Press release
Smart Electric Heater Market is Projected to Increase at a Prolific CAGR of 13.8% from 2024 to 2034
Smart Electric Heater Market
Continuous technological advancements are predicted to lead to the development of advanced electric heaters. These smart electric heaters come with several features, including smart thermostats, voice assistants (Alexa and Google Assistant), and energy usage monitoring.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9143
Smart electric heaters are equipped with some advanced features, including adaptive heating controls to optimize heating schedules based on consumer preferences. In recent years, the rising popularity of smart homes is forecasted to contribute to the increasing adoption of electric heaters.
More individuals are becoming conscious of environmental sustainability. Therefore, a preference for energy-efficient appliances is predicted to stimulate consumers to install smart electric heaters to minimize their environmental footprints. The convenience and remote accessibility of smart electric heaters allow users to monitor their heating systems through web interfaces or smartphone applications.
Key Takeaway from Market Study
Sales of smart electric heaters are estimated at US$ 1.86 billion in 2024.
Worldwide demand for smart electric heaters is predicted to accelerate at a 13.8% CAGR from 2024 to 2034.
The global smart electric heater market is set to reach US$ 6.77 billion by the end of 2034.
North America is estimated to account for 37.3% share of global market revenue in 2024.
Sales of smart electric heaters in Canada are pegged at US$ 127 million in 2024.
The market in Japan is forecasted to advance at a stellar 14.5% CAGR from 2024 to 2034.
Convection heaters are predicted to account for 41.8% share of market revenue by 2034.
Residential Segment to Account for High Demand for Smart Electric Heaters
Demand for smart electric heaters in the residential segment is predicted to increase at a robust CAGR of 15% and reach US$ 3.94 billion by the end of 2034. Increasing preference of consumers for convenient and energy-efficient heating solutions is predicted to contribute to their increased sales in the residential segment. Remote control capabilities, occupancy sensors, and programmable thermostat features of smart electric heaters are projected to make them attractive options among cost-conscious consumers.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9143
Key Market Players
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 are leading manufacturers of smart electric heaters.
In the broader global context, North America is anticipated to command a 38.1% share of the market by 2034, driven by the growing adoption of energy-efficient and smart home heating solutions. Additionally, the presence of prominent manufacturers in the region contributes to the expansion of the smart electric heater market.
Specifically, the United States is projected to dominate the regional market with a 72.3% share of revenue in 2024. The demand for electric heaters in the U.S. is expected to surge due to their energy efficiency, driven by the rising cost of energy. In response to the increasing awareness of energy consumption, Americans are seeking ways to minimize electricity bills.
The integration of advanced technologies, such as zoning controls and programmable thermostats, optimizes heating efficiency while reducing energy waste. These features make electric heaters increasingly popular among individuals seeking options to minimize their environmental impact.
Segment Analysis
The study divulges essential insights into the market based on product type (convection heaters, radiant heaters, infrared panel heaters, fan heaters) and end use (residential, commercial, industrial), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Read More - https://www.globenewswire.com/news-release/2023/11/29/2787747/0/en/Smart-Electric-Heater-Market-to-Rise-at-13-8-CAGR-to-Reach-6-77-Billion-by-2034-Fact-MR-Report.html
About Fact.MR
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.
Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Electric Heater Market is Projected to Increase at a Prolific CAGR of 13.8% from 2024 to 2034 here
News-ID: 3492407 • Views: …
More Releases from Fact.MR
Bioinformatics Market is Growing at a CAGR of 13.4% by 2034 | Fact.MR Report
The latest report on the Bioinformatics Market, projecting robust growth driven by the increasing demand for genomic research, advancements in artificial intelligence (AI), and the rising adoption of precision medicine. Valued at USD 14.29 billion in 2024, the global market is forecast to expand at a compound annual growth rate (CAGR) of 13.4%, reaching USD 50.25 billion by 2034. This significant growth underscores the critical role of bioinformatics in decoding…
Residential Robotic Vacuum Cleaner Market to Reach USD 11.6 Billion by 2033 | Ke …
Fact.MR today released its latest report on the Residential Robotic Vacuum Cleaner Market, projecting robust growth driven by increasing demand for automation, busy lifestyles, and advancements in smart home technologies. Valued at USD 3.0 billion in 2023, the global market is forecast to expand at a compound annual growth rate (CAGR) of 14.4%, reaching USD 11.6 billion by 2033. This significant growth highlights the rising adoption of robotic vacuum cleaners…
Brain-Computer Interface Market is Estimated to Reach USD 6.5 Billion by 2033
The global brain-computer interface (BCI) market was valued at USD 1.6 billion in 2022 and is projected to reach USD 6.5 billion by 2033, growing at a compound annual growth rate (CAGR) of 13.6% from 2023 to 2033. This expansion reflects the increasing adoption of BCI technologies in medical applications, driven by advancements in neuroscience, AI, and sensor technologies. BCIs enable direct communication between the brain and external devices, offering…
Orally Disintegrating Tablet Market is Projected to Reach USD 72.68 Billion by 2 …
The global orally disintegrating tablet (ODT) market is valued at USD 24.45 billion in 2024 and is forecasted to expand at a compound annual growth rate (CAGR) of 11.5%, reaching USD 72.68 billion by 2034. This robust growth is driven by the increasing demand for patient-friendly dosage forms, particularly among the elderly, pediatric, and dysphagic populations, who benefit from ODTs' ease of administration without water and rapid dissolution. ODTs enhance…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
