Home Tankless Electric Water Heater Market size is estimated to be USD 1.1 Billion in 2024 and is expected to reach USD 2.2 Billion by 2033 at a CAGR of 8.5% from 2026 to 2033.
The global home tankless electric water heater market was valued at approximately USD 3.5 billion in 2022 and is projected to reach around USD 6.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. This growth is driven by increasing consumer awareness of energy efficiency and the demand for space saving water heating solutions. North America leads the market, with Europe following closely, due to mature residential sectors and stringent energy efficiency regulations. The Asia Pacific region is expected to witness significant growth, particularly in countries like China, India, and Japan, fueled by rapid urbanization and rising disposable incomes. In India, the electric water heater market reached USD 308.0 million in 2024 and is anticipated to grow at a CAGR of 7.20% from 2025 to 2033, reaching USD 575.0 million by 2033. This growth is attributed to increasing adoption in residential sectors and changing architectural designs of buildings.
Opportunities in the market include the development of smart, connected water heaters that integrate with home automation systems, catering to the growing trend of smart homes. Additionally, the rising emphasis on sustainable and eco friendly products presents avenues for innovation in energy efficient and environmentally friendly water heating solutions. The shift from traditional water heating equipment to electric tankless systems is further bolstered by government incentives and policies promoting energy conservation, providing a conducive environment for market expansion. As consumers increasingly prioritize energy efficiency and convenience, the demand for home tankless electric water heaters is expected to continue its upward trajectory.
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Stiebel Eltron
Rheem
Bosch
Bradford White Corporation
Eemax
Hubbell
Atmor
Eccotemp Systems
Drakken
Midea Group
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 Home Tankless Electric Water Heater Market
Point-of-Use Tankless Electric Water Heaters
Whole House Tankless Electric Water Heaters
Condensing Tankless Electric Water Heaters
Non-Condensing Tankless Electric Water Heaters
Wall-Mounted Installation
Floor-Mounted Installation
Outdoor Installation
Electric Heaters
Hybrid Systems
Solar-Assisted Tankless Heaters
Low Capacity (1-2 GPM)
Medium Capacity (2-4 GPM)
High Capacity (4+ GPM)
Residential Consumers
Commercial Consumers
Industrial Consumers
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 Home Tankless Electric Water Heater 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 Home Tankless Electric Water Heater Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Home Tankless Electric Water Heater Market, By Type
6. Global Home Tankless Electric Water Heater Market, By Application
7. Global Home Tankless Electric Water Heater Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Home Tankless Electric Water Heater Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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