Asia Pacific Tankless Water Heater Market Size, Share & Industry Analysis Report By Product (Electric, and Gas), By Application (Residential, and Commercial), By Country and Growth Forecast, 2025 - 2032

The Asia Pacific Tankless Water Heater Market would witness market growth of 10.2% CAGR during the forecast period (2025-2032).

The China market dominated the Asia Pacific Tankless Water Heater Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $837.8 million by 2032. The Japan market is registering a CAGR of 9.5% during (2025 - 2032). Additionally, The India market would showcase a CAGR of 11% during (2025 - 2032). The China and Japan led the Asia Pacific Tankless Water Heater Market by Country with a market share of 36.9% and 18.9% in 2024. The Singapore market is expected to witness a CAGR of 12.3% during throughout the forecast period.

The Asia-Pacific tankless water heater market is expanding rapidly, driven by urbanisation, rising incomes, and growing regulatory emphasis on energy efficiency. Historically dominated by storage-tank systems, the region is now transitioning toward compact, high-efficiency, and smart-enabled tankless units. Regulatory developments—such as Singapore’s 2025 MEPS for all household water heaters and Japan’s METI standards targeting higher thermal efficiency—are accelerating adoption and innovation. Markets like India and Southeast Asia are also embracing tankless systems for space-saving and energy-efficient applications in urban housing. The convergence of policy momentum, technological advancement, and shifting consumer behaviour has made tankless systems a mainstream alternative to traditional models.

Strategically, manufacturers are focusing on compliance, localisation, and digital innovation to strengthen competitiveness across diverse markets. Companies are expanding local production, customising designs to regional needs, and building strong installer and retail ecosystems. Education and awareness initiatives emphasising lifecycle savings and retrofit suitability are helping overcome traditional barriers. As hybrid and condensing technologies mature and smart-home integration increases, tankless systems are emerging as key components of Asia-Pacific’s sustainable, energy-efficient housing landscape, marking the segment’s evolution from niche to mass-market relevance.

Product Outlook

Based on Product, the market is segmented into Electric, and Gas. The Electric market segment dominated the China Tankless Water Heater Market by Product is expected to grow at a CAGR of 7.9 % during the forecast period thereby continuing its dominance until 2032. Also, The Gas market is anticipated to grow as a CAGR of 10.1 % during the forecast period during (2025 - 2032).

Free Valuable Insights: The Global Tankless Water Heater Market is Predicted to reach USD 8.06 Billion by 2032, at a CAGR of 9.7%

Application Outlook

Based on Application, the market is segmented into Residential, and Commercial. With a compound annual growth rate (CAGR) of 10.7% over the projection period, the Residential Market, dominate the India Tankless Water Heater Market by Application in 2024 and would be a prominent market until 2032. The Commercial market is expected to witness a CAGR of 11.7% during (2025 - 2032).

Country Outlook

As cities grow, incomes rise, and people want energy-efficient, space-saving solutions, China's tankless water heater market is growing quickly. China's dense urban housing and modernization trends make compact on-demand units a good choice. They provide instant hot water and cut down on standby losses. The China Energy Label program and other government programs are raising awareness and encouraging people to buy energy-efficient appliances. Models that run on both electricity and gas are growing, thanks to strong domestic manufacturing and innovation. But there are still problems, such as higher upfront costs, installers with different levels of experience, and differences in service between regions. Competition is getting tougher between cost-effective domestic companies and high-end international brands. To be successful, companies need to focus on localization, training installers, and providing great after-sales service. Tankless systems are becoming an important part of China's modern, energy-conscious housing landscape as people learn more about them.

List of Key Companies Profiled

• Rheem Manufacturing Company
• Bradford White Corporation
• Robert Bosch GmbH
• Rinnai Corporation
• EcoSmart Green Energy Products, Inc.
• Stiebel Eltron GmbH & Co. KG
• Noritz Corporation
• Kyungdong Navien Co., Ltd.
• Takagi Seiko Co., Ltd.
• A. O. Smith Corporation

Asia Pacific Tankless Water Heater Market Report Segmentation

By Product

• Electric
• Gas

By Application

• Residential
• Commercial

By Country

• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Tankless Water Heater Market, by Product
1.4.2 Asia Pacific Tankless Water Heater Market, by Application
1.4.3 Asia Pacific Tankless Water Heater Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance
2.1 Key Highlights

Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario 
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges

Chapter 4. Market Trends – Asia Pacific Tankless Water Heater Market
Chapter 5. State of Competition – Asia Pacific Tankless Water Heater Market
Chapter 6. Value Chain Analysis of Tankless Water Heater Market
Chapter 7. Competition Analysis - Global
7.1 Strategies Deployed in Tankless Water Heater Market
7.2 Porter Five Forces Analysis

Chapter 8. Product Life Cycle – Tankless Water Heater Market
Chapter 9. Market Consolidation – Tankless Water Heater Market
Chapter 10. Key Customer Criteria – Tankless Water Heater Market
Chapter 11. Asia Pacific Tankless Water Heater Market by Product
11.1 Asia Pacific Electric Market by Country
11.2 Asia Pacific Gas Market by Country

Chapter 12. Asia Pacific Tankless Water Heater Market by Application
12.1 Asia Pacific Residential Market by Country
12.2 Asia Pacific Commercial Market by Country

Chapter 13. Asia Pacific Tankless Water Heater Market by Country
13.1 China Tankless Water Heater Market
13.1.1 China Tankless Water Heater Market by Product
13.1.2 China Tankless Water Heater Market by Application
13.2 Japan Tankless Water Heater Market
13.2.1 Japan Tankless Water Heater Market by Product
13.2.2 Japan Tankless Water Heater Market by Application
13.3 India Tankless Water Heater Market
13.3.1 India Tankless Water Heater Market by Product
13.3.2 India Tankless Water Heater Market by Application
13.4 South Korea Tankless Water Heater Market
13.4.1 South Korea Tankless Water Heater Market by Product
13.4.2 South Korea Tankless Water Heater Market by Application
13.5 Singapore Tankless Water Heater Market
13.5.1 Singapore Tankless Water Heater Market by Product
13.5.2 Singapore Tankless Water Heater Market by Application
13.6 Malaysia Tankless Water Heater Market
13.6.1 Malaysia Tankless Water Heater Market by Product
13.6.2 Malaysia Tankless Water Heater Market by Application
13.7 Rest of Asia Pacific Tankless Water Heater Market
13.7.1 Rest of Asia Pacific Tankless Water Heater Market by Product
13.7.2 Rest of Asia Pacific Tankless Water Heater Market by Application

Chapter 14. Company Profiles
14.1 Rheem Manufacturing Company
14.1.1 Company Overview
14.2 Bradford White Corporation
14.2.1 Company Overview
14.3 Robert Bosch GmbH
14.3.1 Company Overview
14.3.2 Financial Analysis
14.3.3 Segmental and Regional Analysis
14.3.4 Research & Development Expenses
14.3.5 SWOT Analysis
14.4 Rinnai Corporation
14.4.1 Company Overview
14.4.2 Financial Analysis
14.4.3 Recent strategies and developments:
14.4.3.1 Product Launches and Product Expansions:
14.5 EcoSmart Green Energy Products, Inc.
14.5.1 Company Overview
14.5.2 Recent strategies and developments:
14.5.2.1 Product Launches and Product Expansions:
14.6 Stiebel Eltron GmbH & Co. KG
14.6.1 Company Overview
14.6.2 Recent strategies and developments:
14.6.2.1 Partnerships, Collaborations, and Agreements:
14.7 Noritz Corporation
14.7.1 Company Overview
14.7.2 Financial Analysis
14.7.3 Recent strategies and developments:
14.7.3.1 Product Launches and Product Expansions:
14.8 Kyungdong Navien Co., Ltd.
14.8.1 Company Overview
14.9 Takagi Seiko Co., Ltd.
14.9.1 Company Overview
14.9.2 SWOT Analysis
14.10. A. O. Smith Corporation
14.10.1 Company Overview
14.10.2 Financial Analysis
14.10.3 Regional Analysis
14.10.4 Recent strategies and developments:
14.10.4.1 Product Launches and Product Expansions:

