As of 2023, the re-import of instantaneous gas water heaters to Canada was established as the baseline. The data forecasts a steady increase, with the value expected to rise from 450.04 in 2024 to 559.66 by 2028. This represents year-on-year percentage increases of approximately 6.3%, 5.8%, 5.4%, and 5.0% from 2025 to 2028, respectively, and displays a consistent upward trajectory. The compound annual growth rate (CAGR) over the forecast period is anticipated to be around 5.6%.
Future trends to watch for include potential changes in energy efficiency standards, technological advancements in heater design, and fluctuations in consumer energy preferences which may impact the demand for instantaneous gas water heaters in Canada.
