The demand for tankless water heaters is increasing as the plumbing industry and federal and state governments strive toward energy efficiency. According to a report form Grandview Research, 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.

“There has been a growth of understanding and acceptance by the trades about tankless,” notes David Hoskyn, Navien product management director. “Even with all the information available now to the public, the contractor’s recommendation typically results in the end user’s choice of product. A better understanding of any product’s features, benefits and also limitations make the contractor more willing to promote a product, and tankless has benefitted due to that.”