The demand for tankless water heaters is increasing as the HVACR industry and homeowners alike strive toward energy efficiency. According to ReportLinker, the tankless water heater market is projected to reach USD 6.8 billion by 2030, with a compound annual growth rate (CAGR) of 8.7% during the next seven years.
However, in today’s era of supply chain issues, demand isn’t necessarily met with supply, and manufacturers of tankless water heaters have to continue to work under abnormal conditions.