Market Overview:
The global instant water heater market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.3% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 3.7 Billion |
Market Forecast in 2032
|
US$ 6.4 Billion |
Market Growth Rate (2024-2032) |
6.3% |
An instant water heater, or tankless water heater, is a device used to instantly heat cold water through gas or electrical heating unit. It consists of a hot water outlet, flue pipe, draft divider, pressure relief valves, dip tubes and tanks. It also includes a water flow sensor that starts automatically when it detects the water flow. The heated water is utilized for various purposes, such as cleaning, washing clothes, dishwashers, hot water showers, cooking, removing stains and relieving clogged drains. In comparison to traditional water heaters, instant water heaters are easy to install, cost-effective, convenient, compact and energy efficient. They also heat faster through a small-sized heating chamber.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Instant Water Heater Market Trends:
Significant growth in the hospitality industry across the globe is creating a positive outlook for the market. Instant water heaters are widely used in resorts and hotels for laundry, cleaning and supplying hot water in bathrooms, kitchens and swimming pools. Additionally, the widespread product adoption due to the increasing environmental concerns are favoring the market growth. Instant water heaters are energy efficient and produce lower carbon footprint and emissions. Moreover, the launch of instant water heaters in innovative designs and advanced features, such as mobile temperature control, leak protection alarms and power load control, are providing a thrust to the market growth. In line with this, the introduction of advanced water filtration and sterilization technologies to improve the overall filtration and purity of water is positively impacting the market growth. Other factors, including the widespread product utilization in the medical industry for bathing patients, along with the implementation of various government initiatives toward adoption of energy-efficient technologies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global instant water heater market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on product type, distribution channel, and application.
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- 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
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Product Type, Distribution Channel, Application, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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 |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |