Sellbyville, DE -- (SBWIRE) -- 05/06/2019 -- Instant Water Heater Market size will surpass USD 15 billion by 2024, as reported in the latest study by Global Market Insights, Inc.

Rapid infrastructural development on account of increasing funding by respective government authorities will fuel the tankless water heater market growth. Ongoing replacement of conventional heating systems primarily across residential establishments on account of strict industry norms have instigated the industry growth. In addition, growing development of zero emission buildings coupled with government mandates toward deployment of energy efficient technologies primarily across newly constructed properties will further augment the business landscape.

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Additionally, regulatory measures in various countries and regions are dictating the minimum energy efficiency standards for energy consuming devices. Such legislative regulations are also adding an additional impetus to the growth of the instant water heater market as many older and energy inefficient water heaters are being replaced with technologically advanced ones.

Speaking of updated regulations to combat the effects of climate change, an instance that can be cited is that of the U.S. minimum energy conservation standards which were made official in 2015. According to the updated standards, known as the National Appliance Energy Conservation Act, water heaters with tanks have to be larger in storage capacity in order to comply with the new minimum energy efficiency standards, in turn requiring larger storage tanks and needing more space for installation.

What Information does this report contain?
- Historical data coverage: 2013 to 2017
- Growth Projections: 2018 to 2024.
- Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
- 6-7-year performance forecasts: major segments covering applications, top products and geographies.
- Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

- Leadership figures such as CEOs, CSOs, VPs etc. in key companies
- Supply-chain participants, distributors and domain experts
- Key customers and B2B clients

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Easy installation, reduction in components cost and low power consumption will fuel the electric water heater market growth. Wide electricity supply network and simple design structure are the key factors responsible for product adoption. High preference over gas substitutes on account of low standby heat loss and high energy factor coupled with less regulatory intricacies associated with electric variants will further lead to product penetration.

Key participants operating across instant water heater market include, Rinnai, A.O Smith, Bosch, Rheem, Ferroli, State Industries, Linuo Ritter, Haier Electronics, Bradford White, Jaquar, Saudi Ceramics, Hubbell, Ariston Thermo, Vaillant, Whirlpool, Viessmann and Kanch Water Heaters.