Global Space Heaters Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

Space Heaters Market Overview:

“The Space Heaters Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.

Have you ever found yourself freezing in the winter? If so, you might be interested in purchasing a space heater.

Space heaters are small electric appliances that provide warmth and can be plugged into any outlet. They work by converting electricity into heat. They are also very inexpensive to run since they use so little energy. Space Heaters are devices that are used to provide supplemental heating.

They are typically designed to provide warmth in rooms, rather than whole spaces. This is accomplished by directing heat onto a single person or object within the space.

The most common type of space heater is the electric-powered portable device.

This design is popular due to its convenience and ability to be placed anywhere within a room. They can be regulated according to the desired temperature and often include a thermostat control. It's used in both indoor and outdoor settings.

This doesn’t mean, however, that it is safe to forget about them while warming up your home. Space heaters are a long-time staple in homes and businesses across the world.

Homeowners and renters use them to warm up their living spaces on cold days and save money on heating bills.

Business owners use space heaters to keep employees from wearing too many layers in the colder months.

In schools, teachers often use space heaters in rooms that lack heating or in areas where students congregate, such as cafeterias or hallways.

The Space Heaters Market is segregated into Product Types and Applications. On the basis of product type, the global space heaters market is sub-segmented into Fan heaters, Convection heaters Radiant heaters, and Ceramic heaters.

With respect to applications, the global space heaters market is distributed into commercial, industrial and residential.

On the basis of region, the global space heater market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Space Heaters Market: Revenues Continuing to Grew…!

The global space heater market is anticipated to grow at the rate of 4.5% during the forecast period from 2017 to 2025, as per a study by Transparency Market Research.

This growth is mainly attributed to the increasing demand for heaters in developing economies such as China and India, which are experiencing a rapid urbanization process.

A global warming trend has forced consumers to find new ways to keep themselves warm in the winter months.

However, it is difficult to heat a large space with just a conventional heating system. For this reason, space heaters have become popular in recent years because they are cheaper and easier to use than a traditional furnace.

The global space heaters market exceeded US$9 billion in revenue last year. The global space heater market is predicted to grow exponentially in the next decade.

This can be attributed to the increase in global temperature, population growth, and increased demand for affordable heating solutions.

According to a reported increase in demand for electric space heaters, like the traditional fan style or convection/radiant type of heater will be due to the price of oil and gas increasing over the years which makes it more expensive to heat homes.

The report also predicts that this increase in demand will continue.

Common challenges to be faced with Space heaters

Space heaters are generally reliable appliances. However, they may experience particular problems. Heater unit not working: Often, a space heater will not turn on based upon the manner in which the switch is being used.

Malfunctioning fan, check the wiring to make sure it is linked to the motor. If it is not, the fan will not function. Another frequent problem with space heaters is insufficient warmth. When the heater appears fine, check its thermostat settings.

If thermostat settings are correct, then it's probably a problem with the heater's parts. Maintaining a space heater is crucial.

How frequently you need to clean it depends on how well you take care of your heater. You should gently give attention to the surface areas of your heater for dust build-up.

Space heater and its developments for the better future:

The rise of global warming and climate change has caused an increase in natural disasters and power outages which has resulted in global electrification and fuel price hikes.

These events have led to an increase in people relying on not only electric-based heating but also gas and oil-fired heaters for their homes.

Observing the market potential for global space heaters, we can see that Asia and North America are the two most important regions in the world. Asia is one of Asia's fastest-growing markets and it has a total population of 4 billion people.

North America is the world's largest consumer of energy per capita; with a population of 325 million people, they consume one-quarter of all global energy consumption.

COVID-19 Impact

The COVID-19 pandemic has created unprecedented opportunities in business. However, the advent of this pandemic has created countless opportunities for businesses in every industry.

Many businesses are going through the phase of renewal and recovery from this COVID-19 pandemic, building business resilience and enabling organizations to spread their stake into the Next Normal during COVID-19 will aid an organization's journey out of the crisis.

In the aftermath of the COVID-19 pandemic, we are experiencing the effects of changes in complex systems that interrelate more than we recognize.

The socioeconomic considerations that impeded the population's movement are now arising, constraining the mobility of a significant number of citizens while causing them to adopt a digital-moving way of life and confine themselves to their homes.

It is believed that digitization and enhancement of time spent at home will result in an increase in the use of electronic and electronic goods due to the COVID-19 pandemic.

Report Scope:

1. Forecast Period: 2022-2031
2. Actual Year: 2021
3. Historical Data Available for: 2015-2020

The Key Players in the Space Heaters Market:

1. Honeywell International
2. De'Longhi Appliances
3. Jarden Consumer Solutions
4. Lasko Products
5. Vornado Air
6. Dyson
7. Crane-USA
8. Sunheat International
9. Sunpentown International
10. Optimus Enterprise

Segmentation by:

Product Type:

Fan heaters

Convection heaters

Radiant heaters

Ceramic heaters

Applications:

Commercial

Industrial

Residential

Regions:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa