As per a recent market analysis by Future Market Insights (FMI), the aquarium heaters and chillers market is poised to reach a valuation of US$ 29 Million in 2022. Sales are projected to increase at a 5.0% CAGR, with the market size reaching US$ 47.5 Million by 2032.
The global aquarium heaters and chillers market is forecast to witness growth at a steady pace. Developed countries such as the U.S. and the U.K. are expected to emerge as lucrative pocket amid high adoption of fishes at pets by individuals.
The consumer base in these countries are aware of fish care and the importance of the related products. Key players are also keeping their product offerings updated and are investing in research and development to improve the efficiency of plastic aquarium heaters and chillers.
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Low and middle-income countries provide a scope of expansion for key players to tap into such markets to improve sales. Breakthroughs in developing newer and better heating and cooling systems has given the manufacturers an opportunity to gain a competitive edge.
“High adoption of fishes as pet among individuals across the globe, along with increasing demand for aesthetic and efficient fish care accessories is expected to fuel the growth in the market over the forecast period,”says an FMI analyst.
Key Takeaways:
- Submersible chillers remain the most prominent product category.
- Plastic-based heaters and chillers are gaining popularity among private consumers.
- The commercial vertical of the aquarium heaters and chillers market leads the sales charts.
- Sales of multi-temp heaters and chillers are gaining traction in the commercial sector.
- The U.S. is expected to account for 80% of the North America aquarium heaters and chillers market.
- Demand in the China aquarium heaters and chillers is expected to increase at a 6% CAGR over the forecast period.
- Indonesia will emerge as a lucrative pocket in the global aquarium heaters and chillers market over the assessment period.
Competition Landscape
Leading manufacturers in the global aquarium heaters and chillers market aiming to expand their product portfolios through research and development. They are also investing in mergers, acquisitions, and collaborations to expand their presence across untapped markets.
Key players in the aquarium heaters and chillers market include –
- EHEIM GmbH & Co. KG.
- Finnex Stores
- Rolf C. Hagen Group
- Fluval Co.
- Cobalt Aquatics
- Ista Professional Aquarium System
- CNCEST
- Penn-Plax
- ShenZhen Inkbird Technology Co., Ltd.
- OTTULUR Co.
- DaToo
- Miumaeov Co.
- Ethedeal
- OTVIAP
- Anself
- Hamilton Technology
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global aquarium heaters and chillers market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the aquarium heaters and chillers market based on Product Type (In-line Heaters, Submersible Heaters, In-line Chillers and Submersible Chillers), by End-User (Private and Commercial), by Material Type (Plastic, Metal Alloys and Other), by Sales Channel (Wholesalers/Retailers, Hypermarket/Supermarket, Direct Sales, Specialty Stores, Online stores, Others Sales Channel) and Region.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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