Space Heaters Market size to grow by USD 2.44 billion from 2022 to 2027, the market is fragmented due to the presence of prominent companies like Crane USA, Daikin Industries Ltd. and Dr. Infrared Heater, and many more - Technavio

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Sep 27, 2023, 18:15 ET

NEW YORK, Sept. 27, 2023 /PRNewswire/ -- The space heaters market is estimated to grow by USD 2.44 billion from 2022 to 2027, growing at a CAGR of 5.56%. The space heaters market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer space heaters market are Crane USA, Daikin Industries Ltd., Dr. Infrared Heater, Duraflame Inc., Dyson Group Co., Energy Wise Solutions, HomeVision Technology Inc., Honeywell International Inc., Lasko Products LLC, Mill International AS, Newell Brands Inc., OPOLAR, Optimus Enterprise Inc., Rinnai Corp., Stadler Form Aktiengesellschaft, SUNHEAT International, Sunpentown International Inc., Vornado Air LLC, DeLonghi Group, and MIDEA Group Co. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying

Technavio has announced its latest market research report titled Global Space Heaters Market 2023-2027

Company Offering:

Crane USA - The company offers a space heater called Crane Mini Fireplace heater.
Daikin Industries Ltd. - The company offers space heaters such as radiant heaters under its brand Daikin et Rotex.
Dr. Infrared Heater - The company offers space heaters such as oil-filled radiators, fan heaters, and convector heaters.
For details on companies and their offerings – Buy the report!

By Geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe will have the largest share of the market. Europe will account for 33% of the global market during the forecast period. This market accounts for approximately 70% of building energy needs in the region. Given the new developments and innovations like smart space heaters in the market, the market will see significant growth during the forecast period. This is because these consumers invest in home automation and smart homes connected with the Internet of Things. Furthermore, another factor that drives the regional market growth is the growing demand for energy-efficient products. Hence, such factors drive the growth of the European space heaters market during the forecast period. Download a FREE sample report to get more insights on the market share of various regions and the contribution of the segments.

Impactful driver- Growth in expenditure on essential items in emerging nations
Key Trend - Increasing demand for highly efficient, energy-saving, and safe domestic heating appliances
Major Challenges - High operational costs of space heaters

Market Segmentation

By Application, the residential segment will be significant during the forecast period.

Technavio Research experts have provided more insights on the market share of segments - View a FREE Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio