European tankless water heater market is estimated to grow significantly at a CAGR of 8.0% during the forecast period. The European tankless water heater market is mainly driven due to the rising demand for energy-efficient water heater in the residential sector and growing energy demand in the commercial sector. In the region the water heating is utilized for space heating, cooking, sanitary applications, and various others in the residential and commercial sector, As per the European Commission, more than 64.7% of the energy consumption in the household is contributed by space heating in 2018. Moreover, the favorable government policies for renewable energy are projected to provide ample opportunity to the tankless water heater market in the region.
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The European 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 European 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 European tankless water heater market. Based on geography, the European tankless water heater market is further segregated into UK, Germany, France, Spain, Italy and the Rest of Europe. UK holds the largest share in the European 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 European tankless water heater market include A.O. Smith Corp., Bradford White Corp., Robert Bosch GmbH, Rinnai Corp., General Electric Co., Rheem Manufacturing Company, Inc., 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
European Tankless Water Heater Market by Product Type
• Electric Water Heater
• Gas Water Heater
European Tankless Water Heater Market by Application
• Residential
• Commercial
Regional Analysis
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
Company Profiles
A.O. Smith Corp.
ATC Electrical and Mechanical, Ltd.
Bradford White Corp.
General Electric Co.
Navien Inc.
NORITZ Corp.
Robert Bosch GmbH
Rheem Manufacturing Company, Inc.
Rinnai Corp.
Stiebel Eltron, Inc.
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