North America Residential Electric Radiators Market Size, Share & COVID-19 Impact Analysis, By Type (Panel, Baseboard, Fan Heaters, and Others), By Power Rating (Up to 500 W, 500 to 1000 W, 1000 to 1500 W, and Above 1500 W), and Regional Forecast, 2023-2030

North America residential electric radiators market size was valued at USD 43.50 million in 2022. The market is projected to grow from USD 46.12 million in 2023 to USD 65.05 million by 2030, exhibiting a CAGR of 5.04% during the forecast period.

Electric radiators are similar to central heating radiators in that they do not require plumbing to deliver effective heat. They are either filled with a thermal fluid to provide heat or contain dry elements, such as a ceramic core, that warms the surrounding air. Electric radiators and electric heating are highly efficient when in use, as all the power required to operate the system is converted into heat. This level of efficiency cannot be matched by their gas counterparts. The increasing adoption of efficient electrical appliances and technological advancements is boosting the residential electric radiators market growth.

COVID-19 IMPACT

Reduced Consumer Spending and Economic Uncertainty Amid Pandemic Declined Market Growth

The COVID-19 pandemic had a negative impact on the North American residential electric radiators industry. The global supply chains were disrupted, causing delays in the production and delivery of electric radiators and their components. This, in turn, led to shortages and increased the time between initiating and completing the production process for manufacturers. Economic uncertainty during the pandemic also resulted in reduced consumer spending on non-essential items, including home heating appliances such as electric radiators. Many households postponed or canceled renovation projects.

Residential electric radiators are often installed during new construction or renovation projects. With more people working from home, there was a shift in heating needs. Some households relied on existing heating systems, while others may have temporarily used space heaters instead of investing in electric radiators. The pandemic caused construction delays and a decrease in the housing industry, impacting the demand for these products.

North America Residential Electric Radiators Market Trends

Growing Demand for Energy Efficient Heating Solutions Electric Appliances and Smart Home Technology to Propel Market Growth

Energy-efficient electric radiators are designed to consume less electricity while providing effective heating, leading to cost savings for consumers and making them an attractive choice. The U.S. government aims to promote energy-efficient appliances in all sectors, which may boost the adoption of electric radiators. Commercial and government buildings are among the major electricity consumers in the U.S.

For instance, according to the National Building Performance Standards Coalition, in the U.S., commercial and residential buildings account for 35% of carbon dioxide emissions. Commercial and government buildings cost USD 190 billion to power annually. With 80% of all existing U.S. buildings projected to remain operational in 2050, the electrification of current structures is crucial for achieving U.S. climate goals.

North America Residential Electric Radiators Market Growth Factors

Adoption of Renewable Energy Integration to Boost Demand for Electric Radiators

Renewable energy integration is being adopted in several regions, including North America, and this may lead to a rapid growth in the demand for electric radiators. Electric radiators are particularly suitable for homes and businesses that are embracing renewable energy sources such as solar panels or wind turbines. The electricity generated from these sources can power the electric radiators, creating a synergy between sustainable energy production and efficient space heating.

Integrating renewable energy into heating systems becomes crucial as the world focuses on reducing carbon emissions and combating climate change. Residential electric radiators powered by renewable energy contribute to lower carbon footprints by reducing reliance on fossil fuels for heating.

Renewable energy systems often intermittently generate electricity, depending on weather conditions. Electric radiators can take advantage of this flexibility by operating when renewable energy production is at its peak, further optimizing energy use and reducing the strain on the grid.

For instance, in 2022, at the United Nations Climate Change Conference, the U.S. government announced the federal government’s first Memorandum of Understanding (MoU) with a utility to work toward reaching 100% carbon pollution-free electricity (CFE), with over 50% of it provided on a 24/7 basis daily, aligning with the specified requirements.

Beneficial Characteristics of Electric Radiators to Drive the Residential Electric Radiators Market Growth

Several factors have driven the thriving demand for electric radiators in North America, with the characteristics of these devices being a major contributing factor. Electric radiators often incorporate advanced heating technologies that ensure efficient energy usage. Many models come equipped with programmable thermostats and timers, providing users with the ability to control when and how much heat is generated. This level of control helps optimize energy consumption and reduce utility costs.

Other benefits of electric radiators include precise temperature control, easy installation, and more. A significant advantage is the ease of installation in residential areas, as no hydronic connection is required. Additionally, it is ideal for off-grid dwellings and boasts a fast response time. Moreover, these radiators can be installed in specific rooms or zones, allowing users to heat only the spaces in use. This zoned heating approach offers flexibility and further contributes to energy efficiency.

RESTRAINING FACTORS

Availability of Alternatives and High Costs May Hinder the Residential Electric Radiators Market Growth

Several factors are negatively impacting the North America residential electric radiators market growth. The primary barrier is the availability of alternative heating products in the market. Additionally, the high cost of the product is set to hinder market growth during the forecast period.

While the installation of these systems is generally easier than traditional heating systems, costs may be involved, especially if there is a need to rewire or modify the electrical system. Furthermore, in regions where electricity prices are considerably higher than the cost of other heating fuels, using electric radiators can result in higher ongoing operating costs. This can be a concern for consumers looking to save on utility bills.

On the other hand, hydronic heating is completely enclosed, with no exposed electrical connections or flames, minimizing fire hazards. The water temperature flowing in a hydronic heating system at a controllable temperature provides perfect comfort levels in individual rooms.

