Connected Water Heater Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 5.6 Billion by 2030, growing at a CAGR of 13.5% from 2024 to 2030.
In the 2020-2022 period, connected water heaters were gaining momentum, especially in North America and Europe, where demand for smart home devices surged. These regions witnessed an increase in consumer awareness regarding energy savings, reducing carbon footprints, and improving overall home automation experiences. The integration of machine learning in water heaters to optimize energy usage further drove the growth. Manufacturers such as Bosch, Rheem, and A.O. Smith capitalized on these advancements, offering innovative products that appealed to tech-savvy homeowners.
The market outlook for 2023 to 2033 presents an exciting opportunity for further expansion. With the global push for sustainability and increasing adoption of smart homes, the demand for connected water heaters is expected to rise significantly. Emerging markets in Asia-Pacific, Latin America, and the Middle East are predicted to experience a surge in demand due to urbanization, rising disposable income, and increasing environmental concerns. Furthermore, government regulations favoring energy-efficient appliances and incentives for smart home devices will further boost market growth.
The market for connected water heaters will also benefit from advancements in artificial intelligence (AI) and machine learning, allowing these appliances to learn user behavior and optimize heating schedules automatically. This will lead to not only greater energy savings but also improved user satisfaction and convenience. As these devices become more affordable and accessible, consumer adoption rates are likely to increase, ensuring a robust growth trajectory in the coming years.
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The Connected Water Heater Market from 2018 to 2022 showed a steady growth trajectory, driven primarily by technological advancements and increasing demand for smart home appliances. The growing focus on energy efficiency and sustainable solutions significantly shaped the market. Over these years, many manufacturers have integrated IoT (Internet of Things) technology into water heaters, enabling users to monitor and control their heaters remotely via smartphones or other connected devices. This shift toward connected and intelligent devices not only enhanced consumer convenience but also contributed to reducing energy consumption.
A.O.Smith
Haier
Rinnai
Midea
BOSCH
ARISTON
Vanward
Sakura
Guangdong Macro Co.
Ltd
Sacon
Rheem Manufacturing
Siemens
Bajaj Electricals
Bradford White
Crompton Greaves
ELDOMINVEST
Ferroli
Hubbell
Noritz
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Connected Water Heater Market
Commercial
Household
Other
Based on Types the Market is categorized into Below types that held the largest Connected Water Heater market share In 2023.
Electric Water Heater
Gas Water Heater
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Connected Water Heater Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Connected Water Heater Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Connected Water Heater Market, By Type
6. Global Connected Water Heater Market, By Application
7. Global Connected Water Heater Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Connected Water Heater Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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