Market Trends and Developments

Rising purchasing power as well as rising standard of living among consumers, along with the increasing product portfolios by market players, etc., are some of the factors that are driving the India room heater market through 2027F. According to TechSci Research report, “India Room Heater Market By Type (Fan Room Heater, Quartz Room Heater, Halogen Room Heater, Carbon Room Heater and Oil Filled Room Heater), By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Online and Others {Institutional Sales, Exclusive Stores, etc.}), By Price Segment (Low, Medium and High), By Region, Competition Forecast & Opportunity, 2027F”, the India room heater market is anticipated to grow at a CAGR of 6.55% in the forecast period to reach USD125.55 million by 2027. Consumers are becoming more aware of the product brand and are investing amounts to buy quality products for daily usage. The growing expenditure capacity of consumers enables them to invest in quality and branded products. Market players are launching branded room heaters in the market to meet the growing demand of customers all over the country. Market players are also investing in research and development activities to upgrade the existing infrastructure and find innovative solutions to improve the performance of room heaters. The introduction of plug-in portable room heaters and smart room heaters in the market to make the experience more convenient and comfortable for consumers is expected to create lucrative growth opportunities for the India room heater market in the forecast period. However, the possibility of potential fire accidents and health issues may restrain the market growth in the forecast period. The India room heater market is segmented into type, distribution channel, price segment, region, and competitive landscape. Based on type, the market is categorized into fan room heater, quartz room heater, halogen room heater, carbon room heater, and oil filled room heater. Fan room heater dominated the market in 2021 with a market share of 38.65% and is expected to maintain dominance throughout the forecast period. Fan room heaters are witnessing huge demand as they are highly affordable, portable, safe to use, and make no noise while working. Fan room heaters are preferred for large spaces as they can effectively warm the entire room. Based on distribution channel, the market is fragmented into multi branded stores, supermarkets/hypermarkets, online, and others. The others segment is further divided into institutional sales and exclusive stores. The multi branded stores accounted for the highest market share of 60.01% in 2021. Consumers prefer to visit the stores, compare the price of different room heaters from different brands, and then make informed decisions. The availability of multiple heaters belonging to different brands in a single place is highly convenient for consumers, which is the primary reason for their high market contribution. Based on the price segment, the market is divided into low, medium, and high. The low range room heaters dominated the market, with a market share of 72.27% in 2021. Consumers opt for pocket-friendly room heaters and can fulfill the requirements effectively. The high sales of room heaters in rural and urban areas and the entry of local market players are expected to bolster the demand for low price room heaters over the next five years. Major market players operating in the India room heater market are Usha International Limited, Orpat Group, Bajaj Electricals Ltd., Orient Electric Limited, Havells India Limited, Honeywell India Private Limited, Powerpye Electronics, Eveready Industries India Limited, Borosil Limited, Sunflame India Pvt Ltd “High internet penetration and proliferation of smart devices are accelerating the adoption of the e-commerce industry among consumers. Market players are actively using the online sale platforms to expand the consumer base and reach remote places by building an efficient supply and logistics chain. They are adopting attractive marketing strategies to garner maximum customer attraction and stay ahead in the market. The launch of novel room heaters by the market players on online sales platforms and the growing popularity of the e-commerce industry is expected to propel the India room heater market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.