Europe Smart Room Heater Market Size Set to Boom at Robust CAGR of 16.3% During 2023–2029

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Europe Smart Room Heater Market

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Europe smart room heater market size to grow at an impressive CAGR of 16.3% during the forecast period between 2023 and 2029. Europe smart room heater market’s expansion is attributed to the growing launches of many smart room heater brands and products and technology advancements in the products. The manufacturers of smart room heaters are progressively including technology, such as IoT sensors, Wi-Fi, 4G/5G connection, as well as smartphone remote control. It is also expected that growing awareness of the detrimental impact traditional room heating techniques have on human health and the environment would aid in the expansion of the smart room heater market in Europe during the period in analysis.

Europe Smart Room Heater Market – Overview

As a fan in warm weather and a heater in colder months, a smart room heater is a gadget for all seasons. These heaters are instilled with attractive smart features such as smartphone control, smart scheduling, and worldwide remote access to warm up a cold room at their discretion, bringing in the highest return on investment to the consumers. Smart room heaters are gaining huge popularity in the European market because of their advantages such as they are environmentally friendly, saving money and time, and automatically adjusting the temperature according to room temperature.

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Europe Smart Room Heater Market – By Distribution Channel

Based on distribution channel, Europe Smart Room Heater market is segmented into online and offline channels. The online segment accounts for a higher market share. The deepening penetration and increasing popularity of e–commerce platforms, such as Amazon and eBay, among European consumers. The e–commerce site allows customers access to a wide range of products of different brands and compare their prices and specifications as well as compare them with each other. The deepening penetration of China-based e-commerce Alibaba in the European market owing to the increasing popularity of Chinese smart room heaters is also propelling the growth of the online distribution channel.

Impact of Russia War in Ukraine on Europe Smart Room Heater Market

Russia’s war in Ukraine has significantly impacted energy and food markets in Europe. There has been a steep rise in energy prices in Europe and across the globe since July 2021. And the invasion of Russia of Ukraine on February 24, 2022 further aggravated the challenging situation in the region’s energy and food supply. Consequently, in March 2022, 27 member states of the European Union (EU) reached an agreement to reduce their reliance on Russian oil and gas. Towards the end of May 2022, the European Council imposed a ban on about 90% of all Russian oil imports (with a temporary exception for crude oil delivered by pipeline) by the end of 2022. Further in December 2022, the European Council set an oil price cap for Russian oil at USD 60 per barrel to limit price surges driven by extraordinary market conditions.

Impact of COVID-19 on the Europe Smart Room Heater Market

The unprecedented COVID–19 negatively impacted the growth of the Europe smart room heater market. The supply chain and sales of smart room heaters plummeted during the lockdown period. The manufacturing of smart room heaters was also halted in Europe and globally owing to a huge shortage of IC chips and other essential components, which hindered the market growth. The purchasing power of consumers in the region was also directly impacted, which also affected the market demand for smart room heaters in Europe. However, the market is forecast to regain its growth during the post-pandemic period.

Competitive Landscape

Major players operating in Europe Smart Room Heater market include De’Longhi, Honeywell International, Jarden Consumer Solutions, Lasko Products, Dyson, Bromic Group Pty Ltd., and KING ELECTRICAL MFG. Co., Dr. Infrared Heater, and Sunheat International. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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