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

South America 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 South America, 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.

 

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.

 

 

To get more Insights: Request Free Sample Report

 

South America Electric Wall Heater Market Dynamics:

Market Drivers:

The electric wall heater manufacturing in the South America is deep-seated and has been developing at a considerable speed in the past few years. The other essential issues prominent to the evolution of the electric wall heater market in South America are the growth in manufacturing companies, soaring government regulations regarding cost-effective energy products, and severe weather situations.

 

Electric wall heaters take up less space than other heaters, making them ideal for small spaces like bathrooms and kitchens. This has raised the income levels, standards of living, and spending power of the customers in South America. Hence, the need for modernized electronics has risen in the region, fueling the growth of the South American Electric wall heater market.

 

Market Restraints:

The emergence of the Covid-19 problem in the South American market significantly disrupted demand for electric wall heaters, putting critical players at risk of losing money. There has been extensive lockdowns, travel bans, and supply chain disruptions, 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 South American 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.

 

South America Electric Wall Heater Market Segment Analysis:

Based on the Application, the Electric wall heaters market is classified into non-residential and residential. South American countries are mainly divided into the USA, Canada, Brazil, etc.

Customers in the South America 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 South American 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, 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 South America is different; hence the type in terms of watt of electric wall heaters has vast needs. The coldest temperature in Argentina ever recorded was -32.8 degrees Celsius, whereas the lowest temperature officially recorded in Brazil was -14 °C. The degree of heat required in these two regions is different.

 

As a result of the recent trends and increased demand for energy-efficient but large-capacity heaters in commercial and residential applications in South America, the 1000 to 1600-Watt segment has the largest market share.

 

Hence, demand for electric wall heaters with capacities ranging from 1000 to 1600 watts has increased in the South American region.

 

Electric Wall Heater Market Regional Insights:

The South American Electric Wall Heater Market is divided into the following areas; Argentina, Brazil, Peru, Chile, and Uruguay.

 

South America is the 3^rd largest consumer in 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 INGETEAM LTDA, Scania Latin America LTDA, S&P Chile, Primaterm SPA. 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 as well as 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 South America. With higher income, consumers prefer to purchase luxurious products to suit their requirements at homes and offices, driving the growth of the South American Electric Wall Heater Market.

 

Objective

The objective of the report is to present a comprehensive analysis of the South American Electric Wall Heater Market to the stakeholders in the industry. The report provides the most dominant trends in the South American 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 South American 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 South America 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 South American 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 South American 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 South American Electric Wall Heater Market. The report also analyses if the South American 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 South American Electric Wall Heater Market. Economic variables aid in analyzing economic performance drivers that impact the South American Electric Wall Heater Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the South American Electric Wall Heater Market is aided by legal factors.

 

South America Electric Wall Heater Market Scope:

South America Electric Wall Heater Market Scope
Market Size in 2023	USD 848.09 Mn.
Market Size in 2030	USD 1444.08 Mn.
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 Chile Uruguay Argentina Brazil Peru

 

South America Electric Wall Heater Market Key Players: 

• INGETEAM LTDA
• Importadora Samarama Limited
• Lumien LTDA
• Scania Latin America LTDA
• S&P Chile
• Primaterm SPA
• Rosinavar SA

(* Key Players List Not Exhaustive)