Space Heater Market - By Product (Convection Heater, Ceramic Heater, Radiant & Infrared Heater, Fan Heater, Oil Filled Heater), By Technology (Portable, Surface- Mounted), By Energy Source (Electric, Gas), By Application (Residential, Commercial) & Forecast, 2024 – 2032

Space Heater Market Size

Space Heater Market size in 2023 was valued at USD 7.2 billion and is estimated to grow at 5.9% CAGR by 2032. The market is poised for an upward trajectory driven by increase in home renovations and new construction activities. For instance, the investment across the construction sector surpassed USD 8.5 Trillion in the year 2023.
 

Increasing awareness of environmental concerns along with surging consumer focus toward cost savings will drive the space heater market. The increasing population index coupled with integration of smart technology into these systems will escalate the industry growth. For instance, in China, about 55% of total population prefer localized heating solutions, which in turn will fuel the product penetration.
 

A space heater is a self-contained device designed to provide localized heating for a specific area or room. Also known as room heaters, these appliances are typically used to supplement existing heating systems or provide warmth in areas where central heating may be insufficient. Space heaters come in various types, including electric, gas, oil-filled, ceramic, and radiant heaters, each utilizing different heating mechanisms.
 

COVID– 19 Impact

The space heater market has experienced significant changes owing to the effects of COVID-19. The duration of the pandemic, the geographical locations of businesses, and specific subsegments within the industry have all played a role in shaping the extent and nature of this influence. Despite these challenges, the rise of remote work and the continuous adoption of advanced electrical equipment have emerged as key drivers fostering the growth and expansion of businesses in this sector.
 

Space Heater Market Trends

Growing emphasis on safety features including tip-over protection, overheat protection, and cool-touch exteriors, will be impactful in shaping the demand for the market. The integration of these units with smart technology features including remote control, programmable settings, and compatibility with smart home systems, influenced to gain popularity. Moreover, increasing focus toward environmental issues coupled with growing focus toward home automation will foster the business potential.       
 

Space Heater Market Analysis

Based on technology, the market is segmented as portable and surface mounted. The portable space heater industry size will witness growth rate of 6% by 2032. Compliance with safety and energy efficiency standards in line with increasing disposable income will positively sway the industry landscape. The integration of smart technologies including Wi-Fi connectivity and smartphone controls, has been a noticeable trend, accelerating the industry potential. Paradigm shift toward energy conservation coupled with surging consumer inclination toward compact and space-saving will augment the business landscape.
 

Based on product, the space heater market is segmented as convection heater, ceramic heater, radiant & infrared heater, fan heater, oil filled heater & others. The convection heater market holds a share of over 20% in 2023. Furthermore, growing demand for energy-efficient and environmentally friendly heating solutions and reducing their carbon footprint will escalate the business outlook. The high reliability, low maintenance and versatile applications of these space heaters are key factors driving the product demand.
 

Based on energy source, the space heater market is segmented as electric and gas. The electric space heater industry is set to surpass USD 7 billion by 2032. The affordability of electric space heaters compared to other heating alternatives makes it a preferable option across wide tandem of application areas. Furthermore, increasing emphasis on energy efficiency and environmental sustainability coupled with lower economic cost of electricity will institute a favorable business scenario.  
 

Based on application, the space heater market is segmented as residential and commercial. Flourishing real estate sector along with increasing trend of work from home concept will foster the industry potential. Growing demand for eco-friendly heating systems coupled with shifting focus toward IoT based units will favor the business scenario. Some space heaters were designed to serve multiple functions, such as combining a heater with a fan or air purifier. This multi-functionality appealed to consumers looking for versatile home appliances.
 

• The North America space heater market was valued at USD 1.5 billion in 2023. The cold climatic conditions along with  stringent government energy efficiency regulations are the key factors shaping the demand for these heaters. For instance, Boston received 12.4 inches of snow and New York City measured 2.3 inches, accumulated throughout the entirety of the winter in the last year.
   
• The surge in demand further propelled by significant factors including government regulations and standards, technological improvements, innovations in heating technologies contribute to market expansion. Furthermore, increasing awareness of environmental issues and energy conservation will encourage consumers to choose energy-efficient and eco-friendly space heaters.
   

Space Heater Market Share

The major companies in the industry are concentrating on marketing strategies, technological advancements, brand visibility, and achieving economies of scale to effectively navigate the competitive landscape. Their emphasis lies in the development of smart heater designs, integrating advanced technological features and ergonomic capabilities into space heaters. Notably, companies are introducing products with mobile app controls and voice command functionalities to enhance user experience and stay at the forefront of innovation.
 

Daikin is one of the world's leading manufacturers of air conditioning and heating products, as well as various chemicals and refrigerants. The company stands at the forefront of innovation, consistently introducing cutting-edge technologies to enhance energy efficiency and environmental sustainability in the industry. With a commitment to excellence, it continues to shape the future of climate control solutions, serving diverse markets globally with a comprehensive range of advanced and eco-friendly products.
 

Space Heater Market Companies

The key market players operating across the industry include:

• DAIKIN INDUSTRIES, Ltd.
• Duraflame, Inc.
• Dyson 
• Energy Wise Solutions
• Wayfair LLC
• Honeywell
• Lasko Products, LLC
• Mill
• Newell Brands
• OPOLAR
• Optimus Enterprise, Inc.
• Rinnai Corporation
• SUNHEAT International
• Vornado Air, LLC
• DeLonghi Appliances Srl
• Midea
• Sunbeam Products, Inc.
• Domu Brands
• Crane - USA
• Twin Star Home
• SquareTrade
• Pelonis 
• Havells India Ltd. 
• Dr. Infrared Heater
   

Space Heater Industry News:

• In September 2023, Lasko launched four new heaters, including a smart oscillating tower and compact models, featuring modern designs for optimal heat distribution. The ThermaSMART Tower offers smart control through Lasko's app and voice commands, incorporating ClimaSense™ Technology for enhanced features. The Elite Ceramic Tower includes safety features like rollover prevention, tip-over protection, and a child-lock. The 18-inch Ellipse Tower provides 1500 watts of warmth with multiple modes and safety features, while the 12-inch Ellipse Heater is compact for tabletop use. All Lasko heaters undergo rigorous testing and are ETL-certified for electrical performance standards.
   
• In January 2020, Twin Star Home announced that they have completed the acquisition of TK Classics, a leading designer and manufacturer of outdoor furniture based in West Sacramento, California. TK Classics designs rich outdoor furniture and will help the company in the shell design for fireplaces. The strategic acquisition strengthened Twin Star's position as a market leader in home furnishings throughout North America, expanding its lifestyle product portfolio to include outdoor living.
   

The space heater market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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By Product, 2019 – 2032 (Units & USD)

• Convection Heater
• Ceramic Heater
• Radiant & Infrared Heater
• Fan Heater
• Oil Filled Heater
• Others

By Technology, 2019 – 2032 (Units & USD)

• Portable
• Surface-Mounted

By Energy Source, 2019 – 2032 (Units & USD)

• Electric
• Gas

By Application, 2019 – 2032 (Units & USD)

• Residential
• Commercial

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