Asia-Pacific tankless water heater market is estimated to grow significantly at a CAGR of 8.9% during the forecast period. The market for the tankless water heater in the region is mainly driven due to the growing demand for compact and energy-efficient water heaters. With the adoption of high-end large and smart capacity products, the water heater witnessing customization and technological development in the region that propel the market growth. Moreover, a growing urban population coupled with disposable income raises the installation of the water heating solutions in the urban area that are further projected to provide ample opportunity to the market.
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The Asia-Pacific market for the tankless water heater is further classified on the basis of product type and application. Based on the product type, the market is further classified into an electric water heater and gas water heater. The electric water heater segment is projected to have significant growth in the Asia-Pacific tankless water heater market. The growing demand for tankless electric water heater in the residential and commercial sectors due to convenience and cost-effectiveness is further projected to contribute to the growth of the segmental market. On the basis of application, the market is further segregated into residential and commercial. The residential application is projected to hold a considerable share in the Asia-Pacific tankless water heater market. Based on geography, the Asia-Pacific tankless water heater market is further segregated into China, India, Japan and the Rest of Asia-Pacific. India is projected to have significant growth in the Asia-Pacific tankless water heater market owing to the significant application in the commercial sector.
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The companies which are contributing to the growth of the Asia-Pacific tankless water heater market include Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Ltd., Haier Electronics Group Co., Ltd., Havells India Ltd., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.
Market Segmentation
Asia-Pacific Tankless Water Heater Market by Product Type
• Electric Water Heater
• Gas Water Heater
Asia-Pacific Tankless Water Heater Market by Application
• Residential
• Commercial
Company Profiles
A.O. Smith Corp.
Bajaj Electricals Ltd.
Crompton Greaves Consumer Electricals Ltd.
General Electric Co.
Haier Electronics Group Co., Ltd.
Havells India Ltd.
Robert Bosch GmbH
Rheem Manufacturing Company, Inc.
Rinnai Corp.
Racold Thermo Pvt. Ltd.
Venus home appliance
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