TABLE 1 Asia Pacific Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 2 Asia Pacific Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 3 Key Customer Criteria – Tankless Water Heater Market
TABLE 4 Asia Pacific Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 5 Asia Pacific Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 6 Asia Pacific Electric Market by Country, 2021 - 2024, USD Million
TABLE 7 Asia Pacific Electric Market by Country, 2025 - 2032, USD Million
TABLE 8 Asia Pacific Gas Market by Country, 2021 - 2024, USD Million
TABLE 9 Asia Pacific Gas Market by Country, 2025 - 2032, USD Million
TABLE 10 Asia Pacific Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 11 Asia Pacific Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 12 Asia Pacific Residential Market by Country, 2021 - 2024, USD Million
TABLE 13 Asia Pacific Residential Market by Country, 2025 - 2032, USD Million
TABLE 14 Asia Pacific Commercial Market by Country, 2021 - 2024, USD Million
TABLE 15 Asia Pacific Commercial Market by Country, 2025 - 2032, USD Million
TABLE 16 Asia Pacific Tankless Water Heater Market by Country, 2021 - 2024, USD Million
TABLE 17 Asia Pacific Tankless Water Heater Market by Country, 2025 - 2032, USD Million
TABLE 18 China Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 19 China Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 20 China Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 21 China Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 22 China Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 23 China Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 24 Japan Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 25 Japan Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 26 Japan Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 27 Japan Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 28 Japan Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 29 Japan Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 30 India Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 31 India Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 32 India Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 33 India Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 34 India Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 35 India Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 36 South Korea Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 37 South Korea Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 38 South Korea Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 39 South Korea Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 40 South Korea Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 41 South Korea Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 42 Singapore Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 43 Singapore Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 44 Singapore Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 45 Singapore Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 46 Singapore Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 47 Singapore Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 48 Malaysia Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 49 Malaysia Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 50 Malaysia Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 51 Malaysia Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 52 Malaysia Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 53 Malaysia Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 54 Rest of Asia Pacific Tankless Water Heater Market, 2021 - 2024, USD Million
TABLE 55 Rest of Asia Pacific Tankless Water Heater Market, 2025 - 2032, USD Million
TABLE 56 Rest of Asia Pacific Tankless Water Heater Market by Product, 2021 - 2024, USD Million
TABLE 57 Rest of Asia Pacific Tankless Water Heater Market by Product, 2025 - 2032, USD Million
TABLE 58 Rest of Asia Pacific Tankless Water Heater Market by Application, 2021 - 2024, USD Million
TABLE 59 Rest of Asia Pacific Tankless Water Heater Market by Application, 2025 - 2032, USD Million
TABLE 60 Key Information – Rheem Manufacturing Company
TABLE 61 Key Information – Bradford White Corporation
TABLE 62 Key Information – Robert Bosch GmbH
TABLE 63 Key Information – Rinnai Corporation
TABLE 64 Key Information – EcoSmart Green Energy Products, Inc.
TABLE 65 Key Information – Stiebel Eltron GmbH & Co. KG
TABLE 66 Key Information – Noritz Corporation
TABLE 67 Key Information – Kyungdong Navien Co., Ltd.
TABLE 68 key Information – Takagi Seiko Co., Ltd.
TABLE 69 Key Information – A. O. Smith Corporation

List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Tankless Water Heater Market, 2021 - 2032, USD Million
FIG 3 Key Factors Impacting asia pacific Tankless Water Heater Market
FIG 4 Value Chain Analysis of Tankless Water Heater Market
FIG 5 Porter’s Five Forces Analysis – Tankless Water Heater Market
FIG 6 Product Life Cycle – Tankless Water Heater Market
FIG 7 Market Consolidation – Tankless Water Heater Market
FIG 8 Key Customer Criteria – Tankless Water Heater Market
FIG 9 Asia Pacific Tankless Water Heater Market share by Product, 2024
FIG 10 Asia Pacific Tankless Water Heater Market share by Product, 2032
FIG 11 Asia Pacific Tankless Water Heater Market by Product, 2021 - 2032, USD Million
FIG 12 Asia Pacific Tankless Water Heater Market share by Application, 2024
FIG 13 Asia Pacific Tankless Water Heater Market share by Application, 2032
FIG 14 Asia Pacific Tankless Water Heater Market by Application, 2021 - 2032, USD Million
FIG 15 Asia Pacific Tankless Water Heater Market share by Country, 2024
FIG 16 Asia Pacific Tankless Water Heater Market share by Country, 2032
FIG 17 Asia Pacific Tankless Water Heater Market by Country, 2021 - 2032, USD Million
FIG 18 SWOT Analysis: Robert Bosch GmbH
FIG 19 SWOT Analysis: Takagi Seiko Co., Ltd.