The global space heaters market is currently valued at around USD 3,764 million and is expected to reach almost USD 4,671 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global space heaters market, under its retail goods and services portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like De’Longhi Appliances, Honeywell International, Jarden Consumer Solutions, and Lasko Products.
According to Sharan Raj, a lead analyst for retail goods and services research at Technavio, “The global market is currently experiencing a surge in demand for electric and technologically advanced products. The trend is especially prominent in emerging nations. The surge in demand is attributable to the rise in double income households and the subsequent rise in per capita income.”
The rapid-growth of the global e-commerce market is also fueling the demand for space heaters in the global market. For instance, in emerging markets such as China and India, the growth of the e-commerce sector is a key driving force behind the adoption of household appliances.
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Increasing demand for high efficient, energy saving, and safety domestic heating appliances
Spurred by increasing concerns about energy consumption is propelling the demand for domestic heating appliances that are safe and energy-efficient. This demand is high in the urban market, especially in tier-1 cities as compared to a rural area and low tier cities. Product advancement is also one of the key factors for healthy growth of domestic heating appliances market. APAC is one of the important markets for the growth of domestic heating appliances.
Growing demand for propane space heating products
According to Technavio’s industry analysts, the demand for propane space heating products is projected to increase over the forecast period. The rising electricity prices in developed countries is one of the key driving forces behind the rising demand for propane space heating products. Residential customers represent almost 50% of the total consumer propane sales.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Space Heaters Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Household Vacuum Cleaner Market 2017-2021
- Global Online Jewelry Market 2017-2021
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