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Smart Electric Heaters Market

Global Market Study on Smart Electric Heaters: Adoption to Increase at a Meteoric Pace in Europe in the Coming Years

Smart Electric Heaters Market by Function (Smart Climate Control and Smart Water Heaters)

Smart Electric Heaters Market Outlook (2023 to 2033)

The Market for Smart Electric Heaters was valued at US$ 675.4 Million in 2022, and it is anticipated to have grown to US$ 3,290.7 Million by the end of 2033. The market for smart electric heaters is estimated to evaluate to US$ 770.0 Million in 2023 and is estimate to grow at a CAGR of 15.6% from 2023 to 2033.

Smart electric heaters are devices that use advanced technology to heat a room more efficiently and effectively than traditional electric heaters. The smart electric heaters consist of 2% share of the smart home equipment market.

They are often equipped with features like Wi-Fi connectivity, programmable thermostats, and energy-saving modes that allow users to control their heating preferences remotely through a mobile app or voice command. Some models can also learn user behavior and adjust heating settings automatically to maintain a comfortable temperature while conserving energy.

Smart electric heaters come in different types, including convection, radiant, and fan-forced heaters, each with unique features and benefits. They can be used in homes, offices, and other indoor spaces to supplement central heating or as the primary heating source in smaller areas. Overall, smart electric heaters offer a more convenient and eco-friendly way to keep indoor spaces warm during cold weather, while saving energy and reducing utility bills.

The smart electric heaters market in North America held 28.5% which is the uppermost market share in the worldwide landscape in 2022 and is projected to retain its position within the forecast period. The demand for smart electric heaters in the Europe region it held around 20.2% of the market in 2022.

Smart Electric Heaters Market Size (2023)

US$ 770.0 Million

Projected Market Value (2033)

US$ 3,290.7 Million

Global Market Growth Rate (2023 to 2033)

15.6%

Smart Climate Control Market Share (2022)

69.3%

India Market Growth Rate (2023 to 2033)

17.0%

Residential User Market CAGR (2022)

17.7%

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What Restraints Will Act as Hurdle for the Growth of Smart Electric Heaters Market?

The Risk of Cybersecurity Threats will hamper the Smart Electric Heaters market”

The risk of cybersecurity threats is a potential challenge for the smart electric heaters market. As with any internet-connected device, there is a risk of hackers gaining unauthorized access to the device and potentially using it to gain access to other devices on the home network.

This risk can be mitigated by implementing strong security measures, such as using complex passwords and keeping software up-to-date with the latest security patches. However, not all consumers may be aware of these measures or may not take them seriously, which could leave them vulnerable to cyber-attacks.

  • In April 2022, The Zehnder Group has announced the procurement of Filtech, the company that develops, manufactures and distributes high-quality air filters and core component of high indoor air quality.
  • In February 2020, Haier has announced the introduction of new products across various categories along with the plans to forefront the IoT era in the home appliances business. expanding its selection of products in key categories like LED TVs, washing machines, refrigerators, and air conditioners, among others.
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Why is Demand for Smart Electric Heaters Increasing Across United States?

“The Smart Electric Heaters are energy efficient that will boost the Demand for Smart Electric Heaters market in United States”

The energy efficiency of smart electric heaters is one of the key factors driving the demand for these products in the United States. As energy costs continue to rise in United States, consumers are becoming increasingly conscious of their energy usage and are looking for ways to reduce their energy bills.

Smart electric heaters are designed to be highly energy-efficient, using advanced technologies such as programmable thermostats, occupancy sensors, and zoning controls to optimize heating usage and reduce energy waste.

This makes them an attractive option for consumers who want to save money on their energy bills while also reducing their environmental footprint. As a result, the demand for smart electric heaters in the United States is expected to continue to grow in the coming years.

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What Factors Allow India to Be a Major Market for Smart Electric Heaters?

“The Increasing Urbanization in India Will Boost the Smart Electric Heaters Market”

The increasing urbanization in India is expected to boost the demand for smart electric heaters in the country. As more people move to urban areas, there is a growing demand for compact and convenient home appliances that are easy to use and maintain. Smart electric heaters are designed to be portable and easy to install, making them an attractive option for urban consumers who may not have access to central heating systems or may have limited space in their homes.

In addition, urban areas in India are often densely populated and have high levels of air pollution, which can make it difficult to maintain good air quality indoors. Smart electric heaters can help address this issue by providing a clean and efficient source of heat that does not produce harmful emissions or pollutants.

Overall, the increasing urbanization in India is expected to drive the growth of the smart electric heater market in the country, as more consumers seek out convenient, cost-effective, and energy-efficient heating solutions for their homes.

