Market Trends of Global Electric Space Heaters Industry
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.
