Germany’s tankless water heater market is projected to grow significantly during the forecast period. The major factor that propels the market growth in the country includes the growing demand for convenient water heaters in commercial and residential applications. As these water heaters are tankless water heaters are compact units that offer hot water as required, without storing it as traditional tank-type water heaters. The tankless water heaters are an energy-efficient substitute for conventional water heaters as it reduces standby losses. Therefore, the tankless water heaters are significantly adopted in residential and commercial applications for the reduction of in-home energy consumption and aid customers in saving utility costs.
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Moreover, the growing demand for heat pumps in the country further provides a significant opportunity for the market. According to the Clean Energy Wire organization, a total of 206.00 GW of electrical energy generation capacity was recorded in 2018 in Germany as compared to 202.51 GW in 2017. Demand for heat pumps for water heating is expected to increase due to the growing application of water heating equipment in the commercial and residential sectors. Some of the major companies operating in Germany and providing heat pumps include BDRThermea, Daikin Europe, Nibe, Vaillant Group, Viessmann Group, Buderus, Stiebel Eltron, Waterkotte, Wolf Heiztechnik, and others. Along with that the rising electricity bills, the residents often prefer not to install conventional water heaters at their residents. Hence, this becomes the major driving factor for the adoption of tankless water heaters in the country.
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- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Product Type and By Application
- Key Companies Profiled – A.O. Smith Corp., General Electric Co., NORITZ Corp., Rheem Manufacturing Company, Inc., Robert Bosch GmbH
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Germany Tankless Water Heater Market – Segmentation
By Product Type
- Electric Water Heater
- Gas Water Heater
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- O. Smith Corp.
- ATC Electrical and Mechanical, Ltd.
- Bradford White Corp.
- General Electric Co.
- Navien Inc.
- NORITZ Corp.
- Robert Bosch GmbH
- Rheem Manufacturing Company, Inc.
- Rinnai Corp.
- Stiebel Eltron, Inc.
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