Electric Wall Heater Market Research Report - Global Forecast till 2030

Electric Wall Heater Market Research Report: Information by Application (Residential and Non-Residential), Power (<1000 Watt, 1000 to 1600 Watt, 1600 to 2000 Watt and >2000 Watt) and Region - Forecast till 2030

ID: MRFR/IA - E/6627-CR | July 2019 | Region: Global | 85 pages         

Electric Wall Heater Market

Electric Wall Heater Market has been witnessed to drive at a CAGR of 5.90%, with a value of USD 5,230.7 million during the forecasted 2020-2030

Segmentation

By Application Residential Non-Residential
By Power <1000 Watt 1000 to 1600 Watt 1600 to 2000 Watt >2000 Watt

Key Players

  • Marley Engineered Products
  • Stiebel Eltron Inc. Markel Products Company
  • Trane
  • Broan Inc.
  • WarmlyYours.com Inc.
  • King Electric
  • Indeeco
  • Glen Dimplex Group
  • Radiant Systems

Drivers

  • Smart Electric Wall Heater Technologies
  • Demand For Energy-Efficient Products
  • Rapid Urbanization And Evolving Lifestyles
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The electric wall heater market has been witnessed to drive at a CAGR of 5.90%, with a value of USD 5,230.7 million during the forecasted 2020-2030.


Electric Wall Heater Market Overview


An electric wall heater is an appliance that heats the cold water supplied through the system of the pipes. This heated water can be used for various purposes like taking a hot bath or shower and washing machines and dishwashers. Over a few decades, numerous technologies have been developed to make water heaters energy efficient, like the heat pump, condensing the gas water heaters, gas, electric tankless systems, etc. In recent years, the demand for water heaters has seen a surge across several regions to improve the standard of living.


However, due to the emergence of new technologies, several market players can make new solar heaters which demands a huge market. Furthermore, the improved cost-effectiveness of the batteries or modules is expected to restrain the solar heater market during the forecasting period. The solar heater installation requires major modification to a building's plumbing systems and has relatively less life than solar PV.


Electric Wall Heater Market Key Competitors


The key players of the global electric wall heater market are Marley Engineered Products, Stiebel Eltron Inc., Markel Products Company, Trane, Broan, Inc., WarmlyYours.com, Inc., King Electric, Indeeco, Glen Dimplex Group, and Radiant Systems.


Recent Development:


The United States is a major producer of electric wall heaters in the current world. The electric wall heater industry in the United States is deep-rooted, and it has been growing at a significant pace in the past few years.


The international trend is growing toward replacing fossil fuel as a primary energy source with alternative energy sources, like solar and wind, which are more environment-friendly and lower cost than fossil fuel energy.


Thermal energy is one of the alternative solutions that can be used in the water heaters or for electric power generation sectors. However, the low importance of the government sectors towards the development of the electric wall heaters facilities is likely to resist the growth of the market during the projected years.


Electric Wall Heater Market Segmentation



  • By Application – Residential and Non-Residential

  • By Power – 1000 to 1600 watt, 1600 to 2000 watt, <1000 watt, and > 2000 watt


The electric wall heater global market is segmented based on application and power. On the basis of application the global market is divided into residential and non-residential. The residential segment held the larger market share in 2018 as this segment has been witnessing significant growth in the demand for electric wall heaters owing to growing urbanization, rapidly changing lifestyle, and an increase in demand for comfort features in homes.


On the basis of power, the global market is segmented into <1000 Watt, 1000 to 1600 Watt, 1600 to 2000 Watt, and > 2000 Watt. The 1000 to 1600-Watt segment is expected to hold the maximum market share, due to the need for energy efficient high capacity heaters and heating solutions in residential and commercial applications. This is expected to increase the demand of 1000 to 1600-Watt in electric wall heaters during the forecast period.


Electric Wall Heater Market Regional Analysis


On the basis of region, the global electric wall heater market is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world.


Global Market of Electric Wall Heater, by Region, 2018  Electric Wall Heater Market


Source: MRFR Analysis


North America is expected to witness an excellent growth in the electric wall heater market, owing to rapid urbanization, increase in demand for comfort and convenience in homes, and rapidly changing lifestyle. The market in this region is characterized by improving government standards and stringent polices from Industrial Heating Equipment Association (IHEA) to provide better heating solutions to workers. This is expected to create opportunities for the manufacturers to invest in the local market in the coming years.


The US is one of the major producers of electric wall heaters in North America. The electric wall heater industry in the US is deep-rooted and has been growing at a significant pace in the past few years. The other prominent factors leading to the growth of the market in the US are the increase in manufacturing companies, rising government regulations towards energy efficient products, and extreme climatic conditions.


Electric Wall Heater Market Synopsis


The global electric wall heater market has been segmented on the basis of application and power. On the basis of application, the global market is segmented into residential and non-residential. The residential segment is expected to dominate the market, due to growing requirement of comfort features in homes.


Key Questions Addressed by the Report



  • What was the historic market size (2018)?

  • Which segmentation (Application/Power is driving market?

  • What will be the growth rate by 2025?

  • How are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 5,230.7 million
  CAGR   5.80% CAGR (2020-2030)
  Base Year   2021
  Forecast Period   2020-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application, Power
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Marley Engineered Products, Stiebel Eltron Inc., Markel Products Company, Trane, Broan, Inc., WarmlyYours.com, Inc., King Electric, Indeeco, Glen Dimplex Group, and Radiant Systems
  Key Market Opportunities   Smart Electric Wall Heater Technologies
  Key Market Drivers

  • Demand For Energy-Efficient Products
  • Rapid Urbanization And Evolving Lifestyles


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    Frequently Asked Questions (FAQ) :

    The incidence of top electric wall heater manufacturers is estimated to shape the development of the market in the coming years.

    A 5.90% CAGR is estimated to guide the development of the market in the impending period.

    The North American region is estimated to boost the market in the forthcoming period.

    The dual segments of application and power are motivating the market extensively.

    The contenders existing in the market are Stiebel Eltron Inc., Trane, Broan, Inc., Marley Engineered Products, WarmlyYours.com, Inc. and Markel Products Company.