Global Outdoor Heating Market Price To Grow At A CAGR Of 5.40% In The Forecast Period Of 2023-2028
The ‘Global Outdoor Heating Market Price, Share, Size, Analysis, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global outdoor heating market, assessing the market on the basis of its segments like product type, fuel type, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Outdoor Heating Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 1.22 billion
• Forecast CAGR (2023-2028): 5.40%
• Forecast Market Size (2028): USD 1.68 billion
The increasing demand for outdoor heating across commercial businesses, such as restaurants, cafes, and hotels, is driving the market growth. This can be attributed to the fact that outdoor heating can bolster the comforts of customers which can enhance business profitability and loyalty.
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The rising popularity of outdoor activities such as camping, trekking, mountaineering, and gathering in rooftop cafes is further escalating the outdoor heating market growth. In addition, the increasing awareness regarding the advantages offered by outdoor heating, which include large heat output across outdoor spaces, easy transportability, and quick heating, among others, is further expanding the market size.
Meanwhile, the growing demand for portable and electric patio heaters, owing to the greater efficiency, availability in various designs, easy attachability to external components, and higher safety for children, is adding to the outdoor heating market value. The increasing applications of heating appliances for residential outdoor purposes is further invigorating the market growth. Over the forecast period, the anticipated increase in disposable income, standards of living, development of modern smart residential complexes, and increasing population, are expected to fuel the global outdoor heating market.
Outdoor Heating Industry Definition and Major Segments
Outdoor heating is defined as the process of keeping exterior spaces warm and comfortable. During cold weather, different heating equipment are deployed across open spaces which keep the environment warm. Outdoor heating can come in various designs and sizes according to the convenience of the users, with various types of fuel input.
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Based on product type, the market is segmented into:
• Wall Mounted and Hanging
By fuel type, the market is categorised into:
• Gas/ Propane
On the basis of application, the market is divided into:
• Commercial and Industrial Space Heating
• Residential Outdoors
• Catering and Hospitality
• Indoor Agriculture/Livestock Brooder
Based on region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Outdoor Heating Market Trends
The key trends in the global outdoor heating market include the growing research and innovations by major market players, aimed towards improving designs, reducing production costs, and producing environment-friendly outdoor heating devices. Technological advancements in electrical heaters, which include the rapid penetration of remote guided technology, and internet of things (IoT), are expected to emerge as low-cost alternative to traditional outdoor heaters in the forecast period. Hence, these types of innovations are anticipated to bolster the market.
The increasing utilisation of outdoor heating across cruise ships, rooftop bars, high-quality restaurants, casinos, and yachts, among others, is further accelerating the market growth. These outdoor spaces are likely to generate a significant demand for long wave gas heaters, flush mounting, spot heating, portable, and low clearance, among other outdoor heating appliances with additional features. Over the forecast period, upgradations in the hospitality sector are expected to be the crucial trends in the outdoor heating market which are likely to heighten the deployment of outdoor heating appliances across pools, warehouses, resorts, among other spaces.
In regional terms, North America and Europe are expected to account for a sizable share of the market due to the prevalence of cold weather in the regions. With several months of cool temperatures, outdoor heating extends the usage of outdoor areas by providing comfortable warmth. Consumers are also investing in outdoor heating appliances for residential outdoors so that they can enjoy the outdoors even when temperatures fall.
Key Market Players
The major players in the global outdoor heating market report are Lynx Grills, Inc., Lava Heat Italia, The Schwank Group, Tansun Ltd., Calcana USA Ltd, and Balkene Home, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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