PUBLISHER: Persistence Market Research | PRODUCT CODE: 1622885
PUBLISHER: Persistence Market Research | PRODUCT CODE: 1622885
Smart Electric Heaters Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031
Persistence Market Research has recently released a comprehensive report on the global Smart Electric Heaters Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.
Key Insights:
- Smart Electric Heaters Market Size (2023E): US$ 770.0 Million
- Projected Market Value (2033F): US$ 3,290.7 Million
- Global Market Growth Rate (CAGR 2023 to 2033): 15.6%
Smart Electric Heaters Market - Report Scope:
The global smart electric heaters market consists of devices that use advanced technology to heat indoor spaces more efficiently than traditional electric heaters. These heaters come with features such as Wi-Fi connectivity, programmable thermostats, and energy-saving modes, allowing users to control heating remotely via a mobile app or voice command. Some models are designed to learn user behavior and adjust the settings automatically for optimal comfort and energy conservation. With growing demand for energy-efficient and eco-friendly solutions, smart electric heaters are gaining traction as an essential component of smart homes. The market has been witnessing significant growth and is expected to continue expanding with technological advancements and increasing consumer awareness of smart home solutions.
Market Drivers:
The growth of the smart electric heaters market is driven by several factors, including the rising adoption of smart home solutions, increasing consumer demand for energy-efficient appliances, and the growing focus on sustainability and reducing utility costs. Smart electric heaters offer an innovative solution for optimizing indoor heating by integrating advanced technologies such as IoT, machine learning, and real-time monitoring. As consumers seek greater control over their energy consumption and comfort, the adoption of smart heating solutions is expected to increase. Additionally, the rising trend of remote working and home-based lifestyles has further fueled the demand for efficient and customizable home heating systems. Furthermore, the increasing awareness of reducing carbon footprints and utility bills is driving more people to opt for energy-efficient heating devices.
Market Restraints:
Despite its promising growth trajectory, the smart electric heaters market faces certain challenges. A key concern is the risk of cybersecurity threats associated with connected devices. As these heaters rely on internet connectivity and remote control capabilities, they become vulnerable to potential hacking and unauthorized access. Cybersecurity issues can pose significant risks to consumers' privacy and security, potentially limiting the adoption of these devices. Additionally, the higher initial cost of smart electric heaters compared to traditional models may deter price-sensitive consumers, especially in developing regions. Furthermore, limited consumer awareness about the benefits and features of smart electric heaters could hinder market penetration in some areas.
Market Opportunities:
The smart electric heaters market offers substantial growth opportunities driven by technological advancements and increasing investments in smart home technologies. Manufacturers are focusing on enhancing product features, such as integrating AI and machine learning to provide more intuitive heating experiences. There is also a growing opportunity in offering smart heating solutions that can be seamlessly integrated with other home automation systems. Furthermore, expanding adoption in emerging economies, where the demand for energy-efficient solutions is on the rise, presents a promising avenue for market growth. The increasing trend toward home renovations and upgrades, particularly in residential spaces, further creates opportunities for market players to expand their product offerings. With government initiatives aimed at promoting energy efficiency and sustainability, smart electric heaters are positioned to capture a larger market share in the coming years.
Key Questions Answered in the Report:
- What are the primary factors driving the global growth of the smart electric heaters market?
- How will technological advancements shape the future of the smart electric heaters market?
- What are the regional market dynamics, and how are they influencing the global market growth?
- Who are the key players in the smart electric heaters market, and what strategies are they employing to maintain their market positions?
- What are the emerging trends and future outlooks for the global smart electric heaters market?
Competitive Intelligence and Business Strategy:
Leading companies in the global smart electric heaters market are focusing on product innovation, energy efficiency, and expanding their product portfolios to cater to the growing demand for smart home solutions. Companies are leveraging technological advancements to integrate features such as voice control, machine learning, and automated temperature adjustments. Partnerships with smart home technology providers and collaborations with IoT companies are helping market leaders enhance their offerings and improve customer experience. Additionally, strategic pricing and marketing strategies are being employed to attract a wider consumer base, particularly in emerging markets. Companies are also focusing on sustainability, producing eco-friendly and energy-efficient solutions to meet the growing consumer preference for green products.
