Electric Storage Heater Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 2.1 Billion by 2033, exhibiting a CAGR of 7.2% from 2026 to 2033.
In 2022, the global electric storage heater market was valued at approximately USD 3.5 billion and is projected to reach USD 5.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. Europe holds a substantial share of this market, driven by stringent energy efficiency regulations and a high awareness of energy conservation. Countries such as Germany, the UK, and France are leading in adopting energy efficient heating solutions, including electric storage heaters. The European Unions policies aimed at reducing energy consumption and greenhouse gas emissions further contribute to the markets growth in this region. North America also represents a significant portion of the market, with a market size of USD 8,061.68 million in 2024 and a projected CAGR of 4.7% from 2024 to 2031. The United States leads this region, accounting for USD 6,360.67 million in 2024, driven by rising urbanization and disposable income levels. The Asia Pacific region is anticipated to experience the highest growth rate, with a CAGR of 7.5%, fueled by rapid urbanization, increasing disposable incomes, and growing awareness about energy efficient heating solutions. Countries like China, India, Japan, and South Korea are witnessing significant demand due to expanding residential and commercial construction activities. These regional dynamics present substantial opportunities for market expansion, particularly in developing economies where the demand for efficient heating solutions is on the rise.
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Dimplex
Elnur
Stiebel Eltron
Creda
Sunhouse
Liberty Electric Products
Electric Ireland
Thermotec
Heatstore
Technotherm
Jersey Electricity
Alto Electrical
Vent-Axia
Newlec
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Storage Heater Market
Convector Heaters
Radiant Heaters
Infrared Heaters
Storage Heaters
Wall-mounted Heaters
Electricity
Solar-assisted Electric Storage
Hybrid Systems
Grid-connected Electric Storage
Residential Use
Commercial Use
Industrial Use
Institutional Use (Schools, Hospitals, etc.)
Manual Control
Programmable Control
Smart Control Systems (IoT-enabled)
Remote-Controlled
Households
Small Businesses
Large Enterprises
Government and Public Institutions
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Storage Heater Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Storage Heater Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Storage Heater Market, By Type
6. Global Electric Storage Heater Market, By Application
7. Global Electric Storage Heater Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Electric Storage Heater Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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