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Market Overview of Global Tankless Electric Water Heaters market:
According to our latest research, the global Tankless Electric Water Heaters market looks promising in the next 5 years. As of 2022, the global Tankless Electric Water Heaters market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Tankless Electric Water Heaters appliances provide hot water only when needed. When user turn on a hot water tap, cold water flows into the heating unit where an electric-powered element warms the water. This creates a constant supply of hot water without the need to store it in a tank.
Affect the normal operation of the industry
The raging COVID-19 has plunged the North America economic environment into depression. The influence of COVID-19 on Tankless Electric Water Heaters industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the supply of raw materials for Tankless Electric Water Heaters production was tight. The company's production is limited to some extent, and the production of related enterprises in the hardest hit areas is greatly affected. After the epidemic is over, it will also face the financial pressure of rising costs caused by the shortage of raw materials.
The American market is growing
The United States is an important consumer market for Tankless Electric Water Heaters. The United States has a good economic level, high market maturity and developed retail, and huge market capacity which has laid a good foundation for the further development of the Tankless Electric Water Heaters market. NACEA regulations set new minimum standards for the efficiency of water heaters across the United States, and government activities at state and local levels increased to support its decarburization goals.
The American home appliance market is welcoming the consumption upgrade with the theme of smart environmental protection. At present, the United States has become one of the countries with the fastest growing scale and the highest penetration rate in the global smart home appliance market. The intelligent development of Tankless Electric Water Heaters has also attracted more and more consumers to buy.
Tankless Electric Water Heaters Some shortcomings
The main disadvantage of tankless electric water heaters is their upfront cost (unit and installation) is significantly higher than tank-style heaters, in some cases, up to three times more. In addition, older homes may require an electrical upgrade before installing an electric-powered on-demand water heater. In addition to high upfront costs, tankless electric water heaters also face Multiple-appliance challenges. Because the water is heated on demand, tankless units can't always supply enough hot water if user is simultaneously running several appliances, like a dishwasher and a washing machine.
Company Overview:
Rheem is one of the major players operating in the Tankless Electric Water Heaters market, holding a share of 24.72% in 2021.
Rheem
Founded in 1925, Rheem is the only manufacturer in the world that produces heating, cooling, water heating, pool/spa heating and commercial refrigeration products. Rheem is headquartered in Atlanta, and it has an international presence in 14 countries. The company's premium brands include Rheem, Raypak, Ruud, Eemax, Richmond and Splendid, as well as commercial refrigeration brands Russell, Witt, ColdZone and Kramer, which are part of the company's Heat Transfer Products Group (HTPG) division.
A.O. Smith
A. O. Smith Corporation is one of the world's leading manufacturers of residential and commercial water heaters and boilers, offering a comprehensive product line featuring the best-known brands in North America, China, and India.
The company was founded in 1874 in Milwaukee, Wisconsin where today the company is headquartered. A. O. Smith employs approximately 16,100 men and women at operations in the United States, Canada, Mexico, China, India, the United Kingdom, the Netherlands, and Turkey, which has the global reach to serve customers worldwide. The company also has sales and distribution in more than 60 countries around the world.
Segmentation Overview:
By type, Whole-House segment accounted for the largest share of market in 2021.
Whole-House
Whole-house tankless electric water heaters provide hot water for the whole house, and support running multiple devices at the same time.
Point-of-Use
Unlike whole-house water heaters, point-of-use water heaters are intended to focus on a singular appliance or device, providing steady hot water to just one faucet. These heaters should be installed as close as possible to the desired device and are commonly chosen to heat household faucets like the shower, kitchen sink, or dishwasher.
Application Overview:
By application, the Retail segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Tankless Electric Water Heaters market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Tankless Electric Water Heaters Market Report:
Market Size Estimates: Tankless Electric Water Heaters market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Tankless Electric Water Heaters market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Tankless Electric Water Heaters market
Segment Market Analysis: Tankless Electric Water Heaters market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Tankless Electric Water Heaters market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Tankless Electric Water Heaters Market: Revenue and sales volume of major countries in each region
Tankless Electric Water Heaters Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Tankless Electric Water Heaters market in major regions.
Tankless Electric Water Heaters Industry Value Chain: Tankless Electric Water Heaters market raw materials & suppliers, manufacturing process, distributors, downstream customers
Tankless Electric Water Heaters Industry News, Policies & Regulations
Key players in the global Tankless Electric Water Heaters market are covered in Chapter 12:
Bradley
Rheem
Stiebel Eltron
Drakken
Eccotemp
Ferroli
Hubbell Heaters
Bosch
MAREY
A.O. Smith
Atmor
In Chapter 2 and Chapter 15.1, based on types, the Tankless Electric Water Heaters market from 2018 to 2028 is primarily split into:
Whole-House
Point-of-Use
In Chapter 3 and Chapter 15.2, based on applications, the Tankless Electric Water Heaters market from 2018 to 2028 covers:
E-commerce
Retail
Wholesale
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Tankless Electric Water Heaters market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028