September 18, 2019
Global instant water heater market is anticipated to cross USD 15 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
Instant water heater market is driven by the extensive infrastructural expansion owing to rise in investment by the government authorities around the globe. Strict industry policies are compelling the domestic establishments to replace the conventional heating systems. This factor, along with the government initiatives to install energy efficient heating systems and increasing construction of zero emission infrastructure will augment the instant water heater market growth.
As per the report, increasing demand for instant hot water source across offices and educational institutions will foster the growth of tankless water heater market. These heaters offer various features such as low power consumption, compact designs, on-demand heating, and low standby loss.
Based on application spectrum, instant water heater market from commercial segment is presumed to grow significantly over the forecast period, owing to increasing inclination towards point of use heating technologies, along with the requirement of reliable hot water supply primarily across hospitals and hotels.
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