About Space Heaters
Space heaters are a technology that heats the entire room. The space heaters are the judge based on the mode of heating convection, conduction, and radiant heaters. The places where warm clothes are not enough to handle cold, at that place space heaters are a suitable product. The market players are investing in technology development.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is witnessing moderate growth among market-leading players, by looking at the huge growth in this industry the market-leading players are heavily focusing on the production technologies, efficiency enhancement, and product life. There is numerous growth opportunity in this market which is captured by leading players by tracking the ongoing process enhancement and huge invest in business growth strategies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Space Heaters market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Vornado Air (United States), Dyson (United Kingdom), Honeywell International (United States), Crane-USA (United States), Lasko Products Inc. (United States), Sunheat International (United States), Sunpentown International (United States), Rinnai Corporation (Japan), Optimus Enterprise Inc. (United States) and Economy Engineering Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Lasko Products, LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Space Heaters market by Type (Electric Space Heaters and Motors Space Heaters), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Space Heaters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Watt, the sub-segment i.e. Up to 499 W will boost the Space Heaters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Distributers will boost the Space Heaters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Ceramic will boost the Space Heaters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development in Technology and Increase in Market Competencies
Market Growth Drivers:
Development in Product Features and The large scope of industries such as Automotive and Aerospace.
Challenges:
Fluctuation in Cost of Raw Materials
Restraints:
Slowdown in Economy
Opportunities:
Increase Availability on Online Platforms and Development in Less Energy Consumption Space Heaters
Market Leaders and their expansionary development strategies
In December 2022, Honeywell announced court approval of NARCO trust buyout and planned acquisition of Harbison Walker by platinum equity. Honeywell has announced court approval of its buyout agreement with the North American Refractories Asbestos Personal Injury Settlement Trust, which provides for the elimination of Honeywell's funding obligations to the Trust.
In Nov 2020, Blaux Heaters announced to reveal its new Blaux Personal Space Heater. It is a power-efficient personal heating device. This company is enhancing their competitiveness and enhance its revenue generation.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Space Heaters Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.