Instant Water Heater Market growth drivers in 2022 & Challenges by 2030
The latest Instant Water Heater Market analysis and research report talks about major applications of Instant Water Heater Market, growth of these segments as well as offers insights into company’s active in this industry and their information.
According to the Australian Bureau of Statistics (ABS), the number of dwelling units approved in Australia grew by 36.6% in the first 5 months of 2021. This development will positively influence home appliances demand. It has been estimated that global instant water heaters market size will record more than 5% CAGR during the forecast period of 2020-2030.
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Natural gas water heaters will capture a major share of the global market by 2030 because of the growing inclination of customers towards eco-friendly and smart water heating technologies. These water heaters are far more useful in countries having colder climates like Canada and are highly energy efficient.
The product’s energy efficiency, as far as standard models are concerned, lies between 78-85%, enabling customers to save money and power. Europe has been one of the most active users of gas water heaters for more than 25 years. With water heaters accounting for over 80% of the region’s total household energy consumption, the product demand will rise considerably.
Hospitals are using tankless water heaters on a large scale to take better care of patients by using hot water for hygiene purposes. These heaters use thermal optic sensors to heat the water running through the system. This keeps the overall temperature of the water at a safe level.
While storage water heaters can cause standby heat loss when not in use, the instant ones are highly energy efficient because they heat water on demand. This can significantly reduce heat loss and save hospitals a lot of money on their electricity bills, thereby boosting the product installation across commercial spaces.
Some of these key players include A.O. Smith, Bosch Thermotechnology Corp., Ariston Holding N.V., GE Appliances, Racold, Bradford White Corporation, Whirlpool Corporation, and Vaillant Group, among others, are a few leading instant water heater manufacturers.
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