Instant Water Heater Market by Energy Source (Electric and Gas), Application (Residential and Commercial), Distribution Channel (Online and Stores), Energy Factor, Technology, and Region - Industry Analysis and Forecast to 2033
The instant water heater market is expected to grow from USD 14.55 billion in 2023 to USD 29.04 billion by 2033 at a CAGR of 7.16%.
Instant Water Heater Market CAGR
2023-2033
CAGR OF
7.16%
Instant Water Heater Market
The instant water heater market has suffered a slow and stagnant growth in the year 2023 due to the pandemic COVID-19 which has severely affected and suspended the construction activities, a major sector for instant water heater demand. However, the post-pandemic situation will witness a spur in the overall market which is anticipated to expand, globally during the forecast period. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the market. The historic years considered for the study are 2018-2021, the base year is 2022, the estimated year is 2023, and the forecast period is 2023-2033.
Instant water heater Market: Market Dynamics
The instant water heater is an advanced technology that has replaced the conventional water heaters that use gas produced thermally. They are more efficient than conventional heaters as they offer instant heating, low maintenance, easy installation, long-lasting features. The rapid increase in the adoption of instant hot water systems such as instant water geyser, portable geyser, and others in the residential and commercial sectors has spurred the overall market. In addition, other several factors are driving the instant hot water market such as less energy consumption when compared to conventional heaters, consumer choice to purchase higher energy factors, the introduction of new innovative designs, and others. However, challenges such as the higher price of the product, cost of installation, awareness about energy-efficient solar heater are considered to be the major restraining factors for the growth of the overall market.
Instant water heater Market: Segmental Analysis
Instant Water Heater Market
By Distribution Channel
XX%
Online
Stores
14.55
Total Market Size
USD (Billion), 2023
7.16%
CAGR
2023 - 2033
The instant water heater market is classified by technology, energy source, distribution channel, energy factor, and region. Based on energy source the market is segmented into an electric instant water heater and gas instant water heater. The electric segment accounted for the largest share in the market and is anticipated to augment the growth during the forecast period owing to more efficiency in installation, maintenance, and others as compared to the gas instant water heater.
Instant Water Heater Market
By Energy Source
Electric
Gas
The Market will Grow
At the CAGR of:
7.16%
The Forecast Market
Size for 2033 in USD:
$29.04B
However, the gas instant water heater will also boost the growth of the market during the forecast period due to the availability of abundant natural gas resources, globally. Based on the energy factor the market is segmented into 0 to 0.79, .8 to 0.89, .9 & higher. Based on technology the market is segmented into condensing and non-condensing.
Instant water heater Market: Regional Analysis
Instant Water Heater Market
By Region
The Market will Grow
At the CAGR of:
7.16%
The Forecast Market
Size for 2033 in USD:
$29.04B
Geographically, the market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Europe accounted for the largest share in the market in 2023 owing to surging demand for energy-efficient products in the commercial sector including hospitals, restaurants, hotels, and others. Asia-Pacific region is expected to augment the business growth in the market during the forecast period owing to factors such as burgeoning awareness leading to increase demand, availability of low-cost labor, high manufacturing capabilities, and others. However, North America is anticipated to witness the fastest CAGR during the forecast period due to increasing awareness regarding ecological products.
Instant water heater Market: Competition Scenario
Key players operating in the instant water heater market are A.O. Smith, Ariston Thermo Group, Bosch Thermotechnology, Bradford White Corporation (BWC), Ferroli S.p.A, Haier Electronics, Hubbell Incorporated, Jaguar, KANCH (HANGZHOU) WATER HEATER CO., LTD., Linuo Ritter International Co., Ltd, Rheem Manufacturing Company, Rinnai Corporation, Saudi Ceramics, State Industries, Vaillant Group, VIESSMANN Manufacturing Company Inc., and Whirlpool Corporation.
Critical Questions Answered in the Report
• What are the key trends in the market? • How the market (and its various sub segments) has grown in the last four years and what would be the growth rate in the next five years? • What are the key strategies adopted by the major vendors to lead in the market? • What is the market share of the top players?
Research Methodology
The research study extensively uses both secondary and primary research methodologies. More than 200 industry leaders from various phases of the value chain (demand side, supply side, resellers/distributors, and other independent consultants) were interviewed to gain crucial insights about this market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, whitepapers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes various algorithms to make projections for the forecast period.