For instance, in May 2021, Jaga expanded its hydronic fan coil unit line. The company announced its higher capacity Briza 26 and Briza 22 hydronic fan coil unit line. These products, available with non-ducted or ducted systems, are small enough to install in the ceiling or wall, offering quiet but high-capacity heating up to 90 MBH.

North America Residential Electric Radiators Market Segmentation Analysis

By Type Analysis

Baseboard Segment Dominates the Market Owing to Zone Heating and Simple Installation

Based on type, the market is segmented into panels, baseboards, fan heaters, and others.

Baseboard radiators dominate the market by holding the largest North America residential electric radiators market share and are a common type of electric radiator found in many homes in North America. They are easy to install, making them widely used in various residential settings. The ease of installation contributes to the growing adoption of this product across various applications, driving market growth.

The fan heaters segment is a major market segment due to their rapid heating capability and portability. Fan heaters provide quick heat through forced convection, which can be convenient for rapidly warming specific areas.

By Power Rating Analysis

1000 To 1500 W Segment Dominates Due to Convenience of Room Space and Power Rating

Based on power rating, the market is subdivided into up to 500 W, 500 to 1000 W, 1000 to 1500 W, and above 1500 W.

The 1000-1500 W segment is dominating, as this power rating range is suitable for larger living rooms and is witnessing significant growth. The demand for residential electric radiators in this power range is likely to grow considerably.

The 500 to 1000 W segment is also one of the dominating segments. As energy efficiency becomes important and consumers seek to reduce carbon emissions, electric radiators with medium power ratings might be favored for smaller to medium-sized spaces. The segment is experiencing considerable growth over the study period. These radiators provide a fair balance between energy efficiency and heating capacity, which aligns with future consumer needs.

REGIONAL INSIGHTS

On the basis of country, the market is segmented into U.S. and Canada.

The U.S. dominates the North America residential electric radiators market size due to several factors. One of the major driving forces is the cold climatic conditions, where electric radiators have become essential appliances for residential areas. For instance, in 2020, according to the Residential Energy Consumption Survey (RECS), space heating remained the top energy-consuming end-use in the U.S., accounting for 42% of energy consumption in the residential sector. The average cost of space heating in U.S. households is USD 519. Energy consumption and expenditures vary across the country, depending on the climate and energy source used. Additionally, the trend toward space heating and energy-efficient solutions creates a significant demand for electric radiators.

Canada is also a major contributor to space heating. According to the Government of Canada’s Distribution of Residential Energy Use in Canada 2019, space heating accounts for 63.6%, water heating 17.2%, appliances 14.1%, lighting 3.5%, and space cooling 1.6%. In colder provinces such as Alberta and Manitoba, these systems are often more prevalent due to their effective heating capabilities. Coastal regions, such as British Columbia, may lean toward alternative heating methods given milder climates. Ontario, being a populous province, witnesses a diverse mix of heating solutions, with electric radiators being one of the choices for homeowners seeking efficient and reliable winter warmth.

List of Key North America Residential Electric Radiators Market Companies 

Runtal North America Inc. is a North American Company and Leader in Radiators

Runtal America is one of the major players in the electric radiator market, boasting a wide product portfolio of residential electric radiators. Runtal Electric's Wall Panel Series is designed to meet common U.S. code standards, seamlessly blending into interior spaces on walls or under windows where floor space is at a premium. This design helps suppress cold spots and drafts while allowing window treatments to hang properly to the floor. Runtal Electric offers various pumps such as panels and baseboards. Its electric radiators come in three voltage configurations: baseboard, wall panels, and towel radiator designs. Other significant contributors to the market growth include players such as Honeywell, PRUMO, New Air, and others, who enhance the residential electric radiators market with diverse product portfolios used in various applications.

List of Key Companies Profiled:

• Purmo USA  (U.S.)


• Runtal North America Inc  (U.S.)


• Honeywell (U.S)


• De'Longhi (U.S.)


• NewAir (U.S.)


• H2 Brands Group (U.S.)


• Ecorad (U.S.)


• ELNUR GABARRON (U.S.)


• Dreo LLC (U.S.)


• King Electric (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• July 2023: Biden-Harris Administration announced USD 90 million to assist resilient and efficient building energy codes and save American families money. Such developments might create a suitable environment for energy-efficient equipment.


• December 2022: The Biden-Harris administration announced the introduction of the first federal building performance standard aimed at reducing energy use and electrifying appliances. Energy used in federal buildings for space heating, water heating, cooking, and other purposes accounts for over 25% of federal emissions.


• December 2022: Nova Scotia shared plans to invest USD 140 million in energy efficiency programs over the next four years to help low and middle-income homeowners stop using heating oil. According to Natural Resources Minister Tory Rushton, the money would provide low-income households with free heat pumps and the electrical panel upgrades needed to install them.


• November 2022: Canada's federal government announced a new grant to help low-income homeowners convert from high-carbon oil heating to efficient heat pumps by removing cost barriers and layering programs. This might increase the demand for heating equipment and systems.


• February 2022: The U.S. Environmental Protection Agency proclaimed the launch of the ENERGY STAR Home Upgrade, a high-impact series. These efficient electric improvements can save the typical family utility bills about USD 500 a year. The move by the Environmental Protection Agency adopted a market-based approach to connect American households and residential buildings at all pay levels with the resources they need to plan for the future of clean energy.

REPORT COVERAGE

The report gives a detailed market analysis and focuses on key aspects such as leading companies, leading product applications, and service types. Besides, the report offers insights into the market trends analysis and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the market growth in recent years.

REPORT SCOPE & SEGMENTATION