Electric Space Heater Global Market Size Forecast Top 10 P - Maharashtra - Mumbai ID1556969

According to the new market research report “Global Electric Space Heater Market Report 2023-2029”, published by QYResearch, the global Electric Space Heater market size is projected to grow from USD 2915.1 million in 2023 to USD 3268 million by 2029, at a CAGR of 1.9% during the forecast period.

According to QYResearch Top Players Research Center, the global key manufacturers of Electric Space Heater include GlenDimplex, Midea Group, Hearth & Home Technologies, Singfun, Panasonic, Thermor, Twin-Star International, Gree, Airmate, De'Longhi, etc. In 2022, the global top 10 players had a share approximately 36.0% in terms of revenue.

Market Drivers:

Energy Efficiency and Cost Savings: Electric space heaters are often chosen for their energy efficiency, allowing users to heat specific areas without the need to warm the entire home. This can result in cost savings compared to central heating systems.

Ease of Installation and Portability: Electric space heaters are easy to install and do not require complex ductwork or infrastructure. Their portability allows users to move them from one room to another, providing targeted heating where needed.

Rising Energy Prices: Increasing energy prices may drive consumers to seek more cost-effective heating solutions. Electric space heaters, particularly those with energy-efficient features, can be an attractive option for budget-conscious consumers.

Restraint:

High Energy Costs: The operating costs of electric space heaters can be relatively high, especially in regions where electricity prices are elevated. Consumers may be concerned about the impact on their energy bills, limiting the widespread adoption of electric space heaters.

Limited Heating Capacity: Electric space heaters are generally designed for localized heating, suitable for specific rooms or areas. Their limited heating capacity might be a restraint for consumers seeking a more comprehensive heating solution for larger spaces.

Safety Concerns: Safety is a crucial consideration for electric space heaters. Reports of safety incidents, such as overheating, electrical malfunctions, or fire hazards, can erode consumer confidence and hinder market growth. Manufacturers need to prioritize and communicate robust safety features.

For more information, please contact the following e-mail address:
Email: global@qyresearch.com
Website: https://www.qyresearch.com

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.