Instant Water Heater Market Report by Product Type (Gas Instant Water Heaters, Electric Instant Water Heaters), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, Online Stores), Application (Commercial, Residential

Instant Water Heater Market Report by Product Type (Gas Instant Water Heaters, Electric Instant Water Heaters), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, Online Stores), Application (Commercial, Residential, Industrial), and Region 2024-2032

The global instant water heater market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.3% during 2024-2032.

An instant water heater, or tankless water heater, is a device used to instantly heat cold water through gas or electrical heating unit. It consists of a hot water outlet, flue pipe, draft divider, pressure relief valves, dip tubes and tanks. It also includes a water flow sensor that starts automatically when it detects the water flow. The heated water is utilized for various purposes, such as cleaning, washing clothes, dishwashers, hot water showers, cooking, removing stains and relieving clogged drains. In comparison to traditional water heaters, instant water heaters are easy to install, cost-effective, convenient, compact and energy efficient. They also heat faster through a small-sized heating chamber.

Instant Water Heater Market Trends:
Significant growth in the hospitality industry across the globe is creating a positive outlook for the market. Instant water heaters are widely used in resorts and hotels for laundry, cleaning and supplying hot water in bathrooms, kitchens and swimming pools. Additionally, the widespread product adoption due to the increasing environmental concerns are favoring the market growth. Instant water heaters are energy efficient and produce lower carbon footprint and emissions. Moreover, the launch of instant water heaters in innovative designs and advanced features, such as mobile temperature control, leak protection alarms and power load control, are providing a thrust to the market growth. In line with this, the introduction of advanced water filtration and sterilization technologies to improve the overall filtration and purity of water is positively impacting the market growth. Other factors, including the widespread product utilization in the medical industry for bathing patients, along with the implementation of various government initiatives toward adoption of energy-efficient technologies, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global instant water heater market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on product type, distribution channel, and application.

Breakup by Product Type:

Gas Instant Water Heaters
Electric Instant Water Heaters

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Specialty Stores
Convenience Stores
Online Stores

Breakup by Application:

Commercial
Residential
Industrial

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being A. O. Smith Corporation, Bradford White, Ferroli S.p.A., Haier Group Corporation, Havells India Limited, Hubbell Incorporated, Nihon Itomic Co. Ltd., Rheem Manufacturing Company (Paloma Co. Ltd.), Rinnai Corporation, Vaillant Group and Whirlpool Corporation.

Key Questions Answered in This Report

1. What was the size of the global instant water heater market in 2023?
2. What is the expected growth rate of the global instant water heater market during 2024-2032?
3. What are the key factors driving the global instant water heater market?
4. What has been the impact of COVID-19 on the global instant water heater market?
5. What is the breakup of the global instant water heater market based on the product type?
6. What is the breakup of the global instant water heater market based on the distribution channel?
7. What is the breakup of the global instant water heater market based on the application?
8. What are the key regions in the global instant water heater market?
9. Who are the key players/companies in the global instant water heater market?