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Instant Water Heater Market Size
- Report ID: GMI3007
- Published Date: Oct 2023
- Report Format: PDF
Instant Water Heater Market Size
Instant Water Heater Market was valued at more than USD 12.8 billion in 2022 and is poised to witness 4.3% CAGR from 2023 to 2032. Growing focus of businesses to reduce energy consumption and environmental impact coupled with introduction of new models ideal for homes and businesses with limited space will drive the product adoption.
Growing demand for hot water across households, commercial and industrial buildings along with introduction of mandates and standards set by government will stimulate the business dynamics. For instance, in May 2022, the U.S. Department of Energy proposed new energy-conservation standards for commercial water heating equipment, including gas storage, instantaneous, and gas hot water supply boilers. The proposed standards require commercial water heaters to incorporate condensing technology, which significantly reduce the energy consumption by extracting additional heat from the combustion process. Therefore, technological advancements will make instant water heaters more reliable, efficient, and user-friendly.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Instant Water Heater Market Size in 2023: | USD 13.17 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 19.25 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 959 |
| Segments covered: | Application and Energy Source |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Instant Water Heater Market Scope
