Unveiling the Tankless Water Heater Market: In-Depth Analysis of Key Growth Drivers and Emerging Trends
According to the research report, the global tankless water heater market was valued at USD 3.36 billion in 2021 and is expected to reach USD 6.97 billion by 2030, to grow at a CAGR of 8.5% during the forecast period. Tankless Water Heater Market Overview The tankless water heater market is witnessing strong growth as consumers and industries increasingly move toward energy-efficient and space-saving water heating solutions. Unlike traditional storage water heaters, tankless systems heat water on demand, eliminating the need for a storage tank and reducing standby energy losses. These systems are gaining popularity due to their longer lifespan, compact design, and ability to deliver continuous hot water, making them ideal for both residential and commercial applications. The global shift toward sustainability and energy conservation has significantly accelerated the adoption of tankless water heaters. Manufacturers are focusing on developing technologically advanced m...