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What Factors Is Allowing Smart Electric Heaters to Grow in China?

“The Long Cold Winters in the China That Will Boost the Smart Electric Heaters Market

One of the key factors driving the growth of the smart electric heater market in China is the country's long and cold winters.

China experiences harsh winters in many regions, particularly in the northern parts of the country, and there is a high demand for effective heating solutions during these months. Smart electric heaters offer an efficient and convenient way to keep homes and apartments warm during the cold winter months.

They are designed to be highly efficient, using advanced technologies such as programmable thermostats and occupancy sensors to optimize heating usage and reduce energy waste. This makes them an attractive option for consumers looking to save on their energy bills while still maintaining a comfortable temperature indoors.

Overall, the long and cold winters in China will boost the demand for smart electric heaters in the country. As the population continues to grow and energy costs rise, the demand for efficient and convenient heating solutions is expected to continue to increase, further boosting the smart electric heater market in China. The Chinese market has highest CAGR of 20.8% during forecasted period.

Category-wise Insights

What Are Different Factors Allow Smart Climate Control in Smart Electric Heaters to Dominate the Market?

“Easy Integration with Smart Home Systems Will Drive the Demand for Smart Electric Heaters Market”

The smart electric heaters that can be integrated with other smart home systems, such as voice assistants or home automation platforms, offer a higher level of convenience and flexibility for users.

The users can easily control their smart electric heaters using voice commands or through their smartphone apps and they can also automate their heating preferences based on their daily routines and occupancy patterns. Additionally, integration with smart home systems can also enhance the energy efficiency of smart electric heaters.

By integrating with other smart home devices such as occupancy sensors, smart electric heaters can adjust their heating patterns based on occupancy levels and avoid heating empty rooms, thereby reducing energy waste and lowering energy bills.

Overall, the ability of smart electric heaters to integrate with other smart home systems is a key selling point for consumers, and it is expected to drive the demand for smart electric heaters in the market. As more and more homes adopt smart home technologies, the demand for smart electric heaters that can seamlessly participate with systems is expected to grow.

What Factors are influencing the Demand for Residential End-User in Smart Electric Heaters market?

“The Cost efficiency of Smart Electric Heaters Will Boost the Smart Electric Heaters Market”

The cost efficiency of smart electric heaters is one of the key factors driving the growth of the smart electric heaters market. Compared to traditional heating systems, smart electric heaters are often more energy-efficient and cost-effective in the long run, leading to significant cost savings for consumers.

The smart electric heaters typically come with advanced features such as programmable thermostats, occupancy sensors, and remote control capabilities, which enable users to easily adjust and monitor their heating preferences based on their needs and usage patterns. This level of control and automation can help reduce energy waste and lower energy bills, making smart electric heaters an attractive option for cost-conscious consumers.

Overall, the cost efficiency of smart electric heaters is a key driver of demand in the market, particularly among residential and small business users who are looking for affordable and energy-efficient heating solutions.

As the market for smart electric heaters continues to grow, it is expected that cost efficiency will continue to be a key factor influencing consumer adoption and market growth. The residential user has highest CAGR of 17.7% during projected period.

Competitive Landscape

The companies from the smart electric heaters market are collaborating with the various other information technology and IOT service provider companies to provide better quality and enhanced products to consumers.

  • In March 2023, the acquisition's successful conclusion strengthens Danfoss' status as a leading supplier of environmentally friendly cooling and heating solutions. The acquisition's successful conclusion strengthens Danfoss status as a leading supplier of environmentally friendly cooling and heating solutions.
  • In February 2023, Rheem is introducing Maximus, a high-efficiency water heater with a powerful, effective burner. Maximus lowers energy consumption and carbon emissions by up to thirty six percent and NOx emissions by up to seventy five percent, and it comes in hundred percent recyclable packaging.

Recent developments related to key players providing smart electric heaters market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Smart Electric Heaters Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • Israel
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Function
  • End User
  • Component
  • Region

Key Companies Profiled

Pricing

Available upon Request

Key Segments of Smart Electric Heaters Market Industry Research

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

- Companies Covered in This Report -

  • 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)

- Frequently Asked Questions -

In 2022, the market value smart electric heaters were US$ 675.4 Mn.

The global smart electric heaters market is estimated to advance at 15.6% CAGR through 2033.

The market for smart electric heaters is forecasted to climb to US$ 3,290.7 Mn by 2033 end.

Demand for smart electric heaters market in China is projected to rise at a CAGR of 20.8% over the forecast period.

In 2022, the North America smart electric heaters market held a dominant market share of 28.5%.

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