North America Oil Filled Electric Heaters Market, By Application (Residential, Commercial), Product (Portable, Fixed), Distribution Channel (Departmental Stores, Specialty Stores, Online, Supermarkets and Hypermarkets, Others) – Industry Trends and Forecast to 2030.
North America Oil Filled Electric Heaters Market Analysis and Size
Given the large number of residential homes and apartments being developed in the region, the residential segment is likely to dominate the market in 2023. Oil-filled electric heaters are extremely effective in tiny, enclosed rooms, making them perfect for household use. Furthermore, oil-filled electric heaters are frequently recommended in residential settings because they do not consume oxygen or reduce humidity production.
The oil filled electric heaters market was valued at USD 39,936.44 thousand in 2022 and is expected to reach USD 62,698.14 thousand by 2030, registering a CAGR of 5.80% during the forecast period of 2023-2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
North America Oil Filled Electric Heaters Market Scope and Segmentation
Report Metric
Details
Forecast Period
2023 to 2030
Base Year
2022
Historic Years
2021 (Customizable to 2015- 2020)
Quantitative Units
Revenue in USD Thousand, Volumes in Units, Pricing in USD
H2 Brands Group (U.S.), NewAir (U.S.), Ningbo Konwin Electrical Appliances Co., Ltd. (China), De’ Longhi Appliances S.r.l. (Italy), Costway.com, Inc. (U.S.), Pelonis Technologies, Inc. (U.S.), Optimus Enterprise, Inc. (U.S.), Lorell Office Furniture (U.S.), Honeywell International Inc. (U.S.), Sencor (U.S.), Glen Dimplex Americas (Ireland), homeleader (China)
Market Opportunities
Growing demand for smart homes and IoT-integration
Market Definition
Electric heaters that are filled with oil are highly popular. Their appeal can be due to aspects such as safety, energy efficiency, and efficacy. They resemble old-fashioned radiators but are much smaller in size. Oil-filled electric heaters are constructed from a series of linked fins or columns. Oil-filled heaters, as opposed to standard radiators, are moveable. These are connected to the household electrical system via a conventional wall socket and may be relocated to any room that need extra warmth. Many even include carry handles, however larger ones normally have wheels to allow for easy repositioning.
North America Oil Filled Electric Heaters Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Rapidly evolving demand for energy-efficient heating solutions
With growing concerns about energy consumption and environmental impact, there is a rising demand for energy-efficient heating solutions. Oil-filled electric heaters offer efficient heat transfer and can help consumers reduce energy costs. This determinant lies in promoting the energy-saving benefits of oil-filled electric heaters as an alternative to traditional heating methods.
Growing popularity due to their beneficial characteristics
Energy efficiency, portability, low maintenance, operational expenses, and installation will all contribute to market expansion. Oil-filled electric heaters use less energy. They are appropriate for electricity savings. Since oil is utilised as a heat reservoir, the space will remain warm even if the heater is turned off. Oil-filled electric heaters are safe for youngsters because their surface does not heat up excessively. Such characteristics, in turn, are expected to boost market growth.
Opportunities
Growing adoption of smart homes and IoT-integration
The increasing popularity of smart homes and the Internet of Things (IoT) presents an opportunity for oil-filled electric heaters to be integrated into these systems. By enabling connectivity and remote control, oil-filled electric heaters can offer enhanced convenience and energy management. This market opportunity lies in developing smart features and compatibility with IoT platforms to attract tech-savvy consumers.
Restraints/Challenges
Complexities associated with oil filled electric heaters derail the growth
Oil-filled electric heaters are difficult to relocate about the house. This is one of the major factors that may limit the global market growth. A dearth of experienced labour, fire safety concerns, and the inability to quickly heat wet areas are all obstacles to the expansion of the market. Additionally, oil-filled electric heaters are costly. Price fluctuations in raw mateirals aggravate the disparities. Product recalls owing to safety concerns are a key limitation on the oil-filled electric heaters market. Fire safety concerns and the difficulty to swiftly heat damp areas are posing significant challenges to the market's expansion.
This oil filled electric heaters market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the oil filled electric heaters market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
In 2021, H2 Band Group announced the launch of its new B2B e-commerce site on Unilog's digital commerce platform in April. As part of the launch of the new e-commerce site, sales professionals can now log in as consumers and assist them in building a cart of recommended items for purchase. The organisation was able to increase its footprint in the ecommerce sector as a result of this.
North America Oil Filled Electric Heaters Market Scope
The oil filled electric heaters market is segmented on the basis of application, product, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
Residential
Commercial
Product
Portable
Fixed
Distribution Channel
Departmental Stores
Specialty Store
Online Supermarkets and Hypermarket
Others
Oil Filled Electric Heaters White Goods Market Regional Analysis/Insights
The oil filled electric heaters market is analyzed and market size insights and trends are provided by application, product, and distribution channel as referenced above.
The countries covered in the oil filled electric heaters market report are U.S., Canada and Mexico in North America.
Given its huge population and increasing adoption of electric space heaters, the United States accounted for the largest proportion of the North America oil filled electric heaters market. Given the region's extreme cold, Canada is the second largest market. Mexico has experienced the third highest growth in the market as a result of rising residential construction.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Oil Filled Electric Heaters Market Share Analysis
The oil filled electric heaters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to oil filled electric heaters market.
Some of the major players operating in the oil filled electric heaters market are:
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
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