U.S. Tankless Water Heater Market Size & Outlook, 2026-2033
Global Market
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U.S. tankless water heater market highlights
- The U.S. tankless water heater market generated a revenue of USD 779.5 million in 2025 and is expected to reach USD 1,888.2 million by 2033.
- The U.S. market is expected to grow at a CAGR of 11.9% from 2026 to 2033.
- In terms of segment, electric was the largest revenue generating product in 2025.
- Electric is the most lucrative product segment registering the fastest growth during the forecast period.
Tankless water heater market data book summary
| Market revenue in 2025 | USD 779.5 million |
| Market revenue in 2033 | USD 1,888.2 million |
| Growth rate | 11.9% (CAGR from 2026 to 2033) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric, Gas |
| Key market players worldwide | A.O. Smith Corp, Palomar Holdings Inc, Rinnai Corp, Stiebel Eltron, Takagi Seiko, Noritz Corp, Navient Corp |
Other key industry trends
- In terms of revenue, U.S. accounted for 18.0% of the global tankless water heater market in 2025.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2033.
- In North America, U.S. tankless water heater market is projected to lead the regional market in terms of revenue in 2033.
- Canada is the fastest growing regional market in North America and is projected to reach USD 286.6 million by 2033.
The tankless water heating systems are gaining popularity among the U.S. consumers as it saves both energy and space. As reported by the U.S. Energy Information Administration, water heating is the second largest residential energy use. Using the tankless products consumers will be able to reduce this energy consumption.
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Publish Date: Jun 11, 2026
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Tankless Water Heater Market Scope
Tankless Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Palomar Holdings Inc | View profile | 213 | 7979 Ivanhoe Avenue, Suite 500, La Jolla, CA, United States, 92037 | plmr.com |
| Stiebel Eltron | View profile | 11-50 | West Hatfield, Massachusetts, United States, North America | www.stiebel-eltron-usa.com |
| A.O. Smith Corp | View profile | 12,000 | 11270 West Park Place, P. O. Box 245008, Suite 170, Milwaukee, WI, United States, 53224-9508 | www.aosmith.com |
| Takagi Seiko | View profile | - | Iwafune, Niigata, Japan, Asia | www.takagi-j.com |
| Rinnai Corp | View profile | 12,731 | 2-26, Fukuzumi-cho, Nakagawa-ku, Nagoya, Japan, 454-0802 | www.rinnai.co.jp |
| Noritz Corp | View profile | 7,174 | 93 Edo-machi, Chuo-ku, Kobe, Japan, 650-0033 | www.noritz.co.jp |
| Navient Corp | View profile | 4,500 | 13865 Sunrise Valley Drive, Herndon, VA, United States, 20171 | www.navient.com |
U.S. Tankless Water Heater Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Tankless Water Heater Market Outlook will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 76.24% in 2025.
Horizon Databook has segmented the U.S. tankless water heater market based on electric, gas covering the revenue growth of each sub-segment from 2021 to 2033.
The tankless water heating systems are gaining popularity among the U.S. consumers as it saves both energy and space. As reported by the U.S. Energy Information Administration, water heating is the second largest residential energy use. Using the tankless products consumers will be able to reduce this energy consumption.
- U.S. Tankless Water Heater Market Product Outlook (Revenue, USD Million , 2021-2033)
- Electric
- Gas
- U.S. Tankless Water Heater Market Application Outlook (Revenue, USD Million , 2021-2033)
- Residential
- Commercial
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. Tankless Water Heater Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.S. Tankless Water Heater Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
U.S. Tankless Water Heater Market, 2021-2033 (US$M)
US Product - Tankless Water Heater Market Statistics, 2025 - 2033 (US$M)