Key Companies Profiled:
- Honeywell International Inc.
- Zehnder Group
- Haier Electronics Group Co., Ltd.
- Mitsubishi Electric Corporation
- A.O. Smith
- Seimens AG
- Danfoss
- Rheen Manufacturing Company
- Glen dimplex
- Others ( as per client request)
Smart Electric Heaters Market Segmentation:
By Function:
- Smart Climate Control
- Smart Water Heaters
By End User:
- Residential
- Commercial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
Table of Contents
1. Executive Summary
- 1.1. Global Market Outlook
- 1.2. Demand Side Trends
- 1.3. Supply Side Trends
- 1.4. Analysis and Recommendations
2. Market Overview
- 2.1. Market Coverage / Taxonomy
- 2.2. Market Definition / Scope / Limitations
3. Key Market Trends
- 3.1. Key Trends Impacting the Market
- 3.2. Product Innovation / Development Trends
4. Pricing Analysis
- 4.1. Pricing Analysis, By Smart Electric Heater Type
- 4.2. Average Pricing Analysis Benchmark
5. Global Smart Electric Heaters Market Demand (in Value in US$ Mn) Analysis 2019 - 2023 and Forecast, 2024 - 2031
- 5.1. Historical Market Value (US$ Mn) Analysis, 2019 - 2023
- 5.2. Current and Future Market Value (US$ Mn) Projections, 2024 - 2031
- 5.2.1. Y-o-Y Growth Trend Analysis
- 5.2.2. Absolute $ Opportunity Analysis
6. Market Background
- 6.1. Macro-Economic Factors
- 6.2. Forecast Factors - Relevance & Impact
- 6.3. Value Chain
- 6.4. COVID-19 Crisis - Impact Assessment
- 6.4.1. Current Statistics
- 6.4.2. Short-Mid-Long Term Outlook
- 6.4.3. Likely Rebound
- 6.5. Market Dynamics
- 6.5.1. Drivers
- 6.5.2. Restraints
- 6.5.3. Opportunities
7. Global Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031, By Function
- 7.1. Introduction / Key Findings
- 7.2. Historical Market Size (US$ Mn) Analysis By Function, 2019 - 2023
- 7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Function, 2024 - 2031
- 7.3.1. Smart Climate Control
- 7.3.2. Smart Water Heaters
- 7.4. Market Attractiveness Analysis By Function
8. Global Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031, By End User
- 8.1. Introduction / Key Findings
- 8.2. Historical Market Size (US$ Mn) Analysis By End User, 2019 - 2023
- 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2024 - 2031
- 8.3.1. Residential
- 8.3.2. Commercial
- 8.4. Market Attractiveness Analysis By End User
9. Global Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031, by Region
- 9.1. Introduction / Key Findings
- 9.2. Historical Market Size (US$ Mn) Analysis By Region, 2019 - 2023
- 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2024 - 2031
- 9.3.1. North America
- 9.3.2. Latin America
- 9.3.3. Europe
- 9.3.4. East Asia
- 9.3.5. South Asia Pacific
- 9.3.6. Middle East and Africa
- 9.4. Market Attractiveness Analysis By Region
10. North America Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 10.1. Introduction
- 10.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 10.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 10.3.1. By Function
- 10.3.2. By End User
- 10.3.3. By Country
- 10.3.3.1. U.S.
