Global Electric Radiator Market Overview:
As per MRFR analysis, the Electric Radiator Market Size was estimated at 16.17 (USD Billion) in 2022. The Electric Radiator Market Industry is expected to grow from 17.1 (USD Billion) in 2023 to 28.26 (USD Billion) by 2032. The Electric Radiator Market CAGR (growth rate) is expected to be around 5.74% during the forecast period (2024 - 2032).
Key Electric Radiator Market Trends Highlighted
The worldwide electric radiator market seems to have considerable development opportunities due to growing energy efficiency demand and the development of smart homes. Countries are introducing tough energy standards, and this provokes consumers to look for heating devices that use less energy. Electric radiators guarantee accurate heating control, require minimal maintenance and are easy to install, making them perfect substitutes for conventional heating systems. Smart technologies have also increased the versatility of electric radiators as they can be monitored on the network, set schedules or be voice-controlled. However, many customers are interested in how to enhance their internal heating experience. More customized solutions for heating and the increasing number of internet-linked devices are propelling the market growth.
Improvements in the electric radiator games have also seen developments such as advanced energy conservations like peak load cutting as well as utilising self-adaptive algorithms. These concepts are said to help decrease operational expenditures while at the same time assisting in reducing harmful effects on nature. In addition, suppliers are interested in designing effective forms and colors of products that will be appropriate for modern interiors. It is envisaged that the electric radiator market will continue to improve as energy efficiency, smart features, and attractive design are properly combined.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Radiator Market Drivers
Rising Energy Efficiency Standards
The implementation of tighter energy efficiency standards for buildings aimed at reducing carbon emissions and promoting sustainable practices throughout the whole world has resulted in an increase in demand for energy-efficient heating options. Hence, electric radiators, which are known for their high energy efficiency compared to other heating systems, have become increasingly popular for homeowners and business owners who wish to comply with the guidelines.Additionally, electric radiators are beneficial because the price of fossil fuels is likely to rise in the future, which means that they will be more economically viable than other heating systems.
Increasing Demand for Smart Home Devices
The growing popularity of smart home devices is driving the demand for electric radiators with smart features. Consumers are increasingly seeking convenient and automated solutions for managing their home environment, including heating. Electric radiators with smart features, such as remote control, scheduling, and integration with home automation systems, provide users with greater control and convenience over their heating. This trend is expected to continue as smart home technology becomes more prevalent.
Growing Popularity of Electric Heating in Commercial Buildings
Electric heating is becoming more and more popular in commercial buildings because of its energy-efficient and space-saving design, as well as ease of installation. Electric radiators are very suitable for commercial buildings for the mentioned reasons, and also because they can be easily incorporated into the existing electrical installation. Commercial buildings have a growing demand for energy-efficient and environmentally friendly products, and as a result, this tendency will likely lead to a wider use of electric radiators in commercial applications.
Electric Radiator Market Segment Insights:
Electric Radiator Market Product Design Insights
The Electric Radiator Market is divided by product design and includes panel radiators, convector radiators, infrared radiators, oil-filled radiators, and fan heaters. Panel radiators are expected to dominate the market in the coming years, largely due to their energy efficiency and modern design. The market for panel radiators is estimated to reach a value of USD 9.5 billion by 2028, growing at a CAGR of 5.8% from 2023 to 2028. Meanwhile, the market for convector radiators, which also accounts for a large share of the Electric Radiator Market, is expected to reach a value of USD 4.2 billion by 2028, growing at a CAGR of 5.6% from 2023 to 2028.Convector radiators are affordable, easy to install, and work by heating the air that moves through them, creating a convection. Infrared radiators, which are expected to reach a value of USD 3.1 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028, operate by emitting radiation that heats nearby objects and surfaces. As a result, the technology provides targeted heating and increases energy efficiency. Oil-filled Electric Radiator Market is estimated to reach a value of USD 2.7 billion by 2028, growing at a CAGR of 5.4% from 2023 to 2028.These traditional radiators have oil that serves as a heat transfer medium and heats the room to the desired temperature. Their appeal to consumers is primarily due to their low cost and longer lifespan. Finally, the market for fan heaters, which are portable electric radiators with a fan that blows warm air to objects or places in the vicinity. As a result, the technology is also ideal for local heating. The market for these heaters is expected to reach a value of USD 1.9 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028. Overall, the market growth of electric radiators is driven by increased urbanization, higher energy prices, and growing interest in energy efficiency.At the same time, the demand for smart electric radiators that can be remote-controlled and programmed is growing as consumers want convenience and flexibility.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Radiator Market Mounting Type Insights
The Electric Radiator Market is segmented by mounting type into wall-mounted, floor-standing, ceiling-mounted, and portable. Among these, the wall-mounted segment held the largest market share in 2023, accounting for 45.3% of the global revenue. This is attributed to the increasing popularity of wall-mounted electric radiators due to their space-saving design, ease of installation, and ability to blend seamlessly with any room décor. The wall-mounted segment is also expected to witness the highest growth rate during the forecast period, owing to the growing demand for energy-efficient and aesthetically appealing heating solutions.The floor-standing segment is projected to be the second largest segment, capturing a 32.1% share of the global market in 2023. Floor-standing electric radiators are preferred for their portability and versatility, making them suitable for both residential and commercial applications. The ceiling-mounted segment is anticipated to experience a steady growth rate over the forecast period, driven by the increasing adoption of electric radiators in industrial and commercial buildings where overhead heating is required. The portable segment, which accounted for 15.2% of the global revenue in 2023, is expected to witness moderate growth during the forecast period.Portable electric radiators are ideal for temporary or occasional heating needs, making them popular in rental properties, student accommodations, and vacation homes.
