Global Infrared Heating Panels Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Infrared Heating Panels Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The infrared heating panel emits heat through infrared rays and provides a direct and mild heating form. Compared with traditional space heaters, they are a safer way to add supplementary heat to the area. Infrared heating panel is divided into high power and low-power, and has residential and commercial uses.

Market Overview:

The latest research study on the global Infrared Heating Panels market finds that the global Infrared Heating Panels market reached a value of USD 69.84 million in 2022. It’s expected that the market will achieve USD 78.76 million by 2028, exhibiting a CAGR of 2.02% during the forecast period.

Influence of COVID-19 Outbreak on Infrared Heating Panels Industry Development

Under the influence of the epidemic, governments all over the world have ordered to reduce travel, people spend more time at home, and the demand for heating at home has increased. COVID-19 pneumonia promotes the sales of infrared heating panels, especially domestic infrared heating panels. Because people spend more time at home during the epidemic, the demand for domestic infrared heating panels increases.

The epidemic has changed people's consumption patterns, with major shops and shopping malls closed. People have reduced their travel and can only buy infrared heating panels online. Online purchase is also very convenient and fast, which also increases the demand for infrared heating panels and promotes the development of infrared heating panel industry.

The uncertainty of epidemic situation urges enterprises and consumers to shelve large-scale projects. Most raw material suppliers stop supplying raw materials. The demand of downstream industries increases, the supply exceeds demand, and the prices of raw materials such as stainless steel and glass fiber rise. With the rising price of raw materials, the production cost of enterprises increases, which has a certain impact on the infrared heating panel industry.

Drivers

The main advantage of the infrared heating panel is that, unlike the conventional heater which only heats air, the infrared heating panel heats the wall, which will keep it completely dry. Then, it accumulates heat in walls and floors, thus keeping warm and keeping dry by reducing condensation. Therefore, infrared heating helps to prevent mold from spreading. In addition, the traditional heater keeps circulating dust particles in the room by convection current, thus warming the room, but infrared heating does not produce these convection currents, so it is also suitable for people with asthma. Compared with traditional heaters, infrared heating panels have better characteristics, thus promoting the development of the industry.

The United States has developed a modern economy, and its economic activities are extremely diversified. The United States has always pursued a policy of encouraging consumption, and private consumption occupies the most important position in GDP. The growth of consumer goods demand and GDP promotes the development of infrared heating panel industry. With the increase of disposable income, consumers demand higher and higher living standards, so enterprises need to create better infrared heating panel products. As the main market of infrared heating panel industry, America has been developing well. According to the research data, the value market share in the United States in 2019 was the first in Europe and the United States, and the United States is a growing market of the infrared heating panel industry. The growing demand for infrared heating panels in American market will promote the development of the industry.

Region Overview:

USA had the highest growth rate of all regions.

Company Overview:

Yandiya is one of the major players operating in the Infrared Heating Panels market, holding a share of 10.96% in 2020.

Yandiya is committed to the design development, manufacture and worldwide distribution of next generation heating solutions. Yandiya's infrared heating products adopt far infrared technology, which can provide energy-saving heating mode.

Sundirect Technology Ltd. is one of the leading manufacturers in the section of far infrared heating systems. The company was founded in 2011 with currently more than 50 employees. Sundirect produces different types of the infrared heaters including the panel heater, glass heater, mirror heater as well as all necessary accessories.

Segmentation Overview:

Among different product types, High Power segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Residential segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Infrared Heating Panels market covered in Chapter 3:

IHP
sro FIRST
Ducoterra
WarmlyYours
Sundirect
ETHERMA
Eco2heat
Redwell Heating
Yandiya
Herschel

In Chapter 4 and Chapter 14.2, on the basis of types, the Infrared Heating Panels market from 2018 to 2029 is primarily split into:

High Power
Low Power

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Infrared Heating Panels market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)