Global Heater Market Size, Share, Opportunities, And Trends By Type (Electric Heater, Natural Gas Heater, Radiant Heater, Others), By Application (Cooking, Water Heating, Space Heating & Industrial Processes), By End-User (Residential, Industrial/Commercial), And By Geography - Forecasts From 2023 To 2028

A heater is a tool used to create heat in space or water It can achieve this by utilizing a variety of heat sources. Room heaters A small area can be heated with electricity. They can move air across a system of wires or use infrared to heat objects in space. The water heaters are used to heat water so that it is comfortable to bathe in during the winter. The need for hot water from numerous home activities, such as washing, bathing, cleaning, and cooking, is the primary cause that is expected to boost the demand for heaters which will boost the global heater market growth during the forecasted period.

The growing application in cooking will boost the market growth.

High safety, scalability, and energy efficiency are a few benefits of the electromagnetic heating technique known as induction heating which has long been used in cooking. The heaters technology is used in various appliances of cooking such as electric stoves, microwaves, and induction cooktops. The rising new product launches in cooking appliances are expected to boost the global heater market growth. In October 2022, in India, LG unveiled a new line of microwaves with a charcoal lighting function. In January 2023, GE Appliances Introduces a New Line-Up of Induction Cooktops Full of Connected Brand-Across Capabilities with 14 new induction cooktops from Monogram, CAFÉ, and GE Profile which are helping simplify cooking. Such new product launches of kitchen cooking appliances are expected to boost the global heater market growth during the forecasted period. 

The rising application in industrial processes will boost the market growth

Process heaters are being used in manufacturing industries to increase productivity in a variety of processes, including drying, evaporation, melting, curing, heat treating, and distillation, among others. The growing demand for the heating process will increase due to increasing industrial investment is expected to boost the global heater market growth. In April 2023, according to the U.S. Census Bureau, the total industrial manufacturing investment increased from $91,664 million on February 2022 to $140,667 million in February 2023, showing a huge increase rate of 53.5%. This rising application in the industrial sector with increasing investment is expected to boost the global heater market growth during the forecasted period.

During the forecast period, the Asia-Pacific region will see a boost in market growth

The Asia Pacific region is anticipated to dominate the global heater industry due to increased urbanization, the rapid requirement for heating technologies, new product launches, and increasing heaters manufacturing capacity which will boost the heater market growth. For instance, the operation of a water heater manufacturing facility in India was launched in January 2023 by Hindware Home Innovation, India, and its joint venture partner, Group Atlantic, France. The goal of this Indo-French joint venture was to increase its footprint throughout the nation by producing 600,000 heating and water heater units. In December 2022, Havells introduces the Otto and Orizzonte storage water heater lines in India. The Otto model is offered in three different sizes: 10 liters, 15 liters, and 25 liters, while the Orizzonte model is offered in two sizes: 15 liters and 25 liters. This increasing establishment of heater manufacturing facilities and new product launches will boost the global heater market growth during the forecasted period.

Market Key Developments

• In September 2022, Midea had recently launched its newest line of energy-efficient water heaters. The beautiful VD Series, which features a brand-new practical and small square-shaped design, blends in well with the decor in a room already in use and complements it.
• In January 2022, Borosil introduced the nation's first room heater termed a volcano. The volcano is an oil-filled radiator (OFR) space heater with cutting-edge safety features and a distinctive S-shaped fin design.

Global Heater Market Scope:

Segmentation

• By Type

o   Electric Heater

o   Natural Gas Heater

o   Radiant Heater

o   Others

• By Application

o   Cooking

o   Water Heating

o   Space Heating

o   Industrial Processes

• By End-User

o   Residential

o   Industrial/Commercial

• By Geography

·        North America

o   USA

o   Canada

o   Mexico

·        South America

o    Brazil

o   Argentina

o   Others

·        Europe

o   Germany

o   UK

o   France

o   Spain

o   Others

·        Middle East and Africa

o   Saudi Arabia

o   UAE

o   Others

·        Asia Pacific

o   China

o   Japan

o   South Korea

o   India

o   Australia

o   Others