Instant Water Heater Market Scope:
Report Data
Instant Water Heater Market
Instant Water Heater Market Forecast Value 2033
29.04Billion
Instant Water Heater Market CAGR 2023 - 2033
7.16%
Instant Water Heater Market Forecast Period
2023 - 2033
Instant Water Heater Market Base Year
2022
Regional Scope
North America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies Profiled
A.O. Smith, Ariston Thermo Group, Bosch Thermotechnology, Bradford White Corporation (BWC), Ferroli S.p.A, Haier Electronics, Hubbell Incorporated, Jaguar, KANCH (HANGZHOU) WATER HEATER CO., LTD., Linuo Ritter International Co., Ltd, Rheem Manufacturing Company, Rinnai Corporation, Saudi Ceramics, State Industries, Vaillant Group, VIESSMANN Manufacturing Company Inc., and Whirlpool Corporation.
Key Segments
By Energy Source Electric
Gas
By Distribution Channel
Online
Stores
By Application
Residential
Commercial
By Energy Factor
0 to 0.79
.8 to 0.89
.9 & higher
By Technology
Condensing
Non-condensing
By Region
North America
Europe
Asia-Pacific
South America
Middle-East & Africa
Report Coverage
Market Sizing, Market Forecasting, Market Dynamics, Market Trends, Market Development Analysis, Market Share Analysis, Regional Analysis, Competitive Positioning, Competitive Benchmarking, Competitive Landscape, Company Profiling, Regulation Analysis, etc.
1 Executive Summary
2 Market Introduction 2.1 Definition 2.2 Architecture 2.3 Scope of the Study 2.4 Related Stakeholders
3 Research Methodology 3.1 Introduction 3.2 Primary Research 3.2.1 Key Insights 3.2.2 Breakdown of Primary Interviews 3.3 Secondary Research 3.3.1 Important Sources 3.4 Market Size Estimation Approaches 3.4.1 Top-Down Approach 3.4.2 Bottom-Up Approach 3.4.3 Data Triangulation 3.5 List of Assumptions
4 Market Dynamics 4.1 Introduction 4.2 Drivers 4.2.1 Less energy consumption when compared to conventional heaters. 4.2.2 Consumer choice to purchase higher energy factor 4.3 Restraints 4.3.1 Higher price of the product. 4.3.2 Cost of installation. 4.4 Opportunities 4.4.1 Technological improvements that include smart features 4.5 Challenges 4.5.1 Awareness about energy efficient solar heater 4.6 Porter's Five Forces Model Analysis 4.7 Value Chain Analysis 4.8 Regulatory Landscape
5 Instant Water Heater Market, By Technology 5.1 Introduction 5.2 Condensing 5.3 Non-condensing
6 Instant Water Heater Market, By Energy Source 6.1 Introduction 6.2 Electric 6.3 Gas
7 Instant Water Heater Market, By Distribution Channel 7.1 Introduction 7.2 Online 7.3 Stores
8 Instant Water Heater Market, By Energy Factor 8.1 Introduction 8.2 0 to 0.79, 8.3 .8 to 0.89 8.4 .9 & higher
9 Instant Water Heater Market, By Region 9.1 Introduction 9.2 North America 9.2.1 US 9.2.2 Canada 9.2.3 Mexico 9.3 Europe 9.3.1 Germany 9.3.2 UK 9.3.3 France 9.3.4 Italy 9.3.5 Spain 9.3.6 Rest of Europe 9.4 Asia-Pacific 9.4.1 China 9.4.2 India 9.4.3 Japan 9.4.4 South Korea 9.4.5 Australia 9.4.6 Rest of Asia-Pacific 9.5 Middle East and Africa 9.5.1 South Africa 9.5.2 Rest of the Middle East and Africa 9.6 Latin America 9.6.1 Brazil 9.6.2 Rest of the Latin America
11 Company Profiles (This section covers the Business Overview, Financial Overview, Product and Service Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.) 11.1 A.O. Smith 11.2 Ariston Thermo Group 11.3 Bosch Thermotechnology 11.4 Bradford White Corporation (BWC) 11.5 Ferroli S.p.A 11.6 Haier Electronics 11.7 Hubbell Incorporated 11.8 Jaguar 11.9 KANCH (HANGZHOU) WATER HEATER CO., LTD., 11.10 Linuo Ritter International Co., Ltd 11.11 Rheem Manufacturing Company 11.12 Rinnai Corporation 11.13 Saudi Ceramics 11.14 State Industries 11.15 Vaillant Group 11.16 VIESSMANN Manufacturing Company Inc. 11.17 Whirlpool Corporation.
