Point-of-use Electric Mini-tank Water Heaters Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.9 Billion by 2030, growing at a CAGR of 8.8% from 2024 to 2030.
The global point-of-use electric mini-tank water heaters market was valued at approximately USD 1.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030. This growth is driven by increasing consumer demand for energy-efficient and space-saving water heating solutions in residential and commercial applications. As the emphasis on energy conservation and the shift towards smaller, more efficient appliances continue to gain traction, the market for these compact water heaters is expected to expand significantly. The North American and European markets, with their high adoption rates of advanced home appliances and stringent energy regulations, represent significant shares of this growth.
Emerging markets, particularly in Asia-Pacific, are also witnessing substantial opportunities due to rapid urbanization, rising disposable incomes, and the increasing need for point-of-use water heating solutions in small residential units. These regions are anticipated to contribute notably to the market’s expansion, driven by ongoing infrastructure development and a growing preference for on-demand water heating systems. The rising trend towards smart home technologies and the integration of IoT capabilities in water heating solutions further enhance the growth prospects in these regions, offering significant opportunities for market players to tap into new consumer segments and applications.
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Bosch
Rheem
A. O. Smith
Stiebel Eltron
Bradford White Corporation
Eemax
Hubbell
Atmor
Eccotemp Systems
Drakken
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Point-of-use Electric Mini-tank Water Heaters Market
Commercial Application
Residential Application
Based on Types the Market is categorized into Below types that held the largest Point-of-use Electric Mini-tank Water Heaters market share In 2023.
Less than 2 Gallon
2. to 5 Gallon
5.1 to 7 Gallon
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Point-of-use Electric Mini-tank Water Heaters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Point-of-use Electric Mini-tank Water Heaters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Point-of-use Electric Mini-tank Water Heaters Market, By Type
6. Global Point-of-use Electric Mini-tank Water Heaters Market, By Application
7. Global Point-of-use Electric Mini-tank Water Heaters Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Point-of-use Electric Mini-tank Water Heaters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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