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The global tank-less water heater market is growing, due to several advantages over traditional storage type water heaters. The tank-less water heaters releases less mono nitrogen oxide, in comparison to other storage type water heaters. They are also more energy efficient, as compared to the conventional storage type water heaters. Additionally, more precise system redundancy and temperature control is provided by tank-less water heaters. Some of the factors restraining the growth of the global tank-less water heater market are complicated installation design requirements, less flow and pressure drop rate related issues, and customization based sizing requirements.
Asia-Pacific leads the global tank-less water heater market. In North America, the tank-less water heater market is still in its nascent stage; however it is growing at a significant rate. One of the major restraints in the growth of the North American tank-less water heater market is low capacity level of the heater. However, with the technological advancements, the tank-less water heaters with capacity of 3.2 gallon per minute are available in the market. Such technological advancement are providing ample opportunities for the growth of North American tank-less water heater market in the coming years.
In storage type water heaters, huge amount of energy is wasted by heating a huge tank of water over imprecise period of time. On the other hand, in the tank-less water heaters, the water is heated when it passes across the water heater equipment, and then the hot water is supplied immediately. When hot water tap is opened, the tank-less water heater turns on and when the tap is closed, the tank-less water heater turns off. Additionally, the tank-less water heater reduces stand-by losses.
The tank-less water heaters can be installed at various locations, such as business or home, and some tank-less water heaters are also portable. For businesses, such tank-less water heaters are used, which provide small amount of hot water for sinks; while for big households, the tank-less water heaters which provide sufficient hot water for a huge family are used. Tank-less water heaters vary in their sizes and can be installed in closets or even under a sink. The temperature of hot water coming out of the tank-less water heaters depends on the size of unit. While choosing a customized water heater, three main factors should be accounted, including maximum desired flow rate, incoming water temperature, and desired type of heater, such as propane or natural gas model and electric model.
Some of the competitors in the global tank-less water heater market are Ariston Thermo SPA, Haier Inc., Noritz Corporation, Bradford White Corp., Bajaj Electricals Ltd., Siemens AG, Rheem Manufacturing Company, A. O. Smith Corporation, Heat Transfer Products Inc., Crompton Greaves Ltd., and Rinnai Corporation. Some of the companies offer tank-less water heaters under two categories, such as condensing and non-condensing technology tank-less water heaters.
Global Tank-less Water Heater Market Segmentation:
By Type of Energy Consumption
By Design Technology
By End User