Global Tankless Water Heater Market to Reach $10.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Tankless Water Heater estimated at US$6.8 Billion in the year 2020, is projected to reach a revised size of US$10.2 Billion by 2027, growing at aCAGR of 5.8% over the period 2020-2027. Condensing, one of the segments analyzed in the report, is projected to record 6.5% CAGR and reach US$7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Condensing segment is readjusted to a revised 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 9.1% CAGR
The Tankless Water Heater market in the U.S. is estimated at US$1.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2027 trailing a CAGR of 9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.We bring years of research experience to this 5th edition of our report. The 370-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others,
- A.O. Smith Corporation
- Alpha Electric Company Sdn. Bhd.
- Bosch Thermotechnology
- Bradford White Coporation
- Eemax Inc.
- Nortiz America
- Rheem Manufacturing Company
- Rinnai Corporation
- Stiebel Eltron GmbH & Co. KG