European Instant Water Heater Market size is set to cross USD 1.7 billion by 2026, according to a latest forecast report by Graphical Research.
Europe instant water heater market is anticipated to rise on account of ongoing promotion of sustainable energy use followed by the adoption of circular economy strategies. Ongoing adoption of energy efficient heating products along with significant investments toward research & development will augment the business outlook. Furthermore, heightened product advancements including mobile remote controlling, multiple options for communication and leak spotting techniques coupled with improvement in efficiency in the existing models will fuel the industry growth.
Growing investments by respective governments and global institutions including World Bank toward mega establishment projects along with increased disposable income will trigger the industry growth. Substantial decrease in the price of electricity bills coupled with lucrative tax credit initiatives will ease the financial restraints towards product deployment. Further, stricter emission norms focusing on sustainable technology along with growing concerns toward reducing overall heating load will positively enhance the industry outlook.
Commercial instant water heater market is set to grow on account of prospering tourism and adoption of intelligent building concept which facilitates optimization of systems, structure, services and management. Moreover, meticulous building codes and standards for instance, Energy Performance of Buildings Directive (EPBD) towards deployment of energy efficient heating appliances will aggravate the product deployment.
Europe instant water heater market is set to grow owing to the low carbon footprint mindset and well-developed gas network in the region. High heating output, mass flow along with key product specifications including compact designs and space optimization will accelerate the product penetration. Availability of piped natural gas connection at consumer end along with competitive gas pricing will stimulate the product adoption.
Sweden instant water heater market is anticipated to rise owing to thriving tourism sector and ongoing green building developments across the nation. As per Environmental Performance Index 2018, Sweden ranks in the top 5, thereby facilitating the product adoption. In addition, extreme temperatures drop, as low as -22 to -30°C during winters will boost the demand for hot water that will complement the business landscape. On demand heating, cost optimization and energy savings will further enhance the business outlook.
Key participants operating across this industry includes Ferroli, Whirlpool, A.O Smith, Bradford White, Havells India Ltd., Rinnai, Racold, Viessmann Group, Haier Electronics and Vaillant Group. Latest advancements include introduction of the connectivity platform for remote monitoring and assisting in providing crucial data pertaining to the health and water heater performance will facilitate positive industry growth.
Europe Instant Water Heater Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
Europe Instant Water Heater Market Share, By Energy Source
- Natural Gas
Europe Instant Water Heater Market Size, By Application