Pune, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Electric Wall Heater Market Size & Growth Analysis:
“According to SNS Insider Research, The Electric Wall Heater Market size was valued at US$ 3.88 billion in 2023 and is projected to reach US$ 6.05 billion by 2032, growing at a CAGR of 5.06% over the forecast period 2024-2032.”
Growing Demand for Electric Wall Heaters Driven by Smart Technologies and Urbanization
The electric wall heater market is expected to rise due to the increasing application of heating solution in residential, commercial, and industrial purposes. The electric wall heaters can be deployed for localized heating and do not consume any floor space. They are usually used in garages, smaller rooms, and office. The growing market of smart homes and the increasing application of green and energy efficient product usage further accelerate the growth of the market. Now, the consumers are switching from fuel-based heaters to electric wall heaters owing to their cost-effective and environmentally friendly usage. The growth of electric wall heaters in the market of construction activities, urbanization, and technological advancements are growing at a significant rate. The integration of programmable thermostats and Wi-Fi allows heater control from a remote place and also enables optimized energy use. North America especially the U.S. is the major shareholder of the market as the climate of the region requires the usage of heating products for longer periods. Replacing of older heating products in the residential application also induces growth in the region. The trend of using compact and good-looking designer product for interior purposes is growing in the market. Many electronic devices are now coming with app-based control and energy efficiency monitoring, attracting many tech-savvy customers. Also, there is an increasing demand for low noise and quick heating models in offices and residential applications.
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Major Players Analysis Listed in this Report are:
- Marley Engineered Products- (Electro-Motive series)
- Stiebel Eltron Inc. - (CK 15 E, CK 25 E)
- Markel Products Company - (Electric Wall Heater Model 01893)
- Trane - (Trane Electric Wall Heater)
- Broan, Inc. - (Broan 198 Wall Heater)
- WarmlyYours.com, Inc.,. - (TempZone™ Electric Radiant Wall Heater)
- King Electric - (W Series Wall Heater)
- Indeeco - (Indeeco Electric Wall Heater)
- Glen Dimplex Group,- (Dimplex Panel Heater)
- Radiant System - (Radiant Wall Heater)
- Cadet Manufacturing Company - (Cadet Com-Pak Plus)
- Dimplex North America Limited - (Dimplex Touch Screen Heater)
- Fahrenheat - (Fahrenheat FUH Electric Wall Heater)
- QMark Heating Products - (QMark Electric Wall Heater)
- Honeywell International Inc. - (Honeywell Electric Wall Heater)
- DeLonghi America, Inc. - (DeLonghi Slim Style Convection Heater)
- Econo-Heat, Inc. - (Econo-Heat Panel Heater)
- Rinnai Corporation - (Rinnai Electric Wall Heater)
- Convectair NMT, Inc. - (Convectair Wall Heater)
- NewAir - (NewAir Electric Wall Heater)
- Others Players
Electric Wall Heater Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 3.88 Billion |
| Market Size by 2032 | US$ 6.05 Billion |
| CAGR | CAGR of 5.06% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Growth Drivers | • Technological advancements, including smart features like Wi-Fi connectivity and programmable thermostats, attract consumers by enhancing convenience and control in electric wall heaters. |
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Segmentation Analysis: Residential Segment Leads Market with 65.02% Share in 2023, Driven by Convenience of Electric Wall Heaters
By Application: In 2023, the residential segment has registered over 65.02% of the market share. This is due to ease of installation, heating efficiency in targeted areas, and convenience of electric wall heaters application in households.
By Power: In 2023, the 1000 to 1600-Watt segment has been accounting for over 36.08% due to the high demand for energy-efficient high-capacity heaters suitable for households and non-residential purposes. The increase in demand for this segment is expected across the forecast period.
Electric Wall Heater Market Key Segmentation:
By Application
- Residential
- Non-Residential
By Power
- <1000 Watt
- 1000 to 1600 Watt
- 1600 to 2000 Watt
- >2000 Watt
Regional Analysis: North America Leads Electric Wall Heater Market with 32.12% Share in 2023
North America: North America dominated the Electric Wall Heater Market with over 32.12% share in 2023. This region's market is characterized by rising urbanization, a surge in demand for comfort and convenience in homes, and a rapidly changing lifestyle.
Asia-Pacific: The Asia-Pacific region is expected to grow at the fastest CAGR from 2024 to 2032. The rapid adoption of smart home technologies and the trend towards home automation drive this growth. China’s Electric Wall Heater Market holds the largest market share, while India is the fastest-growing market in the region.
Recent Developments
In February 2024: industry veteran Marley Engineered Products announced a new line of eco-friendly heaters boasting recycled steel bodies and improved insulation for minimized heat loss.
In March 2024: Stiebel Eltron, a German powerhouse, unveiled its latest model, focusing on smart home integration with voice-controlled temperature adjustments and Wi-Fi connectivity.
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Key Takeaways
- It covers recent developments, market sizing, and segmentation, offering a clear assessment of the Electric Wall Heater Market. This includes data on market share, growth projections, and revenue trends.
- The report identifies significant technological advancements and emerging trends in electric wall heater technology, which are crucial for gaining a competitive edge in the market.
- It explores the impact of rising urbanization in North America and the rapid adoption of smart home technologies in Asia-Pacific. Insights into China’s dominant market share and India’s rapid growth are provided to inform strategic planning.
- The report assesses investment trends in the electric wall heater sector and the impact of market trends on investment strategies, helping stakeholders make informed decisions.
- The report offers an analysis of major players in the Electric Wall Heater Market, detailing their market strategies, recent product innovations, and competitive positioning to aid in identifying key market competitors.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Manufacturing Output, by region, (2020-2023)
5.2 Utilization Rates, by region, (2020-2023)
5.3 Maintenance and Downtime Metrix
5.4 Technological Adoption Rates, by region
5.5 Export/Import Data, by region (2023)
6. Competitive Landscape
7. Electric Wall Heater Market Segmentation, By Application
8. Electric Wall Heater Market Segmentation, By Power
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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