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According to the latest report by IMARC Group, titled “Instant Water Heater Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global instant water heater market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.15% during 2023-2028.

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.

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Instant Water Heater Market Trends:

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.

Instant Water Heater Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the instant water heater market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • 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.

Key Market Segmentation:

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

Breakup by Region:

  • North America
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East and Africa

Ask Analyst for 10% Free Customized Report:  https://www.imarcgroup.com/request?type=report&id=4888&flag=E

Key Highlights of the Report:                                                          

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

Note: 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.

About Us                                                                      

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact:

IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

 

 

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