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North America Instant Water Heater Market Trends

Report ID: GMI9830
Published Date: Nov 2024
Report Format: PDF

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North America Instant Water Heater Market Trends

Technological advancements leading to more reliable and efficient heating systems, provide better temperature control, higher flow rates, and smart features for remote monitoring through mobile apps, thereby augmenting the business dynamics. The tankless water heaters offer the advantage of providing hot water on-demand, reducing standby heat loss and saving energy fueling the adoption of tankless systems in both residential and commercial settings. Additionally, the compact, wall-mounted design of instant water heaters makes them ideal for smaller homes and apartments, increasing their market penetration.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The North American market for instant water heater was reached USD 191.8 million in 2024 and is estimated to grow at a 5.3% CAGR from 2025 to 2034, driven by stringent clean energy targets and a rising focus on energy-efficient equipment.

The commercial segment is anticipated to exceed USD 53 million by 2034, as businesses seek to reduce energy consumption and lower energy bills through higher efficiency ratings.

The gas segment is projected to witness a CAGR of over 6% through 2034, led by the growing preference for natural gas in regions where it is more affordable than electricity.

The U.S. instant water heater market is likely to exceed USD 225 million by 2034, supported by incentive programs, rebates, and the integration of advanced features like Wi-Fi and app controls.

Key players in the industry include A. O. Smith, Bosch Thermotechnology Corp., Bradford White Corporation, GE Appliances, Hubbell Heaters, Haier Inc., Navien Inc., Rinnai Corporation, Rheem Manufacturing Company, and Whirlpool Corporation.