Instant water heaters, which are also called inline, tankless, or instant-on water heaters, are the type of water heaters that can instantly heat water without storing it internally, in the device. High thermal conductivity is one of the major advantages of instant water heaters, and copper heat exchangers are used in most designs of instant water heaters.
The operation of some instant water heaters can be controlled with a variable power output level. A high-efficiency condensing instant water heaters are gaining popularity among consumers across the world. Owing to the numerous advantages of instant water heaters, such as compactness and water and energy saving, leading manufacturers in the instant water heaters market are introducing innovative and more cost-effective designs of instant water heaters to improve sales in the upcoming years.
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Consumers Willing Live a Low-carbon Lifestyle Drives Growth of Instant Water Heater Market
Increasing environmental concerns among consumers and government initiatives are among the major factors that are encouraging home appliance manufacturers to introduce more sustainable devices. The energy-efficiency of the appliance continues to remain one of the primary factors to influence purchasing decisions of consumers, thereby triggering growth of the instant water heater market.
Instant water heaters consumer much lesser amount of energy than conventional water heaters, which remains one of the major advantages of instant water heaters. Consumers are preferring to purchase instant water heaters with high energy factor (EF) and lower carbon footprint, and this is likely to continue boosting growth of the instant water heater market in the upcoming years.
Inclination Toward Solar Water Heating Systems may Limit Sales of Instant Water Heaters
Despite the growing demand for instant water heaters due to their energy-efficient features, consumers are looking for water heating systems that can save more energy and resources that instant water heaters. As solar water heaters use solar energy to heat water, they save much more resources than electric or gas instant water heating systems. Consumer awareness about the benefits of reusable energy sources is encouraging them to choose solar water heaters over instant water heaters, which run on conventional energy sources.
In addition, government subsidies and incentives on solar water heating systems are boosting their adoption, in turn, creating challenges for players in the instant water heater market. In 2016, the United Nations (UN) mandated the use of solar water heaters under its solar housing program for new buildings across the world. According to the UN, the global investments in renewable energy was twice higher than that is conventional energy (gas or coal power stations), in 2015.
Consumers’ inclination towards solar water heaters is likely to create challenges for manufacturers and other stakeholders in the instant water heater market in the upcoming years.
Ever-expanding Construction Industry will Boost Residential Applications of Instant Water Heater Market
Post the Great Recession, increased disposable income of consumers and burgeoning trends of urbanization and globalization has provided a boost to construction activities across the globe. Especially in the emerging economies, the residential construction is on the rise, creating numerous opportunities for players in the instant water heater market. Increasing population and a substantial rise in discretionary income of consumers in developing countries, such as China and India, is expected to generate new avenues of growth for players in the instant water heater market.
Taking into account the positive growth prospects of the construction industry in developed as well as developing countries, manufacturers in the instant water heater market are introducing innovative designs that will suit its residential applications in the upcoming years.
Instant Water Heater Market Players Introduce Innovative Designs to Improve Sales
The recent trends such as smart homes and rising sales of residential properties is likely to make a significant impact on the emerging trends in the instant water heater market in the upcoming years. A majority of leading manufacturers in the instant water heater market are incorporating advanced technologies to launch connected or smart instant water heaters to be in-line with the changing technological environment in the market.
Introducing advanced features, such as mobile temperature control and leak protection alarms, with the help of next-generation technologies is emerging as a popular trend in the instant water heater market. Leading market players are launching unique and builder-friendly designs of instant water heaters to maintain a competitive edge in the instant water heater market in the upcoming years.
Instant Water Heater Market Segmentation
The instant water heater market is broadly segmented according to the location of installation, energy factor, product type, technology, end-users, and distribution channels.
Based on the location of installation, the instant water heater market is segmented as:
Based on the energy factor, the instant water heater market is segmented as:
- 0-0.79 EF
- 8-0.89 EF
- 9 EF and higher
Based on product type, the instant water heater market is segmented as:
- Gas Instant Water Heaters
- Electric Instant Water Heaters
Based on technology, the instant water heater market is segmented as:
Based on end-users, the instant water heater market is segmented as:
Based on sales channels, the instant water heater market is segmented as:
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Instant water heater market research report offers detailed analysis of the market as well as consists of thoughtful facts and insights along with historical data, which holds market data that is industry-evaluated and statistically backed up. The report comprises of projections that are generated with the help of suitable methodologies and a set of hypotheses. In addition, the research report delivers information and study based on market classifications such as industry, end-use and region.