HS Code:
Instantaneous water heaters, classified under HS Code 8516.10, are electric or gas-powered devices designed to heat water on demand without the need for a storage tank. These products are widely used in residential, commercial, and industrial settings for their energy efficiency and space-saving benefits. They cater to a growing demand for sustainable and cost-effective water heating solutions globally.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for energy-efficient appliances
Increased adoption of instantaneous water heaters due to lower energy consumption compared to traditional storage heaters, driving market growth by 8% annually.
2021-2023
Shift towards smart home integration
Manufacturers are incorporating IoT features into instantaneous water heaters, boosting demand in developed markets by 5% year-over-year.
2022-2023
Urbanization in emerging economies
Rapid urban growth in Asia-Pacific and Africa has led to higher demand for compact water heating solutions, contributing to a 10% rise in exports to these regions.
2020-2023
The European Union introduced stricter energy efficiency standards for water heaters, mandating higher performance metrics for instantaneous models starting in 2023.
January 2023
Manufacturers face increased compliance costs, but this is expected to boost long-term demand for innovative, energy-efficient products.
A revised trade agreement reduced tariffs on instantaneous water heaters exported from China to the US from 25% to 15%, easing supply chain constraints.
March 2023
This has led to a 7% increase in Chinese exports to the US market, benefiting American consumers with lower prices.
Leading manufacturers in Japan and Germany unveiled new models with AI-driven temperature control and reduced energy consumption at the 2023 Consumer Electronics Show.
January 2023
This innovation is projected to increase market share for premium instantaneous water heaters by 4% in high-income countries.