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Growing demand for propane space heating products and increasing inclination of consumers toward highly-efficient domestic appliances to catalyze market growth
- With the rising electricity prices in developed economies, the demand for propane space heating products has increased considerably in the recent years.
- Furthermore, the growing popularity of propane gas from the construction industry is likely to create unique opportunities for the commercial and residential heating markets, especially in the space heating products segment, in turn, driving the market growth for space heaters.
- Rising demand for highly-efficient, energy-saving, and safe domestic heating appliances is one of the key trends that is likely to offer immense market opportunities.
- In addition, investments in R&D activities on numerous domestic heating appliances will further augment the demand for domestic heating appliances such as space heaters.
Get Space Heaters Market Overview
Fan heaters accounted for the largest space heaters market share in 2019.
- Based on product, the space heaters market is segmented into fans heaters, convection heaters, radiant heaters, and ceramic heaters.
- In 2019, the fan heaters accounted for the largest share of the global market due to their immense popularity among the consumers.
- These heaters are usually available in a variety of sizes and shapes and can be used in cold as well as warm weather conditions. These advantages make them the most viable solution for consumers looking out for safer options when children and pets are involved.
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North America is expected to show the highest growth during forecast period.
- Based on geography, the space heaters market is segmented into APAC, Europe, MEA, North America, and South America.
- By 2024, North America will account for 37% of the growth due to the increasing consumer awareness regarding energy optimization, particularly, in the US and Canada.
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Prominent Player Analysis
- The space heaters market is fragmented with players categorized as pure-play, industry-focused and dominant players in this report.
- Vendors in the market are focusing on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- This market forecast provides information on the competencies and capacities of these companies such as Crane - USA, Daikin Industries Ltd., DeLonghi Spa.
- In addition, the space heaters forecast report by Technavio provides information on the production, sustainability, and prospects of several leading companies, including Dyson Ltd., Honeywell International Inc., Lasko Products LLC, Midea Group Co. Ltd., Newell Brands Inc., SUNHEAT INTERNATIONAL, and Vornado Air LLC among others.
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