Albany NY, United States, May 10, 2022 (GLOBE NEWSWIRE) -- Sharp focus on smart and affordable outdoor heating solutions has propelled the pace of product innovation in the outdoor heating market. Growing sales of commercial and residential heaters for outdoor heating is bolstering the revenue size of the market. The global outdoor heating market is projected to surpass valuation of US$ 12.9 Bn by 2031, finds an in-depth study by TMR analysts. Competitive product pricing is a major marketing strategy for innovators as well as new entrants.
Manufacturers are witnessing lucrative demand for electric fireplaces and patio heaters in range of commercial applications, assert the analysts who have scrutinized current and emerging avenues in the outdoor heating market. Patio heaters in particular have helped commercial facilities to enhance the customer experience for Gen Z population, who are seeking smart outdoor heating products. Of note, restaurants have witnessed a steady uptake of products, thus boosting the outdoor heating market.
In recent times, outdoor heating products that are powered with renewable energy attract significant value proposition for manufacturers looking for new revenue streams in the outdoor heating market. E-commerce platforms and online shopping has helped in increasing the access to affordable as well as advanced technologies in the products.
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Key Findings of Outdoor Heating Market Study
- Manufacturers Keen on Unveiling Cutting-edge Designs and New Functionalities: The TMR analysts in this study observed that the trend of constant product innovation is influencing new opportunities in the outdoor heating market. Manufacturers, the analysts found, have been actively spending on R&D to develop new designs and equip the products with advanced technologies. Indeed, the growing introduction of aesthetic designs has expanded the avenues in the outdoor heating market over the past few years.
- Enormous Demand for Patio Heaters to Create Sizable Sales Revenues: Stylish patio heaters are gathering steam among residential users. Of note, electric patio heaters gaining popularity among all end users, mainly on account of less regulations governing their use. Manufacturers are expected to witness a massive adoption of electric products due to the increased preference over propane or gas-based patio heaters. The environmentally friendly nature of the technology is bolstering the growth prospects of the outdoor heating market.
- Adoption of Smart Outdoor Heating Technologies in Residential Users to Expand Avenues: The need for smart outdoor heating solutions is high especially in residential applications, notes the TMR study on the outdoor heating market. Of note, the sales of heat lamps and fire pits are growing steadily, thus boosting the size of the outdoor heating market.
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Outdoor Heating Market: Key Drivers
- Homeowners and residential users are increasingly spending on making indoor and outdoor living spaces cosy. Many of them are keenly adopting better solutions for patio heating. This has expanded the market prospects for outdoor heating products.
- Rapid pace of urbanization in emerging economies is spurring commercial constructions. This, in turn, has propelled the need for outdoor heating solutions, finds a TMR study on the outdoor heating market.
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Outdoor Heating Market: Regional Growth Dynamics
- Developing economies of the Middle East, Africa, and Asia Pacific have become new opportunities for companies in the outdoor heating market. The economies have witnessed rapidly increasing numbers of outdoor patio and deck constructions. Growing spending on improving the living standards has spurred the prospects for outdoor heating solutions, notably among millennial and Gen Z. Thus, the analysts of this study project the demand outdoor heating solutions in these regional markets to create incremental avenues during the forecast period (2021-2031).
- North America and Europe are expected to offer new revenue streams in the global outdoor heating market. A large proportion of demand in the next few years is expected to come from high-income groups.
Outdoor Heating Market: Key Players
Some of the key players in the outdoor heating market are Sunheat International, Spaceray Radiant Heaters, Schwank GmbH, Lava Heat Italia, Infrared Dynamics, Inc., ChillchaserHire Scotland, and BD Products, LLC.
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Global Outdoor Heating Market: Segmentation
Outdoor Heating Market, by Product Type
- Fire Based
- Fireplace
- Fire Pits & Pots
- Fire Tables
- Patio Heater
- Floor or Freestanding
- Table Top
- Wall Mounted
- Others
Outdoor Heating Market, by Operation
- Electric
- Gas
- Wood & Solid Fuel
Outdoor Heating Market, by Price Category
- Low
- Medium
- High
Outdoor Heating Market, by End-user
- Residential
- Commercial
- Sports & Stadiums
- Airport & Transportation Facilities
- HoReCa
- Lawn & Garden
- Pools
- Others
Outdoor Heating Market, by Distribution Channel
- Online
- Company Owned Website
- E-commerce Website
- Offline
- Direct
- Indirect
Outdoor Heating Market, by Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Austria
- Balkan
- Belgium
- France
- Germany
- Hungary
- Italy
- Nordics
- Netherlands
- Poland
- Portugal
- Spain
- Switzerland
- U.K.
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Singapore
- Malaysia
- Thailand
- Vietnam
- Philippines
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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