They're mostly cheap electric steel throwaways that have to be replaced every 5 - 8 years here. Some come with a sacrificial anode that gives the tank a longer life. There are pros and cons.
A few of the pros:
They're cheaper to buy.
The electric heating elements do get crusty with mineral buildup over time thus reducing efficiency.
It's not at all uncommon to get a lot of sediment buildup in the bottom of a tank to the point where it's covering the lower element. It wouldn't be cost effective to pay a plumber to try and clean out the tank.
Most tanks are set up with unions. A good plumber can swap in a new unit in about 30 minutes.
Cons:
It's slim pickings for the scrapper.
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