Smart Electric Heater Global Market Report 2024

The smart electric heater market size has grown rapidly in recent years. It will grow from $1.44 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth observed in the historical period can be attributed to factors such as the increase in energy prices, the impact of environmental regulations, growing consumer awareness of energy efficiency, trends in home renovations, and demographic shifts influencing heating and energy consumption patterns. These elements collectively contributed to the expansion of the smart electric heater market during the historic period.

The smart electric heater market size is expected to see rapid growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The anticipated growth in the forecast period for smart electric heaters can be attributed to concerns related to climate change, ongoing urbanization trends, policy initiatives promoting energy efficiency, the increasing adoption of smart home technologies, and economic factors influencing consumer choices. Major trends expected in the forecast period include the rising adoption of energy management systems, a growing demand for eco-friendly heating solutions, the development of advanced heating control technologies, and the emergence of innovative business models such as energy-as-a-service.

The increasing demand for energy-efficient heaters is poised to drive the growth of the smart electric heater market. Energy-efficient heaters are designed to maximize heat production while minimizing energy consumption. Smart electric heaters contribute to energy efficiency by optimizing heating schedules, adjusting temperature settings based on occupancy or ambient conditions, and integrating with smart home systems for remote control and energy monitoring. These features help minimize energy waste and enhance overall efficiency. The use of energy-efficient heaters is crucial for reducing greenhouse gas emissions and improving air quality. Eurostat reported in October 2023 that average household electricity prices in the EU rose during the first half of 2023, emphasizing the importance of better resource utilization for improved efficiency. Hence, the increasing demand for energy-efficient heaters is a key driver for the growth of the smart electric heater market.

Major companies in the smart electric heater market are actively developing innovative products, including smart LED heaters, to gain a competitive advantage. LED heaters utilize light-emitting diodes (LEDs) as a component of their design, typically featuring integrated LED lighting elements alongside heating functions. In January 2024, AENO, a sub-brand of ASBISC Enterprises PLC, introduced the AENO premium eco-smart LED heater. This sleek and ultra-thin heater incorporates advanced features such as a digital LED display, SMART mode for efficient heating, and customizable LED screen brightness. With safety features such as child-lock and overheat protection, the AENO premium eco-smart LED heater not only provides warmth but also reduces energy costs.

In January 2024, Laars Heating Systems Company Inc., a US-based water heater manufacturing company, completed the acquisition of Electro Industries Inc. for an undisclosed amount. This strategic acquisition enhances Laars Heating Systems' portfolio in residential, commercial, and industrial space heating, expanding its offerings and manufacturing capabilities to better meet the evolving needs of customers in North America. Electro Industries Inc. is a US-based electro-mechanical products company specializing in electric boilers, air-to-water heat pump technology, electric duct heaters, control systems, and smart heaters.

Major companies operating in the smart electric heater market report are Panasonic Corporation, LG Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Haier Electronics Group Co. Ltd., Carrier Global Corporation, Electrolux AB, Dyson Ltd., Danfoss Group, A.O. Smith Corporation, De'Longhi S.p.A., Rinnai Corporation, Rheem Manufacturing Company, Broan-NuTone LLC, Zehnder Group, V-Guard Industries Ltd., Dimplex North America Limited, Stiebel Eltron GmbH & Co. KG, Warmup plc, Stadler Form AG, Smith's Environmental Products Ltd., Haverland S.L., Glen Dimplex Group, EcoSmart Green Energy Products Inc., Siemens AG.

North America was the largest region in the smart electric heater market in 2023. The regions covered in the smart electric heater market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart electric heater market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A smart electric heater is a heating device equipped with advanced technology to offer efficient and convenient heating solutions. These heaters are designed to connect to home Wi-Fi networks, enabling users to control them remotely through smartphone apps or voice commands using virtual assistants. The smart features enhance the user experience, allowing for personalized and flexible control over the heating system.

The primary product types in the smart electric heater market include convection heaters, radiant heaters, infrared panel heaters, and fan heaters. Convection heaters operate by warming the air through a heating element and then circulating it throughout the room, ensuring consistent and even heating. The functions associated with these heaters include smart climate control and smart water heaters. These products find applications across various end-user industries, including residential, commercial, and industrial sectors.

The smart electric heater market research report is one of a series of new reports that provides smart electric heater market statistics, including smart electric heater industry global market size, regional shares, competitors with smart electric heater market share, detailed smart electric heater market segments, market trends, and opportunities, and any further data you may need to thrive in the smart electric heater industry. This smart electric heater market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart electric heater market consists of sales of smart space heaters, smart panel heaters, hybrid heaters, energy monitors and accessories. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.