Home > Industrial Machinery > HVAC > Heating and Cooling > Residential Space Heater Market
Residential Space Heater Market Size
Residential Space Heater Market size in 2023 was valued at USD 5.5 billion and is estimated to grow at a rate of 5.7% from 2024 and 2032. The industry is set for an upward trend propelled by a surge in home renovations and new construction activities. For instance, in 2023, the construction of new houses accounts for over 20% of the overall investment in construction across the Europe.
Residential space heaters are portable devices designed to provide localized warmth in specific areas of a home. These heaters are typically used to supplement central heating systems or to heat specific areas within a home comprising of bedrooms, offices, or living rooms. With advancements in technology, modern space heaters often come equipped with safety features such as tip-over protection, overheat protection, and programmable timers, ensuring both efficient heating and peace of mind for users.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 5.5 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.7% |
| 2032 Value Projection: | USD 9 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 135 |
| Tables, Charts & Figures: | 50 |
| Segments covered: | Product, Energy Source, Technology & Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Residential Space Heater Market Trends
Rising awareness of environmental issues combined with a growing consumer emphasis on cost savings will amplify the space heater market. The industry's growth will be accelerated by a growing population and the integration of smart technology into these systems. The integration of these units with features comprising of remote control, programmable settings, and compatibility with smart home systems, has boosted the product deployment. Additionally, the rising concern for environmental issues along with a growing interest in home automation will enhance the business potential.
Residential Space Heater Market Analysis
The ceramic residential space heater industry will exceed over USD 1.5 billion by 2032. These heaters are known for their quick heating capabilities & safety features including cool-to-touch exteriors and overheat protection, which in turn will fuel the product penetration. The increasing demand for energy-efficient and environmentally friendly heating solutions along with surging efforts to reduce carbon footprints will drive the business scenario. Growing emphasis on sustainable living along with rising urbanization rate will positively sway the industry potential.
The electric residential space heater market size will witness growth rate of over 5% by 2032. The growing focus on energy efficiency and environmental sustainability coupled with the reduced economic cost of electricity will create a favorable business environment. The product offers key benefits including programmable thermostats, remote controls and enhanced safety mechanisms, driving the industry growth. Additionally, the shift toward renewable energy sources in line with increasing disposable income will fuel the business growth.
The Asia Pacific residential space heater market is set to surpass USD 3 billion by 2032. The surge in demand is driven by significant factors comprising of government regulations and standards, technological advancements, and innovations in heating technologies. Furthermore, growing awareness of environmental issues and energy conservation will prompt consumers to opt for energy-efficient and eco-friendly space heaters.
The increasing population index along with growth of smaller living spaces will foster the U.S. market. Surging demand for compact and portable heating devices along with ongoing shift toward nuclear families will augment the business landscape. Ongoing technological advancements have led to the development of more efficient and environmentally friendly heaters, including electric and infrared models, which appeal to eco-conscious consumers, which in turn will offer significant opportunities for industry expansion.
Residential Space Heater Market Share
Honeywell operates as one of the leaders in technology and innovation, offers a diverse range of space heaters designed to provide efficient and reliable heating solutions for residential and commercial spaces. The company’s heaters are engineered with cutting-edge technology to ensure optimal performance and safety. These heaters come in various models, including ceramic, infrared, and oil-filled radiators, catering to different heating needs and preferences.
Equipped with advanced features including programmable thermostats, multiple heat settings, and overheat protection, it delivers warmth with precision and peace of mind. Whether it's for supplemental heating in a single room or maintaining comfort in larger areas, Honeywell's space heaters are trusted for their quality, reliability, and energy efficiency.
Residential Space Heater Market Companies
The key industry players include:
- Crane - USA
- DAIKIN INDUSTRIES, Ltd.
- DeLonghi Appliances Srl
- Domu Brands
- Dr. Infrared Heater
- Duraflame, Inc.
- Dyson
- Energy Wise Solutions
- Havells India Ltd.
- Honeywell
- Lasko Products, LLC
- Midea
- Mill
- Newell Brands
- OPOLAR
- Optimus Enterprise, Inc.
- Pelonis
- Rinnai Corporation
- SquareTrade
- Sunbeam Products, Inc.
- SUNHEAT International
- Twin Star Home
- Vornado Air, LLC
- Wayfair LLC
Residential Space Heater Industry News
- In March 2024, Midea debuted its CirQHP series at Mostra Convegno Expocomfort (MCE), presenting a comprehensive range of home climate control solutions tailored for European households. With a focus on enhanced efficiency and reduced energy expenses, these products feature advanced technology for swift temperature adjustments and dependable performance. Specifically engineered to cater to the distinctive space heating requirements of colder regions, this series provides a convenient one-stop solution for homeowners.
- In September 2023, Lasko has introduced new range of four new heaters including the smart oscillating tower and compact size, all designed for optimal heat distribution and featuring modern designs. The tower allows for smart control via the company’s application and voice commands, and it incorporates ClimaSense Technology for enhanced functionality.
- The Elite Ceramic Tower boasts safety features such as rollover prevention, child lock and tip-over protection. The 18-inch Ellipse Tower delivers 1500 watts of warmth, offering multiple modes and safety features. The 12-inch Ellipse Heater is a compact model ideal for tabletop use. Each Lasko heater undergoes rigorous testing and is ETL-certified to meet electrical performance standards.
The residential space heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Units” & “USD Million” from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Product
- Convection Heater
- Ceramic Heater
- Radiant & Infrared Heater
- Fan Heater
- Oil Filled Heater
- Others
Market, By Technology
- Portable
- Surface-Mounted
Market, By Energy Source
- Electric
- Gas
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Netherlands
- Spain
- Norway
- UK
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Singapore
- Malaysia
- Philippines
- Vietnam
- Indonesia
- Middle East & Africa
- Saudi Arabia
- UAE
- Iran
- Iraq
- Turkey
- South Africa
- Latin America
- Brazil
- Chile
- Argentina
Frequently Asked Questions (FAQ) :