Dublin, July 26, 2022 (GLOBE NEWSWIRE) — The “India Room Heater Market By Type (Fan Room Heater, Quartz Room Heater, Halogen Room Heater, Carbon Room Heater and Oil Filled Room Heater), By Distribution Channel, By Price Segment, By Region, Competition Forecast & Opportunity, 2027” report has been added to ResearchAndMarkets.com’s offering.
The Indian Room Heater Market stood at USD86.36 million in 2021 and is expected to register a steady CAGR of 6.55% in the forecast period owing to the growing disposable income of the consumers and the high demand from the rural areas.
Ongoing advancements in the room heater technology and the rise in the number of market players offering innovative products in the market are the other significant drivers accelerating the Indian Room Heater Market growth through the next five years.
With the rise in the per capita income of consumers, the demand for room heaters is expected to grow at a significant rate in the coming years. The improved living standards and rapid urbanization is fueling the need for multiple room heaters in a single house. The growth in the construction of new buildings, an increase in the number of households, and the growing affordability of consumers are expected to boost the demand for room heaters across the country.
Also, the rise in penetration of solar energy in rural areas and the growing middle-class population are driving the demand for solar heaters in rural areas. Consumers prefer to use solar energy room heaters as it is highly convenient and cost-effective. The expansion of the product portfolio and increasing reach of market players in rural areas are anticipated to play a significant role in influencing the Indian Room Heater Market demand.
The Indian Room Heater Market is segmented into type, distribution channel, price segment, region, and competitive landscape. Based on regional analysis, the Northern region dominated the market in 2021, holding a market share of 46%, and is expected to maintain its dominance throughout the forecast period.
High demand for room heaters from the urban areas of Northern India states, including Delhi, Uttar Pradesh, Punjab, Haryana owing to an increase in the number of nuclear families and growing consumer awareness, are driving the demand for the Indian Room Heater Market.
Usha International Limited, Orpat Group, Bajaj Electricals Ltd., Orient electric Limited, Havells India Limited, Honeywell India Private Limited, Powerpye Electronics, Eveready Industries India Limited, Borosil Limited, Sunflame India Pvt Ltd, etc. are the major market players operating in the Indian Room Heater Market.
Objective of the Study:
- To analyze the historical growth of the market size of the Indian Room Heater Market from 2017 to 2021.
- To estimate and forecast the market size of the Indian Room Heater Market from 2022 to 2027 and growth rate until 2027.
- To classify and forecast the Indian Room Heater Market based on type, distribution channel, price segment, regional distribution, and competitive landscape.
- To identify dominant region or segment in the Indian Room Heater Market.
- To identify drivers and challenges for the Indian Room Heater Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Room Heater Market.
- To identify and analyze the profile of leading players operating in the Indian Room Heater Market.
- To identify key sustainable strategies adopted by the market players in the Indian Room Heater Market.
Years considered for this report: