The Tankless Water Heater Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Tankless Water Heater Market?
The Tankless Water Heater Global Market has exhibited solid growth historically. The market size expanded from $4.55 billion in 2024 to $4.95 billion in 2025, showing a compound annual growth rate (CAGR) of 8.8%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Tankless Water Heater Industry?
The Tankless Water Heater Global Market is projected to reach a market size of $6.52 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.1%.
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What are the Key Growth Drivers Fueling the Tankless Water Heater Market?
The key drivers in the tankless water heater market are:
• Integration with smart home technologies.
• Efforts aimed at water conservation.
• Use of hybrid tankless systems.
• The widening application of tankless water heaters in commercial sectors.
Global Market Segmentation: Identifying Major Tankless Water Heater Industry Segments
The tankless water heater market covered in this report is segmented –
1) By Type: Condensing, Non-Condensing
2) By Energy Source: Electric, Gas
3) By Application: Residential, Commercial
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What are the Emerging Trends Shaping the Future of the Tankless Water Heater Market?
The key trends in the tankless water heater market are:
• Advancements in technology are guiding the future trends in the tankless water heater market.
• The integration of smart technologies in tankless water heaters is an emerging trend.
• There is a growing preference for compact and space-saving designs in tankless water heaters.
• The evolution of advanced water heating technologies and hybrid tankless systems are leading trends.
Who Are the Top Competitors & Leading Players in the Tankless Water Heater Market?
Major companies in the tankless water heater market are:
• Robert Bosch GmbH
• General Electric
• Haier Group Corporation
• Honeywell International Inc.
• Whirlpool Corporation
• Paloma Industries Ltd.
• Westinghouse Electric Corporation
• Vaillant Group
• A.O. Smith Corporation
• Rinnai Corporation
• Ariston Thermo Group
• Rheem Manufacturing Company
• Stiebel Eltron GmbH & Co. KG
• Bajaj Electricals Ltd.
• Groupe Atlantic
• Ferroli S.p.A.
• V-Guard Industries Ltd.
• Bradford White Corporation
• Noritz Corporation
• EcoSmart Green Energy Products, Inc.
• Navien Inc.
• Hubbell Electric Heater Company
• Laars Heating Systems
• Eccotemp Systems LLC
• Takagi Industrial Co. Ltd.
Regional Dominance: Which Area Leads the Global Tankless Water Heater Market?
Europe was the largest region in the tankless water heater market in 2024
