The global instant water heater market is expected to surpass $15bn by 2024, observed a recent study by Global Market Insights, Inc. Apart from rapid industry developments, increasing funding toward apartments in the US will boost the sector’s growth.
A report on GlobleNewswire reads: “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.”
In 2017, Asia Pacific tankless water heater market was valued at over $3bn. But this is not it. Rise in disposable incomes, especially across China and India will enable the sector is grow.