According to Cognitive Market Research, the Heating Element Market Size was USD 9614.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a Market Size of USD 3845.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a Market Size of USD 2884.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a Market Size of USD 2211.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a Market Size of USD 480.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a Market Size of USD 192.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The home appliances category is the fastest growing segment of the Heating Element industry
