What Has Been The Evolution of the Portable Electric Heaters Market in Recent Years?
The portable electric heaters market has seen considerable growth due to a variety of factors.
• The portable electric heaters market has experienced strong growth in recent years. It will grow from $10.3 billion in 2024 to $10.99 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.7%.
The growth is attributed to increasing awareness of energy efficiency, rising urbanization, higher energy costs, improved safety awareness, and the growing use of portable electric heaters.
What Are the Future Growth Projections for the Portable Electric Heaters Market?
The portable electric heaters market is expected to maintain its strong growth trajectory in upcoming years.
• The portable electric heaters market is projected to reach $14.07 billion by 2029, growing at a CAGR of 6.4%.
This growth is driven by factors like increasing disposable income, a higher demand for versatile heating solutions, environmental concerns, rising residential and commercial construction activities, and a shift towards smart and connected heating devices. Key trends include advancements in technology, new product development, the integration of smart features, and diversified heating technologies with remote control capabilities.
What Are The Core Factors Supporting Growth In The Portable Electric Heaters Market?
The escalating cognizance pertaining to energy effectiveness is predicted to bolster the expansion of the portable electric heaters market in the future. Energy efficiency is understood as the competency of a mechanism or instrument to execute its designed purpose with the least energy utilization, thereby cutting down on waste and cost. The rise in awareness regarding energy efficiency comes as a result of several aspects including environmental advantages, financial benefits, and correspondence with sustainability objectives. Portable electric heaters can be beneficial for energy efficiency if they are used mindfully to warm up specific regions or chambers, thereby reducing the total energy usage in comparison to heating up the whole house or workspace. For instance, data from the International Energy Agency (IEA), a France-based entity, in December 2022, demonstrated that worldwide investments in energy efficiency, such as architectural makeovers, mass transit, and electric auto infrastructures, hit USD 560 billion in 2022, reflecting a 16% hike in contrast to 2021. Initial reports from 2022 suggest a global improvement in energy efficiency by 2%, a speed that is almost four times quicker than the preceding two years and nearly twice as much as the previous five years. Hence, the escalating awareness pertaining to energy efficiency is fueling the growth of the portable electric heaters market.
What Are The Major Segments Within 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
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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How Are New Trends Impacting The Size Of The Portable Electric Heaters Market?
Large corporations in the portable electric heater market are introducing innovative items, such as intelligent space heaters, which offer effective, automated heating systems. These smart space heaters utilize modern technologies for streamlined and automated regulation of temperature. For example, in November 2023, a smart space heater was introduced by Govee Life Technology Limited, a producer based in China, designed to improve comfort and convenience in heating services. The heaters are equipped with Positive Temperature Coefficient (PTC) technology, designed to warm areas rapidly, attaining a temperature of 77°F in only 2 seconds. The heaters can be operated remotely by users through the Govee app or can be controlled by voice commands with Alexa and Google Assistant, due to their smart control integration, removing the necessity for traditional physical controls.
Who Are the Key Players In The Portable Electric Heaters Market?
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 Is The Most Dominant Region 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.
