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Global Electric Space Heaters Market Size (2024 - 2029)

The global electric space heaters market is experiencing growth driven by increasing urbanization and the rising demand for heating solutions in residential and office spaces. Despite challenges such as price increases and temporary declines in demand due to the Covid-19 pandemic, the market has shown resilience, with advancements in energy efficiency and product offerings like convection and infrared heaters. Regions with colder climates are seeing higher adoption rates, further contributing to the market's expansion. Additionally, the growing preference for convenient and eco-friendly heating appliances is boosting the market's potential.

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Market Size of Global Electric Space Heaters Industry

Global Electric Space Heaters Market Summary
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

Global Electric Space Heaters Market 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 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
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Global Electric Space Heaters Market Size Summary

The global electric space heaters market is poised for significant growth, driven by increasing urbanization and the rising demand for efficient heating solutions in residential and office spaces. As urban areas expand, the need for effective heating solutions in small to medium-sized rooms becomes more pronounced, creating lucrative opportunities for manufacturers. The market has seen a shift towards more energy-efficient products, such as convection and infrared space heaters, which are gaining popularity due to their ability to convert energy to heat more effectively. The impact of global events, such as the Covid-19 pandemic, has influenced pricing and demand dynamics, but the market continues to evolve with advancements in technology and consumer preferences for eco-friendly and convenient heating options.

Regions with colder climates, such as Russia and parts of Europe, have a higher adoption rate of electric space heaters, further bolstering market growth. The increasing value of residential real estate and the expansion of office spaces in countries like the United States, India, and Europe contribute to the demand for these heating solutions. Consumer spending on smart home products is on the rise, indicating a growing market for electric space heaters as part of modern living solutions. The market is characterized by intense competition, with manufacturers introducing innovative features like Wi-Fi connectivity and energy-saving modes to attract consumers. Strategic partnerships and acquisitions, such as Havells India's collaboration with Blixt Tech AB and Watlow's acquisition of Eurotherm, highlight the industry's focus on technological advancements and market expansion.

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Global Electric Space Heaters Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Number of Family and Office Space

      2. 1.2.2 Increase in Expenditure on Home appliances

    3. 1.3 Market Restraints

      1. 1.3.1 Rise in price of electric equipments post covid

      2. 1.3.2 Increase in global trade restrictions with geopolitical tensions affecting supply chain

    4. 1.4 Market Opportunities

      1. 1.4.1 Rising Smart Features Equipped Electric Space heater driving the market

      2. 1.4.2 Adoption of Environment Friendly Appliances in Home

    5. 1.5 Industry Attractiveness - Porters' Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Ceramic Heater

      2. 2.1.2 Oil Filled Heater

      3. 2.1.3 Infrared Heaters

      4. 2.1.4 Others

    2. 2.2 By Application

      1. 2.2.1 Family

      2. 2.2.2 Office

      3. 2.2.3 School

      4. 2.2.4 Others

    3. 2.3 By Region

      1. 2.3.1 North America

      2. 2.3.2 Latin America

      3. 2.3.3 Europe

      4. 2.3.4 Middle East and Africa

      5. 2.3.5 Asia Pacific

Global Electric Space Heaters Market Size FAQs

The Global Electric Space Heaters Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)

Dyson Group Co, Daikin Industries Ltd, Energy Wise Solutions, Kerone and Havells are the major companies operating in the Global Electric Space Heaters Market.

Global Electric Space Heaters Market Report Snapshots

Global Electric Space Heaters Market Size And Share Analysis-Growth, Trends And Forecast (2024-2029)