UK Tankless Water Heater Market 2020-2026
Full-title:UK Tankless Water Heater Market Size, Share & Trends Analysis Report by Product Type (Electric Water Heater and Gas Water Heater), by Application(Residential and Commercial) and Forecast 2020-2026.
The UK tankless water heater market is estimated to grow significantly during the forecast period. The market is mainly driven due to various factors including the rising demand for convenient and energy-efficient water heating solutions in the residential and commercial sectors. Additionally, the commercial sector is one of the major end-users for water heaters due to widespread water heating applications in power plants in the country. Single or multiple water heaters are used in various energy-based industries in order to increase the efficiency of energy generation. In the commercial sector, automotive production, manufacturing industry, energy generation facilities and others contribute to the heat demand. Demand for heat pumps for water heating is expected to increase due to the growing application of water heating equipment in the commercial sector. However, high initial cost and low capacity are further projected to hinder the market growth during the forecast period.
The UK 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 UK 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 UK tankless water heater market.
The companies which are contributing to the growth of the UK tankless water heater market include A.O. Smith Corp., Bradford White Corp., Robert Bosch GmbH, Rinnai Corp., Navien Inc., Rheem Manufacturing Company, Inc., 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.
The market study of the UK 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:
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.
The Report Covers: