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Electric Radiators Market Size, Share and Global By Type (Fan Heaters, Convention Radiators, Infrared Radiators, Oil-based Radiators), By Application (Residential, Commercial, Industrial), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI100826 | Status : Ongoing

 

KEY MARKET INSIGHTS

Radiators are basically the heat exchangers made for space heating by transferring thermal energy from one medium to another. The electric radiators are generally cheaper to operate as compared to gas central heating or storage heaters as they are really energy efficient in nature and they provide precision heating control. Electric radiators use electric power for generating heat in order to warm the room temperature & are quite compact in nature and can be easily fixed into small and narrow rooms.


These radiators are made up in such a way that they can prevent oil leakage and are controlled by a thermostat which helps in integrated radiators into the house & can be used in the areas where there is a high intensity of the cold. Increasing demand for providing heat to households, smart home solutions and an increase in government spending on smart cities along with the emergence of the smart cities concept within build electric radiators are some of the important driving forces of the market. However, it is limited to small spaces.

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On the basis of type, the electric radiators market is categorized by fan heaters, convection radiators, infrared radiators, and oil-based radiators. Among which oil-based radiators are considered to be the best form of a radiator as it provides better heat retention, even distribution of heat, and is sustainable in nature. The immediate advantage of an oil-based electric radiator is its fire safety features, noise-free operation, and its increased mobility. The residential electric radiators market is projected to grow due to rapid technological advancements along with favorable regulatory policies. In addition, the implementation of minimum energy performance needs for new buildings along with the major industrial refurbishment is expected to uplift the market.

Increasing demand for smart home solutions and the inclination of government spending towards smart cities with the concept of built-in electric radiators are the key drivers for electric radiators market. Additionally, the rising demand from SMEs and various industry verticals are also expected in the market. It is affordable, easy to use, small in size, heats up quickly, portable, and has an adjustable thermostat.

The major hindrance for the electric radiators market is that it is limited only within small spaces and is not feasible for big spaces, they are suitable for interiors but cannot pertain to the exterior or larger spaces.

Key Players Covered


Some of the major companies that are present in electric radiators market are Tesy, King Electric, Fischer Heat, Eskimo Products Ltd., Dimplex, Technotherm, Noirot, AIRELEC, Irsap, Haverland, Elnur, GREE Electric, Midea, SINGFUN, DYSON, AUX Group Co, AUCMA, CHIGO, Haier, and Lucht Elektroheizung GmbH & Co. KG.

SEGMENTATION






















SEGMENTATION


 DETAILS


By Type


·      Fan Heaters

·      Convention Radiators

·      Infrared Radiators

·      Oil-based Radiators


By Application


·      Residential

·      Commercial

·      Industrial


By Geography


·      North America (the USA and Canada)

·      Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

·      Latin America (Brazil, Mexico, and Rest of Latin America)

·      Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)


                       

Regional Analysis


The electric radiators market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is to witness considerable growth owing to rising electricity demand coupled with an increasing focus toward the reduction of carbon emissions. Strict government regulations along with technological enhancements are expected to uplift the market. Europe is expected to contribute to development for the electric radiators market due to a rise in focus towards low energy bills along with the increasing need to conserve energy from generation to the final consumption at all stages of the energy chain. Asia-Pacific is expected to expand at a faster rate due to developing economies such as India and China which are observing a high rate of urbanization and industrialization. Owing to rapid urbanization, increase in disposable income, and technological advancements have improved the standard of living of people. These factors are expected to upsurge the market growth in a particular region.

Key Industry Developments



  • In March 2019, China Home Appliances and Consumer Electronics Expo (AWE2019) with the theme of “AI on Smart Life” was held at the Shanghai New International Expo Center. Aucma brought nearly 100 new products to the three system solutions of the smart cold chain, smart home appliances, and smart home.

  • In March 2018, Midea and KUKA Announce Roadmap for Robotics and Automation in China. Both parties will work to expand the businesses of industrial robots, healthcare, and warehouse automation, and to offer customized products and solutions.

  • In April 2019, GREE won 6 awards in 47th International Exhibition of Inventions of Geneva namely three gold awards, one silver award, and two special awards. In which, Gree AI multi VRF unit GMV6 got a gold award and Saudi Arabia Outstanding Innovation Award, and the high-precision magnetic bearing system got a gold award and Morocco Special Gold Award.





  • Ongoing
  • 2023
  • 2019-2022

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