Press release
Major Market Shift in Portable Electric Heaters Industry: Advances In Automated Temperature Management
Portable Electric Heaters Market Growth
The market size for portable electric heaters has experienced robust growth in the past few years. It is anticipated to rise from $10.3 billion in 2024 to $10.99 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. This growth over the historical period can be credited to factors such as amplified consciousness about energy efficiency, escalating urbanization, growing energy expenses, heightened safety awareness, and an increasing number of portable electric heaters.
The market for portable electric heaters is predicted to witness substantial growth in the coming years, reaching a value of $14.07 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. This expected growth during the forecast period can be credited to the increasing disposable income, the growing demand for versatile heating solutions, amplified concerns around greenhouse gas emissions, expansion in residential and commercial construction sectors, and a heightened consumer inclination towards smart and interconnected heating appliances. The forecast period will also see major trends including technological progression, product inventiveness, inclusion of smart technologies, assortment of heating technologies, and the addition of features like remote control.
What Is Contributing to the Growth of the Portable Electric Heaters Market?
The rise in consciousness about energy efficiency is anticipated to boost the portable electric heaters market's development. Energy efficiency is the ability of a system or device to execute its designed function with the least energy wastage, reducing waste and expenses effectively. The growing consciousness of energy efficiency can be attributed to environmental benefits, financial savings, and alignment with sustainability objectives. Portable electric heaters can be an effective means to energy efficiency when strategically used to heat specific areas or rooms, significantly lessening energy usage compared to warming a whole house or office. For example, in December 2022, global investments in energy efficiency, which include building renovations, public transit, and electric vehicle infrastructure, reached a sum of USD 560 billion in 2022, as reported by the International Energy Agency (IEA), a France-based organization. This value marked an increase of 16% in comparison to the previous year, 2021. Initial indications in 2022 point to improvements in global energy efficiency by 2%, representing a rate roughly four times quicker than the last two years and nearly twice the rate of the past five years. As a result, the expanding consciousness about energy efficiency is spurring the growth of the portable electric heaters market.
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Which Businesses Are at the Forefront of Portable Electric Heaters Market Development?
Major companies operating in the portable electric heaters market are Honeywell International Inc., De Longhi Appliances Srl, Crane Holdings Co., Lasko Products LLC, Dimplex North America Ltd., Dyson Corp., Vornado Air LLC, Duraflame Inc., Cadet Manufacturing Co., Rowenta, NewAir, Insignia Pty Ltd., GHP Group Inc., The Holmes Group Inc., Soleus Air, Sunpentown International Inc., Lifesmart Inc., Pelonis Technologies Inc., Comfort Glow Heating, Pro Breeze Ltd., SPT Corp., Bionaire Inc., Comfort Zone, Stadler Form, TaoTronics
What Are the Latest Innovations in the Portable Electric Heaters Market?
Leading corporations in the portable electric heater market are introducing novel products like smart space heaters, providing efficacious and automated heating options. Smart space heaters are technologically advanced heating units that utilize technology for effective and automated control of temperature. For instance, Govee Life Technology Limited, a manufacturing enterprise based in China, unveiled a smart space heater in November 2023, which is specialized for boosting comfort and convenience in heating applications. Positive temperature coefficient (PTC) technology is harnessed to heat spaces quickly with these heaters, achieving temperatures as high as 77°F in merely 2 seconds. The implementation of smart control lets users operate the heaters remotely using the Govee app or through voice commands via Alexa and Google Assistant, thus eradicating the requirement for conventional physical controls.
How Is the Portable Electric Heaters Market Segmented?
The portable electric heaters market covered in this report is segmented -
1) By Type: Convector Heaters, Oil-Filled Heaters, Halogen Heaters, Other Types
2) By Distribution Channel: Direct Sales, Indirect Sales
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Convector Heaters: Wall-Mounted Convector Heaters, Free-Standing Convector Heaters, Slimline Convector Heaters
2) By Oil-Filled Heaters: Column Oil Heaters, Panel Oil Heaters, Smart Oil-Filled Heaters
3) By Halogen Heaters: Compact Halogen Heaters, Oscillating Halogen Heaters, Multi-Tube Halogen Heaters
4) By Other Types: Ceramic Heaters, Infrared Heaters, Fan-Forced Heaters, Micathermic Heaters
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Where Is the Portable Electric Heaters Market Growth Most Prominent?
North America was the largest region in the portable electric heaters market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the portable electric heaters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Portable Electric Heaters Global Market Report?
- Market Size Analysis: Analyze the Portable Electric Heaters Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Portable Electric Heaters Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Portable Electric Heaters Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Portable Electric Heaters Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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