Electric Radiator Market Output Rating Insights
The output rating segment plays a crucial role in shaping the Electric Radiator Market landscape. In 2023, the "Up to 1,000 W" segment held a significant market share, owing to its affordability and suitability for small spaces. However, the "1,001-2,000 W" segment is projected to witness substantial growth during the forecast period (2023-2032), driven by rising demand for energy-efficient and higher-output radiators in residential and commercial buildings. The "2,001-3,000 W" segment caters to industrial and heavy-duty applications and is expected to experience a steady growth rate.The "Over 3,000 W" segment, though relatively niche, finds application in specialized industrial settings and is anticipated to exhibit moderate growth over the coming years.
Electric Radiator Market Smart Features Insights
Wi-Fi Enabled, Temperature Control, Programmable Timers, and Voice Control comprise the Smart Features segment, projected to rake in USD 3.34 Billion by 2024, growing at a moderate 5.4% CAGR. Wi-Fi Enabled accounts for the highest revenue share, thanks to the growing integration of IoT in home appliances and consumer demand for remote control and monitoring of devices. Programmable Timers follow, with consumers seeking energy-efficient solutions that automate heating schedules. Temperature Control allows users to set and maintain desired temperatures for optimal comfort and energy savings, making it a popular feature.Voice Control, driven by the rise of smart home assistants, offers hands-free operation and personalization, contributing to the segment's growth. This segment caters to tech-savvy consumers seeking convenience, energy efficiency, and enhanced user experience, shaping the future of electric radiators.
Electric Radiator Market Application Insights
The Electric Radiator Market segmentation by Application is divided into Residential, Commercial, and Industrial. Among these segments, the Residential segment is expected to hold the largest market share in 2023, owing to the increasing demand for energy-efficient heating solutions in homes. The Commercial segment is also expected to witness significant growth during the forecast period due to the growing adoption of electric radiators in offices, retail stores, and other commercial buildings. The Industrial segment is expected to have a steady growth rate, as electric radiators are used in a variety of industrial applications, such as warehouses and factories.Overall, the Electric Radiator Market is expected to witness steady growth in the coming years, driven by the increasing demand for energy-efficient heating solutions in various applications.
Electric Radiator Market Regional Insights
The Electric Radiator Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2024, owing to the increasing adoption of smart home devices and the growing demand for energy-efficient heating solutions. Europe is also expected to witness significant growth in the coming years, driven by the rising awareness of energy efficiency and the presence of stringent government regulations. APAC is projected to be the fastest-growing region, with China and India emerging as key markets.The growing construction industry and the increasing disposable income of consumers in these countries are contributing to the growth of the electric radiator market in APAC. South America and MEA are expected to witness a steady growth rate, driven by the increasing demand for energy-efficient heating solutions and government initiatives to promote the adoption of renewable energy sources.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Radiator Market Key Players And Competitive Insights:
Major players in the Electric Radiator Market are striving to gain a competitive edge by developing innovative products and expanding their distribution networks. The market is witnessing a rise in mergers and acquisitions as companies seek to consolidate their position. Leading Electric Radiator Market players are focusing on expanding their product portfolios and investing in research and development. The Electric Radiator Market industry is highly competitive, with key players accounting for a significant share of the market. These companies are constantly innovating and introducing new products to meet the evolving needs of customers. The Electric Radiator Market is expected to witness significant growth in the coming years, driven by increasing demand for energy-efficient heating solutions.A leading company in the Electric Radiator Market, Schneider Electric is known for its wide range of innovative products and strong distribution network. The company offers a variety of electric radiators, including panel radiators, towel rails, and designer radiators. Schneider Electric has a strong presence in Europe and North America, and is also expanding its reach in Asia-Pacific. The company is committed to providing high-quality products and excellent customer service.A competitor company in the Electric Radiator Market, Glen Dimplex, is known for its energy-efficient products and innovative designs. The company offers a wide range of electric radiators, including convection radiators, radiant radiators, and oil-filled radiators. Glen Dimplex has a strong presence in Europe and North America, and is also expanding its reach in Asia-Pacific. The company is committed to providing stylish and affordable electric radiators.
