Water heater installation has become a necessity of every household in and around Chicago. According to a report published by Persistence Market Research in December 2015, the global water heater devices market, which was valued at $37.8 billion in 2014, is expected to expand at a CAGR of 4.9% through 2021. This growth will be fuelled by the development of efficient and innovative water heaters that will increase competitiveness in the market.
The report went on to say that amongst all types of water heaters, the tankless heater segment is expected to expand at the highest CAGR of 6.0% in terms of value. This value will be 1.2 times the total expected water heater market revenue during the forecast period.
According to the experts at Mikes Chicago Plumbing, one of the best 24 hour plumber services in Chicago, remodeling of bathrooms is a major factor driving the sales of water heaters in the region. While purchasing water heaters, people are taking into consideration its stylish appearance, such that it matches the aesthetics of their bathroom.
Tankless Water Heaters
An efficient water heating system has always been a necessity in the US due to the unpredictable and changing weather conditions. However, when it comes to opting for water heaters for residential purposes, most homeowners desire a product that does not occupy much space and looks modern. Comfortable, sophisticated, easy to use, and most importantly, energy-efficient tankless water heaters, also known as demand-type or instantaneous water heaters, are becoming their prime choice for all these reasons.
But what makes tankless water heaters different from other kinds of water heaters? Unlike the traditional water heater, which uses a storage tank that needs to be filled up with sufficient water to be effective, tankless water heaters heat water directly, without the use of a storage tank. When you turn on the tap, cold water travels through a pipe into the water heater unit, where it is heated by a gas burner or an electric element. The process ensures that the user gets a constant supply of hot water with much lower wait time. However, the user does need to compromise on the water’s flow rate, which is often limited in a tankless water heater, says an emergency plumber in Chicago.
Major Benefit: Helps you Save on Utility Bills
Americans have always taken the top position when it comes to energy consumption, which is only increasing their monthly utility bills. Moreover, due to higher natural gas prices, the total utility-scale electricity generation from natural gas in the US is expected to fall from an average of 34% in 2016 to about 31% in 2017, which will only increase electricity prices, according to data published by the US Energy Information Administration.
An average household uses 41 gallons or less of hot water daily. For this, demand water heaters can be 24%-34% more energy efficient than conventional storage tank water heaters, according to Energy.gov.
The reason that makes tankless water heaters so much more energy efficient is that they don’t produce the standby energy losses associated with storage water heaters, which reduces energy consumption and helps you save on utility bills.
Tankless water heaters typically last longer than conventional storage water heaters too. In case you face any problems, there are excellent emergency plumbers in Chicago who can take care of it immediately.