Instant Water Heater Market

Global Instant Water Heater Market Size (2024 to 2029)

The size of the global Instant Water Heater Market is expected to be worth USD 22938 million in 2024 and USD 34,811.43 million by 2029, growing at a CAGR of 8.7% from 2024 to 2029.

The establishment of residential projects coupled with a rise in infrastructural investments is one of the major driving factors of the Instant Water Heater market growth rate. Another major driving factor of the Instant Water Heater market was the government regulations and strict building codes and standards for adopting energy-efficient technologies.

Increased disposable income of consumers and burgeoning trends of urbanization and globalization are some of the Instant Water Heater revenue rate market's growth-supporting factors. Another major growth factor of the Instant Water Heater market was the increasing population and a substantial rise in consumers' discretionary income in some countries. Along with this, growing awareness of the instant water heater's benefits is likely to bolster the market's growth rate. 

Technological advancements automation in-home essentials, and increased investments in R & D by prominent key players are some of the major factors that help the growth of the Instant water heater revenue rate. The Instant Water Heater is the inclination toward solar water heating systems, which hinders the Instant Water Heater Market's growth. Another major restraint affecting the growth of the Instant Water Heater market was the availability of alternative products.

Impact of COVID-19 on the Instant Water Heater market:

COVID-19 was declared a pandemic by WHO in March 2020. Since then, to control the spread of the disease, all governments have taken a step forward to impose lockdowns and restrictions on the movements. Due to that, there is a break in the supply chain as many countries did not allow exports and imports. There were strict guidelines, especially in the first half of 2020 across the world. Key players faced difficulties during this time as there was no growth rate. But with the resumption of the activities by taking proper measures like maintaining social distancing and wearing a mask, the shares started to grow in the last months of 2020. It is expected to level up the growth rate of the instant water heater market in 2022. 

REPORT COVERAGE:

This research report on the global instant water heater market has been segmented and sub-segmented based on location of installation, energy factor, product type, technology, end-users, sales channel, and region.

Global Instant Water Heater Market – By Installation Location:

• Indoor
• Outdoor

Among these segments, the indoor segment holds the major share of the market. Adopting the latest technologies and growing awareness of the availability of efficient products boosts the growth rate of the market. The outdoor segment is next in dominating the shares of the market. 

Global Instant Water Heater Market – By Energy Factor:

• 0-0.79 OF
• 8-0.89 OF
• 9 OF

8-0.89 EF segment is ruling with the highest market shares with the increasing demand to improve well-being and living standards. 

The Instant Water Heater market is segmented into gas instant water heaters, and electric instant water heaters based on the product type. Among these segments, the electric instant water heaters segment holds the major share of the market.

Global Instant Water Heater Market – By Technology:

The Instant Water Heater market is segmented into two types, namely condensing and non-condensing. The condensing segment is estimated to grow at a higher rate during the forecast period. 

Global Instant Water Heater Market – By End-Users:

The Instant Water Heater market is segmented into commercial and residential. The residential segment leads the significant shares of the market with the quick adoption of water heaters in developed countries. 

Global Instant Water Heater Market – By Sales Channels:

The Instant Water Heater market is segmented into two modes: online and offline. The offline segment is gaining traction over the shares of the market. 

Global Instant Water Heater Market – By Region:

The Instant Water Heater market is elaborated in various regions all around the world such as

• North America (US, Mexico, Canada, and the rest of North America),
• Europe region (Spain, France, Germany, Italy, UK, and rest of Europe),
• Asia Pacific region (India, Japan, China, Australia, and the Rest of Asia Pacific). 
• Latin America 
• The Middle East and Africa 

North America region holds the largest share of the market of Instant Water Heaters owing to the technological advancements, and automation in-home essentials, increased investments in R & D by major key players are some of the factors are propelling the market of Instant Water Heaters to grow further in the North America region.

Asia Pacific region holds the major share of the market following North America owing to its increasing population and a substantial rise in discretionary income of consumers in some of the countries such as India and China in the region.

The Europe region is expected to increase the market value of Instant Water Heaters owing to the rising investment in new product innovation by the companies propels the growth of the market.

Key market players:

The major key players in the Instant Water Heater Market are Ferroli S.P.A, Ariston Thermo S.P.A, General Electric Company, Havells India Ltd, Nihon Itomic Co., Ltd, A.O. Smith Corporation, Bradford White Corporation, Rheem Manufacturing Company, Vaillant Group, Whirlpool Corporation.