Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Growing Awareness Towards Energy Efficiency, Increasing Disposable Incomes, and Changing Lifestyle Trends to Drive the Market
* Required Fields
Pay by invoice
The tankless water heaters market is in a nascent stage in the country. However, it has the potential to replace storage water heaters in the long term. Increasing awareness levels of the product and the need for energy savings will drive the market. The market is dominated by storage electric water heaters. There is strong growth of solar water heaters, and instant water heaters also have found adoption. Tankless water heaters are often confused with instant water heaters, and increasing awareness campaigns by suppliers will increase penetration in the long term. India has a fast urbanization rate and the urban population is expected to reach almost 60 crore by 2031. The growing urban population will look for efficiency, convenience, and the aesthetic appeal of the environment they live in. Tankless water heaters provide an option of concealed heaters, saving space and retaining the appeal of the environment at home. Convenience and efficiency of the product will drive demand. Government policies have placed emphasis on energy-efficient systems. The BEE ratings have helped organized participants in the market overcome the challenge of the non-branded products. Tankless water heaters are offered a rating of 3 stars or more and have better longevity, creating an appealing prospect. A key advantage of tankless water heaters is that they do not produce the standby energy losses associated with storage water heaters, thus saving energy. This is a big plus considering the high energy costs. The government's focus on saving energy and promoting equipment that help do so will assist growth. The residential sector is the largest revenue contributor for tankless water heaters. Revival of the real estate market (which is expected to reach INR 12.2 lakh crore by 2020 from an estimated INR 10.5 lakh crore in 2018) provides a positive base for growth. Demand will arise from commercial end users and high-value installations will boost the growth of the market. Tankless water heater sales is restricted to the western part of the country, especially Mumbai. Tankless water heaters require high wattages and the wiring requirement and load capacity offered by the Electricity Board in Mumbai is compatible for the usage of tankless water heaters, driving adoption. The trend in Mumbai has been quick adoption of heaters that take up less space. Instant water heaters found high penetration in the region initially and the pattern is similar for tankless water heaters. This demand is likely to see adoption in neighboring cities such as Pune. Author: Manu Tiwari
VCSEL Technology: Impact and Opportunity Assessment
Indian Food and Beverage Vending Machines Market, Forecast to 2023
Global IP Surveillance Cameras Market, Forecast to 2024
Connected Lighting Systems in India, 2018
Assessment of Kitchen Appliances Market in India, FY2018
Opportunities for Electronic Manufacturing Services (EMS) industry in India
Sri Lankan Air Conditioning Market, Forecast to 2022
Indian Water Purifiers Market, FY2018
Indian Facility Management (FM) Services Market, Forecast to FY2023
Global Self-Service Kiosks Market, Forecast to 2022
Fill in the fields below to receive a sample report
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.