Pune, India, July 17, 2023 (GLOBE NEWSWIRE) -- The global Outdoor Heating Market Size was valued at USD 1.22 billion in 2022 and is expected to be worth USD 1.27 billion in 2023. The market is projected to be reach USD 1.88 billion by 2030, recording a CAGR of 5.8% during the forecast period 2023-2030.Fortune Business Insights™ displays this information in a report titled, "Global Outdoor Heating Market, 2023-2030."
Outdoor heaters are appliances that are majorly used to emit heat and warm an outdoor space where people have gathered for social or recreational activities. This device delivers heat in the form of infrared rays that is absorbed by people as well as objects, thereby raising the room’s temperature. A wide variety of outdoor heating appliances are available in the market. These include ceramic or quartz electric lamps, gas patio heaters, and fire pits. These appliances can be set up in a variety of styles such as hanging, wall-mounted, or tabletop.
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LIST OF KEY COMPANIES PROFILED IN THE REPORT
- Infratech (U.S.)
- Lava Heat Italia (U.S.)
- Bromic (U.S.)
- Calcana (Canada)
- Ambience (U.S.)
- Fire Sense (U.S.)
- Schwank (patioSchwank) (U.S.)
- AZ Patio Heaters (U.S.)
- Napoleon (Canada)
- Dayva (U.S.)
- Lynx Grills (U.S.)
Key Industry Development:
Infratech Heating Systems obtained key ad spots in premium brands such as Jeep and Apple TV+. The company is said to have become a popular choice among many photogenic properties across the globe.
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023-2030 CAGR | 5.8% |
| 2030 Value Projection | USD 1.88 billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 1.22 billion |
| Historical Data | 2019- 2021 |
| No. of Pages | 140 |
| Segments covered | Product Type, Fuel Type, Application, Region |
| Growth Drivers | Increasing Popularity of Outdoor Entertaining Activities to Propel the Market Growth |
COVID-19 Impact:
Growing Preference for Outdoor Gatherings Boosted Market Growth During COVID-19 Pandemic
While the COVID-19 pandemic caused a major strain on the economies of several countries across the world, catering & hospitality service providers and commercial facility operators increased their demand for outdoor heaters. This is attributed to the fact that end-users wanted to expand their outdoor capacity. This would help them compensate for the decline in the capacity of their indoor facilities due to the pandemic. The concept of outdoor dining also gained notable traction, causing a major spike in outdoor gatherings. These factors boosted the outdoor heating market growth during this period.
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Segments:
Easy Handling of Freestanding Outdoor Heaters to Augment their Demand
By product type, the market is divided into freestanding, tabletop, wall-mounted, and hanging.
The freestanding segment is expected to show strong growth during the forecast period due to their easy portability. These heaters can be easily moved around to supply heat to the required spaces.
Electric Outdoor Heaters to Gain Traction Due to their Lesser Production Cost
By fuel type, the market is segmented into electric, gas/propane, and others (wood).
The electric segment is predicted to exhibit notable growth during the forecast period as these heaters are known to incur lesser production costs. Electric outdoor heaters also reduce the total cost of maintenance and upkeep, thereby boosting their popularity among customers.
Growing Preference for Outdoor Dining to Boost Product Application in Catering & Hospitality Segment
In terms of application, the market is classified into catering & hospitality, commercial & industrial space heating, residential outdoors, and indoor agriculture/livestock brooder.
The catering & hospitality segment is anticipated to witness strong growth during the forecast period as more customers in restaurants and cafes are opting for outdoor dining spaces. Outdoor heaters can offer warmth and comfort to customers in any weather.
By region, the global market is divided into Asia Pacific, South America, North America, the Middle East & Africa, and Europe.
Report Coverage:
The market research report provides an in-depth analysis of the market and highlights key factors, such as top product types, leading companies, installations, and key product applications. Besides, the report also offers valuable insights into the latest market trends and highlights the key industry developments.
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Drivers and Restraints:
Outdoor Entertainment Activities to Gain Traction and Accelerate Market Growth
Customers are increasing their spending on a variety of outdoor recreational activities, such as fishing and outdoor dining, which has positively impacted the market. After the effects of the COVID-19 pandemic receded, many countries across the world observed a notable increase in outdoor activities. This further augmented the demand for affordable and eco-friendly outdoor heating solutions, bolstering the market growth.
However, environmental concerns and high operational costs associated with electric outdoor heaters might hamper the market progress.
Regional Insights:
Rising Commercial and Residential Construction to Boost Market Expansion in North America
North America captured a major outdoor heating market share as the number of residential and commercial construction activities is increasing across the region. These heating solutions are being widely used at homes and commercial complexes to keep them warm during harsh winters and other adverse weather conditions. The growing popularity of outdoor dining is also expected to boost the product’s sales in North America.
However, the market growth might slump in Asia Pacific as the region has a tropical climate for most time of the year, which decreases the requirement for outdoor heating systems.
Competitive Landscape:
Companies to Focus on Product Diversity to Cement Market Positions
The key outdoor heating system manufacturers are focusing on expanding the diversity of their product ranges to increase their customer reach. They are incorporating advanced technologies in their products to expand their features and attract more customers. This move will also help them consolidate their positions in the market.
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Outdoor Heating Key Players Market Share/Ranking, 2022
- Global Outdoor Heating Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Product Type (USD)
- Freestanding
- Tabletop
- Wall Mounted
- Hanging
- By Fuel Type (USD)
- Electric
- Gas/Propane
- Others (Wood)
- By Application (USD)
- Catering and Hospitality
- Commercial and Industrial Space Heating
- Residential Outdoors
- Indoor Agriculture/Livestock Brooder
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Outdoor Heating Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
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