According to Coherent Market Insights, the global tankless water heater market is estimated to account for $29.7 billion in terms of value by the end of 2027, witnessing a compound annual growth rate of 5.7% during the forecast period 2020-2027.
There are many benefits of tankless heaters that have driven the market to this growth — space saving and efficiency for example — and as the consumer demand for instant, endless hot water increases, so does the demand for tankless.