Radiator is a device used for transfer of thermal energy such as heat from one medium to another. The electric radiator is used to maintain a proper temperature inside a packed environment such as house and office. The electric radiator uses electricity to generate thermal power, which is cheaper than its alternative such as central heating system and heater storage. Electric radiator is preferred because of its small size, and low cost. Because of their small design they can be adjusted anywhere in the house and workspace leaving place for other equipment. It is deigned in such a way that it prevents leakage of oil and it adjusts the temperature according to the surrounding, which makes it perfect for use in such places where tourism is high and also the places where temperature is low throughout the year. These tiny devices have more sensitivity as compared to temperature sensors and offer fast response.
COVID-19 Impact analysis
- The outbreak of COVID-19 has temporarily stopped the entire world. Almost every country has imposed lockdown and is following social distancing norms. Following that norms, the production capacity of industries has showcased a slump.
- Also the demand for raw materials from end user industries has slowed. Limitation in production of machine parts has led radiator producers to produce specific type radiator production only in limited quantities.
- This has hampered the market growth. Because of lockdown and halt in transportation demand and supply chain has been disturbed affecting multiple industries around the globe leading to downfall in global economy.
Top Impacting Factors
Upswing in use of advanced & portable equipment, demand for temperature sensors in the smart home applications owing to the fact that it has compact size and improved response rate, and rise in adoption of home & building automation systems are the factors that drive the global electric radiators market. However, availability of substitute products hinders the market growth. Contrarily, investments in automation, launches of new and advanced products, requirement for controlling temperature, built in electric radiators in houses are preferred now a days. Some of the radiators use oil as a heating element, but they are designed in such a way that the radiator does not get over heated and starts leakage.
- The electric radiator is going through design and technological changes such as smart controlling. Use of voice command to activate and deactivate the equipment along with connectivity to smart devices such as phones and Wi-Fi. Smart control helps to connect and control the devices.
- To make work and life easy, the dependency of people on automotive products is increasing. With the growth in use of self-running devices, the competition among manufacturers is rising to provide easy to use, safe and best quality products in the global market. The market is growing, and competitors try to capture more market share through their products, which brings innovation into their product.
- To increase the sales, research is being done to improve the product quality. Research is done on the basis of geographical area, climate study and change in consumer behavior about what people are exactly looking into a product before buying. Suppose if the product is to be sold in the area where the weather is cold throughout the year, in such cases the product will be used at its maximum capacity. To fit that requirement, the radiator will be made with such components that can run for a longer time while consuming less energy.
- Increasing use of smart home appliances, which can be easy and safe to use, fit anywhere in the house. Electric radiators quickly gets heated during use. In the European market, they are focusing on making of electric efficient electric radiators to slower down the consumption of energy and reduction of carbon emission, which will save the electricity bill and conserve energy for future generation.
- The reason for the growth of electric radiator is because it is just plug and play/use type. In other hands like hydronic heating system where first water has to be boiled first, then it is pumped through the radiator. The development in technology is important for survival and the changing weather conditions have to cope up with the market. The market is mainly driven by the demand for radiators in residential purposes, which has to be light, small and electric efficient.
Key Benefits of the Report
- This study presents the analytical depiction of the Electric Radiators Market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Electric Radiators Market share.
- The current market is quantitatively analyzed to highlight the Electric Radiators Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Electric Radiators Market analysis based on competitive intensity and how the competition will take shape in coming years
Electric Radiators Market Report Highlights
Key Market Players
Midea,, Eskimo,, Dimplex,, Noirot,, Haverland,, AIRELEC,, Royalstar, King Electric,, Elnur,, Technotherm,, SINGFUN,, Irsap,, AUX,, GREE,, Fischer,, DYSON,