U.S. Tankless Water Heater Market Size & Outlook
U.S. tankless water heater market, 2018-2030 (US$M)
Related Markets
U.S. tankless water heater market highlights
- The U.S. tankless water heater market generated a revenue of USD 654.8 million in 2023 and is expected to reach USD 1,297.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 10.3% from 2024 to 2030.
- In terms of segment, electric was the largest revenue generating product in 2023.
- Electric is the most lucrative product segment registering the fastest growth during the forecast period.
Tankless water heater market data book summary
| Market revenue in 2023 | USD 654.8 million |
| Market revenue in 2030 | USD 1,297.4 million |
| Growth rate | 10.3% (CAGR from 2023 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electric, Gas |
| Key market players worldwide | A.O. Smith Corp, Palomar Holdings Inc, Rinnai Corp, Stiebel Eltron, Takagi Seiko, Noritz Corp, Navient Corp |
Other key industry trends
- In terms of revenue, U.S. accounted for 17.5% of the global tankless water heater market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. tankless water heater market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 1,297.4 million by 2030.
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Tankless Water Heater Market Scope
Tankless Water Heater Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. tankless water heater market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to tankless water heater market will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 68.19% in 2023. Horizon Databook has segmented the U.S. tankless water heater market based on electric, gas covering the revenue growth of each sub-segment from 2018 to 2030.
The tankless water heating systems are gaining popularity among the U.S. consumers as it saves both energy and space. As reported by the U.S. Energy Information Administration, water heating is the second largest residential energy use. Using the tankless products consumers will be able to reduce this energy consumption.
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Target buyers of U.S. tankless water heater market databook
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. tankless water heater market , including forecasts for subscribers. This country databook contains high-level insights into U.S. tankless water heater market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. tankless water heater market size, by product, 2018-2030 (US$M)
U.S. Tankless Water Heater Market Outlook Share, 2023 & 2030 (US$M)
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