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Residential Space Heater Market Trends

Report ID: GMI9793
Published Date: Jun 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Residential space heater industry size was USD 5.5 billion in 2023 and will grow at a 5.7% CAGR between 2024 and 2032, driven by increasing demand for energy-efficient heating solutions and rising awareness of environmental sustainability.

Ceramic residential space heater industry will surpass USD 1.5 billion by 2032, primarily due to its compact size, lightweight design, superior energy efficiency, and safety features.

Asia Pacific residential space heater industry will exceed USD 3 billion by 2032, propelled by rapid urbanization, changing climatic conditions, and increasing disposable incomes across the region.

Some of the key residential space heater industry players are Duraflame, Inc., Dyson, Energy Wise Solutions, Havells India Ltd., Honeywell, Lasko Products, LLC, Midea, Mill, Newell Brands, and OPOLAR, among others.