Selbyville, Delaware, May 11, 2022 (GLOBE NEWSWIRE) --
The instant water heater market size is expected to record a valuation of USD 19 billion by 2030, according to the most recent study by Global Market Insights Inc.
Rising customer awareness toward smart water heating technologies coupled with the new product developments equipped with innovative features including voice control, remote monitoring, and automatic home integration will positively impact the industry growth. In addition, increasing carbon emission concerns in line with the shifting consumer trends toward energy-efficient heating units is set to stimulate the business dynamics.
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Growing demand across the hospitals and remote military locations along with advanced product customization will foster the instant water heater market growth. Extreme climatic conditions across various geographies in line with continuous hot water supply requirements to support the increasing demand will sway the industry dynamics. Moreover, primary capabilities including on-demand mass flow & heating and high density PUF insulation to prevent the water from freezing will lead to a positive demand over the coming times.
The commercial instant water heater market is anticipated to increase on account of the rising demand across resorts, hotels, and public facilities owing to improved performance as compared to their counterparts coupled with increasing installation across off-grid localities. Significant investments in establishing zero emission buildings along with ongoing upgrades in the existing facilities will boost the industry outlook. Furthermore, rising spending on research & development in line with the growing demand for advanced & energy-efficient units has facilitated mass product adoption across the application.
Natural gas instant water heater market is projected to rise due to the robust acceptance of smart water heating technologies coupled with extensive penetration of low emission heating units. Low operation costs, mass flow, and clean combustion are some of the key attributes that will fuel the market demand. The units offer the freedom to alter or change various features as per customer requirements including ignition, temperature, and gas control which will drive the business outlook.
Stringent environment regulations to curb carbon emissions coupled with existing building standards & codes are encouraging the deployment of high-efficiency heating appliances which is set to propel the instant water heater market progression. The key market regulations including Minimum Energy Performance Standards, Energy Efficiency Directive, Energy Labelling, and Eco-design Directive will further accelerate the business scenario. Rising customer awareness toward climate change, increasing pollution and emission levels and ongoing mandates & norms to deploy the renewable & efficient heating units across the government institutions & hospitals will complement the business landscape.
Eminent players across the instant water heater market include Havells India Limited, FERROLI S.p.A, Rinnai Corporation, Whirlpool Corporation, Rheem Manufacturing Company, GE Appliances, Bradford White Corporation, Bosch Thermotechnology Corp, A.O. Smith, Ariston Holding N.V., Vaillant Group, and Hubbelll Heaters.
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Some of the major findings of the instant water heater market report include:
- Surging product demand owing to the key benefits including inline heating, low electricity consumption, high power heating elements, and long product lifecycle among others.
- Increasing product installation across colleges/universities, hospitals and other spaces on account of ability to provide quick heating along with its capability to withstand high pressures.
- Enhanced deployment across residential applications impelled by the rising disposable incomes, increasing urbanization and customer inclination toward luxurious & improved living standards will augment the business growth.
Table of Contents (ToC) of the report
Chapter 3 Instant Water Heater Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & sustainability landscape
3.2.1 Bradford White Corporation
3.2.2 Rinnai Corporation
3.2.3 Vaillant Group
3.2.4 GE Appliances
3.2.5 A. O. Smith
3.2.6 Rheem Manufacturing Company
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Price trend analysis, by region
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 North America
3.6.1.1.1 Growing demand for energy efficient water heaters
3.6.1.1.2 Replacement of conventional water heating systems
3.6.1.2 Europe
3.6.1.2.1 Stringent energy efficiency norms
3.6.1.2.2 Growing demand for replacement of conventional water heaters
3.6.1.3 Asia Pacific
3.6.1.3.1 Rapid urbanization and advanced product customization
3.6.1.3.2 Increasing demand for energy efficient systems
3.6.1.4 Middle East & Africa
3.6.1.4.1 Advancing technology and rising emission standards
3.6.2 Industry pitfalls & challenges
3.6.2.1 High installation cost
3.7 Growth potential analysis
3.8 Porter's Analysis
3.9 Competitive landscape, 2021
3.10 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/instant-water-heater-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
