Smart Room Heaters Market Size, Share, Growth, and Industry Analysis by Type (Smart Room Heaters without Connectivity and Smart Room Heaters with Connectivity) By Application (Specialty Retailers, Department Stores, Hypermarkets and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 22 April 2024

Smart Room Heaters Market Report Overview

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The global smart room heaters market size was USD 703.3 million in 2022 and is expected to reach USD 3411.73 million in 2031, exhibiting a CAGR of 19.2% during the forecast period. 

The smart room heaters market refers to the industry that deals with the production, distribution, and sale of intelligent or technologically advanced heating devices designed for residential or commercial spaces. These heaters incorporate smart features and connectivity options that enhance their functionality, efficiency, and user experience.

Smart room heaters typically utilize advanced sensors, wireless connectivity, and smart controls to provide optimal heating solutions while minimizing energy consumption. They can be controlled remotely through smartphone applications or integrated with smart home systems, allowing users to adjust settings, monitor energy usage, and automate heating schedules. The smart room heaters market includes a range of products offered by various manufacturers, including portable electric heaters, wall-mounted heaters, and energy-efficient radiator heaters. The market is competitive, with both established companies and new entrants focusing on product innovation, energy efficiency, and enhanced connectivity features to gain a competitive edge.

COVID-19 Impact: Supply Chain Disruptions to Challenge the Market Demands

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

The pandemic created disruptions in global supply chains, affecting the production and availability of various consumer goods, including smart room heaters. Lockdowns, travel restrictions, and factory closures impacted the manufacturing, distribution, and delivery of these products. Consequently, some customers faced delays in receiving their orders or experienced limited product options. The economic impact of the pandemic, including job losses and financial uncertainties, influenced consumer spending patterns. While some people sought cost-effective heating solutions, others may have delayed or reduced their expenditure on non-essential items, including smart room heaters. The overall market growth was thus influenced by the economic conditions prevailing in different regions.

LATEST TRENDS

"Integration of AI and Machine Learning to Augment the Market Growth"

Some smart room heaters now come with built-in air purifiers and filtration systems. These features help to improve indoor air quality by removing pollutants, allergens, and odors from the air. This combination of heating and air purification makes smart room heaters more versatile and appealing to health-conscious consumers. Advanced smart room heaters are incorporating artificial intelligence (AI) and machine learning (ML) algorithms to learn users' preferences and optimize heating patterns accordingly. These algorithms analyze data such as occupancy, temperature settings, and weather forecasts to automatically adjust heating levels and create personalized heating schedules.

Smart Room Heaters Market Segmentation

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• By Type Analysis

By type, market is segmented into smart room heaters without connectivity and smart room heaters with connectivity. The smart room heaters without connectivity type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into specialty retailers, department stores, hypermarkets and others. The specialty retailers’ segment will lead the global share through 2028.

DRIVING FACTORS

"Integration with Smart Home Systems to Push the Market"

Smart room heaters often employ advanced heating technologies, such as infrared, ceramic, or oil-filled radiators, that offer efficient heat distribution and reduce energy consumption compared to traditional heaters. With smart connectivity, users can easily control and monitor their heaters remotely, adjust temperature settings, and schedule heating patterns from their smartphones or other connected devices. Smart room heaters can be integrated into larger smart home ecosystems, enabling seamless automation and synchronization with other smart devices, such as thermostats, voice assistants, or occupancy sensors.

"Energy Management and Cost Savings to Boost the Market Demands"

The ability to monitor energy consumption and optimize heating schedules helps users save on energy bills and reduce their carbon footprint. Smart room heaters often incorporate advanced safety features like tip-over protection, overheating detection, and child lock functions, ensuring a safe heating experience. The increasing adoption of smart home technologies and the growing trend toward home automation contribute to the demand for smart room heaters. Governments across the world are promoting energy-efficient solutions, and incentives and regulations related to energy conservation drive the adoption of smart heating systems.

RESTRAINING FACTORS

"Market Fragmentation and Competition to Slow the Market Growth "

While smart room heaters may offer certain energy-saving features, their overall energy efficiency may not be significantly different from traditional room heaters. Consumers may be less motivated to switch to smart heaters if the cost savings on energy bills are not substantial. Regulatory requirements and standards for smart home devices can vary across different regions. Compliance with these regulations may involve additional costs and complexities for manufacturers, impacting the availability and affordability of smart room heaters in certain markets. The smart home industry is characterized by a large number of players, including both established brands and new entrants. The market fragmentation and intense competition can make it challenging for individual smart room heater manufacturers to differentiate their products and gain a significant market share.

Smart Room Heaters Market Regional Insights

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"North American Market to Grow Exponentially with the Forecasted Period"

North America has been one of the key regions driving the smart room heaters market. The increasing focus on energy-efficient heating solutions and the growing adoption of smart home technologies have contributed to the market growth in this region. Additionally, the colder climates in some parts of North America have created a demand for efficient and connected heating devices.

The Asia Pacific region is witnessing rapid growth in the smart room heaters market. The rising disposable incomes, urbanization, and changing lifestyles in countries like China, India, and Japan have fueled the demand for smart home appliances, including smart room heaters. The increasing awareness about energy conservation and the need for efficient heating solutions are also driving the market in this region.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• De'Longhi (Italy)
• Honeywell International (U.S.)
• Crane USA (U.S.)
• Jarden Consumer Solutions (U.S.)
• Lasko Products (U.S.)
• Dyson (UK.)
• American Comfort (U.S.)
• Dr. Infrared Heater (U.S.)
• Sunheat International (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.