Europe Electric Wall Heater Market: Industry Analysis and Forecast (2024-2030) by Type, and Application

Europe Electric Wall Heater Market Overview:

The electric wall heater market is fostered by the product's energy-saving characteristics that enable the homeowners to decide the heat produced by adjusting the wattage. Due to swift growth, the increased demand for luxury and accessibility in houses, and quick transforming lifestyles in countries of Europe, like Argentina, Brazil, Uruguay, and Peru, the Electric wall heater market has substantially grown over the last few years. It is expected to grow in 2024- 2030 further.

 

Superiority in terms of energy efficiency, cost, technology, legislation, and ecological awareness, electric wall heaters are being highly sought after over gas-based central heating systems. Innovations in electric heating hold the potential to assist consumers in meeting evolving energy efficiency standards efficiently. The transition from traditional water heating equipment such as burners and boilers to the electric water heater and technological developments in the sector is expected to create lucrative growth opportunities for the key players.

 

 

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Europe Electric Wall Heater Market Dynamics:

Market Drivers:

Broan Corporation introduced a highly advanced electric wall heater in December 2020 called ‘Broan 198 Fan-Forced High-Capacity Wall Heater'. This wall heater is perfect for bathrooms, entryways, or other small areas. It has features including steel- sheathered, plate fined, heavy-duty enclosed heating element providing heat quickly and quietly.

 

Another major key player, King Electric Corporation, also launched EFW Large 240V Wall Heater with model number EFW2440 - MW- W in 2019. This multi-watt wall heater’s functionality depends upon room heating requirements. The built-in safety features automatically disconnect the heating elements and motor when unusually high temperatures are detected. 

 

These various electric heaters companies, producing products with varied features, are much in demand in Europe, especially in areas where the winters are harsh, such as Alaska, Norway, Finland, Iceland, etc.

 

The other essential issues prominent to the evolution of the electric wall heater market in Europe are the growth in manufacturing companies and soaring government regulations regarding cost-effective energy products.

 

Raised income levels, high standards of living, and spending power of the customers in Europe realises the need for compact and friendly electric heaters, for bathrooms and small spaces. Hence, the need for modernized electronics has risen in the region, fueling the growth of the European Electric wall heater market.

 

Market Restraints:

The emergence of the Covid-19 problem in the European market, in areas such as France, Finland, Iceland, Greenland, the UK, etc, significantly disrupted demand for electric wall heaters, putting critical players at risk of losing money.

 

The extensive lockdowns travel bans, and intense supply chain and warehousing disruptions are causing havoc in the market. The pandemic wreaked havoc on the finances of several manufacturing firms in this area. However, this year is bringing progress, as players have grown more active and are using e-commerce to provide a constant supply of items and services to their users, regardless of distance restrictions; hence, the European electric wall heater market is expected to lead to growth in the coming years.

 

Stringent government regulations concerning highly efficient heating equipment and the fast growth of the solar water heating industry hinder the market growth.

 

Europe Electric Wall Heater Market Segment Analysis:

Based on the Application, the Electric wall heaters market is classified into non-residential and residential. European countries are mainly divided into Finland, Greenland, Iceland, the UK, Germany, Ukraine, etc. Customers in Europe are witnessing a steep rise in the spending power and purchasing luxury items; this has caused the residences to use and increasingly adopt the electric wall heaters in light of increased urbanization rates, fast altering lifestyles, and strong demand for comfort features, which led to the residential segment leading the European market. Extensive and harsh weather in the region also leads to increased utilization of heat-producing electronics to increase home comfort.

 

 

The non-residential segment has been witnessing growth in recent years; however, the COVID-19 effect and long-term lockdowns have led to a decrease in the use of Electric wall heaters.

 

Based on Type, the Electric wall heaters market is classified into 1000 Watt, 1000 to 1600 Watt, 1600 to 2000 Watt, and > 2000 Watt.

 

The Coldness in different areas of Europe is different; hence the type in terms of watt of electric wall heaters has vast needs. As a result of the recent trends, increased demand, and climatic changes in various regions of Europe, the need for energy-efficient but large-capacity heaters in commercial and residential applications, the 1000 to 1600-Watt segment has the largest market share. Hence, the European region has increased demand for electric wall heaters ranging from 1000 to 1600 watts.

 

The 1600-2000 Watt type of electric wall heater holds the second-largest share in the European market.

 

Electric Wall Heater Market Regional Insights:

The European Electric Wall Heater Market is divided into the following areas; Finland, Greenland, Iceland, the UK, Germany, Ukraine, etc. Europe is the 2^nd largest consumer of electric wall heaters, market size in 2030 is expected to witness a 7.9 % increase from 2023.

 

The massive number of well-known electric wall heater manufacturers like Nuova Imas, Termet S.A., Tyco Thermal Controls, Remeha etc. Most of these regional players offer cheap-priced and technologically innovative electric wall heaters that help boost their market position and work in favor of the target industry and their needs and wants.

 

Another significant aspect that leads to an increase in the use of electric wall heaters is the developed consumers and increasing Purchasing power of consumers in Europe. With higher income, consumers prefer to purchase luxurious products to suit their requirements at homes and offices, driving the growth of the European Electric Wall Heater Market.

 

The objective of the report is to present a comprehensive analysis of the European Electric Wall Heater Market to the stakeholders in the industry. The report provides the most dominant trends in the European Electric Wall Heater Market and how these trends de influence new business investments and market development throughout the forecast period. The report also aids in comprehending the European Electric Wall Heater Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Europe Electric Wall Heater Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key industry players and their recent developments in the European Electric Wall Heater Market. The report studies the company size, market share, market growth, revenue, production volume, and profits of the key players in the European Electric Wall Heater Market.

 

The report provides Porter's Five Force Model, which helps design the business strategies in the market. The report helps identify how many rivals exist, who they are, and their product quality in the European Electric Wall Heater Market. The report also analyses if the European Electric Wall Heater Market is accessible for a new player to gain a foothold in the market and their entry or exit, and if a few players dominate the market.

 

The report also includes a PESTEL Analysis, which aids in developing company strategies. Political variables help determine how much a government can influence the European Electric Wall Heater Market. Economic variables aid in analyzing economic performance drivers that impact the European Electric Wall Heater Market. Legal factors aid in understanding the impact of the surrounding environment and the influence of environmental concerns on the European Electric Wall Heater Market.

 

Europe Electric Wall Heater Market Scope:

Europe Electric Wall Heater Market
Market Size in 2023	USD 1.25 Bn.
Market Size in 2030	USD 2.13 Bn.
CAGR (2024-2030)	7.9%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Residential Non-Residential
	By Application 1000 Watt 1000-1600 Watt 1600-2000 Watt >2000 Watt
	By State Finland Iceland Greenland UK Germany Ukraine Georgia

 

Europe Electric Wall Heater Market Key Players: 

• TROTEC GmbH
• A.O. Smith
• Atmos
• Bial
• K. TZANOS S. A.
• Nuova Imas
• Termet S.A.
• Tyco Thermal Controls
• Remeha