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Report
United States Electric Space Heaters - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The United States electric heaters market has generated revenue of USD 2.165 billion in the current year and is poised to achieve a CAGR of more than 4% for the forecast period.
Key Highlights
-Most of the places in the United States are cold, and energy-efficient electric space heaters are gaining favor in the United States. Energy efficiency rules, environmental concerns, and cost reductions are driving up demand for effective heaters.
-Electric space heaters utilize smart technology, and smart heaters provide remote control, customizable settings, and smart home integration. Remote heating control optimizes energy use and user convenience. Electric heaters are in increasing demand due to their efficiency, simplicity of installation, and clean functioning.
-Most enterprises and homeowners are switching to electric heaters because of the growing living standard of the consumer and the increasing adoption of electric and technologically upgraded products. Manufacturers are investing in R&D to increase heating efficiency, heat dispersion, and energy usage.
-New insulating materials, heating element designs, and control methods are improving electric space heaters. As the application of electric space heaters market is increasing, the demand for the product has also surged.
United States Electric Space Heaters Market Trends
Energy Efficiency of Electric Space Heaters
- The rising household population's demand for energy-efficient and cost-effective electric-powered appliances in the United States has increased. Shifting consumer preference to electric appliances, which are energy efficient and require lesser repair and maintenance costs, is further supporting the product demand.
- Government initiatives to improve energy efficiency and technological advancements are encouraging manufacturers to prioritize innovative and efficient household appliances such as electric space heating products.
- These factors will attract customers to fulfill their necessities of heating applications and boost product consumption. Rising consumer demand for smart home appliances and growing consumer preference for buying smart housing facilities are driving the growth of the electric space heaters market.
Growing Residential Infrastructure
- Residencies increasingly use electric appliances to fulfill their space heating needs. Therefore, growing residential infrastructural settings are driving the electric space heaters market. According to the United States Census Bureau statistics, new residential housing sales in the United States increased over the past two years.
- Additionally, the increasing number of middle-income population groups and their spending on energy-efficient home appliances support the electric space heaters segmental revenues. Smart homes are increasingly adopting electric space heaters to reduce utility costs. This factor makes the electric space heaters segment generate considerable product revenues.
United States Electric Space Heaters Industry Overview
Electric space heaters marker is a fragmented industry. Manufacturers are producing energy-efficient versions with innovative technology and smart controls to fulfill market demands. The major players in electric space heaters in the United States are Crane, Daikin Industries Ltd., Devco Heaters, Dyson Ltd., and Honeywell International Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Safety concerns are driving the market.
4.3 Market Restraints
4.3.1 Dry air can cause irritations to the skin
4.4 Market Opportunities
4.4.1 Technological Advancement in Electric Space Heaters Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovation in the Market.
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Convection Heaters
5.1.2 Radiant and Infrared Heater
5.1.3 Other Product Types
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Crane
6.2.2 Daikin Industries Ltd
6.2.3 Devco Heaters
6.2.4 Dyson Ltd
6.2.5 Honeywell International Inc
6.2.6 Lennox
6.2.7 Vornado
6.2.8 Heater Genie
6.2.9 Radiant Heat
6.2.10 Heat Storm*
7 MARKET FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
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