- 10.3.3.2. Canada
- 10.4. Market Attractiveness Analysis
- 10.4.1. By Function
- 10.4.2. By End User
- 10.4.3. By Country
- 10.5. Market Trends
- 10.6. Key Market Participants - Intensity Mapping
11. Latin America Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 11.1. Introduction
- 11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 11.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 11.3.1. By Function
- 11.3.2. By End User
- 11.3.3. By Country
- 11.3.3.1. Brazil
- 11.3.3.2. Mexico
- 11.3.3.3. Rest of Latin America
- 11.4. Market Attractiveness Analysis
- 11.4.1. By Function
- 11.4.2. By End User
- 11.4.3. By Country
12. Europe Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 12.1. Introduction
- 12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 12.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 12.3.1. By Function
- 12.3.2. By End User
- 12.3.3. By Country
- 12.3.3.1. Germany
- 12.3.3.2. Italy
- 12.3.3.3. France
- 12.3.3.4. U.K.
- 12.3.3.5. Spain
- 12.3.3.6. BENELUX
- 12.3.3.7. Russia
- 12.3.3.8. Rest of Europe
- 12.4. Market Attractiveness Analysis
- 12.4.1. By Function
- 12.4.2. By End User
- 12.4.3. By Country
13. South Asia & Pacific Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 13.1. Introduction
- 13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 13.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 13.3.1. By Function
- 13.3.2. By End User
- 13.3.3. By Country
- 13.3.3.1. India
- 13.3.3.2. Indonesia
- 13.3.3.3. Malaysia
- 13.3.3.4. Singapore
- 13.3.3.5. Australia & New Zealand
- 13.3.3.6. Rest of South Asia and Pacific
- 13.4. Market Attractiveness Analysis
- 13.4.1. By Function
- 13.4.2. By End User
- 13.4.3. By Country
14. East Asia Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 14.1. Introduction
- 14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 14.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 14.3.1. By Function
- 14.3.2. By End User
- 14.3.3. By Country
- 14.3.3.1. China
- 14.3.3.2. Japan
- 14.3.3.3. South Korea
- 14.4. Market Attractiveness Analysis
- 14.4.1. By Function
- 14.4.2. By End User
- 14.4.3. By Country
15. Middle East and Africa Smart Electric Heaters Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 15.1. Introduction
- 15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 15.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 15.3.1. By Function
- 15.3.2. By End User
- 15.3.3. By Country
- 15.3.3.1. GCC Countries
- 15.3.3.2. Turkey
- 15.3.3.3. South Africa
- 15.3.3.4. Rest of Middle East and Africa
- 15.4. Market Attractiveness Analysis
- 15.4.1. By Function
- 15.4.2. By End User
- 15.4.3. By Country
16. Key Countries Analysis- Smart Electric Heaters Market
- 16.1. U.S. Smart Electric Heaters Market Analysis
- 16.1.1. By Function
- 16.1.2. By End User
- 16.2. Canada Smart Electric Heaters Market Analysis
- 16.2.1. By Function
- 16.2.2. By End User
- 16.3. Mexico Smart Electric Heaters Market Analysis
- 16.3.1. By Function
- 16.3.2. By End User
- 16.4. Brazil Smart Electric Heaters Market Analysis
- 16.4.1. By Function
- 16.4.2. By End User
- 16.5. Germany Smart Electric Heaters Market Analysis
- 16.5.1. By Function
- 16.5.2. By End User
- 16.6. Italy Smart Electric Heaters Market Analysis
- 16.6.1. By Function
- 16.6.2. By End User
- 16.7. France Smart Electric Heaters Market Analysis
- 16.7.1. By Function
- 16.7.2. By End User
- 16.8. U.K. Smart Electric Heaters Market Analysis
- 16.8.1. By Function
- 16.8.2. By End User
- 16.9. Spain Smart Electric Heaters Market Analysis
- 16.9.1. By Function
- 16.9.2. By End User
- 16.10. BENELUX Smart Electric Heaters Market Analysis
- 16.10.1. By Function
- 16.10.2. By End User
- 16.11. Russia Smart Electric Heaters Market Analysis
