Press release
Portable Electric Heaters Market Expansion Continues, with Forecast Valuation of $14.07 Billion by 2029
Portable Electric Heaters Market
Portable Electric Heaters Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for portable electric heaters has seen substantial growth in the past few years. The expansion is set to continue, with the size forecasted to rise from $10.3 billion in 2024 to $10.99 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this upward trajectory during the previous period include a growing understanding of energy efficiency, increased urbanization, inflated energy expenses, heightened safety awareness, and a rising number of portable electric heaters.
Portable Electric Heaters Market Size Forecast: What's the Projected Valuation by 2029?
The market for portable electric heaters is projected to experience robust expansion in the upcoming years. The market value is predicted to reach $14.07 billion in 2029, with a compound annual growth rate (CAGR) of 6.4%. The predicted progression during this forecast period can be tied to factors such as the increased disposable income, the demand growth for adjustable heating solutions, heightened awareness about greenhouse gas emissions, expansion in both residential and commercial construction ventures, and an elevated consumer preference for intelligent, interconnected heating devices. Key trends predicted for this period encompass technological progression, product innovation, smart technology integration, broadening of heating technologies, and the incorporation of features like remote control.
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What Are the Drivers Transforming the Portable Electric Heaters Market?
The escalating consciousness regarding energy conservation is predicted to act as a catalyst for the expansion of the portable electric heaters market in the future. The term energy efficiency is used to describe the effectiveness of a system or device in performing its designated function while minimizing power usage, substantially decreasing waste and expenses. The growing consciousness around energy conservation is a result of multiple contributory factors such as environmental advantages, financial gains, and consistency with sustainability objectives. Using portable electric heaters purposefully for warming certain zones or rooms can be necessary for energy conservation, as it reduces total power usage compared to heating an entire building or workspace. For instance, as per the International Energy Agency (IEA), a France-based entity, in December 2022, worldwide investments in energy conservation, encompassing building refurbishments, public transportation, and electric car infrastructure, amounted to USD 560 billion in 2022, witnessing a hike of 16% compared to 2021. The preliminary reports from 2022 propose that global energy efficiency enhanced by 2%, nearly quadruple the pace of the preceding two years, and almost twice that in the last five years. Thus, the surging consciousness about energy conservation is steering the expansion of the portable electric heaters market.
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What Long-Term Trends Will Define the Future of the Portable Electric Heaters Market?
Leading companies active in the portable electric heater industry are creating avant-garde products such as intelligent space heaters for the provision of competent, automated heating mechanisms. Advanced heating devices, called smart space heaters, utilize technological innovations to manage temperature in an efficient and automatic way. For instance, Govee Life Technology Limited, a company based in China, introduced a smart space heater in November 2023 dedicated to enhancing the user's comfort and convenience in heating. These heaters are equipped with Positive temperature coefficient (PTC) technology that enables rapid heating of spaces, achieving 77°F in no more than 2 seconds. With the inclusion of smart control technology, users can control the heaters remotely through the Govee app or by using voice commands via Alexa and Google Assistant, thereby eliminating the need for conventional physical controls.
Which Segments in the Portable Electric Heaters Market Offer the Most Profit Potential?
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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Which Firms Dominate the Portable Electric Heaters Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Portable Electric Heaters Market?
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.
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