Global instant water heater market exceeded USD 12 billion in 2019 and is projected to escalate at a CAGR of around 3% between 2020 and 2026.
Instant Water Heater Market
This report analyzes and estimates the instant water heater market at the global, regional, and country levels. The research study provides historic data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion). The report offers detailed insights of the instant water heater market drivers and restraints along with their impact analysis at a global level from 2016 to 2026.
The report covers an in-depth analysis of the strategies adopted by major competitors in the global instant water heater market. To understand the competitive landscape in the instant water heater market, an analysis of Porter’s Five Forces model is also included. The research study comprises of market attractiveness analysis, wherein energy source, application, and regional segments are benchmarked on the basis of their market size and growth rate. All the segments of the market have been analyzed based on the past, present, and future trends. The market is estimated from 2019 to 2026.
Plenty of natural gas resources coupled with the established gas pipeline infrastructure for both residential and commercial sectors will drive the gas-based segment of the instant water heater market. At present, the advanced heating appliances with low energy-consuming and low emission capabilities are overpowering the conventional systems. Owing to the rising adoption of advanced products, the global demand for instant water heaters is escalating swiftly. Some other advantages of the advanced instant water heating appliances over the conventional systems, such as easy deployment and mass flow, are also propelling the global instant water heater market.
At present, Asia Pacific, Europe, and Latin America mainly drive the global instant water heater market. The three regions held over 90% share of the global instant water heater market in 2019. The majority of the nations in these three regions are developing, which is the key reason behind the predominance of the trio in the global market.
The report encompasses a comprehensive analytical study of the global instant water heater market by segmenting it on the basis of energy source, application, and region. Based on the energy source, the global market is segmented into gas and electric. By application, the market is categorized into residential and commercial. The regional segmentation comprises the past, present, and estimated demand for the Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. The regional segment is further split into the U.S., Canada, Mexico, UK, France, Germany, China, Japan, India, South Korea, Brazil, and Argentina among others.
Some of the essential players flourishing the global instant water heater market, but not restricted to include Rheem Manufacturing, General Electric, State Water Heaters, A.O. Smith, Ferroli, Racold, Nihon Itomic, Ariston Thermo, Havells India Limited, Bradford White, Vaillant Group, Rinnai Corporation, Bosch Thermotechnology, Hubbell, and Whirlpool Corporation.
The global instant water heater market is segmented as: