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Instant Water Heater Market

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

Base Year: 2022

Historical Data: 2018-2021

Report ID: TRI12

Published : Jan 2023

Pages : 98

Category : Consumer Goods

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Market Highlights

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

Instant Water Heater Market
CAGR OF
7.16%
Instant Water Heater Market
62d2ca698a958e0634cec8209ac6eb87.png
North America Europe Asia Pacific Middle East Africa 2022 2023 2033 7.16%


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

The Research Intellica XX%
Online
Stores
62d2ca698a958e0634cec8209ac6eb87.png
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
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 18 16 14 12 10 8 6 4 2 0 XX XX XX XX XX XX XX XX XX XX XX
The Market will Grow
At the CAGR of:
7.16%
The Forecast Market
Size for 2033 in USD:
$29.04B
62d2ca698a958e0634cec8209ac6eb87.png

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

APAC $ XX
The Market will Grow
At the CAGR of:
7.16%
The Forecast Market
Size for 2033 in USD:
$29.04B
62d2ca698a958e0634cec8209ac6eb87.png


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 DataInstant Water Heater Market 
Instant Water Heater Market Forecast Value 2033 29.04Billion
Instant Water Heater Market CAGR 2023 - 20337.16%
Instant Water Heater Market Forecast Period2023 - 2033
Instant Water Heater Market Base Year2022
Regional ScopeNorth America, Europe, Asia Pacific, South America, and Middle East & Africa
Key Companies ProfiledA.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 CoverageMarket 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.

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