India Room Heater Market Size Booming to Cross USD 90.6 Million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India room heater market size at USD 90.6 million in 2022. During the forecast period between 2023 and 2029, the India room heater market size is projected to grow at a significant CAGR of 8.1% reaching a value of USD 151.8 million by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India room heater market size at USD 90.6 million in 2022. During the forecast period between 2023 and 2029, the India room heater market size is projected to grow at a significant CAGR of 8.1% reaching a value of USD 151.8 million by 2029. In India, demand for room heaters is growing quickly due to a rising disposable income and the proliferation of new, reasonably priced brands and products. Major online retailers, such as Flipkart and Amazon, make it simple to buy smart room heaters, which is expected to be a key driver of the market's expansion. However, negative use of overuse of room heaters on health and environment may act as a significant restraining factor for the growth of India room heater market.
India Room Heater Market – Overview
A space heater is a tool used to warm a single, small to medium-sized space. When you simply need to heat a single room or a small area, a room heater works best. One may use it alone or in conjunction with other heating sources. Room heaters come in a variety of price ranges and operate according to a variety of principles and technologies. There are many different room heaters on the market, and they differ in size, design, price, and several other qualities.
India Room Heater Market – By Price
Based on price, India room heater market is segmented into low, medium, and high. The medium–priced room heater segment accounts for the highest market share. These usually range from INR 5,000 to INR 15,000 (approximately USD 60 to USD 180). The medium–priced room heaters appeal to the middle–income group of consumers in India and offer a fair deal to the price and life of the product. The high–priced room heater also covers a substantial share of the market owing to the high demand from commercial spaces, such as healthcare facilities.
Impact of COVID-19 on India Room Heater Market
The India room heater market was affected by the unprecedented COVID–19 pandemic outbreak. As the purchasing power of consumers in India decreased, the demand for room heaters also registered a significant drop in 2020. Furthermore, the manufacturing and supply chain were also halted during the lockdown period, which restricted the accessibility of room heaters for consumers, and led to huge losses to the room heater brands. However, room heater companies are increasingly shifting towards e–commerce platforms for the sale of their products. With increasing internet and smartphone penetration in the Indian market, the India room heater market is projected to flourish in the post COVID–19 period.
Major players operating in India Room Heater market include Usha International Limited, Orpat Group, Bajaj Electricals Ltd., Orient Electric Limited, Havells India Limited, Honeywell India Private Limited, Powerpye Electronics, Eveready Industries India Limited, and Borosil Limited. 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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