Global 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 | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Electric Space Heaters Market Analysis
Global Electric Space Heaters Market is expected to register at a CAGR of greater than 7% during the forecast period. The value of the electric heaters market globally had observed a significant increase over the years rising to over USD 10 Billion last year. Electric space heaters are used for small to medium-sized rooms mostly used for residential and office rooms purpose. With a continuous increase in urbanization globally office and residential spaces are rising creating an increasing market opportunity for Electric space heater manufacturers.
With the advent of Covid-19 wholesale prices of domestic electric appliances globally observed a significant increase rising to an index of 134 last year. This had an impact on the electric space heater market as well which observed an increase in price with a decline in demand during the period. Electric space heaters over the period had emerged with improved efficiency in converting energy to heat with Convection space and Infrared space heaters existing as leading products in the market.
Russia, Kazakhstan, Alaska, Slovakia, Georgia, Poland, Iceland, and Ukraine are among some of the regions globally observing a large decline in temperature and having a higher adoption rate of heaters. Over the last year, Russia imported electric heaters having a value of USD 2.1 Billion with a major share of heaters imported from China, Germany, Italy, Poland, and Belarus. In addition to this with a rise in per capita income globally people are adopting convenient and eco-friendly appliances for heating for which Electric space heaters exist as an efficient option.
Global Electric Space Heaters Market Trends
Growing Opportunities for Electric Space Heaters in the Global Real Estate Market
The global value of residential real estate has been steadily increasing and reached USD 0.49 quadrillion last year. Countries such as the United States, India, and Europe have a significant share of office space for global companies. This growth in office and residential space is creating more opportunities for the electric space heater market. Electric space heaters are becoming a popular solution for heating homes and offices due to their energy efficiency and portability.
Growing Expenditure on Essential Items in Emerging Nation
Total consumer spending globally had observed a sharp increase rising to the level of USD 56,966 Billion of this spending on smart home products and services increased to a level of USD 134 Billion last year. This consumption spending trend signifies an existing opportunistic market for sales of Electric Space Heaters market as with global climate change intensity of summers as well cold are increasing globally.
Standards and labeling in electric appliances are resulting in an energy reduction of Electric space heater appliances with more households adopting these equipments and shifting from traditional heating appliances. Post Covid developing countries such as India with a speedy economic recovery are observing increased sales of electronic appliances signalling a positive externality for Electric Space heaters.
Global Electric Space Heaters Industry Overview
Competition is increasing among the Electric space heater manufacturer for including new technical features in their products with wifi connectivity, programmable thermostat, and energy-saving modes. Firms are doing this to increase their market, consumer reach, and revenue by designing their products according to their use either in offices, homes, or other indoor spaces. Among the players operating in the Global Electric Space Heater market are Daison Group, Daikin Industries, Energy Wise Solution, Kerone, Havelles, and other players.
Global Electric Space Heaters Market Leaders
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Dyson Group Co
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Daikin Industries Ltd
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Energy Wise Solutions
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Kerone
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Havells
*Disclaimer: Major Players sorted in no particular order
Global Electric Space Heaters Market News
- In April 2023, Havells India entered into a commercial agreement with Swedish tech startup Blixt Tech AB to introduce Solid State Circuit Breaker (SSCB) technology in the domestic market. With this partnership, Havells aims to make a significant impact on the future of the Indian and global electrical industry.
- In February 2022, Watlow, a designer and manufacturer of complete industrial thermal systems, acquired Eurotherm from Schneider Electric Company. The acquisition aligns with Watlow's vision of providing innovative thermal products and technologies. Eurotherm is a premier provider of temperature, power, and process control, measurement and data management equipment, systems, software, and services for global industrial markets.
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 Rising Number of Family and Office Space
4.2.2 Increase in Expenditure on Home appliances
4.3 Market Restraints
4.3.1 Rise in price of electric equipments post covid
4.3.2 Increase in global trade restrictions with geopolitical tensions affecting supply chain
4.4 Market Opportunities
4.4.1 Rising Smart Features Equipped Electric Space heater driving the market
4.4.2 Adoption of Environment Friendly Appliances in Home
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 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Ceramic Heater
5.1.2 Oil Filled Heater
5.1.3 Infrared Heaters
5.1.4 Others
5.2 By Application
5.2.1 Family
5.2.2 Office
5.2.3 School
5.2.4 Others
5.3 By Region
5.3.1 North America
5.3.2 Latin America
5.3.3 Europe
5.3.4 Middle East and Africa
5.3.5 Asia Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Dyson Group Co
6.2.2 Daikin Industries Ltd
6.2.3 Energy Wise Solutions
6.2.4 Kerone
6.2.5 Havells
6.2.6 Sunrise products
6.2.7 HC Thermal
6.2.8 Sigma Thermal
6.2.9 Vacker
6.2.10 Reznor*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Global Electric Space Heaters Industry Segmentation
Electric Space heaters are devices used for increasing the ambient temperature in rooms, they are portable heating devices and can easily be moved to spaces where heating is most required providing a reliable source of additional heat, at an affordable price.
The Global Electric Space heaters market is segmented by Type (Ceramic Heater, Oil Filled Heater, Infrared Heater, Others), by Application (Family, Office, School, Others), By Region (North America, Latin America, Europe, Middle East & Africa, Asia Pacific). The report offers market size and values in (USD million) during the forecasted years for the above segments.
| By Type | |
| Ceramic Heater | |
| Oil Filled Heater | |
| Infrared Heaters | |
| Others |
| By Application | |
| Family | |
| Office | |
| School | |
| Others |
| By Region | |
| North America | |
| Latin America | |
| Europe | |
| Middle East and Africa | |
| Asia Pacific |
Frequently Asked Questions
What is the current Global Electric Space Heaters Market size?
The Global Electric Space Heaters Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Global Electric Space Heaters Market?
Dyson Group Co, Daikin Industries Ltd, Energy Wise Solutions, Kerone and Havells are the major companies operating in the Global Electric Space Heaters Market.
What years does this Global Electric Space Heaters Market cover?
The report covers the Global Electric Space Heaters Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Global Electric Space Heaters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Electric Space Heaters Industry Report
Statistics for the 2024 Global Electric Space Heaters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global 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.
