Market Research Report
Tankless Water Heater Market 2020-2026
|Tankless Water Heater Market 2020-2026|
Published: September 15, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Full-title:Global Tankless Water Heater Market Size, Share & Trends Analysis Report by Product Type (Electric Water Heater and Gas Water Heater), by Application (Residential and Commercial) and Forecast 2020-2026.
The global tankless water heater market is estimated to grow significantly during the forecast period. Extreme climatic conditions along with rising industrialization combinedly drive the demand for water heaters across the globe that further ac as a driving factor for the market. Moreover, the replacement of existing water heating systems with compact design and more efficient systems such as heat pump water heaters (HPWH), makes the deployment of water heaters inevitable in the commercial and industrial sector further provide a significant opportunity to the market. However, the inclination towards energy-efficient water heater such as a solar water heater further projected to hinder the market growth during the forecast period.
The global market for the tankless water heater is further classified on the basis of product type and application. Based on the product type, the market is further classified into an electric water heater and gas water heater. The electric water heater segment is projected to have a significant CAGR in the global tankless water heater market. The key factor driving the market of the electric tankless water heater market is that the electric heater does not possess the danger of exploding due to gas leak. In addition to this, electric water heaters allow hassle-free installation leading to an increase in market growth for tankless electric water heaters. On the basis of application, the market is further segregated into residential and commercial. Based on geography, the global tankless water heater market is further segregated into North America, Europe, Asia-Pacific and the Rest of the World. Among, region Asia-Pacific is projected to have a considerable share in the global electric water heater market.
The companies which are contributing to the growth of the global tankless water heater market include A.O. Smith Corp., Bajaj Electricals Ltd., Haier electronics group Co., Ltd., Havells India Ltd., General Electric Co., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.
The market study of the global tankless water heater market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report is intended for tankless water heater providers, end-user for overall market analysis, and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.
The Report Covers: