Asia-Pacific Tankless Water Heater Market Size | COVID-19 Impact Analysis | Forecast to 2026

Asia-Pacific tankless water heater market is projected to grow at a significant  CAGR of 8.9% during the forecast period (2020-2026). Asia-Pacific tankless water heater market is being mainly driven by the growing urbanization coupled with increasing energy demand in emerging economies such as China and India. Australia, South Korea, and Taiwan are the other key countries contributing to the market owing to increasing demand for tankless water heater coupled with rising installations in commercial sectors. There are various manufacturers such as Kyung Dong Navien, Kiturami, Ltd. and others that offer various technology in water heating systems in a region that would contribute to the growth of the market. Kyung Dong Navien Inc. is a South Korea based company that offers NPE series of condensing tankless water heaters for residential, and commercial applications. 

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Gas instantaneous water heaters, electric storage water heaters, and gas storage water heaters must fulfill minimum energy performance (MEPS) requirements under Greenhouse and Energy Minimum Standards (GEMS). Additionally, the E3 program regulates hot water heaters for MEPS and compliance against those standards. These standards influenced the water heater market in the region. Additionally, the program raises better energy efficiency through industry capacity building, consumer information, and innovation support. Administrative aims for the E3 Hot Waterwork program include the development of a complete and combined method to energy effectiveness across hot water technologies. Therefore these types of initiatives for the energy-efficient water heaters further provide a significant opportunity to the Asia-Pacific tankless water heater market.

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Asia-Pacific Tankless Water Heater Market – Segmentation

By Product Type

·        Electric Water Heater

·        Gas Water Heater

By Application

·        Residential

·        Commercial

Asia-Pacific Tankless Water Heater Market – Segmentation by Geography

·        China

·        India 

·        Japan

Rest of Asia-Pacific

Company Profiles

·        A.O. Smith Corp.

·        Bajaj Electricals Ltd.

·        Crompton Greaves Consumer Electricals Ltd.

·        General Electric Co.

·        Haier Electronics Group Co., Ltd.

·        Havells India Ltd. 

·        Robert Bosch GmbH

·        Rheem Manufacturing Company, Inc.

·        Rinnai Corp.

·        Racold Thermo Pvt. Ltd.

·        Venus home appliance

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