Selbyville, Delaware, Market Study Report LLC recently added a new title on 2020-2027 Global Instant Water Heater Market Report from its database. The report provides study with in-depth overview, describing about the Product, Industry Scope and elaborates market outlook and status to 2027.
Global Instant Water Heater Market to reach USD 34.05 billion by 2027. Global Instant Water Heater Market is valued approximately USD 18.81billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.70% over the forecast period 2020-2027.
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Therefore, instant water heater manufacturers are designing new and revolutionary instant water heaters, which are cost-effective in nature, to increase global sales. In line with current trends, the demand for instant water heaters is also expected to rise exponentially as it consumes 50 % less energy compared to standard water heater. Further, among the key factors that are motivating home appliance manufacturers to launch more sustainable products, are growing environmental issues among customers and government initiatives. The energy efficiency of appliances continues to be one of the key factors affecting customer buying decisions, contributing to the development of the current market for water heaters.
As the name suggests, an instant water heater is a system that heats water instantly. Often known as an inline water heater or water heater without a tank. It is an electric or gas power supply heating equipment that heats water. In both the commercial and household sectors, these water heaters have proven to be very useful, which, in turn, gives impetus to the growth of the instant water heater market globally. Instant water heaters have several benefits, including compactness and energy-saving performance.
Further, Emerged economies serve as a potential market for instant water heaters as they are untapped. Non-member countries of the Organization for Economic Co-operation and Development (OECD) make up more than 80 per cent of the world’s population, yet consume less than developed economies. The countries of Asia-Pacific and LAMEA have seen significant economic growth over the last few years, and as a result, lifestyle changes have also taken place. Promote the growth of instant water heaters in Asia-Pacific. Emerging economies are estimated to make up more than 60 per cent of the world’s current middle class population by 2020. As a result, the increase in the middle-class population is expected to boost demand for instant water heater products, thus increasing the growth of the instant water heater market. However, high installation cost impedes the growth of the market over the forecast period of 2020-2027. Also, the increase in demand for the replacement of conventional systems, coupled with the adoption of low-emission heaters, is expected to amplify the growth of the instant water heater industry.
Major market player included in this report are:
- O. Smith Corporation
- Ariston Thermo S.P.A.
- Bradford White Corporation
- General Electric Company
- Ferroli S.P.A
- Havells India Ltd
- Nihon Itomic Co., Ltd
- Rheem Manufacturing Company
- Vaillant Group
- Whirlpool Corporation.
The regional analysis of global Instant Water Heater market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to Factors such as the region’s cold climate, the adoption of economical and energy-efficient goods and increasing demand, including hospitals, hotels and restaurants, from the commercial sector. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the high population leading to high demand, the presence of leading producers, and rapid urbanization would create lucrative growth prospects for the Instant Water Heater market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type:
Gas instant water heaters
Electric instant water heaters
By Distribution Channel:
Supermarket and Hypermarket
- North America
- Asia Pacific
- Latin America
- Rest of the World
For More Details on Instant Water Heater Market Report at: https://www.marketstudyreport.com/reports/global-instant-water-heater-market-size-research?utm_source=Marketwatch.com&utm_medium=SP
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