The Latin America, Middle East and Africa Tankless Water Heater Market would witness market growth of 8.7% CAGR during the forecast period (2022-2028).
For instance, if a tankless unit must provide 4 GPM of hot water on demand, it could only be able to raise the temperature of incoming water by 50°F. However, if the same tankless unit is required to flow at a rate of 1 GPM, it might be able to raise the temperature of flowing water by 90°F. As a result, while evaluating a tankless water heater's capacity, it is important to consider both the highest flow rate and the resulting increase in water temperature.
Hot water that is 120°F or above is often needed for household hot water requirements like showers and laundry. The tankless water heater must raise the water's temperature by 70 degrees if the incoming supply water is 50 degrees. The maximum capacity of the unit in this example is the flow rate, at which a tankless water heater can elevate the water's temperature by 70°F. If this flow rate is adequate to supply the home's hot water demand at any given time, the tankless unit is the right size. By adding up all possible concurrent hot water consumption, the demand may be calculated.
The Saudi Arabian market would be simulated by favorable government regulations as well as customer propensity to use sustainable heating systems. Solar-powered heating systems are one of the green growth techniques that the GCC has adopted and is widely recognized for, which would increase the demand for the product. For instance, according to the United Nations Organization's Sustainable Development Goals, the UAE dedicated more than US$ 6 million to the region in 2016 to put strategic planning into practice. Product adoption will be positively impacted by significant economic changes brought on by a rise in the demand for high-tech solutions and the urban population. The Business Council states that by 2050, the UAE government wants to increase the share of renewable energy in its power mixes to 44%.
The Brazil market dominated the LAMEA Tankless Water Heater Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $183.7 million by 2028. The Argentina market is experiencing a CAGR of 9.3% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 8.4% during (2022 - 2028).
Based on Type, the market is segmented into Condensing and Non-Condensing. Based on Energy Source, the market is segmented into Electric and Gas. Based on Energy Factor, the market is segmented into 0.91 to 0.99 EF and 0.80 to 0.90 EF. Based on End User, the market is segmented into Commercial and Residential. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Tankless Water Heater Market is Predict to reach $9.4 Billion by 2028, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include A. O. Smith Corporation, Robert Bosch GmbH, Stiebel Eltron GmbH & Co. KG, Takagi Seiko Co., Ltd., Kyungdong Navien Co., Ltd., Noritz Corporation, Bradford White Corporation, EcoSmart Green Energy Products, Inc., Rinnai Corporation, and Rheem Manufacturing Company.
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