Global Instant Water Heater Market: Global Industry Trends, Share, Size, Growth and Forecast Till 2027
According to the latest report by IMARC Group, titled “Instant Water Heater Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global instant water heater market reached a value of US$ 3.13 Billion in 2021. An instant water heater refers to a device that heats water instantly through an electric heating unit or gas. It is also known as a tankless water heater and consists of a draft divider, hot water outlet, pressure relief valves, tanks, flue pipe and dip tubes. The heated water is widely used for various purposes, such as hot water showers, removing stains, washing dishes and clothes, and cleaning and relieving clogged drains. An instant water heater also consists of a water flow sensor that starts automatically when it detects the water flow. As compared to traditional water heaters, instant water heaters are more cost-efficient, convenient, energy-efficient, and compact. As a result, they are extensively used in households, hotels, restaurants and hospitals.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report
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Increasing infrastructure projects across
the globe is one of the key factors creating a positive outlook for the market.
This can be further attributed to the development of zero-emission buildings
and the rising number of smart cities. In line with this, the increasing
environmental concerns have further facilitated their widespread product
adoption across sectors due to their energy-efficient properties is positively
impacting the market growth. Apart from this, various advances in technologies,
such as the integration of artificial intelligence (AI) and smart features,
including leak detection systems, mobile remote controlling software, and
multiple communication options, are providing a thrust to the market growth.
Additionally, the launch of advanced sterilization and water filtration
technologies to improve the overall filtration and purity of water is favoring
the market growth. Furthermore, the increasing product demand in the
hospitality industry for cleaning, laundry, and supplying hot water in
bathrooms, kitchens and swimming pools is driving the market growth. Other
factors, including the rising expenditure capacities of consumers and
widespread product adoption in the medical industry are anticipated to drive
the market toward growth. On account of the aforementioned factors, the market
is anticipated to reach a value of US$ 4.92 Billion by 2027, growing at a CAGR
of 7.20% during 2022-2027.
Market
Summary:
·
On the basis
of the product type, the market has been bifurcated into gas and electric
instant water heaters.
·
Based on the
distribution channel, the market has been classified into supermarkets and
hypermarkets, specialty stores, convenience stores, and online stores.
·
On the basis
of the application, the market has been divided into commercial, residential,
and industrial.
·
Based on the
region, the market has been categorized into North America (the United States
and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia,
Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy,
Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle
East and Africa.??
·
The
competitive landscape of the market has been studied in the report with the
detailed profiles of the key players operating in the market. Some of these
players include 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 Market Segmentation:
IMARC Group provides an analysis of the key trends
in each sub-segment of the global instant water heater market,
along with forecasts at the global, regional and country level from 2022-2027.
Our report has categorized the market based on product type, distribution
channel and application.
Competitive Landscape:
·
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.
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
·
North America
(United States, Canada)
·
Europe (Germany,
France, United Kingdom, Italy, Spain, Others)
·
Asia Pacific (China,
Japan, India, Australia, Indonesia, Korea, Others)
·
Latin America
(Brazil, Mexico, Others)
·
Middle East and
Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market
Performance (2016-2021)
- Market
Outlook (2022-2027)
- Market
Trends
- Market
Drivers and Success Factors
- The
Impact of COVID-19 on the Global Market
- Value
Chain Analysis
- Structure
of the Global Market
- Comprehensive
mapping of the competitive landscape
If
you need specific information that is not currently within the scope of the
report, we will provide it to you as a part of the customization.
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and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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