New York, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Consegic Business Intelligence analyzes Greenhouse Heaters Market is expected to witness significant growth at a remarkable CAGR of 4.7% during the forecast period of 2023-2030. The factors such as the increasing development of new greenhouses, growth in the investment of new product innovations, and others are accelerating the demand for greenhouse heaters, which, in turn, is benefiting the market growth. In addition, the rising development of a new range of greenhouse heaters product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the greenhouse heaters market is poised for strong expansion and is expected to reach USD 2,158.91 Million by 2030. The market, which was valued at USD 1,503.10 Million in 2022, is predicted to grow at a compound annual growth rate of 4.7% during the period 2023-2030. The report highlights the increasing adoption of greenhouse heaters in small & medium greenhouses, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the greenhouse heaters market.
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Greenhouse heaters are an efficient heating solution for small and medium-sized greenhouses to extend the growing season. The development of new small and medium-sized greenhouses is attributed to factors such as government investments, international funding, and others. For illustration, in May 2023, the Rotary Club of Montserrat installed a 150 sq ft hydroponics greenhouse in Brades School, Montserrat. The installation of new medium-sized greenhouses will supplement agriculture learning among the students. As a result, the development of new medium-sized greenhouses is boosting the demand for greenhouse heaters to provide optimal temperatures for crop growth. This, in turn, is propelling the market growth.
Furthermore, prominent factors such as increasing self-reliance for crop production, the rapid pace of urbanization, and others are boosting the development of new greenhouses. Furthermore, Middle Eastern countries such as Saudi Arabia, United Arab Emirates, and others are shifting their focus on oil manufacturing. Thus, the expansion of greenhouses is increasing. Hence, the construction of new greenhouses will accelerate the demand for greenhouse heaters to ensure even heating for crops, which, in turn, will create a potential opportunity for market growth in the coming years.
Global Greenhouse Heaters Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 2,158.91 Million |
| CAGR (2023-2030) | 4.7% |
| By Type | Electric Heaters, Gas Heaters, and Paraffin Heaters |
| By Application | Small & Medium Greenhouse and Large Greenhouse |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Hotbox International, L.B. White, Nexus Corporation, WECO International, Southern Burner Company, Roberts Gordon, Rough Brothers, Inc., Siebring Manufacturing, Sri Sai Fibres Private Limited, and Teja Projects |
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Global Greenhouse Heaters Market Segmentation Details:
Based on Type, the electric heaters segment contributed the largest shares to the market growth in 2022. Greenhouse electric heaters have the benefit of being excellently reliable. The electric heaters have a fan to offer the superior benefit of providing healthy air circulation. This ensures a minimized risk of mold and fungus developing in plants. In addition, the airflow throughout the structure eradicated the cold spots. Hence, due to the above benefits, the adoption of electric heaters is increasing in greenhouses. This, in turn, is driving the segment growth.
Based on Application, the small & medium greenhouse segment accounted for the largest market share in the year 2022. Greenhouse heaters are frequently deployed in small & medium greenhouses to provide consistent heat with low emissions. In addition, the versatile heaters for the greenhouses efficiently boil water for plants that require warmer soil temperatures. The prominent factor such as increasing investment in the development of new small & medium greenhouses is fostering the demand for greenhouse heaters to ensure superior flexibility. Hence, the increasing adoption of greenhouse heaters in small & medium greenhouses is amplifying the market growth.
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Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, owing to the increasing development of new greenhouses. For instance, in March 2023, Shanghai's largest vegetable greenhouse became operational in China. FoodVentures, based in the Netherlands is supervising the cultivation of vegetables. The new greenhouse will cultivate cucumbers, tomatoes, herbs, and heads of lettuce. Henceforth, the development of new greenhouses in the Asia Pacific region will boost the revenue growth of the market in the upcoming years.
Competitive Landscape
Hotbox International, L.B. White, Nexus Corporation, and WECO International, are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of greenhouse heaters. Further, the greenhouse heaters market is expected to grow steadily due to rising demand from large-sized greenhouses, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing mergers between greenhouse heaters manufacturers is anticipated to increase the competition in the market.
Recent Developments
- In June 2020, WESCO International formed a merger with Anixter International Inc to increase product distribution in the global market. Therefore, the increase in the distribution of greenhouse heaters will accelerate market growth in the forecast years.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 36.50% and was valued at USD 548.63 million in 2022 and is expected to reach USD 792.32 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 21.75% during the base year of 2022.
- Based on type, the electric heaters segment accounted for the highest share contribution to the greenhouse heaters market statistics in 2022.
- In the context of application, the small & medium greenhouse segment is expected to contribute significant shares to the growth of greenhouse heaters market statistics during the forecast period.
- Europe is expected to boost the market demand for greenhouse heaters due to the increasing investments in new greenhouses in countries such as the United Kingdom, Germany, and others.
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List of Major Global Greenhouse Heaters Market:
- Hotbox International
- L.B. White
- Nexus Corporation
- WECO International
- Southern Burner Company
- Roberts Gordon
- Rough Brothers, Inc.
- Siebring Manufacturing
- Sri Sai Fibres Private Limited
- Teja Projects
Global Greenhouse Heaters Market Segmentation:
- By Type
- Electric Heaters
- Gas Heaters
- Paraffin Heaters
- By Application
- Small & Medium Greenhouse
- Large Greenhouse
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Frequently Asked Questions in the Greenhouse Heaters Market Report
- What was the market size of the greenhouse heaters industry in 2022?
- In 2022, the market size of greenhouse heaters was USD 1,503.10 million
- What will be the potential market valuation for the greenhouse heaters industry by 2030?
- In 2030, the market size of greenhouse heaters will be expected to reach USD 2,158.91 million.
- What are the key factors driving the growth of the greenhouse heaters market?
- Increasing deployment of greenhouse heaters in small and medium-sized greenhouses is spurring market growth.
- What is the dominating segment in the greenhouse heaters market by type?
- In 2022, the electric heaters segment accounted for the highest market share of 41.50% in the overall greenhouse heaters market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the greenhouse heaters market?
- Asia Pacific accounted for the highest market share in the overall greenhouse heaters market.
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