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LONDON, GREATER LONDON, UNITED KINGDOM, October 11, 2024 /EINPresswire.com/ -- The portable electric heaters market has seen significant growth recently. It will increase from $9.69 billion in 2023 to $10.3 billion in 2024, achieving a CAGR of 6.3%. Factors contributing to this growth include increased awareness of energy efficiency, urbanization, rising energy costs, and a growing number of portable electric heaters.
What Is The Estimated Market Size Of The Global Portable Electric Heaters Market And Its Annual Growth Rate?
The portable electric heaters market is expected to grow significantly, reaching $13.23 billion by 2028, with a CAGR of 6.5%. Growth will be driven by rising disposable income, demand for flexible heating, and smart heating devices. Trends include product development, smart technology integration, and diversification of heating technologies.
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Growth Driver of The Portable Electric Heaters Market
The growing awareness of energy efficiency is expected to drive the portable electric heaters market in the future. Energy efficiency is defined as the capability of a system or device to perform its intended function while consuming minimal energy, thereby reducing waste and costs. The increasing focus on energy efficiency stems from various factors, including environmental benefits, financial savings, and alignment with sustainability objectives. Portable electric heaters can contribute to energy efficiency by selectively heating specific areas or rooms, thus minimizing overall energy use compared to heating an entire home or office space.
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Which Market Players Are Driving The Portable Electric Heaters Market Growth?
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 Are The Emerging Trends Shaping The Portable Electric Heaters Market Size?
In the portable electric heaters market, companies are developing energy-efficient models with smart temperature controls, advanced heating elements, and enhanced insulation. These heaters offer significant energy savings and environmental benefits, catering to consumers who seek cost-effective and eco-friendly solutions, positioning companies to meet growing demands for sustainable heating options.
How Is The Global Portable Electric Heaters Market 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
Geographical Insights: North America Leading 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.
Portable Electric Heaters Market Definition
Portable electric heaters are compact devices designed to heat small to medium-sized spaces effectively. Available in various models and heating mechanisms, these heaters are easily movable, making them ideal for localized heating in diverse settings.
Portable Electric Heaters Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global portable electric heaters market report covering trends, opportunities, strategies, and more
The Portable Electric Heaters Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on portable electric heaters market size, drivers and trends, portable electric heaters market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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