Table 1 Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 2 Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 3 Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 4 Table 5 Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 6 North America Instant Water Heater Market, By Country, 2023-2033 (USD Million) Table 7 North America Instant Water Heater , By Technology, 2023-2033 (USD Million) Table 8 North America Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 9 North America Instant Water Heater Market, By Energy Factor Table 10 North America Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 11 North America Instant Water Heater Market, By Region Table 12 United States Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 13 United States Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 14 United States Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 15 United States Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 16 United States Instant Water Heater Market, By Region, 2023-2033 (USD Million Table 17 Canada Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 18 Canada Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 19 Canada Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 20 Canada Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 21 Canada Instant Water Heater Market, By Region, 2023-2033 (USD Million Table 22 Europe Instant Water Heater Market, By Country, 2023-2033 (USD Million) Table 23 Europe Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 24 Europe Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 25 Europe Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 26 Europe Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 27 Europe Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 28 Germany Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 29 Germany Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 30 Germany Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million Table 31 Germany Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 32 Germany Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 33 France Instant Water Heater Market, By Technology, 2023-2033 (USD Million Table 34 France Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 35 France Instant Water Heater Market, By Technology, 2023-2033 (USD Million Table 36 France Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 37 France Instant Water Heater Market, By Region, 2023-2033 (USD Million Table 38 Million) Table 39 Rest of Europe Instant Water Heater Market, By Technology, 2023-2033 (USD Million Table 40 Rest of Europe Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 41 Rest of Europe Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million Table 42 Rest of Europe Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million Table 43 Rest of Europe Instant Water Heater Market, By Region, 2023-2033 (USD Million Table 44 Asia-Pacific Instant Water Heater Market, By Country, 2023-2033 (USD Million) Table 45 Asia-Pacific Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 46 Asia-Pacific Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 47 Asia-Pacific Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 48 Asia-Pacific Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 49 Asia-Pacific Instant Water Heater Market, By Region 2023-2033 (USD Million) Table 50 China Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 51 China Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 52 China Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 53 China Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 54 China Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 55 India Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 56 India Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 57 India Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 58 India Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 59 India Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 60 Middle-East and Africa Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 61 Middle-East and Africa Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 62 Middle-East and Africa Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 63 Middle-East and Africa Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 64 Middle-East and Africa Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 65 Table 66 Latin America Instant Water Heater Market, By Country, 2023-2033 (USD Million) Table 67 Latin America Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 68 Latin America Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 69 Latin America Instant Water Heater Market, By Energy Factor, 2023-2033 (USD Million) Table 70 Latin America Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 71 Latin America Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 72 Brazil Instant Water Heater Market, By Technology, 2023-2033 (USD Million) Table 73 Brazil Instant Water Heater Market, By Region, 2023-2033 (USD Million) Table 74 Brazil Instant Water Heater Market, By Energy Source, 2023-2033 (USD Million) Table 75 Brazil Instant Water Heater Market, By Distribution Channel , 2023-2033 (USD Million) Table 76 Brazil Instant Water Heater Market, By Energy Factor, 2023-2033 (USD
List of Figures
Figure 1 Instant Water Heater Market: Market Segmentation Figure 2 Instant Water Heater Market: Research Methodology Figure 3 Breakdown of Primary Interviews Figure 4 Top Down Approach Figure 5 Bottom Up Approach Figure 6 Data Triangulation Figure 7 Instant Water Heater Market: Drivers, Restraints, Opportunities, and Challenges Figure 8 Instant Water Heater Market: Porter's Five Forces Model Analysis Figure 9 Instant Water Heater Market: Value Chain Analysis Figure 10 Instant Water Heater Market Share Analysis, By Technology, 2023 and 2033 Figure 11 Instant Water Heater Market Share Analysis, By Energy Source, 2023 and 2033 Figure 12 Instant Water Heater Market Share Analysis, By Distribution Channel , 2023 and 2033 Figure 13 Instant Water Heater Market Share Analysis, By Energy Factor, 2023 and 2033 Figure 14 Instant Water Heater Market Share Analysis, By Region, 2023 and 2033 Figure 15 North America Instant Water Heater Market Share Analysis, By Country, 2023 and 2033 Figure 16 North America Instant Water Heater Market Share Analysis, By Technology, 2023 and 2033 Figure 17 North America Instant Water Heater Market Share Analysis, By Energy Source, 2023 and 2033 Figure 18 North America Instant Water Heater Market Share Analysis, By Distribution Channel , 2023 and 2033 Figure 19 North America Instant Water Heater Market Share Analysis, By Energy Factor, 2023 and 2033 Figure 20 Europe Instant Water Heater Market Share Analysis, By Country, 2023 and 2033 Figure 21 Europe Instant Water Heater Market Share Analysis, By Technology, 2023 and 2033 Figure 22 Europe Instant Water Heater Market Share Analysis, By Energy Source, 2023 and 2033 Figure 23 Europe Instant Water Heater Market Share Analysis, By Distribution Channel , 2023 and 2033 Figure 24 Europe Instant Water Heater Market Share Analysis, By Energy Factor, 2023 and 2033 Figure 25 Asia-Pacific Instant Water Heater Market Share Analysis, By Country, 2023 and 2033 Figure 26 Asia-Pacific Instant Water Heater Market Share Analysis, By Technology, 2023 and 2033 Figure 27 Asia-Pacific Instant Water Heater Market Share Analysis, By Energy Source, 2023 and 2033 Figure 28 Asia-Pacific Instant Water Heater Market Share Analysis, By Distribution Channel , 2023 and 2033 Figure 29 Asia-Pacific Instant Water Heater Market Share Analysis, By Energy Factor, 2023 and 2033 Figure 30 Middle East and Africa Instant Water Heater Market Share Analysis, By country, 2023 and 2033 Figure 31 Middle East and Africa Instant Water Heater Market Share Analysis, By Technology, 2023 and 2033 Figure 32 Middle East and Africa Instant Water Heater Market Share Analysis, By Energy Source, 2023 and 2033 Figure 33 Middle East and Africa Instant Water Heater Market Share Analysis, By Energy Factor, 2023 and 2033 Figure 34 Middle East and Africa Instant Water Heater Market Share Analysis, By Distribution Channel , 2023 and 2033 Figure 35 Latin America Instant Water Heater Market Share Analysis, By Country, 2023 and 2033 Figure 36 Latin America Instant Water Heater Market Share Analysis, By Technology 2023 and 2033 Figure 37 Latin America Instant Water Heater Market Share Analysis, By Energy Source, 2023 and 2033 Figure 38 Latin America Instant Water Heater Market Share Analysis, By Distribution Channel , 2023 and 2033 Figure 39 Instant Water Heater Market: Competitive Benchmarking Figure 40 Instant Water Heater Market: Vendor Share Analysis
Instant Water Heater Market Scope:
Report Data
Instant Water Heater Market
Instant Water Heater Market Forecast Value 2033
29.04Billion
Instant Water Heater Market CAGR 2023 - 2033
7.16%
Instant Water Heater Market Forecast Period
2023 - 2033
Instant Water Heater Market Base Year
2022
Regional Scope
North America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies Profiled
A.O. Smith, Ariston Thermo Group, Bosch Thermotechnology, Bradford White Corporation (BWC), Ferroli S.p.A, Haier Electronics, Hubbell Incorporated, Jaguar, KANCH (HANGZHOU) WATER HEATER CO., LTD., Linuo Ritter International Co., Ltd, Rheem Manufacturing Company, Rinnai Corporation, Saudi Ceramics, State Industries, Vaillant Group, VIESSMANN Manufacturing Company Inc., and Whirlpool Corporation.
Key Segments
By Energy Source Electric
Gas
By Distribution Channel
Online
Stores
By Application
Residential
Commercial
By Energy Factor
0 to 0.79
.8 to 0.89
.9 & higher
By Technology
Condensing
Non-condensing
By Region
North America
Europe
Asia-Pacific
South America
Middle-East & Africa
Report Coverage
Market Sizing, Market Forecasting, Market Dynamics, Market Trends, Market Development Analysis, Market Share Analysis, Regional Analysis, Competitive Positioning, Competitive Benchmarking, Competitive Landscape, Company Profiling, Regulation Analysis, etc.
The Research Intellica follows an extensive research methodology that involves a blend of both primary and secondary research. Information assembly and understanding the definition of the market are one of the critical points in our research process.
Key steps required in our research process:
Information Assembling: Under this stage, market data or information is collected by going through all the various methodologies, such as paid databases, TRI’s internal databases, primary research, and secondary research.
Secondary Sources: Some of the prominent examples include annual reports, press releases & investor presentations of companies, white papers, government statistics companies such as WHO, NGOs, the World Bank, and many others, regulatory bodies, trade directories.
Primary Sources: The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies. The primary sources from the supply side include associations and institutions involved in the particular industry, key opinion leaders, and processing players.
Data Analysis: Our data is the Intellica of our research, and to stand out in the market, we analyse the data with statistical tools such as regression analysis and factor analysis. Our data analytics model aids in market forecasting. Common parameters are as follows:
Macro-economic factors
Demographics
Technology & innovation
Regional Patterns
Value Chain/ Supply Chain
Market dynamics
Industry Trends
Market Estimation: Both, bottom-up and top-down approaches were used to estimate and validate the size of the global market. The key players in the industry and markets were identified through extensive secondary research. The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as directors and marketing executives.
Bottom-Up Approach:
Top-down Approach:
Market Breakdown & Data Triangulation:
In order to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments, the data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides. Along with this, the market size was validated by using both, the top-down and bottom-up approaches.
Market Stakeholders:
Raw Material Suppliers
Manufacturers
System Integrators
Distributors
End-users
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