Rising urbanization act as a catalyst in the Indian Tankless Water Heater Market

The Indian tankless water heater market is projected to grow significantly during the forecast period (2020-2026). The major factor that propels the market growth in the country includes the growing growing urbanization in the country creates the demand for the tankless water heater. India accounted for 33.1% urban population in 2016 that increased to 33.6% in 2017 as per the World Bank data,  With the significant growth in urbanization and rising per capita income encourages the demand for advanced and smart features in the residential and commercial segment in terms of water heating that propel the tankless water heater market growth in the country. 

Browse the full report description Indian 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 at https://www.omrglobal.com/industry-reports/indian-tankless-water-heater-market 

Moreover, the government support for the adoption of energy-efficient water heater further propels the market growth. The Government of India offers a subsidy to a certain extent, around 30% to 60% to water heater consumers, on the basis of the category of users and states:

• The general category stipulates that for all types of beneficiaries: 30% capital subsidy or loan at 5% interest on 80% of the benchmark cost of the water heater.
• Special category stipulates that for domestic & non-commercial categories (not availing accelerated depreciation): 60% capital subsidy or loan at 5% interest on 80% of the benchmark cost of the water heater.
• Special category states for commercial users’ category (availing accelerated depreciation): 30% capital subsidy or loan at 5% interest on 80% of the benchmark cost.
• Actual Amount of Subsidy ETC based system $64.4 per 100 liters per day (lpd) system in General category states & $129 in special category states or 30%/ 60% of benchmark cost whichever is less. 

Flat plate collectors (FPC) based system $94.5 per 100 lpd system in General category states & $189 in special category states or 30%/ 60% of benchmark cost whichever is less

Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in base year?
• Which segment/region will project fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?

o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region/segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Indian Tankless Water Heater Market – Segmentation

By Product Type

• Electric Water Heater
• Gas Water Heater

By Application

• Residential
• Commercial