Smart Electric Heater Market

Smart Electric Heater Market Analysis by Convection Heaters, Radiant Heaters, Infrared Panel Heaters, and Fan Heaters from 2024 to 2034

Analysis of Smart Electric Heater Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Smart Electric Heater Market Outlook (2024 to 2034)

A new study by Fact.MR reveals the global smart electric heater market size is pegged at US$ 1.86 billion for 2024. As per the report, global sales of smart electric heaters are predicted to rise at 13.8% CAGR and reach US$ 6.77 billion by the end of 2034.

Smart electric heaters are equipped with advanced features, including adaptive heating controls and programmable settings. These capabilities help end users optimize their heating schedules depending on their preferences and usage patterns, thereby leading to reduced utility bills and energy savings.

Continuous technological advancements resulted in the development of smart electric heaters with several features, including voice assistants (Google Assistant and Alexa), Wi-Fi connectivity, mobile app controls, smart thermostats, and energy usage monitoring. Great convenience, energy efficiency, and control are offered by these heaters to their respective end users.

Key Market Growth Drivers

  • Increasing popularity of smart homes along with a desire to adopt interconnected devices, is leading to the installation of smart electric heaters. These smart electric heaters are integrated with smart home ecosystems and are compatible with several platforms, including Google Home, Amazon Alexa, and Apple Homekit, which is further predicted to add to the seamless automation experience for consumers.
  • Rising concerns about environmental sustainability are predicted to stimulate more consumers to install smart electric heaters. They offer some eco-friendly features, including adaptive heating, the ability to control energy consumption, and energy-saving modes.

Remote accessibility of smart electric heaters through web interfaces or smartphone applications is estimated to contribute to their convenience. People who want to make adjustments in heating settings during their absence are inclined to adopt these heaters due to their convenience in remote operation.

  • Demand for smart electric heaters in South Korea is predicted to increase at a 16.9% CAGR and reach a market value of US$ 273.5 million by 2034-end.
  • The residential segment is forecasted to hold 58.2% share of the global market revenue by 2034.
  • East Asia is projected to account for 31.5% share of the global market in 2024.

Government incentives and regulations are promoting the adoption of energy-efficient appliances. Tax credits, rebates, and other incentives are offered to consumers for installing energy-efficient appliances.

Report Attributes Details
Smart Electric Heater Market Size (2024E) US$ 1.86 Billion
Forecasted Market Value (2034F) US$ 6.77 Billion
Global Market Growth Rate (2024 to 2034) 13.8% CAGR
North America Market Share (2024E) 37.3%
Canada Market Value (2024E) US$ 127 Million
Japan Market Growth Rate (2024 to 2034) 14.5% CAGR
Convection Heaters Segment Share (2034F) 41.8%
Key Companies Profiled
  • Honeywell International Inc.
  • Zehnder Group
  • V-Guard Industries Ltd.
  • Haier Electronics Group Co., Ltd.
  • A.O. Smith
  • Mitsubishi Electric Corporation
  • Siemens AG
  • Rheen Manufacturing Company
  • Danfoss
  • Glen Dimplex

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Why is Demand for Smart Electric Heaters Increasing Exponentially across the World?

“Technological Advancements Leading to Development of Advanced Electric Heaters”

Constant technological advancements are predicted to contribute to the expansion of the smart electric heater market. Integration of Wi-Fi ensures easy connectivity of smart electric heaters to home networks and enables remote access through tablets and smartphones. This feature enables users to make adjustments in heating settings irrespective of their physical presence, thus ensuring an optimization in energy use.

Smart thermostats in electric heaters come with programmable settings and offer precise temperature control. They can optimize heating cycles as per the preferences of users to maintain a comfortable temperature. In addition, the integration of some popular voice assistants, such as Siri and Google Assistant, allows end users to get control of their heaters through voice commands.

Geofencing technology can easily detect the presence of users using location-based services or GPS. This feature allows smart electric heaters to make adjustments in temperatures based on the proximity of users.

“Smart Electric Heaters Ensuring Energy Efficiency and Cost Savings”

Cost savings and energy efficiency are key pivotal aspects that are forecasted to attract smart electric heater market trends. These smart home heaters enable users to enjoy personalized heating schedules customized as per their daily preferences and routines. These settings enable users to set temperatures as per the outside temperature of the day, thereby optimizing energy consumption.

Some home automation heating solutions provide zoning capabilities, enabling users to heat rooms or specific zones independently. These precise control features enable end users to allocate heat according to specific requirements while avoiding overheating in unoccupied areas. This energy optimization feature of electric heaters is predicted to contribute to their increased adoption.

Smart Electric Heater Market Overview

What’s Predicted to Negatively Impact Smart Electric Heater Market Growth?

“Risk of Cybersecurity Threats Hampering Market Expansion”

Risks associated with cybersecurity threats are predicted to limit the adoption of smart electric heaters. Hackers can get unauthorized access to these smart devices and use them to access other devices connected to the same home network.

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How are Start-ups Projected to Make a Mark in This Market?

“Development of Customized Smart Electric Heaters”

Start-ups can adopt customization as a prominent tool to offer smart electric heaters with minimal energy waste. They can incorporate digital programming to enable users to keep track of their schedules to ensure minimal energy wastage. These systems fit well with LCDs to make programming simple.

