Europe Electric Space Heaters Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Electric Space Heaters Market Analysis
The European electric space heater market has generated revenue of USD 1.45 Billion in the current year and is poised to achieve a CAGR of more than 4% for the forecast period.
- Germany, The Czech Republic, Norway, Iceland, and Switzerland are among the European countries with cold weather all year. This makes Electric space heaters an important appliance in the region.
- Post covid, household electricity prices in the European Union have risen steeply, leading electric space heater manufacturers to make their appliances energy efficient. In terms of distribution channels, Online sales of household appliances increased to a share of around 37% last year, leading to rising demand for electric space heaters through online channels.
- With the advent of COVID-19, European consumer spending on household upkeep observed an increase. The average winter temperature in Germany declined to 1.8 degrees celsius, creating a positive externality for the demand for Electric space heaters in homes. During Cold and wetter weather in Europe, COVID cases rose, resulting in an increase in hospitalization rate with a rise in electric space heater demand from hospitals.
- Post-COVID revenue of household appliances in Europe is observing a continuous increase with a constant price per unit of small appliances, making it affordable for households. The per capita income in the European Union rose and observed an increase as the economy recovered from the negative impact of COVID-19 with rising jobs and employment, increasing the purchasing power of people and creating a positive externality for the demand for electric space heaters.
Europe Electric Space Heaters Market Trends
Increase In Residential Space Rising Demand For Electric Space Heater
- Russian regions of Norway, Finland, and Iceland are among the countries existing as the coldest regions in Europe. The value of Residential real estate in Europe has observed a continuous increase over the years, creating market space for the sales of electric space heaters as well.
- In terms of Energy consumption of European Union (EU) Households, space heating segments occupy the largest share of 64.5%, with water heating and lightening existing next in line, highlighting the value and usage of Electric space heaters in the region.
- Residential buildings in the European region consume higher levels of energy in comparison to Public and Commercial buildings. With the energy crisis in Europe and the rise in electricity bills, demand for energy-efficient appliances to keep families warm increased last winter, leading to the expansion and opening of Europe's electric space heater market for global players, especially China, with a 70% increase in demand for electric heater import.
Rise of Smart Homes in Europe
- European people are moving towards the adoption of appliances equipped with smart and energy-efficient features, raising the need for the creation of energy-efficient electric space heaters by manufacturers. In Europe, as the revenue in the Smart home market is observing continuous growth, it is creating a positive externality for the sales of electric space heaters equipped with smart features.
- With smart features in electric heaters, users can change the temperature in an entire room with one press of a button. As the electric space heaters are equipped with Wi-Fi, the device can be easily controlled via a mobile app. This allows users to set schedules, adjust the temperature, and monitor energy consumption in real-time.
- With these technological innovations in the market, Italy, Hungary, and Denmark are emerging as European countries with the largest number of population switching to energy-saving programs, raising demand for smart energy-efficient heaters in the region.
Europe Electric Space Heaters Industry Overview
The European electric space heater market is fragmented, and the region being affected by a cold climate each year is attracting global electric space heater manufacturers in the region. The rising use of electric heaters is raising electricity prices in the region, causing demand for energy-efficient electric space heaters, which need to be supplied by global players. These trends led to market opportunities for new players with efficient, innovative, and low-cost products. The major players in the market are Inelco, Tansun, LG Electronics, Stiebel Eltron and Havells.
Europe Electric Space Heaters Market Leaders
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Inelco
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Tansun
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LG Electronics
-
Stiebel Eltron
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Havells
*Disclaimer: Major Players sorted in no particular order
Europe Electric Space Heaters Market News
- May 2022: Roxell, a Belgian company, extended its convection heater offerings for poultry houses by introducing the Siroc Sterling Space heater. This closed-combustion Siroc space heater is designed to enhance vertical air circulation in taller poultry houses.
- August 2023: Modine, a leading player in innovative heating solutions within the HVAC industry, unveiled its latest product line, the "MEL Series." This new electric infrared range is a high-wattage, commercial-grade, high-intensity electric infrared heater featuring power outputs ranging from 750 to 11,400 watts.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Continuous Cold weather in major cities of Europe driving demand
4.2.2 Increase in purchasing power of people with economic recovery post covid
4.3 Market Restraints
4.3.1 Increase in Price of Electrical Appliances affecting demand
4.3.2 Supply chain disruption in Heating appliance affecting the market
4.4 Market Opportunities
4.4.1 Creation of energy efficient products of as per residential and commercial specific needs
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Technological Innovations in Europe Electric Space Heater Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Types
5.1.1 Convection Heater
5.1.2 Radiant Heater
5.1.3 Other Types
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution
5.3.1 Online
5.3.2 Offline
5.4 By Country
5.4.1 Germany
5.4.2 United Kingdom
5.4.3 Poland
5.4.4 France
5.4.5 Italy
5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Inelco
6.2.2 Tansun
6.2.3 LG Electronics
6.2.4 Stiebel Eltron
6.2.5 Havells
6.2.6 Ecaros
6.2.7 Elvhis
6.2.8 Opranic
6.2.9 Redwell
6.2.10 DBK Industrial*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Electric Space Heaters Industry Segmentation
An electric space heater is a heating device designed to focus heat in a single room or small zone. Electric space heaters fall into the main categories of convection heaters, radiant and infrared heaters, and others, which work by making air hot, which naturally rises and forces colder air to the floor. This process helps to circulate the heat and warm the space effectively.
Europe's electric space heaters market is segmented by types ((convection heaters, radiant and infrared heaters, and other types)), by applications (residential, commercial), by distribution (online and offline), and by country (Germany, United Kingdom, Poland, France, Italy, and Rest of Europe).
The report offers market size and forecasts in value (USD) for all the above segments.
| By Types | |
| Convection Heater | |
| Radiant Heater | |
| Other Types |
| By Application | |
| Residential | |
| Commercial |
| By Distribution | |
| Online | |
| Offline |
| By Country | |
| Germany | |
| United Kingdom | |
| Poland | |
| France | |
| Italy | |
| Rest of Europe |
Frequently Asked Questions
What is the current Europe Electric Space Heaters Market size?
The Europe Electric Space Heaters Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Europe Electric Space Heaters Market?
Inelco, Tansun, LG Electronics, Stiebel Eltron and Havells are the major companies operating in the Europe Electric Space Heaters Market.
What years does this Europe Electric Space Heaters Market cover?
The report covers the Europe Electric Space Heaters Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Electric Space Heaters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Electric Space Heaters Industry Report
Statistics for the 2024 Europe Electric Space Heaters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Electric Space Heaters analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
