Electric Wall Heater Market is Estimated to Grow at a 5.80% CAGR Near Future

Electric Wall Heater Market Overview

The electric wall heater market is set to grow at a CAGR of 5.80% during the forecast period from 2022 to 2032. As per the market research report, the market will grow significantly in terms of valuation by the end of 2032. The market growth will be driven by population growth. Based on the research report, rapid urbanization will accelerate growth in the market till 2030. Although concerns regarding safety will have a negative impact on the global electric wall heater market’s growth during this period. 

The availability of alternative solutions is predicted to be a key challenge that could become a strong threat from 2022 to 2032 to companies. The market report published by expert analysts includes primary and secondary data and suggests that application and power segments are anticipated to witness tremendous growth till 2030. Factors such as automation in industries will become key growth drivers during the forecast period and consumers aiming for more convenience are also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by supply chain constraints which could negatively affect activities taking place across the market. The lack of awareness is another challenge the market could face till 2030.

Market Segmentation

The electric wall heater market is segregated into different market segments based on application and power. For a comprehensive analysis of the market, the application and power segments are further split into smaller segments. The application segment is categorized into residential and non-residential. Furthermore, based on power, the global electric wall heater market is also segmented into 1000 to 1600 watt, 1600 to 2000 watt, <1000 watt, and >2000 watt. Based on the market segmentation analysis, the report covers market forecasts.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Electric Wall Heater Market Research Report

Technological advances will support the market growth from 2022 to 2032. As per the market research report, the global market for electric wall heaters is anticipated to grow at a healthy rate across all the application and power segments. However, the presence of active threats such as the low demand from developing countries could hamper the market growth. Business activities across electric wall heaters have also been examined and studied by electric wall heater industry’s experienced analysts. The electric wall heater market research report covers findings with predictions and forecasts till 2030.

Regional Overview

The electric wall heater market, with its product and service-related segments, is spread across the world. Electric wall heater based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. Technological developments are anticipated to be a major factor for growth across the electric wall heater space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The electric wall heater sector-based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Electric wall heater-based businesses in these regional markets are anticipated to grow due to the increasing spending power during the forecast period 2022 to 2030. Although the market’s growth could be affected by unstable raw material prices. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

Electric wall heater-based organizations are profiled in the market research report. The electric wall heater market along with companies and segments has been studied. The analysis of electric wall heater-based businesses is also done to identify key challenges and strengths of these companies. The global electric wall heater market research report covers a SWOT analysis, and Porter’s Five Force analysis of major electric wall heater-related organizations. The strategy and other key details of these companies for the forecast period 2022 to 2030 are covered in the report. The increasing disposable income is anticipated to support the market growth as the market is set to grow at a CAGR of 5.80% and reach a high value by 2030.

Industry News

Service Champions, a supplier of residential HVAC and plumbing services in San Diego, has been purchased by CenterOak Partners' (CenterOak) portfolio firm Service Champions. Since CenterOak completed a majority investment in Service Champion in May 2019, this is the company's sixth acquisition. Phil and Ken Justo, ASI's co-owners, will remain in their current leadership positions and become partners in the merged company. Over the last 18 months, Service Champions has been aggressively growing to gain size and better serve clients in core California regions. The ASI acquisition follows on the heels of our latest East Bay expansion.