Tankless water heaters also referred to as demand-type water heaters or an instant water heater that provides hot water instantly or on-demand. These water heaters can be installed in a closet or on exterior walls and can give the endless source of hot water by while saving money on energy by heating or reheating the same tank. Tankless water heaters are widely used across residential as well as commercial spaces. Tankless water heaters are highly durable and can be last for many years. Moreover, it lowers the energy bills by up to saving 40%energy as these heaters are highly efficient.

The global tankless water heater market is estimated to account for US$ 29.7 billion in terms of revenue by the end of 2027, growing at a CAGR of 5.4% during the forecast period (2019-2027).

Market Dynamics
The global tankless water heater market has witness a growth in recent few years, owing to the higher energy saving potential of tankless water heaters. Furthermore, they provide a continuous flow of water supply and are more compactly designed as compared to the standard storage water tanks on account of which they are vastly preferred in the indoors.

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Major Keyplayers: Rheem Manufacturing Company, Rinnai Corporation, A. O. Smith, Noritz America Corp., Ariston Thermo Group, Kyungdong Navien Co., Ltd., Stiebel Eltron GmbH & Co. KG, Bradford White Corp., Haier Electronics Group Co, Ltd., and Bajaj Electricals Ltd.

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