Bizizz Market Research has recently published a research report, “Tankless Water Heater Market by Product Type (Gas and Electric) by End-User (Residential and Commercial) and Online) and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Tankless Water Heater Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 7.4 Bn by 2027, witnessing a CAGR of 6.2 % during the forecast period. Key drivers of the market are changing lifestyle, introduction of advanced products, and rising purchasing power.
The tankless water heaters offer several advantages over conventional water heaters which is making it popular among large consumer base. Moreover, promising government initiatives intended to promote energy efficient systems is expected to poise a positive impact on the market growth. The regional and international government have set some standards for the production of home appliances over the globe.
The Tankless Water Heater Market Is Anticipated To Register A CAGR Of Over 6.2 % During The Forecast Period.
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By Product Type, Electric Segment Held A Prominent Share In Global Tankless Water Heater Market In 2018
Based on product type, the electric segment held prominent share in global market. Electric heaters require less installation cost and easy to install. Also, these products offer lower operational cost and durability which makes it preferable among end-users. These products have unique design which enable it to set in a small space and do not need any ventilation which is suitable for newly designed houses.
EuropeIs Projected to Occupy Prominent Share During the Forecast Period Whereas North America is Projected to Grow Rapidly Between 2019-2027
Europe is anticipated to register significant share throughout the forecast period. In 2018, the region accounted for 32.14 % share in global tankless water heater market. This is mainly due to rising consumer awareness regarding energy efficiency in European countries including Germany, France, and U.K. Moreover, rising demand from commercial buildings such as hospitals, restaurants, and hotels is expected to fuel the regional growth. On the other hand, North America is estimated to grow at a fastest rate over the forecast timespan owing to presence of key players operating in global market including Rheem Manufacturing Company and A. O. Smith in United States.
Global Tankless Water Heater market is highly fragmented with several local and global players. The manufacturers are focused on research and development activities in order to gain technological competence.
Prominent players operating in the Global Tankless Water Heater Market are: Navien Inc, A. O. Smith, Noritz America, Rheem Manufacturing Company, Takagi, Bradford White Corporation, Stiebel Eltron Inc., EcoSmart Green Energy Products, Inc., and Robert Bosch LLC, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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