The market for electric radiators, convection heaters, and heaters with built-in fans in Belgium has shown fluctuations over the past decade. In 2023, the market was valued at 8.37 million Euros, nearly stable compared to 2022's 8.41 million Euros, representing a slight 0.5% decrease. Over the last five years, the market's compound annual growth rate (CAGR) was -0.24%, indicating a relatively stagnant market across this period. Noteworthy was the significant decline in 2020, followed by a recovery in 2021.
Future trends to watch for include a shift towards energy-efficient models driven by regulatory changes and increased environmental awareness. Moreover, technological advancements, such as smart home integrations, are likely to influence consumer preferences and market dynamics in the coming years.
- 2017 experienced the most significant growth, with a year-on-year increase of 13.28%.
- 2020 marked a notable decline due to broader economic factors, possibly related to the COVID-19 pandemic.
- The last five years displayed an average annual decline of 0.24% in market size value.
- Developments in eco-friendly technologies and increased consumer demand for sustainable heating solutions could alter future trajectories.
| # | 6 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 440,890,000 | 2023 | +1.77% | -0.95% | View data |
| 2 | 2 United Kingdom | 144,170,000 | 2023 | -0.13% | -1.59% | View data |
| 3 | 3 Finland | 27,758,000 | 2023 | +1.12% | +4.05% | View data |
| 4 | 4 Denmark | 12,765,000 | 2023 | +3.95% | +6.36% | View data |
| 5 | 5 Belgium | 8,365,300 | 2023 | -0.5% | -0.24% | |
| 6 | 6 Croatia | 7,980,600 | 2023 | +3.66% | +2.66% | View data |
