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LONDON, GREATER LONDON, UNITED KINGDOM, November 5, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The outdoor heating market has experienced significant growth in recent years, increasing from $3.83 billion in 2023 to $4.09 billion in 2024, with a compound annual growth rate (CAGR) of 6.7%. This growth during the historical period can be linked to the expansion of outdoor living spaces, the rising trend of outdoor entertaining, demand from the hospitality industry, home improvement and renovation activities, climate variability, and seasonal usage.
What Are the Market Size Estimates for the Global Outdoor Heating Market and Its Expected Growth Rate?
The outdoor heating market is projected to experience robust growth in the coming years, reaching $5.28 billion by 2028 at a compound annual growth rate (CAGR) of 6.6%. This anticipated growth during the forecast period can be attributed to an emphasis on outdoor comfort at home, an increase in outdoor dining preferences, recovery in the hospitality industry, urbanization, limited indoor spaces, and heightened awareness of health and wellness in outdoor settings.
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What Are The Primary Growth Drivers Of The Outdoor Heating Market?
The increase in disposable income is expected to propel the growth of the outdoor heating market in the future. Disposable income refers to the funds available to an individual or household for spending and saving after accounting for taxes and essential expenses. The growth of the outdoor heating market is closely associated with rising disposable income, as consumers are more likely to invest in outdoor comfort solutions, thereby contributing to the market's expansion.
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Who Are The Top Market Players Contributing To The Growth Of The Outdoor Heating Market?
Key players in the outdoor heating market include Rinnai Corporation, Tansun Corporation, Bond Manufacturing Co, Blue Rhino Enterprises LLC, Schwank Ltd., Infrared Dynamics Inc., Lynx Grills Inc., Bromic Heating Ltd., Mr. Heater Corporation, Napoleon Heating & Cooling Inc., Enders Produktion GmbH, Outdoor GreatRoom Company LLC, Infralia Inc., Fire Sense Technologies Inc., Calcana Industries Ltd., Wolf Steel Ltd., Dayva International LLC, Heininger Holdings LLC, Sunheat International Inc., Sunglo Awnings & Heaters Inc.
What Emerging Trends Are Affecting The Size Of The Outdoor Heating Market?
Leading companies in the outdoor heating market are prioritizing product launches, including heat pumps, to replace gas or oil boilers in homes. A heat pump is a mechanical device designed to transfer heat from one location to another, typically extracting warmth from the external environment and delivering it indoors for heating, or reversing the process for cooling.
How Is the Global Outdoor Heating Market Segmented?
1) By Types: Portable, Standalone Heaters, Tabletop, Mountable
2) By Fuel Type: Electric, Gas or Propane, Wood and Solid Fuel
3) By Applications: Restaurant Patios, Rooftop Decks, Transit Shelters, Public Spaces
4)By End-User: Residential, Commercial
Geographical Analysis: North America Emerges as the Outdoor Heating Market Leader
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Overview Of The Outdoor Heating Market?
A space-heating system, commonly referred to as outdoor heating, provides warmth to specific areas such as patios, outdoor kitchens, or gathering spots. Outdoor heaters come in various sizes, designs, and features to suit different environments. Their popularity is rapidly increasing as garden decorations, especially for ensuring that everyone stays warm outdoors during the colder winter months.
The Outdoor Heating Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Outdoor Heating Market Report: Trends, Opportunities, Strategies, and More
The Outdoor Heating Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into outdoor heating market size, outdoor heating market drivers and trends, outdoor heating competitors' revenues, and outdoor heating market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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