The Asia Pacific Tankless Water Heater Market would witness market growth of 7.4% CAGR during the forecast period (2022-2028).
The heating elements in gas tankless water heaters take the shape of heat exchangers, which transport heat through the hot combustion gases to the water. A gas tankless water heater needs access to combustion air because of the combustion process, and it also needs an exhaust vent to release flue gases. Gas models have an ignition source that is either a spark light or an electronic ignition.
Similar to electric models, when the water starts to flow, gas begins to flow into the combustion chamber and is ignited there by the ignition source. Gallons per minute (GPM) is the most common unit used to measure water flow rate. It is crucial to keep in mind that the tankless water heater's capacity to elevate water temperature diminishes as the hot water flow rate requested rises and vice versa. For instance, if a tankless unit must provide 4 GPM of hot water on demand, it could only be able to raise the temperature of incoming water by 50°F.
Tankless water heater sales in India have been rising in recent years, and in the near future, they are predicted to increase by double digits. The market is expanding as a result of an increase in solar water heating system installations. India had a 26% growth in solar heating and cooling installations in 2017, according to the International Energy Agency's (IEA) technology collaboration initiative. Manufacturers now have plenty of opportunities to introduce brand-new non-consumer electronics items to the Indian market.
The China market dominated the Asia Pacific Tankless Water Heater Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $777.7 million by 2028. The Japan market is estimated to grow a CAGR of 6.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 8.1% during (2022 - 2028).
Based on Type, the market is segmented into Condensing and Non-Condensing. Based on Energy Source, the market is segmented into Electric and Gas. Based on Energy Factor, the market is segmented into 0.91 to 0.99 EF and 0.80 to 0.90 EF. Based on End User, the market is segmented into Commercial and Residential. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Tankless Water Heater Market is Projected to reach USD 9.4 Billion by 2028, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include A. O. Smith Corporation, Robert Bosch GmbH, Stiebel Eltron GmbH & Co. KG, Takagi Seiko Co., Ltd., Kyungdong Navien Co., Ltd., Noritz Corporation, Bradford White Corporation, EcoSmart Green Energy Products, Inc., Rinnai Corporation, and Rheem Manufacturing Company.
By Type
By Energy Source
By Energy Factor
By End User
By Country
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