.1 Company Overview
- 14.9 Takagi Seiko Co., Ltd.
- 14.9.1 Company Overview
- 14.9.2 SWOT Analysis
- 14.10. A. O. Smith Corporation
- 14.10.1 Company Overview
- 14.10.2 Financial Analysis
- 14.10.3 Regional Analysis
- 14.10.4 Recent strategies and developments:
- 14.10.4.1 Product Launches and Product Expansions:
LIST OF TABLES
- TABLE 1 Asia Pacific Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 2 Asia Pacific Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 3 Key Customer Criteria - Tankless Water Heater Market
- TABLE 4 Asia Pacific Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 5 Asia Pacific Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 6 Asia Pacific Electric Market by Country, 2021 - 2024, USD Million
- TABLE 7 Asia Pacific Electric Market by Country, 2025 - 2032, USD Million
- TABLE 8 Asia Pacific Gas Market by Country, 2021 - 2024, USD Million
- TABLE 9 Asia Pacific Gas Market by Country, 2025 - 2032, USD Million
- TABLE 10 Asia Pacific Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 11 Asia Pacific Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 12 Asia Pacific Residential Market by Country, 2021 - 2024, USD Million
- TABLE 13 Asia Pacific Residential Market by Country, 2025 - 2032, USD Million
- TABLE 14 Asia Pacific Commercial Market by Country, 2021 - 2024, USD Million
- TABLE 15 Asia Pacific Commercial Market by Country, 2025 - 2032, USD Million
- TABLE 16 Asia Pacific Tankless Water Heater Market by Country, 2021 - 2024, USD Million
- TABLE 17 Asia Pacific Tankless Water Heater Market by Country, 2025 - 2032, USD Million
- TABLE 18 China Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 19 China Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 20 China Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 21 China Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 22 China Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 23 China Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 24 Japan Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 25 Japan Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 26 Japan Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 27 Japan Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 28 Japan Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 29 Japan Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 30 India Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 31 India Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 32 India Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 33 India Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 34 India Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 35 India Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 36 South Korea Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 37 South Korea Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 38 South Korea Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 39 South Korea Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 40 South Korea Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 41 South Korea Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 42 Singapore Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 43 Singapore Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 44 Singapore Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 45 Singapore Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 46 Singapore Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 47 Singapore Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 48 Malaysia Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 49 Malaysia Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 50 Malaysia Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 51 Malaysia Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 52 Malaysia Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 53 Malaysia Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 54 Rest of Asia Pacific Tankless Water Heater Market, 2021 - 2024, USD Million
- TABLE 55 Rest of Asia Pacific Tankless Water Heater Market, 2025 - 2032, USD Million
- TABLE 56 Rest of Asia Pacific Tankless Water Heater Market by Product, 2021 - 2024, USD Million
- TABLE 57 Rest of Asia Pacific Tankless Water Heater Market by Product, 2025 - 2032, USD Million
- TABLE 58 Rest of Asia Pacific Tankless Water Heater Market by Application, 2021 - 2024, USD Million
- TABLE 59 Rest of Asia Pacific Tankless Water Heater Market by Application, 2025 - 2032, USD Million
- TABLE 60 Key Information - Rheem Manufacturing Company
- TABLE 61 Key Information - Bradford White Corporation
- TABLE 62 Key Information - Robert Bosch GmbH
- TABLE 63 Key Information - Rinnai Corporation
- TABLE 64 Key Information - EcoSmart Green Energy Products, Inc.
- TABLE 65 Key Information - Stiebel Eltron GmbH & Co. KG
- TABLE 66 Key Information - Noritz Corporation
- TABLE 67 Key Information - Kyungdong Navien Co., Ltd.
- TABLE 68 key Information - Takagi Seiko Co., Ltd.
- TABLE 69 Key Information - A. O. Smith Corporation
LIST OF FIGURES
- FIG 1 Methodology for the research
- FIG 2 Asia Pacific Tankless Water Heater Market, 2021 - 2032, USD Million
- FIG 3 Key Factors Impacting asia pacific Tankless Water Heater Market
- FIG 4 Value Chain Analysis of Tankless Water Heater Market
- FIG 5 Porter's Five Forces Analysis - Tankless Water Heater Market
- FIG 6 Product Life Cycle - Tankless Water Heater Market
- FIG 7 Market Consolidation - Tankless Water Heater Market
- FIG 8 Key Customer Criteria - Tankless Water Heater Market
- FIG 9 Asia Pacific Tankless Water Heater Market share by Product, 2024
- FIG 10 Asia Pacific Tankless Water Heater Market share by Product, 2032
- FIG 11 Asia Pacific Tankless Water Heater Market by Product, 2021 - 2032, USD Million
- FIG 12 Asia Pacific Tankless Water Heater Market share by Application, 2024
- FIG 13 Asia Pacific Tankless Water Heater Market share by Application, 2032
- FIG 14 Asia Pacific Tankless Water Heater Market by Application, 2021 - 2032, USD Million
- FIG 15 Asia Pacific Tankless Water Heater Market share by Country, 2024
- FIG 16 Asia Pacific Tankless Water Heater Market share by Country, 2032
- FIG 17 Asia Pacific Tankless Water Heater Market by Country, 2021 - 2032, USD Million
- FIG 18 SWOT Analysis: Robert Bosch GmbH
- FIG 19 SWOT Analysis: Takagi Seiko Co., Ltd.
