Rising
demand for energy saving and advanced home appliances is the one of the major
factors which is driving the growth of electric tankless water heater market
across the globe. The rising investment in real estate sector further enhancing
the construction and housing sectors with advanced and luxury facilities. The
rising luxury residential societies across the globe are likely to boost the
demand for energy efficient and advanced home appliances such as electric
tankless water heaters.
Global electric tankless water
heater market
is expected to flourish at an annual compound growth rate (CAGR) of 6.19% during
the forecast period i.e. 2016-2023.
The demand
from residential sector is slated to dominate the market and is anticipated to
have a share of more than 65.22% by 2023. The indoor electric tankless water
heater is estimated to remain highest from the residential sector. Spiked growth
in residential sector, urbanization and rising adoption of energy saving
tankless water heaters across the globe is expected to propel the global
electric tankless water heater market in the upcoming years.
Global
electric tankless water heater market is segmented on the basis of application
type, setup location type, features and region. Based on the application type,
the market is further sub-divided into the residential sector and commercial
sector electric tankless water heater market. With revenue of USD 620 Million,
the residential sector captured the highest share in 2016. Residential sector is
further projected to witness the CAGR of 5.83% during the forecast period i.e.
2016-2023.
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The report
titled “Global Electric Tankless Water Heater Market Outlook 2023” also
includes some prominent market analyzing parameters such as industry growth
drivers, restraints, supply and demand risk, market attractiveness,
year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS
analysis, SWOT analysis and Porter’s five force model.
This
report also studies existing competitive scenario of some of the key players of
electric tankless water Heater market which includes profiling of Rinnai
Corporation, Noritz Corporation, Bosch GmbH, A.O. Smith Corporation, Hotter
Electric (A subsidiary of Zriha Hlavin Industries Ltd.), Atmor & Eemax,
Inc., Stiebel Eltron, Alpha Electric Co. The profiling enfolds key information
of the companies which comprises of business overview, products and services,
key financials and recent news and developments. Conclusively, the report
titled “Global Electric Tankless Water Heater Market Outlook 2023”, analyses
the overall electric tankless water heater industry to help new entrants to
understand the details of the market. In addition to that, this report also
guides existing players looking for expansion and major investors looking for
investment in Global Electric Tankless Water Heater Market in near future.
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