The forecasted import volumes of instantaneous water heaters (excluding gas) to the US suggest a steady increase from 2024 to 2028, starting at 84.73 million kilograms in 2024 and reaching 92.685 million kilograms by 2028. Compared to 2023, where the total imports stood at approximately 82.7 million kilograms, the projected imports denote a consistent annual growth rate.

The year-on-year increase from 2024 up to 2028 demonstrates a growth of around 2-3% each year. Over a five-year period, this results in a compound annual growth rate (CAGR) reflecting sustained growth in demand for non-gas instantaneous water heaters in the US market.

Future trends to watch for include:

Advancements in technology that could make electric water heaters more efficient and environmentally friendly.
Potential policy changes aimed at promoting energy efficiency and reducing carbon footprints, which could further drive demand.
Shifts in consumer preferences towards more sustainable products.