The rise in demand for hot water from various applications in the residential, commercial, and industrial sectors is propelling the worldwide electric water heater market forward. The adoption of severe government rules toward highly efficient heating equipment, as well as the rapid growth of the solar water heating industry, are the main factors impeding the electric water heater market's growth. The rapid transition from traditional water heating equipment such as boilers, burners, and others to electric water heater installations, on the other hand, is expected to provide lucrative growth opportunities for key players who manufacture highly efficient electric water heaters to maintain their market position during the forecast period.
The
market for Tankless
Water Heater Market is divided into four categories: product type,
capacity, end-user, and geography. The market is divided into the tank and tankless
categories depending on the product type. It is divided into three categories
according to on capacity: less than 100 litres, 100 to 400 litres, and more than
400 litres. Residential, commercial, and industrial end-users are all included
in the study. North America, Europe, Asia-Pacific, and LAMEA are the regions
studied.
Tankless water heaters are an energy-efficient choice
for hot water that outperforms typical tank water heaters in terms of cost. Tankless Water Heater Market,
also known as an immediate, constant flow, tank-less, direct-vent, or flash hot
water heaters, are devices that do not have internal tanks and instead use
convection to rapidly heat huge quantities of water from a supply source. The
heat is then transferred to a system of showerheads, faucets, or baths, which
heat the water directly. Tankless Water Heater Market are
appropriate for situations where there is insufficient natural gas or propane
gas supply or when fuel costs are a concern.
Key Players
Rheem Manufacturing Company, Rinnai Corporation, A. O.
Smith, Noritz America Corp., Ariston Thermo Group, Kyungdong Navien Co., Ltd.,
Stiebel Eltron GmbH & Co. KG, Bradford White Corp., Haier Electronics Group
Co., Ltd., and Bajaj Electricals Ltd. are some of the major competitors in the
industry.
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