Country-wise Insights

Among other regional markets, North America is predicted to hold 38.1% share of the global market by 2034 owing to the rising installation of energy-efficient and smart home heating solutions. Moreover, the presence of some prominent manufacturers in the region is also contributing to smart electric heater market growth.

Why are Smart Electric Heater Suppliers Thriving in the United States?

“Energy Efficiency of Smart Electric Heaters Driving Sales amidst Rising Energy Costs”

Attribute United States
Market Value (2024E) US$ 501.6 Million
Growth Rate (2024 to 2034) 13.7% CAGR
Projected Value (2034F) US$ 1.82 Billion

The United States is estimated to occupy 72.3% share of the regional market revenue in 2024. The energy efficiency of electric heaters is predicted to stimulate their demand in the United States. With the increasing cost of energy in the United States, more Americans are becoming conscious about their energy use. They are opting for ways to minimize their electricity bill.

Incorporation of advanced technologies, including zoning controls and programmable thermostats, optimizes heating use while minimizing energy waste. These heaters are becoming popular among individuals looking for options to reduce their environmental footprints.

Why is China a Key Contributor to the Smart Electric Heater Market Share in East Asia?

“Rising Demand for Smart Electric Heaters Due to Long and Cold Winters”

Attribute China
Market Value (2024E) US$ 360.3 Million
Growth Rate (2024 to 2034) 14.6% CAGR
Projected Value (2034F) US$ 1.41 Billion

China is forecasted to hold 60.4% share of the regional market by 2034. Long cold winters in China are predicted to stimulate the need for appliances to keep apartments cozy. Several areas in the country, especially the Northern parts, experience harsh winters therefore, an increase in the demand for efficient heating solutions is encountered. Thus, cold and long winters in China are predicted to stimulate the adoption of smart electric heaters.

Technologically advanced electric heaters provide a convenient and efficient way to keep apartments and homes warm during the winter. They are specifically designed to improve efficiency with the use of advanced technologies, including occupancy sensors and programmable thermostats, to reduce energy waste and optimize heating use.

Advancements make heaters an attractive option for people looking to reduce their electricity bills while maintaining a comfortable temperature. Further, with increasing population and rising energy prices, demand for convenient and efficient heating solutions is projected to increase.

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Category-wise Insights

A study by Fact.MR, a market research and competitive intelligence provider, mentions that convection heaters are projected to hold 41.8% share of the global market by 2034 owing to their energy-efficient and cost-effective features.

Why is the Demand for Smart Electric Heaters High in Residential Settings?

“Pocket-friendly Prices of Smart Electric Heaters Key Driver”

Attribute Residential Sector
Segment Value (2024E) US$ 1.05 Billion
Growth Rate (2024 to 2034) 15% CAGR
Projected Value (2034F) US$ 3.94 Billion

The residential segment is predicted to hold 58.2% share of the global market revenue by 2034. Cost-effectiveness is one of the key factors that is stimulating demand for smart electric heaters in the residential sector. They are more energy-efficient compared to conventional heating systems. These smart electric heaters come with some advanced features, including remote control capabilities, occupancy sensors, and programmable thermostats.

Smart electric heaters enable end users to monitor their heating preferences based on their usage patterns and needs. This level of automation and control is predicted to help in reducing energy waste, thus minimizing the cost of energy bills. Thus, people who are looking for energy-efficient and affordable heating solutions are adopting smart electric heaters.

Market Players

Manufacturers are collaborating with several IoT (Internet of Things) and information technology providers to offer more efficient products to end users. They are focusing on ensuring quality control of products, effective management of supply chain systems, new developments, and collaborations to get a competitive edge.

Key players in the smart electric heater market are Honeywell International Inc., Zehnder Group, V-Guard Industries Ltd., Haier Electronics Group Co., Ltd., A.O. Smith, Mitsubishi Electric Corporation, Seimens AG, Rheen Manufacturing Company, Danfoss, and Glen Dimplex.

Segmentation of Smart Electric Heater Market Research

  • By Product Type :

    • Convection Heaters
    • Radiant Heaters
    • Infrared Panel Heaters
    • Fan Heaters
  • By End Use :

    • Residential
    • Commercial
    • Industrial
  • By Region :

    • North America
    • Europe
    • East Asia
    • Latin America
    • Middle East & Africa
    • South Asia & Oceania

- FAQs -

What is the size of the smart electric heater market in 2024?

The global smart electric heater market is pegged at US$ 1.86 billion for 2024.

What is the sales value of smart electric heaters in Canada?

Sales of smart electric heaters in Canada are calculated at US$ 127 million for 2024.

What portion of the global market does North America account for?

North America is estimated to account for 37.3% share of the global market in 2024.

What is the contribution of convection heaters to global market revenue?

Convection heaters are predicted to hold 41.8% share of global market revenue in 2024.

At what rate is the demand for smart electric heaters projected to accelerate?

Worldwide demand for smart electric heaters is projected to increase at a prolific CAGR of 13.8% from 2024 to 2034.

What is the sales growth projection for smart electric heaters in Japan?

Sales of smart electric heaters in Japan are predicted to rise at a 14.5% CAGR from 2024 to 2034.

What is the predicted valuation of the global market for 2034?

The global market for smart electric heaters is forecasted to reach US$ 6.77 billion by the end of 2034.

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