Global Domestic Heating Appliances Market Report and Forecast 2024-2032

Global Domestic Heating Appliances Market Outlook

The global domestic heating appliances market is expected to grow at a CAGR of 5.30% between 2024 and 2032. Key market drivers are growing economies, improvement in living standards, and increasing demand for cost effective heating systems.

Key Trends in the Market

Domestic heating appliances are devices used to produce heat to accomplish specified tasks, either in residences, or commercial establishments. They include hot-tube furnaces, heaters, radiators, electric heaters, and others. Infrared heaters are among the lowest costing heaters and are widely used at homes for heating rooms during winters.

• Increase in demand for efficient heating appliances replacing traditional heating appliances has paved the way for technological advancements which are contributing to the overall market growth.

• Industries manufacturing heating appliances are growing in both developing and developed countries because of high demand of the products especially in the urban areas. This has led to the growth of the domestic heating appliances market.

• Consumers are readily accepting the appliances that involve less maintenance and low cost which has motivated the manufacturers to innovate the technology and produce best products at minimum cost helping in the growth of the market.

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Market Analysis

Based on type, the market is segmented into electric storage heating radiators, soil heating, non-electric heaters, and electric heating resistors. On the basis of end use, the market is bifurcated into residential and commercial. By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global domestic heating appliances market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Panasonic Corporation

• AB Electrolux

• Gree Electric Appliances, Inc.

• General Electric Company

• LG Electronics

• BSH Hausgerate GmbH

• Honeywell International Inc.

• Glen Dimplex Group

• Fimaco SDN BHD

• Clatronic International GmbH

• Others

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Market Share by End Use

The increase in income and population has altogether increased the demand for heating appliances in the residential segment. Some of the daily use appliances such as gas stove and water heaters have high demand in the market helping in the growth of the market. Industries are growing day by day, such as mining industries, that have extensive utilisation of heating devices, contributing to the growth of the domestic heating appliances market.

Market Share by Region

The demand for domestic heating appliances from residences is significantly higher in regions with cooler temperatures, including North America and Europe, whereas general appliances for cooking and other purposes are used worldwide.

North America holds a sizable segment of the domestic heating appliances market, led by the United States, with significant demand for domestic heating appliances for cooking and heating of homes. In Europe, Germany holds a large segment of the market, due to extensive heating requirements. The demand for domestic heating appliances is rising in the Asia Pacific, driven by vast populations and increasing standards of living and disposable incomes.

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Competitive Landscape

Panasonic Corporation founded in 1918 has its headquarter in Osaka, Japan. They produce home appliances, services for stores and offices, and housing equipment. Recently, they have been working towards manufacturing products that aid in the reduction of CO2 emissions for a sustainable future.

LG Electronics Inc., based out of Seoul, South Korea, was established in 1958. It is a global leader in manufacturing and exporting commercial products including, home appliances, TVs, service robots, monitors, and air solutions.

AB Electrolux founded in 1919 has its headquarter located in Stockholm, Sweden. It is an appliance manufacturing company that supplies its products globally. They believe in transforming the market by following trends and sustainable goals for a better future.

Other market players include Gree Electric Appliances, Inc., General Electric Company, BSH Hausgerate GmbH, Honeywell International Inc., Glen Dimplex Group, Fimaco SDN BHD, Clatronic International GmbH, and others.

Key Highlights of the Report