Key Companies in the Electric Radiator Market Include:
- Dimplex
- Atlantic
- AEG
- Vaillant
- Haverland
- Heatstream
- Homebase
- De Dietrich
- Ariston Thermo
- Nobo
- Ferroli
- Screwfix
- Baxi
- Viessmann
Electric Radiator Market Industry Developments
The Electric Radiator Market is projected to grow from USD 17.1 billion in 2023 to USD 28.26 billion by 2032, exhibiting a CAGR of 5.74% during the forecast period. The market growth is primarily driven by rising energy efficiency concerns, growing demand for smart home devices, and increasing construction activities in emerging economies.Recent news developments include the launch of new energy-efficient models by leading manufacturers such as Glen Dimplex and De'Longhi. Furthermore, the integration of smart features such as Wi-Fi connectivity and voice control is gaining traction, enhancing the user experience and convenience.In terms of regional markets, Asia Pacific is expected to hold the largest share due to rapid urbanization, increasing disposable income, and favorable government policies promoting energy efficiency. Europe is another significant market driven by stringent energy regulations and growing consumer awareness about environmental sustainability. North America is also witnessing steady growth due to rising demand for home automation and smart home devices.
Electric Radiator Market Segmentation Insights
Electric Radiator Market Product Design Outlook
- Panel Radiators
- Convector Radiators
- Infrared Radiators
- Oil-Filled Radiators
- Fan Heaters
Electric Radiator Market Mounting Type Outlook
- Wall-Mounted
- Floor-Standing
- Ceiling-Mounted
- Portable
Electric Radiator Market Output Rating Outlook
- Up to 1,000 W
- 1,001-2,000 W
- 2,001-3,000 W
- Over 3,000 W
Electric Radiator Market Smart Features Outlook
- Wi-Fi Enabled
- Temperature Control
- Programmable Timers
- Voice Control
Electric Radiator Market Application Outlook
- Residential
- Commercial
- Industrial
Electric Radiator Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
16.17 (USD Billion) |
| Market Size 2023 |
17.1 (USD Billion) |
| Market Size 2032 |
28.26 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.74% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Dimplex, Atlantic, AEG, Vaillant, Haverland, Heatstream, Homebase, De Dietrich, Ariston Thermo, Nobo, Ferroli, Screwfix, Baxi, Viessmann |
| Segments Covered |
Product Design, Mounting Type, Output Rating, Smart Features, Application, Regional |
| Key Market Opportunities |
Energy efficiency smart home integration growing construction increasing disposable income ecommerce expansion. |
| Key Market Dynamics |
Increasing energy efficiency rising consumer awareness government incentives technological advancements growing construction sector |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Electric Radiator Market is anticipated to be valued at approximately USD 17.1 billion in 2023.
The Electric Radiator Market is estimated to expand at a CAGR of 5.74% from 2024 to 2032.
The Electric Radiator Market is expected to reach a valuation of approximately USD 28.26 billion by 2032.
The North America region is projected to lead the Electric Radiator Market, contributing a significant share of the overall revenue.
Factors such as rising energy efficiency regulations, increasing adoption of smart home devices, and growing consumer preference for eco-friendly heating solutions are driving the market's growth.
Key players in the Electric Radiator Market include Glen Dimplex, DeLonghi, Honeywell, and Haverland.
The residential segment is anticipated to hold the largest share of the Electric Radiator Market, driven by increasing demand for energy-efficient heating solutions in homes.
The Electric Radiator Market is projected to grow at a steady pace over the next five years, with a CAGR of approximately 5.74%.
Challenges include intense competition from traditional heating systems, fluctuating raw material prices, and technological advancements in alternative heating solutions.
Emerging technologies like IoT and smart home integration are anticipated to enhance the functionality and convenience of electric radiators, potentially driving market growth.
