The Asia Pacific Electric Wall Heater Market was valued at USD 168.70 million in 2023 and is projected to grow at a CAGR of 7.8%, reaching approximately USD 285.40 million by 2030.
Market Overview:
The demand for electric wall heaters has significantly increased due to their energy-efficient features, which allow homeowners to control the heat output by adjusting wattage. Rapid urbanization, rising demand for luxury and convenience in homes, and changing lifestyles in countries like Afghanistan, Pakistan, India, Australia, Korea, Fiji, Indonesia, China, and Japan have driven market growth in the Asia Pacific region. These heaters are preferred over gas-based central heating systems because of their advantages in energy efficiency, cost-effectiveness, and technological advancements.
For a closer look at the study’s findings, click here:https://www.stellarmr.com/report/req_sample/Asia-Pacific-Electric-Wall-Heater-Market/1309
Market Dynamics:
Electric wall heaters are becoming increasingly popular, especially for domestic use, due to their lower costs compared to other systems like electric hydronic baseboard heaters, which require ducting. These heaters are self-contained, pulling in cold air through the front and expelling hot air, eliminating the need for wall or ceiling ducting.
Drivers: Several companies have introduced innovative electric wall heaters. For instance, in December 2020, Broan Corporation launched the ‘Broan 198 Fan-Forced High-Capacity Wall Heater,’ while King Electric Corporation introduced the EFW Large 240V Wall Heater in 2019, featuring automatic safety shutoff mechanisms. These products are in high demand, especially in regions with harsh winters such as Russia, Australia, Korea, and China.
Additionally, rising demand for energy-efficient products has contributed to the growth of the electric wall heater market. Electric heating systems, which boast 100% energy conversion efficiency, are increasingly preferred for modern, sustainable construction projects. Factors like the expansion of manufacturing companies and government regulations supporting cost-effective energy solutions are also boosting the market.
Increased income levels, improved living standards, and rising consumer spending in the Asia Pacific region have fueled demand for compact and user-friendly electric heaters, especially for bathrooms and small spaces.
Challenges: The COVID-19 pandemic significantly impacted the market, particularly in countries like Afghanistan, Pakistan, India, Australia, Korea, Fiji, Indonesia, China, and Japan. Lockdowns, travel restrictions, and disruptions in supply chains caused financial challenges for manufacturing firms in the region. As consumers focused on conserving their spending, demand for luxury items, including electric wall heaters, declined.
Segment Analysis:
- By Application: The market is segmented into residential and non-residential applications. In the Asia Pacific region, rising disposable income and urbanization have led to increased adoption of electric wall heaters in residential settings. Countries with harsh climates, such as Russia, Australia, China, and Korea, are witnessing higher usage of these heaters to enhance home comfort. While the non-residential segment has experienced some growth, the pandemic-induced lockdowns have limited its expansion.
- By Type: The market is categorized by wattage: 1000 Watt, 1000 to 1600 Watt, 1600 to 2000 Watt, and >2000 Watt. Varying climate conditions across the Asia Pacific region drive demand for different types of electric wall heaters. The 1000 to 1600 Watt segment holds the largest market share due to its suitability for residential and commercial applications. The 1600 to 2000 Watt segment follows closely, addressing the needs of larger spaces and colder regions. Additionally, manufacturers have introduced portable electric wall heaters to meet the demand for smaller spaces such as bathrooms, further driving market growth in this segment.
For a thorough exploration of this study, visit this link:https://www.stellarmr.com/report/req_sample/Asia-Pacific-Electric-Wall-Heater-Market/1309
Asia Pacific Electric Wall Heater Market Key Players:
Panasonic Corporation
Deka, Toshiba Corporation
A.O Smith
Whirlpool Corporation
Racold,
Bosch Thermotechnology
Ferroli,
Bradford White
Ariston Thermo
Rheem Manufacturing
Noritz Corporation
State water heaters
Rinnai Corporation
Visit this link to explore the complete findings of the study:https://www.stellarmr.com/report/Asia-Pacific-Electric-Wall-Heater-Market/1309
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
More Trending Reports:
Asia-Pacific Casino Gaming Equipment Market :Asia-Pacific Casino Gaming Equipment Market was valued nearly US$ 3.69 Bn. in 2023. Asia-Pacific Casino Gaming Equipment Market size is estimated to grow at a CAGR of 5% & is expected to reach at US$ 5.19 Bn. by 2030.
North America Paper Packaging Market :North America Paper Packaging Market was valued at US$ 48.14 Bn. in 2023. Global North America Paper Packaging Market size is estimated to grow at a CAGR of 5%.
Europe Paper Packaging Market :Europe Paper Packaging Market was valued at US$ 52.37 Bn. in 2023. Global Europe Paper Packaging Market size is estimated to grow at a CAGR of 4%.
European Micro Electric Vehicle (EV) Market :European Micro Electric Vehicle (EV) Market was valued at USD 5.04 billion in 2023 and is estimated to reach a value of USD 13.44 billion in 2030. European Micro Electric Vehicle (EV) Market size is estimated to grow at a CAGR of 15.02% over the forecast period.
North America Crop Sprayer Market: North America Crop Sprayer Market was valued at USD 0.49 billion in 2023 and the market size is estimated to grow at a CAGR of 4.8% over the forecast period.
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
