What Is The Definition Of The Global Portable Electric Heaters Market?
Portable electric heaters are compact, electrically powered devices designed to heat small to medium-sized spaces. They come in various types and models, offering different heating mechanisms and features. They are typically designed to be easily carried or moved from one location to another, making them convenient for providing localized heating in various settings.
Portable Electric Heaters Global Market Report 2024 provides data on the global portable electric heaters market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The portable electric heaters market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Portable Electric Heaters Market Projected?
The portable electric heaters market has experienced solid growth, expanding from $9.69 billion in 2023 to $10.3 billion in 2024, with a CAGR of 6.3%. Historical growth factors include heightened awareness of energy efficiency, urbanization, rising energy costs, safety concerns, and increased product availability. The market is forecasted to grow to $13.23 billion by 2028 at a CAGR of 6.5%. Key drivers of future growth include rising disposable incomes, demand for flexible heating solutions, environmental concerns, and growing construction activities. Trends include smart and connected technologies, remote control features, and advancements in product development and heating diversification.
What Are The Primary Growth Drivers In The Portable Electric Heaters Market?
Awareness of energy efficiency is expected to propel the growth of the portable electric heaters market. As consumers and businesses seek ways to reduce energy consumption, portable electric heaters offer an efficient solution for localized heating. Reports from the International Energy Agency show that global investments in energy efficiency are on the rise, reflecting increased focus on energy-saving technologies and products like electric heaters.
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What Is The Segmentation Of The Global Portable Electric Heaters Market?
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
What Emerging Trends Are Shaping The Portable Electric Heaters Market Landscape?
In the portable electric heater market, companies are working to create more energy-efficient models that incorporate advanced technology such as smart temperature control, improved insulation, and energy-saving heating elements. Airtècnics, a company from Spain, launched an industrial heater model in June 2021 designed to heat large spaces quickly, making it ideal for temporary use, such as in construction sites. The model also emphasizes energy efficiency with an Ecofit EC fan for optimal heat distribution.
What Is The Fastest Growing Region In The Portable Electric Heaters Market?
North America was the largest region in the portable electric heaters market in 2023. 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.
