Tankless Water Heater Market expected to reach USD 6.65 Billion by 2029 at a CAGR of 8.7 percent

(IT-NEWSWIRE.COM, October 15, 2023 ) As per Maximize Market research, the Tankless Water Heater Market was USD 3.68 Billion in 2022 and is expected to grow at a CAGR of 8.7 percent over the forecast period to reach USD 6.65 Billion by 2029.

Tankless Water Heater Market Report Scope and Research Methodology

The report highlights the competitive market view, segment analysis based on the basis of product type, energy source, distribution channel and end-user. The market size and trends for the Tankless Water Heater Market were analysed by using both primary research through interviews and surveys with professionals, and secondary research via literature review and robust data Analysis.

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Tankless Water Heater Market Dynamics

Tankless Water Heater Market is driven by their energy efficiency and potentials for cost savings. The growing emphasis on sustainable living practices is another key driver for the market. The market is growing rapidly, and it is expected to continue to grow in the coming years. This presents a number of opportunities for companies that are involved in the design, manufacturing, distribution, and installation of tankless water heaters.

Tankless Water Heater Market Regional Insights

North America region dominated the Tankless Water Heater Market in the year 2022 and is expected to maintain its dominance during the forecast period. The United States is the largest tankless water heater market in North America, followed by Canada.

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Tankless Water Heater Market Segmentation

By Product Type

Condensing

Non-Condensing

Hybrid

By Energy Source

Electric

Gas

By Distribution Channel

Online

Offline

By End-User

Residential

Commercial

Industrial

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Tankless Water Heater Key Competitors include

Rheem Manufacturing Company

Navien, Inc.

Haier Group

Calorex

Ecotermo

Heineken Tecate

Maximize Market Research is leading Electronics research firm, has also published the following reports:

Superheater Market - The market size is expected to reach USD 7.47 Bn. by 2029 at a CAGR of 5.4 percent during the forecast period.

Bolt Heaters Market - The Market size is expected to reach USD 271.2 Mn. by 2029 at a CAGR of 4.8 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defence, and other manufacturing sectors.

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Tankless Water Heater Market expected to reach USD 6.65 Billion by 2029 at a CAGR of 8.7 percent