QYResearch: Global consumption of Baseboard Heater will reach about 66324 K Units by 2022
Baseboard Heater is designed for use in residential, commercial, industrial, and institutional heating systems. Electric and hydronic are the two main types of baseboard heaters. Electric heaters are typically cheaper and more durable than hydronic units. They utilize a convection heating element to distribute heat.
The large downstream demand for Baseboard Heater has been and still remains fairly stable. Production of Baseboard Heater increased from 44813 K Units in 2012 to 57244 K Units in 2016 globally.
According to QYResearch, North America ranks the first in terms of production volume of Baseboard Heater, consists of 48.22% the global market in 2016; Europe and China comes the second and the third places, consist of 37.41% and 6.60% of the global market respectively in the same year.
Glen Dimplex ranks the first in terms of production volume, occupies 13.43% of the global Baseboard Heater market in 2016; While, Marley Engineered Products, with a market share of 9.47%, comes the second; All the other manufacturers not listed in this report together consist of approximately 39.65% of the global market in the same year.
In the next five years, the global consumption of Baseboard Heater will show upward tendency further, consumption is expected to be about 66324 K Units by 2022. Global Baseboard Heater market size will reach about 3885.15 Million USD by 2022, with an average growth rate of 3.58% annually from 2012 to 2017, the average growth rate annually from 2017 to 2022 will be approximately 1.45%. Despite the presence of fierce competition and the trend of price decrease, due to the stable demand，together with the development of the related industries. Investors are quite optimistic about this industry. There will be more new investors entering this field in the near future.
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