The global baseboard heater market is anticipated to grow at a significant CAGR of 1.5% during the forecast period (2022-2028).The major factor expected to drive the market growth is the rising demand for energy-efficient products and rising industrialization. In addition, the growing construction and industrial sector in developing economies coupled with rising awareness among consumers about environmental protection are some factors propelling the growth of the global baseboard heater market during the forecast period. Moreover, the market is growing owing to its lower energy bills, perfect for “hard to keep warm” rooms, supplemental home heating, and portable and easy-to-plug anywhere.
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Additionally, by type, the electric type segment is estimated to hold significant share in the market during the forecast period. It is mostly used in residential applications as it is primarily used for heating small spaces such as a bedroom or a hallway and can also be utilized to provide warmth during cold seasons when they are plugged in all day long. Whereas hydronic comprises an electrically heated boiler that heats water circulating through pipes under floorboards where they warm up as contact with people’s feet allows them to stay warmer than air alone would do.
Some major players in the market include A&S Electric Supply, Environmental Technologies Inc., Heatrex, Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in July 2019, Rheem Manufacturing Company which manufactures water heating and HVAC (Heating, ventilation, and air conditioning) equipment announced the launch of a multipurpose hose sprayer – Hot wave. Further, the company added that the new hot water sprayer is integrated with the tank less water heating technology that ensures the supply of endless hot water outdoors. With this, the company aims to capitalize on the safety and reliability of its new water heating technology and assures the highest electrical standards.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By Industry Vertical
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-A&S Electric Supply, Environmental Technologies Inc., Heatrex, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Baseboard Heater Market Report by Segment
By Type
- Electric Type
- Hydronic Type
By Application
- Residential
- Commercial
- Industrial
- Institutional
By Industry Vertical
- Shopping Complex
- Oil andGas Companies
- Manufacturing Units
- Others
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