Tankless Water Heater Market Size, Share & Trends Report

Tankless Water Heater Market Size, Share & Trends Analysis Report By Product (Electric Tankless Water Heater, Gas Tankless Water Heater), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-635-6
  • Number of Pages: 80
  • Format: Electronic (PDF)

Market Segmentation

  • Tankless Water Heater Product Outlook (Revenue, USD Billion, 2017 - 2030)
    • Electric Tankless Water Heater
    • Gas Tankless Water Heater
  • Tankless Water Heater Application Outlook (Revenue, USD Billion, 2017 - 2030)
    • Residential
    • Commercial
  • Tankless Water Heater Regional Outlook (Revenue, USD Billion, 2017 - 2030)
    • North America
      • North America Tankless Water Heater Market, By Product
        • Electric Tankless Water Heater
        • Gas Tankless Water Heater
      • North America Tankless Water Heater Market, By Application
        • Residential
        • Commercial
      • U.S.
        • U.S. Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • U.S. Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Canada
        • Canada Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Canada Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Mexico
        • Mexico Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Mexico Tankless Water Heater Market, By Application
          • Residential
          • Commercial
    • Europe
      • Europe Tankless Water Heater Market, By Product
        • Electric Tankless Water Heater
        • Gas Tankless Water Heater
      • Europe Tankless Water Heater Market, By Application
        • Residential
        • Commercial
      • U.K.
        • UK Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • UK Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Germany
        • Germany Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Germany Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • France
        • France Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • France Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Italy
        • Italy Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Italy Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Spain
        • Spain Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Spain Tankless Water Heater Market, By Application
          • Residential
          • Commercial
    • Asia Pacific
      • Asia Pacific Tankless Water Heater Market, By Product
        • Electric Tankless Water Heater
        • Gas Tankless Water Heater
      • Asia Pacific Tankless Water Heater Market, By Application
        • Residential
        • Commercial
      • China
        • China Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • China Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Japan
        • Japan Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Japan Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • India
        • India Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • India Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • South Korea
        • South Korea Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • South Korea Tankless Water Heater Market, By Application
          • Residential
          • Commercial
      • Australia
        • Australia Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Australia Tankless Water Heater Market, By Application
          • Residential
          • Commercial
    • Central & South America
      • Central & South America Tankless Water Heater Market, By Product
        • Electric Tankless Water Heater
        • Gas Tankless Water Heater
      • Central & South America Tankless Water Heater Market, By Application
        • Residential
        • Commercial
      • Brazil
        • Brazil Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • Brazil Tankless Water Heater Market, By Application
          • Residential
          • Commercial
    • Middle East & Africa
      • Middle East & Africa Tankless Water Heater Market, By Product
        • Electric Tankless Water Heater
        • Gas Tankless Water Heater
      • Middle East & Africa Tankless Water Heater Market, By Application
        • Residential
        • Commercial
      • South Africa
        • South Africa Tankless Water Heater Market, By Product
          • Electric Tankless Water Heater
          • Gas Tankless Water Heater
        • South Africa Tankless Water Heater Market, By Application
          • Residential
          • Commercial

Tankless Water Heater Market Dynamics

Driver: Increasing number of green buildings across the world

Green buildings are designed and constructed to reduce or eliminate negative impacts on climate and natural environment. Globally, green building projects have grown substantially in the last 10 years and are expected to witness steady growth in the upcoming years. According to the World Green Building Council, the percentage of industry respondents who expect to do the majority (more than 60%) of their projects green, increased from 27% in 2018 to almost 47% by 2021. Climate change is one the key factor pushing green building projects, with 77% of the respondents listing lowering greenhouse gas emissions as an important reason for their organization to be engaged in green building. Over the past few years, government bodies in countries such as the U.S., Ireland, Australia, Brazil, and China have been initiating and promoting such products to reduce overall carbon emission and energy consumption. For instance, The United States Green Building Council is compelling various business organization to invest in energy efficiency project. Tankless water heaters have emerged as ideal choices for a multitude of reasons. They are around 90% smaller compared to conventional tank-type water heaters and they provide hot water on demand. Moreover, according to the Office of Energy Efficiency & Renewable Energy, U.S., residential user who uses about 41 gallons of water daily, tankless water heater can be 24% to 34% more energy efficient compared to traditional storage water heater.

Restraint: High cost of Installation

Though tankless water heaters can produce needed hot water all day, but it cannot produce large amounts of water at a time. Furthermore, tank water heaters provide 7 to 9 gallons of hot water per minute while a typical tankless unit only provides 2 to 5 gallons of hot water. Moreover, gas-fired tankless water heater costs around USD 1,500 to buy and install, nearly double the price of a tank gas-fired unit, and costs USD 575 more than a high-efficiency tank model. Conventional gas fired water heater usually requires a half-inch gas line, while tankless unit requires three-quarter-inch pipe and plumber charges USD 25 to USD 40 per foot, which may potentially increase the cost of installation by USD 100 or more. Electric tankless unit is much cheaper as it can cost as little as USD 400 to install.

Opportunities: Strict regulations to save energy and carbon emission

The countries such as the U.S., China, and India are potential market for tankless water heaters owing to the implementation of stringent regulation to save energy and carbon emission. These energy saving regulations are expected to support the adoption of energy efficient home appliances including tankless water heaters. Moreover, countries including the U.S., and China are focusing on mandating the installation of high energy efficient water heaters regardless of any short-term installation issues. Mandating installation of energy efficient water heaters, prohibiting sales and installation of inefficient water heaters is expected to provide growth opportunities in upcoming years. Over the past years, the governments are taking initiatives for promoting the advanced and sustainable residential constructions. The high growth in the residential sector is expected to propel the demand for the energy efficient home appliances including tankless water heaters over the forecast period. 

What Does This Report Include?

This section will provide insights into the contents included in this tankless water heater market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Tankless water heater market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Tankless water heater market quantitative analysis

  • Market size, estimates, and forecast from 2017 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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