Domestic Heating Appliances Market Will Generate New Growth Opportunities by 2021

Domestic Heating Appliances Market: Global Industry Analysis and Forecast to 2015 to 2021
Domestic heating appliance is a device or system which is used to produce heat to accomplish
various tasks. It also acts as a combustion appliance and having heat generation capacity up to 50
kW. Several domestic heating appliances includes heater, condensing boiler, heat spreader, hot
water storage tank, fan heater, geysers, electric Iron, furnace, stoves, oil burner, radiator, space
heater, solar water heater, immersion rods and wood-burning stove. Domestic heating appliances are
used for both residential and commercial purposes. Global domestic heating appliances market is
segmented into electric storage heating radiators, soil heating, non-electric heaters and electric
heating resistors. Among various segment soil heating and electric storage heating radiators together
hold the largest market share and accounts more than 40.0% share in domestic heating appliances
market. Growing economy in developing country is one of the key factors for the growth of
domestic heating appliances market.
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The demand of high efficient, energy saving and safety domestic heating appliance is growing more
in the market. This demand is seen more in urban market especially in high-tier cities as compared
to rural area or low tier cities. Desire to live a comfort and luxurious life among individual is one of
the key factor due to which, individual leads to invest more over domestic appliance including
heating appliances. This helps in the growth of domestic heating market in all across the globe.
Large investment over research and development on various domestic heating appliances and
introduction of new and innovative technology in the market further helps in the growth of domestic
heating appliances. Product upgrading is also one of the important factors for healthy growth of
domestic heating appliances market.
Asia pacific is one of the prominent markets for growth of domestic heating appliances. Growing
housed hold income level of individual leads more investment over domestic appliances including
heating appliance. Asia Pacific is expected to witness fastest growth rates in domestic heating
appliances market during forecasted period 2014- 2020. Nations such as China, Japan and India
hold the largest market share in domestic heating appliances market in Asia Pacific region. Japan is
the second largest market of domestic heating appliance after China. Large population base in Asia
Pacific offers huge market potential for growth in domestic heating appliances market. Asia pacific
holds the largest market share in domestic heating appliances market. Tanzania, Jordan, Bolivia and
Philippines are some of the fastest growing market for domestic heating appliances. These nations
are expected to grow in double digit during forecasted period in global domestic heating appliances
market. In North America, the U.S. holds the largest market share for domestic heating appliances.
Germany accounts the largest market size for domestic heating appliances in European region. The
global domestic heating appliances market is expected to grow in a single digit growth rate during
forecasted period 2014- 2020.
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Some of the major companies operating in global domestic heating appliances market are Clatronic
GmbH Severin Elektrogeräte GmbH, Sunbeam, Glen Dimplex, Ariston Thermo UK Ltd, Bajaj
Electricals Ltd, Baxi Heating UK Ltd, Bosch Thermotechnology Ltd, Danfoss Randall Ltd,
Honeywell Control Systems Ltd, Ideal Boilers Ltd, Quinn Radiators Ltd, Rettig Ltd, Vaillant Ltd
and Vokèra Ltd