- 16.11.1. By Function
- 16.11.2. By End User
- 16.12. Rest of Europe Smart Electric Heaters Market Analysis
- 16.12.1. By Function
- 16.12.2. By End User
- 16.13. China Smart Electric Heaters Market Analysis
- 16.13.1. By Function
- 16.13.2. By End User
- 16.14. Japan Smart Electric Heaters Market Analysis
- 16.14.1. By Function
- 16.14.2. By End User
- 16.15. South Korea Smart Electric Heaters Market Analysis
- 16.15.1. By Function
- 16.15.2. By End User
- 16.16. India Smart Electric Heaters Market Analysis
- 16.16.1. By Function
- 16.16.2. By End User
- 16.17. Malaysia Smart Electric Heaters Market Analysis
- 16.17.1. By Function
- 16.17.2. By End User
- 16.18. Indonesia Smart Electric Heaters Market Analysis
- 16.18.1. By Function
- 16.18.2. By End User
- 16.19. Singapore Smart Electric Heaters Market Analysis
- 16.19.1. By Function
- 16.19.2. By End User
- 16.20. Australia and New Zealand Smart Electric Heaters Market Analysis
- 16.20.1. By Function
- 16.20.2. By End User
- 16.21. GCC Countries Smart Electric Heaters Market Analysis
- 16.21.1. By Function
- 16.21.2. By End User
- 16.22. Turkey Smart Electric Heaters Market Analysis
- 16.22.1. By Function
- 16.22.2. By End User
- 16.23. South Africa Smart Electric Heaters Market Analysis
- 16.23.1. By Function
- 16.23.2. By End User
- 16.24. Rest of Middle East and Africa Smart Electric Heaters Market Analysis
- 16.24.1. By Function
- 16.24.2. By End User
17. Market Structure Analysis
- 17.1. Market Analysis by Tier of Companies
- 17.2. Market Share Analysis of Top Players
- 17.3. Market Presence Analysis
18. Competition Analysis
- 18.1. Competition Dashboard
- 18.2. Competition Benchmarking
- 18.3. Competition Deep Dive
- 18.3.1. Honeywell International Inc.
- 18.3.1.1. Business Overview
- 18.3.1.2. Product Portfolio
- 18.3.1.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.1.4. Key Strategy & Developments
- 18.3.2. Zehnder Group
- 18.3.2.1. Business Overview
- 18.3.2.2. Product Portfolio
- 18.3.2.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.2.4. Key Strategy & Developments
- 18.3.3. Haier Electronics Group Co., Ltd.
- 18.3.3.1. Business Overview
- 18.3.3.2. Product Portfolio
- 18.3.3.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.3.4. Key Strategy & Developments
- 18.3.4. Mitsubishi Electric Corporation
- 18.3.4.1. Business Overview
- 18.3.4.2. Product Portfolio
- 18.3.4.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.4.4. Key Strategy & Developments
- 18.3.5. A.O. Smith
- 18.3.5.1. Business Overview
- 18.3.5.2. Product Portfolio
- 18.3.5.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.5.4. Key Strategy & Developments
- 18.3.6. Seimens AG
- 18.3.6.1. Business Overview
- 18.3.6.2. Product Portfolio
- 18.3.6.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.6.4. Key Strategy & Developments
- 18.3.7. Danfoss
- 18.3.7.1. Business Overview
- 18.3.7.2. Product Portfolio
- 18.3.7.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.7.4. Key Strategy & Developments
- 18.3.8. Rheen Manufacturing Company
- 18.3.8.1. Business Overview
- 18.3.8.2. Product Portfolio
- 18.3.8.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.8.4. Key Strategy & Developments
- 18.3.9. Glen dimplex
- 18.3.9.1. Business Overview
- 18.3.9.2. Product Portfolio
- 18.3.9.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.9.4. Key Strategy & Developments
- 18.3.10. Others ( as per client request)
- 18.3.10.1. Business Overview
- 18.3.10.2. Product Portfolio
- 18.3.10.3. Profitability by Market Segments (Business Segments/Region)
- 18.3.10.4. Key Strategy & Developments
- 18.3.1. Honeywell International Inc.
19. Assumptions and Acronyms Used
20. Research Methodology
