Boston, MA -- (ReleaseWire) -- 06/05/2014 -- In 2013, many regions in the US experienced some of the coldest weather in recent history. The extreme cold helped lift sales of heating appliances, especially after a year of record-breaking heat. As a result, heating appliances grew by 1% in volume, reaching nearly 17 million units.
Sunbeam remains the brand with the largest volume market share, of 13% in 2013, followed by Honeywell, with a 10% share. Sunbeam has historically been the market leader; however, in 2013 the brand saw a dip in share. Smaller brands proved to be the ones that gained share in this fragmented market.
The forecast period is expected to be brighter than the review period in terms of value growth; however, it is important to note that heating appliances will continue to be afflicted by seasonality. Heating appliances are expected to show a flat volume CAGR, while the value CAGR is expected to stand at1% in constant value terms over the forecast period. The highest average unit price increases are expected to come from panel heaters and oil-filled radiators, which are generally the highest priced items after electric fires.
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