The North American tankless water heater market is estimated to grow significantly at a CAGR of 7.0% during the forecast period. The market is mainly driven due to the growing demand of convenient water heater system in residential sector coupled with developed infrastructure in the region. The significant application of water heaters in the region further encourages the growth of the market.  Every year, more than 9 million water heaters are sold in the US which implies that there is a high demand for water heater in North America that further provide a significant share of the market. 

The North American market for the tankless water heater is further classified on the basis of product type and application. Based on the product type, the market is further classified into an electric water heater and gas water heater. The electric water heater segment is projected to have significant growth in the North American tankless water heater market. The growing demand for tankless electric water heater in the residential and commercial sectors due to convenience and cost-effectiveness is further projected to contribute to the growth of the segmental market.   On the basis of application, the market is further segregated into residential and commercial. The residential application is projected to hold a considerable share in the North American tankless water heater market. Based on geography, the North American tankless water heater market is further segregated into the US and Canada. Us holds the largest share in the North American tankless water heater market owing to the significant application in the commercial sector.

The companies which are contributing to the growth of the North American tankless water heater market include A.O. Smith Corp., Bradford White Corp., Navien Inc., NORITZ Corp., General Electric Co., Robert Bosch GmbH, Navien Inc., NORITZ Corp., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market. 

Research Methodology

The market study of the North American tankless water heater market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for tankless water heater providers, end-user for overall market analysis, and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.

Market Segmentation

1. North American Tankless Water Heater Market Research and Analysis by Product Type
2. North American Tankless Water Heater Market Research and Analysis by  Application

The Report Covers

• Comprehensive research methodology of the North American Tankless water heater market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American Tankless water heater market.
• Insights about market determinants which are stimulating the North American Tankless water heater market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.