Non-Condensing Tankless Water Heaters Market size is estimated to be USD 2.5 Billion in 2024 and is expected to reach USD 4.1 Billion by 2033 at a CAGR of 6.2% from 2026 to 2033.
The global Non-Condensing Tankless Water Heaters Market was valued at USD 3.45 billion in 2022, with a projected compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. This growth is attributed to the increasing demand for energy-efficient water heating solutions in residential and commercial sectors. Non-condensing tankless water heaters, which are widely adopted due to their compact size, lower initial costs, and ability to provide hot water on-demand, are anticipated to witness significant demand, especially in regions with a focus on cost-effective heating solutions. These units are gaining popularity in markets like North America and Europe, where energy efficiency regulations and consumer preferences for energy-saving technologies are driving their adoption.
Regionally, North America dominates the market, contributing a significant share due to the high adoption rate in the U.S. and Canada, where energy conservation is a priority. In 2022, North America accounted for over 35% of the market. Europe follows with strong growth, driven by regulations favoring energy-efficient appliances and growing environmental awareness. The Asia-Pacific region, particularly countries like China and Japan, is expected to experience rapid growth, given the increasing urbanization and demand for residential water heating systems. Latin America and the Middle East & Africa are also expected to contribute to market growth, albeit at a slower pace, as these regions are still developing energy-efficient infrastructure for residential and commercial applications.
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Bosch
Gree Electric Appliances
Rheem
A. O. Smith
Haier
Navien
Midea Group
GSW
Rinnai Corporation
State Water Heaters
Ruud
Bradford White
Noritz
Crompton Greaves
Ningbo Fotile
Guangdong Macro Gas Appliance
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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. 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 Non-Condensing Tankless Water Heaters Market
Natural Gas
Propane
Electricity
Residential
Commercial
Industrial
Low Capacity (up to 5 GPM)
Medium Capacity (5 GPM to 10 GPM)
High Capacity (more than 10 GPM)
Point-of-Use Heaters
Whole House Heaters
Wall-Mounted
Floor-Mounted
US (United States, US 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 Non-Condensing Tankless 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 Non-Condensing Tankless Water Heaters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Non-Condensing Tankless Water Heaters Market, By Type
6. Global Non-Condensing Tankless Water Heaters Market, By Application
7. Global Non-Condensing Tankless Water Heaters Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Non-Condensing Tankless Water Heaters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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