Top 3 Emerging Trends Impacting the Global Space Heaters Market from 2017-2021: Technavio

Technavio has published a new report on the global space heaters market from 2017-2021. (Graphic: Business Wire)

LONDON--()--Technavio’s latest report on the global space heaters market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The research study by Technavio on the global space heaters market for 2017-2021 provides detailed industry analysis based on the product type (fan heaters, convection heaters, radiant heaters, and ceramic heaters) and geography (Europe, North America, APAC, and ROW).

 
Space heaters are electrical equipment that are used as a complementary heat source in addition to the central heating system that facilitates zonal heating and minimizes energy costs. Technavio analysts forecast the global space heaters market to grow to USD 4,670.5 million by 2021, at a CAGR of more than 5% over the forecast period.

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The top three emerging trends driving the global space heaters market according to Technavio consumer and retail research analysts are:

  • Increasing demand for high efficiency and safe domestic heating appliances
  • Growing demand for propane space heating products
  • Emergence of smart space heaters

Increasing demand for high efficiency and safe domestic heating appliances

The demand for domestic heating appliances which are efficient and create significant energy savings to the consumer is driving the space heater market. The need for a comfortable and luxurious life is one of the factors enabling to invest in the market,” says Poonam Saini, a lead analyst at Technavio for retail goods and services research.

Also, increasing investments towards the R&D of various domestic heating appliances in the market is further boosting the growth of domestic heating appliances. Product advancement is also one of the key factors for healthy growth of domestic heating appliances market.

Growing demand for propane space heating products

The demand for propane heaters to heat residential interiors is steadily increasing, due to the affordable procurement and maintenance costs of these devices. The power industry in regions such as New England is highly reliant on natural gas to power their electricity lines, which makes propane heaters a very suitable option for the consumers in the region. Also, the growing construction sector has created an additional demand for propane heaters.

Emergence of smart space heaters

With rapid advances in design and engineering, vendors in the global space heaters market are incorporating various safety, energy, and aesthetics features in their products to provide value adds and gain a competitive edge in the market,” says Poonam.

The advent of technology has enabled the emergence of smart space heaters that can be controlled from smart devices. Using the mobile app, customers can warm up a room from anywhere and program a set schedule to maintain set temperatures throughout the day.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global space heaters market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com